Starting your own business

[Millsy 82]

Grass isn't always greener. If your married and want to stay married don't go self employed! You will have no life and days that your suppose to be off your mind won't switch off.
Totally different if you've been handed down a business from generations where you have a large customer base.
Too many guys out there under cutting each other or customer wants thing cheap. Internet has done damage to this industry where people see how much things cost or try and do it them selfs from you tube videos.
It's grim! Life is too short to be stressing over were my next job is going to be or waiting to get paid.
I'm only being honest!

Although self employed isn't for everyone and yes the grass isn't always greener I do disagree. During the week I may be late home from time to time but weekends I don't work apart from 1 holiday let company with about 10 houses that pay within 20 minutes of receiving the invoice, if they phone and I can go out I will go out if I can't I can't. There is also I am not restricted to 20 days holiday I have plenty of half days or long weekends with the family that I wouldn't if I was employed. Also when you have quiet days I spend it with my family if they are around or if not surf's up baby! I tried to do that when I was employed and I couldn't as they always found me more work but not the others.

Yes the internet has made things a little harder but I like the honest route, if people say that boiler sounds more expensive than I can get it I say all materials supplied by me I put 10% on for installs and 20% for breakdowns, if you have a problem you can phone me and I will come out if you buy the cheaper one you get no warranty off me. They usually go with me if they don't then I'm not worried I don't want the sort of customer that doesn't want me to survive and just want the cheapest quote.

Without offending anyone if your a worker then give it a try it's not for everyone but if you like it the benefits outweigh the disadvantages.

 

[Ryooo]

Although self employed isn't for everyone and yes the grass isn't always greener I do disagree. During the week I may be late home from time to time but weekends I don't work apart from 1 holiday let company with about 10 houses that pay within 20 minutes of receiving the invoice, if they phone and I can go out I will go out if I can't I can't. There is also I am not restricted to 20 days holiday I have plenty of half days or long weekends with the family that I wouldn't if I was employed. Also when you have quiet days I spend it with my family if they are around or if not surf's up baby! I tried to do that when I was employed and I couldn't as they always found me more work but not the others.

Yes the internet has made things a little harder but I like the honest route, if people say that boiler sounds more expensive than I can get it I say all materials supplied by me I put 10% on for installs and 20% for breakdowns, if you have a problem you can phone me and I will come out if you buy the cheaper one you get no warranty off me. They usually go with me if they don't then I'm not worried I don't want the sort of customer that doesn't want me to survive and just want the cheapest quote.

Without offending anyone if your a worker then give it a try it's not for everyone but if you like it the benefits outweigh the disadvantages.

Hi mate, thanks for your post. I like the way you explain your mark up on materials. Do you mean 20% on any material you may need to fix boiler etc? A company i worked with put a 30% mark up on all material.

 

[Murdoch]

My advice is simple .........

1. build up a large cash reserve in your business account before you start
2. always provide written estimates / quotes so that what you are doing is clear and this should avoid payment issues
3. agree stage payments when doing work that has time scales out of your control (builders and self managed refurbs are the worst)
4. Don't join the race to the bottom - theres always some mug who will undercut you
5. Changing washers on taps and fixing leaks don't pay the bills BUT you need to establish yourself and get referrals before the larger jobs come your way
6. Use you trade account credit terms wisely .....
7. Don't promise what you can't deliver
8. Contact customers if you are going to be delayed
9. You won't be working 5 days per week, 48 weeks of the year
10. Being SE means no holiday pay, no sick pay, no pension, no bank holiday pay ........

and finally

allow 2 hours per day for admin / planning - yes really

 

[Millsy 82]

Hi mate, thanks for your post. I like the way you explain your mark up on materials. Do you mean 20% on any material you may need to fix boiler etc? A company i worked with put a 30% mark up on all material.

Yeah I put 20% on all bits on smaller jobs I haven't tried putting more on the bits.

 

[Millsy 82]

My advice is simple ...

1. build up a large cash reserve in your business account before you start
2. always provide written estimates / quotes so that what you are doing is clear and this should avoid payment issues
3. agree stage payments when doing work that has time scales out of your control (builders and self managed refurbs are the worst)
4. Don't join the race to the bottom - theres always some mug who will undercut you
5. Changing washers on taps and fixing leaks don't pay the bills BUT you need to establish yourself and get referrals before the larger jobs come your way
6. Use you trade account credit terms wisely ...
7. Don't promise what you can't deliver
8. Contact customers if you are going to be delayed
9. You won't be working 5 days per week, 48 weeks of the year
10. Being SE means no holiday pay, no sick pay, no pension, no bank holiday pay .

and finally

allow 2 hours per day for admin / planning - yes really

I disagree with 5. Give me 4 small jobs a day and I earn as much as I would doing a full day I also have time for surfing. And admin/planning I do as I go along.

 

[Rob Foster]

I have accounts all over the place..they are all nice suppliers. Now watch out for price change ..be carefull...its dead easy to scratch your name
for 4 or 5 bundles of 15mm 22mm pipe
pass it on to the customer and then find the price goes lala. by the time you get your wedge ..oops.
It works both ways ..a few years ago we needed 3 or 4 bundles of
Full length ..22mm 6 m stuff just b 4
xmas ...the price was stupid low
We bought the lot ...wiped out the silly builders merchant fella
24 bundles of 6m 22mm at 50%
of the going price...then sold it on ..same day...but it can work
both ways ...
centralheatking



N

 

[Ryooo]

I disagree with 5. Give me 4 small jobs a day and I earn as much as I would doing a full day I also have time for surfing. And admin/planning I do as I go along.

Thanks everyone for there contributions. On another note, where do you go sufring Millsy? Last time i went was up in Thurso. I'm not very good but it's just as much fun!

 

[WC1]

I disagree with 5. Give me 4 small jobs a day and I earn as much as I would doing a full day I also have time for surfing. And admin/planning I do as I go along.

Time spent in the office / shed - wherever you do your planning and thinking is imo as least as important than time on the tools, esp when you're starting out

 

[Ryooo]

Cheers everyone for their contributions. Its all greety recived.

Been thinking about names this week, so far I've got RCA Plumbing & Heating services (my name is Ryan, son is Callum. Second name is Andrews). Andrews Plumbing & Heating services. I was trying to go on location so came up with Ochilview Plumbing & Heating. Going to price up GSR now. Once i get a name ill get cards made up. Any thoughts or suggestions?

I know the website like trustatradesman and mybuilder get alot of bad rep on this but does anyone else use them on here to get work in dry times?

Totally agree on pricing and having cash behind me. Would like to be able to have enough saved to survive the worst of worst months.

My biggest expense starting up will be a van. I've always had a company van. What would your advise be on this topic?

Cheers again everyone! Much appreciated.

 

[Millsy 82]

Thanks everyone for there contributions. On another note, where do you go sufring Millsy? Last time i went was up in Thurso. I'm not very good but it's just as much fun!

I'm the other end of the country mate down in cornwall.