Hi all! Old(ish) spark looking to go it alone but unsure where to start?

[M-B-Electrical-Services]

Hi.

I thought I would introduce myself on here in the hope to gain some valuable information on setting out on my own.
I'm 42 and have been an electrician for over 20 years in the commercial/industrial sector with a small amount of experience in the domestic sector.
I was furloughed during the first lockdown last March for 4 months so I started looking around for work and found a local firm who specialise in "compliance" in the domestic/commercial sector so I decided to jump on board for a change of pace.

A funny thing happened.....I found that I absolutely love doing EICR's and the remedials that often follow which surprised me as I always thought my passion was commercial/industrial install work.
This kind of work is really satisfying as not only are you inspecting an installation but you're finding faults on a daily basis and it's figuring out the faults that I really enjoy.
I have also found that I'm learning a lot about my trade which surprises me as I didn't realise how in depth these EICR's could get, also, looking at the previous schedule of test results, these tests have more than likely been done whilst sat in a van!

Anyway, on to the reason for my post:

I'm starting to think that I should use my experience and skills for my own benefit instead of someone else (who makes all the money) so I'm considering starting out on my own as a sole trader but I've always been "cards-in" so am unsure what I'll need to get going.
I will stay in my PAYE role to begin with and do all my own work at weekends and see if it pays off.

I am aware that I'll need public liability insurance as well as public indemnity but I don't know to which values (2 mil or 5 mil, 250,000 or 1 mil respectively).
Do I go with NAPIT or NICEIC and to which level? (Do I even need to do this as I'm an "approved electrician" so can sign my own work off).
I'll need an accountant for sure and I'll need to register for self assessment.

Can any of you guys guide me in the right direction as I'll be approaching some estate agents soon and would like to be armed with the best knowledge possible to put myself in a positive light.

This is a very daunting step for me as I've never considered doing this before!

Any help would be greatly appreciated.

Thanks.

M

 

[telectrix]

part p of the building regs. stipulates what works are notifiable works. to notify without paying out a fortune you need to be niceic or one of the others. you'll need a couple of jobs for assessment, current copies of regs, H&S policy, risk assessment forms, complaints procedures, etc,.

insurances. PL usually 2million. PI 1/4 million.

hmrc will give you a UTR number for self-assessment.

 

[M-B-Electrical-Services]

part p of the building regs. stipulates what works are notifiable works. to notify without paying out a fortune you need to be niceic or one of the others. you'll need a couple of jobs for assessment, current copies of regs, H&S policy, risk assessment forms, complaints procedures, etc,.

insurances. PL usually 2million. PI 1/4 million.

hmrc will give you a UTR number for self-assessment.

Hi.

Thanks for the quick reply!

Ah, I didn't consider risk assessment, health and safety policy or a complaints procedure! I'll have to look into to this to see how I'll put such a thing together (this is the issue with working cards in all my life, never been exposed to the paperwork side of things).
I have all the regs books and all my paper qualifications to hand.

I know I can make this work but it's really daunting!

 

[M-B-Electrical-Services]

Any advice on how best to approach an estate agent to get on their books?

 

[telectrix]

risk assessment, health and safety policy or a complaints procedure!

these can mostly be downloaded from internet. niceic will tell you what they want. you have a choice with them,,, Domestic Installer status which allows only domestic works under their banner, or Approved Contractor, which covers commercial and industrial as well. not sure about napit or elecsa.

notifiable works are basically:
1. new circuit/s
2. Consumer Unit fitting
3. Any work in special location/s e.g. bathroms.

you can download (or just read) pert p from "planning portal". part p only applies to dwellings,

 

[telectrix]

Any advice on how best to approach an estate agent to get on their books?

or draft a generic letter and send to all agents in your area. EICRs for landlords are a big issue at the moment with the new law.

 

[M-B-Electrical-Services]

View attachment 63992
or draft a generic letter and send to all agents in your area. EICRs for landlords are a big issue at the moment with the new law.

Yeah, It's exactly what I'm doing at the moment for my current employer I just want to cut out the middleman and step out into the wide yonder on my own and be my own boss for once!

I'll do just that, sent letters/emails out as you suggest. Nervous about this but I have to try!

Thanks for your help!

 

[Mike Johnson]

Follow any letter you send out with a telephone call, otherwise you are just another spark looking for some work, I would also try to meet the Estate/Letting Agent personally.

