Going self employed from BG

[rjt1986]

I'm thinking about going self employed after working as Service and Repair engineer at BG for 10 years. Advice please!

 

[ShaunCorbs]

Need to have 20k spare for Costs and tools etc

 

[Chuck]

Advice please!

Get a notebook and then type 'self employed' into the search box for this site and spend a couple of hours taking notes. Lots of excellent advice / discussion on exactly this topic.

 

[Scott_D]

Do you have your own tools, van and gas safe registration?
My customer base or starting from scratch?
There seems to be lots of gas safe business out there at the moment

 

[WC1]

It can be tough, but if you've got what it takes there's nothing else like it. The only way to know if you've got what it takes is to do it. You've got quals and experience - you're hitting the ground running. You need - customers.

 

[Murdoch]

Cash, cash , cash in BANK

list everything you think you will incur as costs running your business (a van if you own 1 including fuel will be about £250 per month average)

Business account
Notify HMRC


Accept year 1 you make very little profit

When you start making money, save 30% for every £1 over £1K you make for tax and NI - I buy premium bonds and sometimes win

AVOID builders and estate / lettings agents - they are very bad payers and the last thing you need when you start out is bad or slow payers

The more customers you have, and assuming they are happy, the more recommendations you will get - but that will take time to build up - maybe 3 to 4 years

"make friends" with other trades people - so you can scratch each others backs, and pass leads to each other

Website - BUT beware most enquiries from websites are bottom feeders looking for the cheapest prices

Business cards with your home address on

Logo'ed shirts / sweaters

AND remember, selling yourself cheap means you could easily end up being a very busy POOR man

 

[EvilDrPorkChop]

Cash, cash , cash in BANK

list everything you think you will incur as costs running your business (a van if you own 1 including fuel will be about £250 per month average)

Business account
Notify HMRC


Accept year 1 you make very little profit

When you start making money, save 30% for every £1 over £1K you make for tax and NI - I buy premium bonds and sometimes win

AVOID builders and estate / lettings agents - they are very bad payers and the last thing you need when you start out is bad or slow payers

The more customers you have, and assuming they are happy, the more recommendations you will get - but that will take time to build up - maybe 3 to 4 years

"make friends" with other trades people - so you can scratch each others backs, and pass leads to each other

Website - BUT beware most enquiries from websites are bottom feeders looking for the cheapest prices

Business cards with your home address on

Logo'ed shirts / sweaters

AND remember, selling yourself cheap means you could easily end up being a very busy POOR man

Some great advice here.

 

[snowhead]

And not forgetting they'll be no click of a button and the spares all appear at the local Sorting Office or pick up point (if they still do that.)
You'll have to source, pick up and deal with returns for all your spares if S/E.

Did BG stick with the agree to New Terms or you're out policy?

 

[Gasmk1]

Remember there is no such things as foreigners or mates rates when you work for yourself make sure you work out a good pricing system.

 

[rjt1986]

Get a notebook and then type 'self employed' into the search box for this site and spend a couple of hours taking notes. Lots of excellent advice / discussion on exactly this topic.

Been doing that for weeks now! This forum is a godsend

 

[rjt1986]

And not forgetting they'll be no click of a button and the spares all appear at the local Sorting Office or pick up point (if they still do that.)
You'll have to source, pick up and deal with returns for all your spares if S/E.

Did BG stick with the agree to New Terms or you're out policy?

Yeah those are my main concerns, I've written out business plans, budgets, worked out my hourly rate etc.

But I'm not used to how the real world works outside of using my tablet and having it in a locker by 6am the next day!

We rejected their newest contract offer, which was the same as the original with a few sweeteners. But it is still an awful contract, not worth working for them. So we are back on strike until they drop the fore and rehire. But they won't so most of us will have to sign it under duress on April 1st or be fired and have no redundancy pay.

