Self employed

[emacleod]

Hi guys I'm looking at going self employed but not sure if it's a good idea. Can anyone give me some advice on this?
Thanks Euan

 

[sparkysomerset]

Hi i have been self employed for 13 years and unless you can make £800 a week after tax and running its not worth the time and effort ,but that's only my opinion

 

[GMES]

Euan, without being negative if your area is Domestic then it is very hard going at the moment, luckily I'm Industrial / commercial but i know loads of guy's who are struggling to make it work, and some of these have been at it for years.
What Qualifications/experience do you have ( both equally important in my eyes )
what are your people skills like
Have you got any experience with quoting/pricing for work
there are many many things you need to think about before taking the plunge
One of the 1st things i would say is if you meet all the above, i would still want a substantial amount of money put to one side, if possible a years wages. This may sound extreme but believe me it can take a long time to get the money rolling in to a point where you can take a weekly wage.
Give us some information about yourself and maybe we can offer more advice.

 

[joe.ninety]

Hi i have been self employed for 13 years and unless you can make £800 a week after tax and running its not worth the time and effort ,but that's only my opinion

So it's only worth being self employed if you bring in £60K per year? Because that what's behind the numbers your quoting.
I'm sure there are quite a few on here that would happily be self employed for 2 thirds of that amount, and I'm certainly one of them.
Being your own boss is not just about the money, it's also about not having to take orders :53: from 'arse parts' higher up the chain.

 

[Benjamiin]

@sparkysomerset, jesus christ, wouldn't mind being a pound behind you in the bank!! Im self employed and after costs and tax bring home about 500 a week( give or take) , which is fantastic considering I've been trading for 2 months!!

to the op, what I would say is that I've found out already that when you have a quiet week, it hits you 3-4 weeks later when those invoices get paid!

good luck to you mate!!

 

[Meggerman]

Hi i have been self employed for 13 years and unless you can make £800 a week after tax and running its not worth the time and effort ,but that's only my opinion

Really, the average employed spark takes home <£500 a week, some more like £400. Why do you think the OP needs £800 take home. If you start off self employed making the same as employed while you get going, you are doing well.

 

[emacleod]

Thanks guys I've got a wide array of experience I've been involved in industrial and domestic. At the minute I make <£400 a month so anything over that's a bonus. I already have a van,tester and other plant. And a guy who is offering me 2-3 days works to help get me started.
Euan

 

[Meggerman]

Thanks guys I've got a wide array of experience I've been involved in industrial and domestic. At the minute I make <£400 a month so anything over that's a bonus. I already have a van,tester and other plant. And a guy who is offering me 2-3 days works to help get me started.
Euan

I guess you mean per week!! If you got a guy giving to some to help you get going while you build up, that will really help. You'll do fine mate.

 

[GMES]

My advice about money in the bank still stands, it takes time to get cashflow rolling unless you are doing mainly domestic where it is ready cash at the end of the job.
I am ind/commercial and can be waiting a minimum of 30days to as long as 90 days, I am 2 years in to my own business and I am now ok but the 1st 6-12 months took some juggling.
But don't let any of this put you off, if you have the drive, ambition and determination then you will succeed.good luck with your venture it is a fun ride.

 

[Megavolt]

Sorry but it's not worth all the hassle for anything less then £800 a week. You may as well work for someone and have a life

 

[Welchyboy1]

Sorry but it's not worth all the hassle for anything less then £800 a week. You may as well work for someone and have a life

A bit ambitious starting off maybe, but not that hard to acheive once your established

as most sparky jobs are not cards in anymore anyway and the general employed rates are dire, it doesnt take long to make it worth while going self employed

a wage slave id never be again

 

[johnlouis]

So if you have already what you need to start as self employed then what are you waiting for ? Just go for it and give time to that guy offering you work for some days. Best of luck