Advice on going self employed

Discussion in 'General Flooring Chat' started by jasonp, May 23, 2020.

  1. jasonp

    jasonp New Member

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    Hi guys
    Just looking for so advice really, I’m currently employed but my employer has said thereis a big possibility after the furlough scheme end that he won’t be to keep me employed. He has said he will be able to offer some work if I was to go self employed.
    So have you’d guys got any advice for someone who is looking at going self employed? Any advice or tips would be greatly appreciated. Thanks in advance
     
  2. merit

    merit Well-Known Member

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    Get a decent accountant


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  3. merit

    merit Well-Known Member

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    Sit down and work out your costs. Van, Insurance etc..what you will need to earn after tax and then split that into days so you know how much you need to charge each day


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  4. jasonp

    jasonp New Member

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    Thanks
     
  5. jasonp

    jasonp New Member

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    Thank you
     
  6. mickyr2

    mickyr2 Active Member

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    Make sure you've got enough work and got a bit money put away for when its quiet

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  7. Mark Henderson

    Mark Henderson Active Member

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    Although not in a position to go self employed myself it is something I am looking at in the future. Interested in the reply’s to this thread. Something I can’t figure out is the sole trader / Ltd company decision. Everyone I ask has a different response, any pros and cons in this area I would like to hear,

    cheers.
     
  8. merit

    merit Well-Known Member

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    Go sole trader until you get serious or to protect any assets. If your putting loads of money into a start up business you don’t want to lose your house if it fails so you go ltd.


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  9. J d clarkson flooring

    J d clarkson flooring Well-Known Member

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    Firstly if he is saying he is going to make you redundant then in the eyes of employee law he can’t then employ a sub contractor to carry out the same role.
    Is his work going to dry up so much, do you want to go self employed or are you being forced.
    How long have you been working for them etc
     
  10. mjfl

    mjfl Well-Known Member

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    Disagree, He can make you redundant then take you on as a subby, just can't work for them full time, so if you do go subby, then get some work elsewhere and start to get your own work too.
     
  11. mjfl

    mjfl Well-Known Member

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    I'm serious but I didn't go Ltd, unless you know me, then, I'm hilarious..
     
  12. merit

    merit Well-Known Member

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    Lol, same. I’m still a sole trader and will be as long as possible.


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  13. Distinctive Adam

    Distinctive Adam Well-Known Member

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    Self employed, go for it, just remember you are now free to work for whoever, find a back up and bounce between the two if needed
     
  14. Rugmunching

    Rugmunching Well-Known Member

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    Sole trader here to.
    If you can get regular work from a few firms when you start up then that will see you right whilst you build up your own customer base and building your own takes time.
    Dont think going into self employment is easy and straight forward, you can easily get let down by firms by a flick of a finger so be prepared and you pretty much have no firm ground to stand on if they do mess you about. You can argue the toss with them but dont get you anywhere and most of the time isn't worth it.

    Majority of firms you'll be ok but what I'm saying is that being self employed it's easier for them to just drop you like that. You just need to do your best and if you are brilliant at what you do then you will have no issues 99% of the time.

    Once you start doing your own work, building your own customers and getting your name around then you cant go wrong, all you need to do is remember its YOU that is in control of how it works out and it's you that has to maintain it, no good sitting on your backside waiting for the work to come in.

    Once you have your reputation out there then you are sorted, you'll start getting new customers ringing you from 'that job' you did for their sisters best friends neighbours!

    As said though, at the beginning be prepared to have times where you think you might have made the wrong decision and it seems quiet but dont stop there, put yourself out there, build a good rep and keep your head down and dont be that 'premadonna'

    Piece of P**s :D
     
  15. JB Flooring

    JB Flooring Well-Known Member

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    I’m self employed too and get plenty off work from one well ran family business so don’t need to do much for anyone else unless I really want the work. I’m only fit at the minute though don’t supply any materials myself. Do use fit and supply or just fit for a shop? Been in two minds whether I should get account myself as I have built up a good reputation over the last few years, but I also don’t want to fall out with the current shop I work for by selling materials to my customers I don’t know how he would stand with this? What’s your take?
     
  16. Rugmunching

    Rugmunching Well-Known Member

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    Aslong as you gain your own customers then you ain't stepping on anyone's toes but its bit awkward when you are fitting for the firm you fit for and their customer askes you for your number so they or their friends/family can go direct through you in the future.

    It's alright committing to the firm but what happens if they were to all a sudden suffer complications and have to shut up shop? Would you still be busy?

    It's always worth getting your own account even if you dont use it or atleast buy the odd bit here and there because one day you may need them quicker than you think.

    I once worked for a shop doing just their Lvt's and the customers who I fitted for used to ask me if they could have my number but the way I seen it was dont bite the hand that feeds you so I used to say they or their friends need to go through the shop for any future work. I could have got a lot of work but it would have ruined the relationship I had with the shop so I kept it separate. Suppose it would have put me in a different situation if I hadn't had the rep I built up whilst working for the shop but I'll sleep better at night knowing I havnt been sneaky or anything if that makes sense.

    The way I look at it is if you advertise yourself and put yourself out there, soon as you start getting the work in and your rep speaks for itself then it doesnt take long for the word to spread but if you start being sneaky behind the firms back then it can come back to bite you in the back side.

    If you are selling materials to your customers then that's your customers but if you are selling materials to their customers then I dont think your firm will be best pleased about it. You have your customers and they have theirs.
     
  17. Rugmunching

    Rugmunching Well-Known Member

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    I'll also add that I only do work for the shop because they pay really well and it's nice to mix it up and just turn up at an address and fit, it gives you a break from doing all your own measuring/quoting and paperwork
     
  18. JB Flooring

    JB Flooring Well-Known Member

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    Yeh exactly iv always been loyal to them and wouldn’t take there customers off them it’s more for my own customers and friends and family really. I always send mine to the shop and just do the fitting but whilst iv been off work iv been thinking really that’s my profit to be gaining because I go out so the measuring and everything all they do is go in the shop and select which product they want then I fit it. It’s just something that’s always been ticking over in the back of my mind. Cheers for the advice by the way
     
  19. Rugmunching

    Rugmunching Well-Known Member

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    Well in that case you need to be supplying your customers yourself because you could say you are doing all the hard work for the firm by sending your customers in their shop to buy their materials.
    You would most likely be saving your customers some ££'s aswell.

    Dont feel bad about it though, it's a good thing you been doing but these are your customers and you are missing out, you got Bill's to pay mate
     
  20. Rugmunching

    Rugmunching Well-Known Member

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    Does the shop know you send your customers in their? Do they slip you a slice? Apart from paying you for the fitting?
     

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