 

[rjt1986]

Cash, cash , cash in BANK

list everything you think you will incur as costs running your business (a van if you own 1 including fuel will be about £250 per month average)

Business account
Notify HMRC


Accept year 1 you make very little profit

When you start making money, save 30% for every £1 over £1K you make for tax and NI - I buy premium bonds and sometimes win

AVOID builders and estate / lettings agents - they are very bad payers and the last thing you need when you start out is bad or slow payers

The more customers you have, and assuming they are happy, the more recommendations you will get - but that will take time to build up - maybe 3 to 4 years

"make friends" with other trades people - so you can scratch each others backs, and pass leads to each other

Website - BUT beware most enquiries from websites are bottom feeders looking for the cheapest prices

Business cards with your home address on

Logo'ed shirts / sweaters

AND remember, selling yourself cheap means you could easily end up being a very busy POOR man

Thanks for your great advice, have you tried MyBuilder/corgi etc for work?

 

[rjt1986]

Remember there is no such things as foreigners or mates rates when you work for yourself make sure you work out a good pricing system.

Have you got any tips on pricing at the moment? Do you charge a fixed fee for something like changing zone valves, recharging vessels, pumps etc? Or do all that hourly?

 

[WC1]

My builder is a bit of a race to the bottom imo.
I kickstarted things with checkatrade for a couple of years. Hardly any work comes from gas safe reg.

 

[EvilDrPorkChop]

Have you got any tips on pricing at the moment? Do you charge a fixed fee for something like changing zone valves, recharging vessels, pumps etc? Or do all that hourly?

Minimum £100 labour for any boiler repair that involves any parts.

Get your servicing prices right too. Anything below £70 is too cheap IMO.

 

[WC1]

Varying greatly depending upon location and time of day / day of week

 

[Gasmk1]

hourly rate I used 1st hour then by the half hour. You can try fixed price repairs but you need to work out if it’s viable

 

[Murdoch]

When it comes to pricing, remember you won't be working (paid) for 48 weeks of the year and there's no such thing as paid holiday or sick leave either

 

[EvilDrPorkChop]

If you don’t mind us asking, what’s the going rate salary as a BG engineer these days? Just out of interest.

 

[rjt1986]

My builder is a bit of a race to the bottom imo.
I kickstarted things with checkatrade for a couple of years. Hardly any work comes from gas safe reg

If you don’t mind us asking, what’s the going rate salary as a BG engineer these days? Just out of interest.

My actual base salary is 35.5k but because I get a non pensionable suppliment and London weighting it's actually 39.5k as salary. The rest I earn in weekends, on call, sales, OT and rest day servicing.

That's on the current contract, so you can see why we are fighting for it.

The new one takes away the non pensionable suppliment and London weighting. Also the rates of pay for the extras is massively reduced. We will also be doing 3hrs extra a week and have a new performance metric we have to hit or else we loose out on pay and holiday.

Also the sick pay and holiday is being changed for the worse. All in all not worth being there anymore. I've seen jobs online for independent firms offering better.

It's a shame because I've had 10 good years, you get the occasional *******, but it's easy money once your in, almost impossible to get rid of you...well until now.

 

[Murdoch]

My actual base salary is 35.5k but because I get a non pensionable suppliment and London weighting it's actually 39.5k as salary. The rest I earn in weekends, on call, sales, OT and rest day servicing.

That's on the current contract, so you can see why we are fighting for it.

The new one takes away the non pensionable suppliment and London weighting. Also the rates of pay for the extras is massively reduced. We will also be doing 3hrs extra a week and have a new performance metric we have to hit or else we loose out on pay and holiday.

Also the sick pay and holiday is being changed for the worse. All in all not worth being there anymore. I've seen jobs online for independent firms offering better.

It's a shame because I've had 10 good years, you get the occasional *******, but it's easy money once your in, almost impossible to get rid of you...well until now.

don’t underestimate the value of the employers pension contribution either

 

[Chuck]

don’t underestimate the value of the employers pension contribution either

Pensions are a very big cost at the moment.

IMO one of the first things someone setting up as self-employed needs to do is get an accountant who does small business work. Pension provision should be an early topic for discussion. Also, if you are hoping to sell the business when you retire that needs planning too.

 

[EvilDrPorkChop]

My actual base salary is 35.5k

It'll take a lot of work and graft to earn that after all your running costs. Not saying it isn't doable, but doesn't sound like your on a bad earner either at BG.

 

[Chalked]

after taking costs like van, public liability, fuel, holiday pension pay, your own gas safe etc. You will need to make about £50k profit a year to earn that.
take your odd jobs for mates and BG looks a decent place to stay. Even if it’s not as good as it was.