Making a new business

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Making a new business

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T & H Plumbing

Hi guys n sorry for the questions I'm asking but you seem to be a good bunch and I've had some good feedback while being here right I'm serious about starting my own business I will generally be a bathroom installer and do some heating ie rads, new pipes and general maintainance my questions are this

Looking at the Company house website when it comes to register a new company it asks

Ltd company
Sole Trader
Sub contractor

What I'm struggling with is what is my best route to take I don't really want to be a subby but if the needs rise due to no work I'll consider it, also what money outlay are we talking to register a new company??

Thanks Tunny :)
 
T & H Plumbing said:
Business plan/cashflow plan all completed now waiting for my business mentor to rip the pee out of it :)
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Good luck, but don't worry overmuch about the business mentor. Sure, listen to the questions, and ask yourself if you are happy with your answers. But if he/she is that clever, how come they aren't making millions running their own business? I have alway wondered about who lectures in business schools and colleges.
 
Good point Ray good point indeed

Its a she by the way and she did tell me the other day that she hadnt had a business plan get rejected for the grant yet lol bold statement
 
On your facebook page you have a business card that shows the web address to be www.t&hplumbing.co.uk

Web addresses do not contain special characters like the ampersand '&' so this will never actually be a valid address.

It doesn't reflect well giving out a web address that doesn't actually exist - It will make some question whether you are a competent or even legitimate operation.

Good luck with you grant
 
that page was opened last week TWD i know your point thou, i tottally forgot about the website on them, the card was designed as a template, im still waiting for my guy to start my website

thanks for reminding me ill alter it now :)
 
Sorry Alex but this type of meeting I often have to attend on behalf
of my investors in API 2006 - its a bit like everybody in a room with
blindfolds on hoping to touch another major contracter - they
are rubbish CHK
Alex Pelton said:
you should go to some local networking meetings. You get a chance to meet local small business's ie solicitors, bookeepers, accountants, web designers, printers etc, i rarely find others tradesmen there. You spend a couple of hours at the end or beginning of the day drinking coffee, picking their brains, making contacts and usually getting some business out of it. Oh and turn up in your work clothes you'll be the center of attention because everyone else is in suits.

PS don't sign up to join any group till your sure it will work for you.
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At 8 pages this is a really good post - I am on here to help and learn and I have done both
- so off you go and keep us updated with your progress - and we can do technical as well

centralheatking
 
Thank CHK

its alot better than my outside tap thread lol, i always find no matter how long you have done something you are always learning, doing the job is no problem its the business side i need help n advice with but with all the help im gettin ill be Richard Branson in the year 4027 :)
 
Really interesting thread guys. my own tip would be to stop overplanning and start doing. If it comes to it make a Facebook page, print up some business cards and put yourself out there. There's a lot of great plans out there that are never acted on - at the end of the day you just have to get up and go.

If you're plumbing put up a Facebook page, get a website, tweet and start putting yourself about. Getting exposure and going public will help motivate you with the rest. business is about ppl not paperwork at the end :)

that's my encouragement anyway
 
Just an Update to how im progressing

My Flyers landed on the doorstep today posted 4 thousand of um :cool3: weather was glorious but still have another 4 thousand to post :bigcry:

Work wise its been a bit quiet, got a full weeks worth of work booked in monday, apart from that ive fitted 6 outside taps lol and a leaking toilet also the possibility of a full bathroom install coming up, the word is getting out slowly but surly

Hopefully will have the van purchased and signed up within the month (fingers crossed)
 
Question about VAT

With me being a noob I have shot myself in the foot when doing a supply and fit job I never took into consideration VAT when quoting, what's best way of adding on VAT to goods I supply??

Take into consideration all the goods and add 20% ????

Last job cost me near enough £80 in me not allowing for VAT (won't make that mistake again)
 
T & H Plumbing said:
Question about VAT

With me being a noob I have shot myself in the foot when doing a supply and fit job I never took into consideration VAT when quoting, what's best way of adding on VAT to goods I supply??

Take into consideration all the goods and add 20% ????

Last job cost me near enough £80 in me not allowing for VAT (won't make that mistake again)
Click to expand...
You cannot charge vat if you are not vat registered.

Whatever you buy from a merchants the price you pay includes vat. You charge this price to the customer plus a markup pllus labour. If you so much as mention vat on one of your invoices you can get in a lot of trouble
 
I don't think I explained good enough, what I ment to say was

For instance I have the B&Q trade point book there prices in there are without vat, when a customer tells me for instance a bathroom suite they want and say its £200 would I add %20 on for vat then give the customer that price including mark up???
 
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