i`v taken the plunge

[eggplant]

If you want some excellent biz cards and at a VERY good price, let me know and I'll pass on the details of the people I get mine off.
As for payment etc, I dont know if this is applicable in your trade, but almost anything I buy in special is pro-forma - i.e. they cough up first otherwise I'm stuck with the gear or a restocking fee.
Good luck

 

[Vic Spanner]

1. Keep on top of the paperwork.
2. Don't work seven days a week.
3. Don't take on more than you can achieve.
4. Look after your customers.
5. Always be on time.
6. Don't blame other tradesman or criticise their work.
7. Look after your tools, and don't lend them out. Ever.
8. Don't rip anybody off.
9. Don't take any sh*t from anyone.

Can i add to that
10. Pay the tax man on time (Dont upset him ????)
11. Put some pennies away each week in a high interest account

 

[noseall]

always declare cash payments.

 

[2scoops0406]

Yeah, will third the thing about holidays, I'm not a plumber, but the first year I worked for myself I took 3 days off during the year, 'cos time is money. It was a bad mistake.

 

[Thermo]

agree with all the above, especially time off and holidays. Book some holiday and stick to it. Its easy to say oh ill just do that little job for mrs so and so and suddenly the whole weeks gone. Keep sundays to yourself and the family.

couple of other points

1:- get a decent accountant (my ramblings on this are well documented) Dont pay the tax man anything more than you have to (online payemts etc) keep every receipt etc and claim everything you are entitled to. They will svae you more money than they will cost. Always pay them on time and if you go vat registered ditto!

2:Get in with some local suppliers. they will do you deals once they get to know you and start to recomend you as they soon work out who is decent and who is not. Its not worth running around between several suppliers because A does his washers 2p cheaper than B. time is money

3: If you advertise, ask people where they got your number from when they contact you for a quote. Put the phone down on cold callers selling advertising. they offer the moon, cost the earth and give nothing. I read an article by Anita Broderick (body shop women) who said dont waste money on advertising too much these days. Theres too much out there. Pick tried and trusted ones. Also think about how far you want to travel. Theres no point paying for an add in a county wide paper if you dont want to travel that far.

4: Be polite, honest, punctual and tidy. Let people know if you will be late and always tidy up when you go, they will notice that more than the job you do!

5: Always Always Always do a quote on paper, even if its only for a £25.00 job. Have some basic terms and conditions and Always Always Always get them to sign them before you do the work.

6: There are always people out there willing to give new businesses a leg up. Always explain to suppliers, printers etc that you are a new business. It is suprising what discounts and help they will give to earn your loyalty.

7: Keep a seperate bank account for the tax man, and always put a little more in it. Its a noce feeling knowing youve got the tax bill covered, and a little extra in there.

8: Speak to the bank and arrange any free banking you can. they will be more than helpful to get your new business.

9: In any business there is always another hurdle to get over to go to the next level eg buy a new van (can you afford it) take on a labourer (can you commit to it etc etc. Always consider it and look at all the options. Whenever ive done it ive always worried about it and then 6 months down the line you think, god how did i ever do without it etc. Its a risk, but taking it in a calculated way makes the difference between a succeding business and one that plods on.

10: Enjoy it. Thats why your doing it. Enjoy the freedom of chosing who when and where you work. If you dont like the look of a job walk away (you may be wrong, you may be right, but id rather be wrong and have walked away then the other way around). Its hard work and sometimes you'll wonder why your doing it when youre bogged down in paperwork. Other days you'll do a job in half the time, get home early and look at the cheque and think "i earnt that and its all mine" Its a nice feeling.

Good luck

 

[Registered Gas Man]

While your chasing your arse on a non-profitable job, your more than likely losing out on a profitable one, a wise old plumber once told me.

I suppose he meant don't just take a job because you have nothing else on, something good will come along.

 

[Thermo]

my father in law always says any fool can get out of bed for nothing in the morning!

 

[hairyjon]

Good Luck Bud, There's some good advise here1 It's a tough old world HairyJon

 

[noodlz]

Excellent advice all round. A good accountant can pay for himself in the money he saves you.

Keep contacts of other good plumbers you could recommend if you've too much on, too far or its not the job for you, etc...same goes for other trades, like a sparks...they could get you some work in return. If you get work through one source more than another reflect this in recommendations.

And make sure to keep on top of that paperwork!

Good luck

 

[hairyjon]

Excellent advice all round. A good accountant can pay for himself in the money he saves you.

Keep contacts of other good plumbers you could recommend if you've too much on, too far or its not the job for you, etc...same goes for other trades, like a sparks...they could get you some work in return. If you get work through one source more than another reflect this in recommendations.

And make sure to keep on top of that paperwork!

Good luck

Please note Noodlz use of 'good' accountant! Get references from his/hers other customers as there are some that really shouldn't be! No offence intended

 

[2scoops0406]

WRT the accountancy work, if you look around you'll probably be able to find an accountant who will be willing to take all your receipts etc and do your all your returns. When I got my accountant I stipulated that I wanted to do absolutely no paperwork, had to pay a bit more, but it was definitely worth it.

 

[noodlz]

Please note Noodlz use of 'good' accountant! Get references from his/hers other customers as there are some that really shouldn't be! No offence intended

A very good point. References are the best way to go.
None taken, hairyjon

Eddie M's right - if you just take all your receipts to some, they'll do all the number crunching and sort it out for you, which can be a huge burden lifted from your shoulders.

 

[Bamber gaspipe]

1. Work for someone else under their badge.
2. Make them commission & sign off the installs.
3. Only work cash in hand.
4. If possible while you are there try & get `extras` like re- running gas carcass if it is all in leaded pipework/ fit fires etc.
5. Make sure they have liability insurance.
6.F*******ck the taxman.

Works for me!!!

 

[eggplant]

INSURANCE !

Public liability insurance - you definatly need some, not sure what other insurance your trade will need, maybe indemnity but I couldnt say for sure. Shop around though, some want a fortune.

 

[longdogs]

get to know the price of parts, don't guess. They are always ten times more than you think. You work all week feeling pleased with yourself only to find that half the amount you earned has been spent on materials.