how do you know when to make the transition from employed to self employed?

[southcoastboile]

I know theres no easy answer but I just wondered what sort of work load some of the self employed guys had before leaving the 9 till 5 job?

Did you know you had enough work to last you a couple of months?

or did you just decide to take the plunge and not know what was round the corner?

 

[hammers4spanner]

DONT DO IT !!! lol
No seriously in my case just walked out of very secure job and went onto site at first contracting and kinda picked up from there years ago . Dont think their is a set case scenario it either works or you end up skint and trying to get back on books .
I woul;d defo say tho that you need some plumb mates that you can help each other out if your quiet .

 

[clarky101]

Got laid off as my mate didnt want the last phase of a site, so just put the word around..six years later still plodding along...

 

[Puddle]

Maybe when you open your pay packet and there is a p45 inside

It is not everyones cup of tea,you have to be motivated and a hard worker,good communication skills and be prepared to be available when required ,if not may as well say employed and do a few barrow jobs here and there to top up for holidays,cars ect

If you are looking to start self employment with a few months work on the books ,you will always be employed

I went self employed in the domestic market,as I was a hard worker and was buggered if I was going to line someone else's pockets with my hard graft

I could never go to work and potter about for 8 hours,doing just enough to fill my time sheet in,even if I wanted to,would drive me mad

Also being self employed you can tackle a wider variety of work

imho

 

[TBServices]

Don't do it in this climate. Wait.


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[Boilerbud]

If you are employed and do 9-5 I suggest you stay where you are!
Employed by large manufacturer and would have loved to do 9-5.

 

[southcoastboile]

If you are employed and do 9-5 I suggest you stay where you are!
Employed by large manufacturer and would have loved to do 9-5.

ok thanks for advice. Im getting so busy at the moment and I hate working for someone, have done 8am till 5.30pm then privates from 5.30pm till 9pm nearley every day for the last 3 weeks and worked weekends! Ive got jobs booked in Mon Tue and Wed after work next week and a power flush Sat. I know it could quite as easily drop off and I could have nothing but seems to be steady at the moment.

Guess theres no set time to go self employed but from what you have all said I will try and stick it out for as long as I can at my job

 

[lambchop]

Done s.e. in private domestic market for a while, loved it when single man renting a room, quiet time go on the lash, dont mind working wknds, took a month off went to Bali & Lombok

Now missus and 2 step kids, priorites change want a mortgage so wouuld love to have a steady wage (even if its less) so I can get on a propert ladder. Im in between doing subby work now

Before I was in Royal Marines, I left got injured so had to decide a career change and went for plumbing and gas as its challenging, interesting and the vast majority of tradesmen/ladies ar a good laugh and have the same mentality as mates in the marine corps

 

[scotty plumber]

I really do not know how self employed trades-persons are surviving at the moment and i have nothing but respect for those's who do it. I would love to be a self employed plumber but i know it will never happen as i cannot take any risks as i have a young family, house etc and i already struggle most months with a steady,decent paying job

 

[JCplumb]

I don't think you can predict when the right time is. It's always going to be a gamble.
I wouldn't have made the jump if I still lived with my ex and kids, that steady wage is just too reliable.

 

[darren bastin]

For me I had little choice , site work dried up 5 years ago. I always had a couple of days private work a week similar to what you have now. If you do not have big outgoings then your in a position to do it . Otherwise in this climate sit tight . I have two mates who are general builders fortunately they feed me work to make the week busy. Sounds like you will need to get a few contacts before going s/employed. It has taken 5 years yo get a steady loyal customer base.

 

[Leo21]

ok thanks for advice. Im getting so busy at the moment and I hate working for someone, have done 8am till 5.30pm then privates from 5.30pm till 9pm nearley every day for the last 3 weeks and worked weekends! Ive got jobs booked in Mon Tue and Wed after work next week and a power flush Sat. I know it could quite as easily drop off and I could have nothing but seems to be steady at the moment.

Guess theres no set time to go self employed but from what you have all said I will try and stick it out for as long as I can at my job

The other thing is you need to charge a lot more being self employed. Van, insurance, public liability, tools, gas safe membership, training, road tax, tax bills, national insurance, diesel. Lots to pay in other words. When your doing foreigners it's nearly all profit,you may be staying busy because your prices are lower. Don't mean to urinate on your chips.

 

[Deleted member 32524]

Do it!! There is never a right time. If you are prepared to always be open for business at all hours and have some sales ability you should be ok. Door chaps, leaflet drops etc all good ways of getting business in. Always go the extra mile and a tidy job, people will recommend you to others and it will build. Do not spend the money you get in, unless you are investing in the business. Try and build a wedge of money that you will not need to call on and use it for materials. Try to keep under the VAT threshold. I was employed and it was much easier and less stressful. I go to sleep most nights thinking about the next day and beyond. I now earn more than I used to, but I also work alot harder and sometimes want to give up, but I need to motivate myself which can be hard and btw do not expect help from anyone unless you are paying.

 

[deandive]

Do it, who wants to line someone elses pockets. You just need to dive in and get on with it its worth it in the end

 

[Barry98]

Do it, who wants to line someone elses pockets. You just need to dive in and get on with it its worth it in the end

Thread revival ?

 

[Destroyer2813]

Ha doubt he's still deliberating, what ya reckon bod

 

[deandive]

haha didnt see the date trying to make a usefull contribution before I start badgering for access to gs and other restricted area lol

 

[Barry98]

So it's all about your post count isit hmmmmmm hope you've got 60k on your last bank statement or your not getting in

 

[deandive]

never keep that kind of money in the bank but my bed is awful lumpy

 

[stevetheplumber]

never keep that kind of money in the bank but my bed is awful lumpy

so your the one that the taxman wants to find give yer self up mate give us all a break

 

[southcoastboile]

went S.E about 7 months ago. Definitly dont regret it.

 

[Leo21]

went S.E about 7 months ago. Definitly dont regret it.

Give it time.

 

[southcoastboile]

Give it time.

Ha ha, I know thats not that long but even so I've done loads of days were Ive started at 8am, got back at 9pm and then done paperwork tilll 12 all to get up and do it agin the next day. Ive hardly ever finished before 5 yet! there are days when I get so stressed out with it all but wouldnt change it

 

[AMGasServices]

I've got an idea change your current contract to part time atleast you will have an sustainable income. And in the rest of the time you can focus on your business. As the business grows you can leave your job.

 

[R1CKY]

never keep that kind of money in the bank but my bed is awful lumpy

Must be to live in Pontyclun!!!

 

[southcoastboile]

I've got an idea change your current contract to part time atleast you will have an sustainable income. And in the rest of the time you can focus on your business. As the business grows you can leave your job.

Ive already left my job. Took a couple of people on full time as well. The thing ive found is you can make decent money on your own but when you take someone on its hard to keep your prices the same and still earn decent money.