Starting your own business

[Millsy 82]

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.

In my opinion when it comes to names think about what you want to achieve with your business. I had no interest in employing people when I set up now I have the odd day I think I should get someone else to do the installs but in my heart I can't be bothered with the hassle.

If you want to grow a business so you get off the tools then think up a good name if your like me and just want to be your own boss and are not too fussed about employing people then just use your full name. I think it allows your customer to think they know you and you have that sort of personal touch type thing. The thing is if you just use your name people then expect you so if you do choose to grow then it may take some explaining that it's not you doing the job.

If your ambition is to grow your business then expand and become the next british gas or Pimlico then choose a name that doesn't tie you to 1 particular region like if I chose to have newquay gas people in falmouth will think I don't go that far and if I want to expand beyond the borders into Devon people think I would rather have someone local.

 

[Welder]

Questions for you.

What is it about you and your business that's different from everyone else?

Why would anyone call you rather than the next person in the book?

In an industry where everyone is undercutting everyone else, you MUST consider those questions and then, when you've worked out what your USP is, STICK TO IT otherwise you'll join the race to price oblivion.

 

[Millsy 82]

Questions for you.

What is it about you and your business that's different from everyone else?

Why would anyone call you rather than the next person in the book?

In an industry where everyone is undercutting everyone else, you MUST consider those questions and then, when you've worked out what your USP is, STICK TO IT otherwise you'll join the race to price oblivion.

I think you don't really need a usp. If your good at your job, sensible with your pricing and reliable then you will find your way. Yes there are loads of people trying to undercut each other and let them have the customers stupid enough to go for the cheapest quote. It may take some time but you will build a solid base if you stick to those 3 things.

 

[OffshoreGas]

Most businesses don’t fail through being bad at their core trade it’s the stuff around the edges. I found a woman that does admin for me and she is a godsend. Answers the phone, organises jobs. Chases up late payers, deals with accounts etc. There are quite a few people who do it adhoc that are quite cheap.

 

[RBC]

Hi Ryooo,
Just checking if my email address came through in previous post if you wanted to contact me?
Cheers

 

[Ryooo]

Hi everyone. I just wanted to give a wee update. I basically took the plunge in February. Circumstances lead me to starting earlier than I expected but I guess when I have an idea in my head I'm like a hamster at a wheel.

Basically I was wanting to say what I've done since then and then maybe you guys could advise so I'm not currently doing anything wrong in your opinion or missing a very important part in the wheel so to speak. So here goes. I've also got some questions to ask at the end that I will post separate. Ps I just want to say the past 2 months have been an absolute blast. I wake up everyday rarring to go.

1. Leave the worst plumbing contractor in Scotland.

2.Go Self Employed through HRMC that night.

3. Name my company RCA Plumbing & Heating Services

4. Get work as a sub contractor on a new build site in Edinburgh. This is my comfort blanket. Enough work to keep me going 6 days a week. Mortgage covered.

5. Trade in my car for a van. Car was pcp and I always had a company van.

6. Get Gas Safe Registered. Buy public liability insurance.

7. Joined rated people. Seems its quite good up here.

8. My typical week is site Monday to Friday 8am to 3pm. Monday, Wednesday, Friday I've been doing private work after work. 2to3 hour jobs mostly. Saturday shift on site or private. Rest Sunday.

Now here comes my questions....

1. how to upscale it so I'm doing 5 days a week my private work and using my contractor as back up for quiet weeks.

2. Gas Inspection is 14th of June. What to expect.

3. I need a new FGA, what would you recommend?

4. Since I've started I've not done any bookkeeping whatsoever. Where do I fit this in? I don't why but it scares me and I'll do anything else to avoid it.

5. Pricing. I guess this is all personal and specific for where we live but I've solely used rated people for all my private work. Earning around £300.00 per week. I've had a 5 star review for every job and when I give a price the usual reply is that's very reasonable. My price list:

£30 per hour. 1st hour £30 per hour
£45 per hour call out charge
Disconnect gas hob £30
Connect Gas hob £60
Outside tap £80
Bathroom suite £450
10% Mark up on materials.

Thanks for reading. Any advice is greatly appreciated. Ryan

 

[Murdoch]

^^ book keeping is a necessary evil, ignore it and you won’t have a clue what you are earning or how to fill out your tax return. Do it daily.

Don’t forget to save for your tax and class 4 NI

 

[Millsy 82]

1 it takes time, but it also takes advertising. I find local magazines parish magazines etc to be fairly cheap and productive.

2 they are not there to catch you out. Most of them are there to help.if your unsure ask them. Make sure you have things like pads warning notices etc.

3 I like kane myself. Same as boilers though everybody has their favourites.

4 even if you keep something basic it helps. But then you need to employ an accountant at the end of the year.
I just keep a tally of jobs then at the end of the month tally up Amy fuel advertising costs van repairs direct debits etc so you know where your money is going I also like to write how much I get off each job how much I spent on that job etc so I can keep a track on if my pricing is going.
For each job I write invoice date, 1st line address, invoice number, how they paid cash cheque etc, total invoice, materials, total- materials.

5 each to their own with pricing but what you will find is £30 for your first hour is too cheap, you lose a lot of time driving between each job so charge more for first hour then work your pricing from that.

 

[Ryooo]

Thanks, just while you touched on the topic charging more for your first hour, do you still charge a full hour for Sat a 10 minute job? What's your thoughts on deposits?

 

[Ryooo]

Sat is meant to say say