Discuss Starting to become self employed (own) in the Electrical Forum area at ElectriciansForums.net

Gakure

Gakure

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Many in the forum are self employed with own companies.
If given opportunity or you were to start again from square 1, which plan route/step will you take when setting up? I.e
Qualified and you have bags of experience in many past years while employed, have hands tools but no power and MFT
  1. Open and register a company
  2. Get public and liability insurance
  3. Register with competent body
  4. Advertise while using family vehicle
  5. Buy power tools and mft
  6. Buy a van.
  7. Get the van wrap with all fancy letter all over.
  8. Join breakfast/network club to scout for jobs.
  9. Etc add your missed step
Above is my thought, how will you do it or what are your recommendation?
 
Aico 3000
Bob Geldoff1234

Bob Geldoff1234

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Esteemed
Arms
1. Open a business bank account.
2. Register with an accountant who can set up your company and register you for tax etc.
3. Forget sign writing your van.It very rarely gets any work.
4.Have plenty of happy customers and jobs in the pipeline.
5.Money already in the bank for the quiet times(and until you get established,you will get quiet times)
6.Advertising has never worked for me.Word of mouth and recommendation is everything.
7.Don't always be too cheap.It's funny how overpricing a job seems to get you the work(not always).
8. Be prepared to do LOTS of little £20-£30 jobs.These can lead onto the bigger,better paying jobs.
9.Decide which area you would like to mainly work in.ie domestic,industrial,commercial etc.
 
PEG

PEG

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Mentor
Esteemed
Arms
To the OP....do No.5 first.....you could do your first job,an hour later,whereas,all the other steps are add-0ns;)
 
Gakure

Gakure

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  • Thread Starter Thread Starter
  • #6
That's pretty much how I did it.

Would probably choose a different plan in a different life, but it worked for me at the time.
Go on sir Andy, please share your way.
I know there will be many ways, but I believe they will be personalised and all right/correct
 
Midwest

Midwest

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Esteemed
Arms
Just retired my self employed business, for various reasons.

If I were to start again, my main priority, would be to have a steady amount of work coming in. Mine was solely domestic. I did a bit of advertising; most of the jobs I got from that were small fry. My main revenue, was from working for other companies, which you get by word of mouth, as others have already said.

You gonna have to subby for other companies to start with, until you pick up your own trade. That could take between 3-5 years or more.
 
W

Welchyboy1

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Esteemed
Arms
Try and get a van asap

Turning up in ur dads estate is not a good look!

Dont bother registering a company, go sole trader at the moment and save on accountant costs
 
spark 68

spark 68

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Esteemed
Arms
I ended up back on cards in after 6 years, less stress and more time (just a little) for family and stuff.
Not trying to dampen your enthusiasm btw, you gotta try it or you will never know :) good luck btw
 
Timbo

Timbo

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Esteemed
Arms
Supporter
Don't forget, if you are using the family car, get Business Use Insurance on it.
 
P

peterhyper

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Try and get a van asap

Turning up in ur dads estate is not a good look!

Dont bother registering a company, go sole trader at the moment and save on accountant costs
I disagree regards turning up in an estate doesn't look good. I only do domestic work and haven't had a van for many years, and I don't think it matters at all to the customers whether you turn up in a van or an estate car. What's more important is how reliable you are, how knowledgeable/confident you appear, and when you work for them that you respect their home and leave things nice and tidy, and of course you do good quality work.
 
Paignton pete

Paignton pete

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Esteemed
Arms
I disagree with everyone.

Do it your own way.

It's your business. You control it. You make your own right or wrong decisions.

A right desicion for you could be wrong for someone else and vice versa.

Good luck. I'm sure you won't need it though.
 
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