 

[Deleted account]

Any advice on how best to approach an estate agent to get on their books?

Walk in say hello! They’ve got loads on there books and deadline for rental EICR is approaching.

Ive been contacted by loads of estate agents and turned them down as I’m unable to fit them in.

they will snap your hand off, but they will probably want you to be registered.

 

[M-B-Electrical-Services]

Follow any letter you send out with a telephone call, otherwise you are just another spark looking for some work, I would also try to meet the Estate/Letting Agent personally.

I planned to pop in to my local estate agent last week as it happens but I thought they wouldn't appreciate an unannounced visit so didn't go in. I keep second guessing myself all the time instead of just grabbing the bull by the horns and doing it!

 

[Mike Johnson]

Grab the bull by the horns, wrestle him to the ground and don't let him up until he gives in. ?

 

[Deleted account]

Addition to above. Don’t go cheap. You don’t need to.

an example £50 per consumer unit plus £25 - £35 per circuit depending on size, age, access ability etc....

so a flat with one Cu and 6 circuit best case scenario £200.00

 

[M-B-Electrical-Services]

Walk in say hello! They’ve got loads on there books and deadline for rental EICR is approaching.

Ive been contacted by loads of estate agents and turned them down as I’m unable to fit them in.

they will snap your hand off, but they will probably want you to be registered.

Ah, So what happens when the deadline expires? I presume all the work will dry up? I don't want to jump into this at the very end and "miss the boat" so to speak!

Also, getting registered isn't a quick process so I'm sure that by the time I do get assessed, it'll be around the time (April I presume) that work fades away......

 

[M-B-Electrical-Services]

Grab the bull by the horns, wrestle him to the ground and don't let him up until he gives in. ?

I'll walk right in there with a red rag....

 

[M-B-Electrical-Services]

Addition to above. Don’t go cheap. You don’t need to.

an example £50 per consumer unit plus £25 - £35 per circuit depending on size, age, access ability etc....

so a flat with one Cu and 6 circuit best case scenario £200.00

Glad you touched on prices to honest, another avenue I'm unfamiliar with!

 

[M-B-Electrical-Services]

I do a LOT of consumer unit upgrades and always wonder what the gaffer charges....better in my pocket than his!

 

[Deleted account]

Ah, So what happens when the deadline expires? I presume all the work will dry up? I don't want to jump into this at the very end and "miss the boat" so to speak!

Also, getting registered isn't a quick process so I'm sure that by the time I do get assessed, it'll be around the time (April I presume) that work fades away......

It won’t Dry up.
we are barely coping with the quantity now, if fact we are not. It will over run. Then it’s change of tenancy, every five years or less dependant on what s given and new properties entering the buy to let.

This has permanently increased the work load.

im not just getting existing Rental properties. It’s new rental properties and the tenants cannot move in until the EICR is done.

I would guess that 80% of landlord never had an EICR before this new reg came into force.

 

[Deleted account]

I do a LOT of consumer unit upgrades and always wonder what the gaffer charges....better in my pocket than his!

Consumer unit swap minimum £600.00. Always aim for £300- £350 profit.

different areas different sparks charge differently.

 

[M-B-Electrical-Services]

It won’t Dry up.
we are barely coping with the quantity now, if fact we are not. It will over run. Then it’s change of tenancy, every five years or less dependant on what s given and new properties entering the buy to let.

This has permanently increased the work load.

im not just getting existing Rental properties. It’s new rental properties and the tenants cannot move in until the EICR is done.

I would guess that 80% of landlord never had an EICR before this new reg came into force.

That is very encouraging! I keep looking around at all the apartments/houses and thinking about the 5 year/new tenant thing knowing it needs to be done.

I got pulled a builder randomly the other week, I was changing a consumer unit (for a change) and he asked me if I worked for myself or not. When I explained I worked for an employer, he started on about how foolish I was to be doing that when I could be doing it for myself . Told me I'll never look back and that I should go for it. He really got to me that day and I told the wife that night that I wanted to work for myself.
She's very cautious though and is worried about bills being paid etc......I tried to reassure her but I suppose she's right to be a little concerned as I have a steady income now so why risk it.

Thing is, if you don't take risks in life you never move forward!

 

[M-B-Electrical-Services]

Consumer unit swap minimum £600.00. Always aim for £300- £350 profit.

different areas different sparks charge differently.

I see it the same as you, overheads have to be paid for so the price reflects that.....