Anyone worked for a big company then take the leap into working for yourself?

[payney1974]

Hello there, ive been working for a company for 16 years now doing plumbing, c / h, servicing then for the last 6 years ive been doing breakdowns and working on chp's / pps. I worked my way up through the ranks and became in my eyes a very good engineer but recently we were taken over by a VERY big company and i am now just a number and the way they work is very strange. I have been planning to work for myself but just wondered if anyone had got any tips for me, for example how do you work direct one day and then you have a week full of your own work the next? I cant advertise yet while im still with the company. I could start doing jobs on the side and building a customer base that way and then when i give a months notice start advertising? Also my company has said if anyone has there own gas safe card they will be sacked???

Any advice would be very much appreciated.

 

[wnjswozo]

start planning,youve got the experaince,youll,nail it workng for self ,youll soon get in work.my only tip would have at least 3 months money behind you as a reserve,if poss.dont blow all your money save 1 third for tax,and work out your overheads,
ie public liabilty insur,van,petrol,van tax,insurance,holiday pay,tools,accoutant,ads . stay on top of paperwork,work out a mim callout fee.remember it will take 3 years to become established.and finally dont give up,there will be highs and lows,but planning money wise is a must

 

[payney1974]

Thanks for the quick response, i only thought keeping 2 months money back would be enough im glad you said, im thinking of making the transition when it starts to get cold next year maybe September (is this a good time?) so plenty of time to save some cash although i need a van, power flush unit and a few other little things.

 

[wnjswozo]

would,nt bother with powerflush gizmo,you can hire them cheap now,if your not in a rush,i would leave it longer see how the recession pans out next year maybe think year after, more time to plan/save/get name about.

 

[oldplumber]

The biggest point to make is dont overspend on kit , vans etc before the money is coming in, surefire way to go bust. Hire it if you need it and charge the customer the hire fee. Get your invoices out quickly and chase up late payers politely and firmly. If your works ok then they cant argue about paying.
Get your reputation , turn up , ring up if late nothing ****es off the customer more than a no show, it kills your local reputation.
I only advertise in local post code services mags, papers are a waste of time and thompson/yellow pages put you in with 100s of the same response rate isnt good in my experience, you only cover the cost of the ads.

good luck

JD

 

[stevetheplumber]

ive heard that some companies ban employies having there on gas card which in my opinion is a complete liberty what you do with the other 16 hours a day is your buisness
you will probably find the directors of said company is also involved with other companies in various roles

 

[Puddle]

You have to look over both sides of the fence
Directors may have other interests but probably not in other gas work firms,as that would be a conflict of interests,as is if you do gas work private outside of your firms work
As I have said before if you go into work in the morning and they send you home because the job you was going to do and get paid for by the company has cancelled because the customer got it done cheaper by a bloke the night before and you end up with a wage packet of half what in should be at the end of the week,you would soon be up in arms

 

[payney1974]

I understand what your saying puddle because in the future i could take a guy on and he could be out there undercutting me without my knowledge which i would be annoyed at!! Lets face it though im not going to affect my company at all am i ?, i think customers that use companies like say "british gas" will always use them because they think they are " the best " and are scared of the possibility of getting a rogue trader so they end up paying the 4 or 5 grand for a bog standard sytem, this is the customer small companies or sole traders would never get. The customers i would get are the ones who simply can't warrant paying that sort of money and never would. How else can i start up on my own without doing jobs on the side (still paying tax though)? i mean is'nt that the way everyone has to do it? and when your diary is getting pretty full take the plunge and advertise.

 

[Puddle]

I understand what your saying puddle because in the future i could take a guy on and he could be out there undercutting me without my knowledge which i would be annoyed at!! Lets face it though im not going to affect my company at all am i ?, i think customers that use companies like say "british gas" will always use them because they think they are " the best " and are scared of the possibility of getting a rogue trader so they end up paying the 4 or 5 grand for a bog standard sytem, this is the customer small companies or sole traders would never get. The customers i would get are the ones who simply can't warrant paying that sort of money and never would. How else can i start up on my own without doing jobs on the side (still paying tax though)? i mean is'nt that the way everyone has to do it? and when your diary is getting pretty full take the plunge and advertise.

Hey needs must,I am just giving the other side,if the boot was on the other foot,I am sure the company would do what is best for them,There is no loyalty anymore,in he old days you would look after the firm you worked for and they would look after you,not anymore,as soon as you do not fit in ,your down the road
Also this trade is slightly differant as there are so many self employed/one man bands
I would build up my work then leave the firm as said,anyway ,good luck to you
Be very,very,very careful what kind of advertising you spend your money on,as can be expensive with small if any return

 

[payney1974]

I couldn't agree more as soon as there was a sniff of this recession heads rolled at our place, total mercenaries!! There attitude now is if you don't like it you know where the door is!! As advertising goes i was going to drop portfolios off at estate agents, posting business cards up everywhere and get the missus to walk the streets with flyer's ( she doesn't know yet) and get the van sign written.

Also what are the advantages / disadvantages of becoming " Limited " ?