GOING IT ALONE!!

[mike-reid]

hi everyone

If you have read my post ''Are there any jobs out there?'' you will have gathered that I am gonna go self employed and be my own boss.

This decision has come about because of the encouragement from all of you folks on here, in the HOPE that there will be enough demand for the services on offer. This thread is going to be the blog of it, and will have details on what i have done so far, what i plan to do and how it has turned out.

I hope you like it and if you feel like giving me some constructive criticism or wise advice, please do so. if you think im about to drop a rite clanger, throw in the anchors to stop me!

So, today I have designed the poster/ flyer to start advertising from this weekend. on sunday i am going to a carboot to have a stall with posters and flyers on it to try to drum up a load of quotes to kick things off!!

for the rest of the week i will be fettling the tools i have been given off danny, getting them ready to press into action!

 

[the_g_ster]

Nice one Mike, look forward to reading it.

Best of luck too.

 

[BradNaylor]

I wish you the best of luck, Mick. I'm sure many people would love to do the same thing and will monitoring your progress closely.

I kind of envy you. The early days of setting up a business from scratch are the most exciting - just don't spend money on anything you don't really need.

I'll try to help as much as I can. Feel free to PM me if you need any specific advice.

Cheers
Brad

 

[mike-reid]

thanks brad, glad i have a some one i can turn to that has experience of this! expect some PM's

Gster, thanks

 

[jimi43]

Good luck Mike. You are a very motivated guy....a fine example to us all!

One of the best books I ever read about planning self employment was called "Write an Inch".

It was in the day of paper only and was meant to signify planning of what you are going to do with regards to research, finanical planning, possible grants, ideas and action plans.

You will be surprised how, just writing things down and thinking logically for 30 minutes each day sets you on the right track to avoid possible pitfalls.

These days...this "blog" would represent that and have the added advantage that research now means a huge lot more...with lots of "advisors" and mentors here.....

Great idea the blog....keep adding to it constructively and do what you have been doing...listening to everyone...deciding what suits you best and taking it on board!

Good luck mate!

Jimi

 

[Chems]

I've recently set up a site and turned my hobby into a secondary employment, I'm super busy and making a good amount of profit. Fitted furniture is where the money is I believe.

 

[Dibs-h]

I've recently set up a site and turned my hobby into a secondary employment, I'm super busy and making a good amount of profit. Fitted furniture is where the money is I believe.

I think the work is definitely there, as long as you are professional in your approach and deliver the goods so to speak and the customer is satisfied.

A lot of mates\folk I know want stuff doing - but I'm saying no to one and all, what with the workshop and Wifey\Kids wanting the house back (finished), i.e. all my "junk" out of the house.

I'm sure folk on here will give you a hand with how long stuff should take\how to price up, especially if you've never done it before. It would be a shame and dis-heartening to loose time\money on the 1st lot of jobs.

Dibs

 

[mike-reid]

would that not be the learning curve? my pricing structure is going to be along the lines of;
half day (4.5 hrs) £45
full day (8 hrs) £85
obviouly for the ''put me a shelf up'' or ''sort a skirting board'' out type jobs are hourly as a minimum of 1 hour@£15. do these seem fair?

for fiited items, well thats a whole diiferent ball game and will be seeking advice on here.

thanks for the warm wishes guys, it is really making this seem a little less daunting!

 

[WoodAddict]

I'm sure others will be along with more accurate advice but my first impression is that those rates seem a little too cheap to me. You need to be competitive to get your "foot in the door" so to speak, but some people can also be put off if you are too far under everyone else. They adopt the " to good to be true" attitude or "he can't be much good - he's cheap!"

It's a difficult one to get right.

 

[Dibs-h]

would that not be the learning curve? my pricing structure is going to be along the lines of;
half day (4.5 hrs) £45
full day (8 hrs) £85
obviouly for the ''put me a shelf up'' or ''sort a skirting board'' out type jobs are hourly as a minimum of 1 hour@£15. do these seem fair?

for fiited items, well thats a whole diiferent ball game and will be seeking advice on here.

thanks for the warm wishes guys, it is really making this seem a little less daunting!

I think Brad said it somewhere - don't show the "working out" to the customer - i.e. 3hrs @£15 per hour. Just tell the customer it's £45.

I think in the early days - you may need some guidance on how long some tasks might actually take. You also need to factor in getting there, unloading, getting set up, (then doing it), dismantling\putting stuff away and them loading back up. These things all take time.

Dibs

p.s. 8 hours £85 - don't do that. It should be around £150 per day. Look at it this way - jobs require tools, which cost and have a finite life (car included), who's paying for them? 'Cos at £85/day - it looks like you are - i.e. subsidising the punter.

 

[mike-reid]

I am trying to think of the type of clients I will have in my immediate geographical area, their incomes and funds likely to be available. If the locals near me are as skint as I am then I rekon its a good price. Dont see how I can charge alot before I build a good reputation.

If I am well off here though, please put me straight

I have my first posters up in B&q, local Morrisons and some local offices and shops already. Only been put through a photocopier and are very simple, but so far my costs are:

NIL

Cheers all

 

[mike-reid]

I think Brad said it somewhere - don't show the "working out" to the customer - i.e. 3hrs @£15 per hour. Just tell the customer it's £45.

I think in the early days - you may need some guidance on how long some tasks might actually take. You also need to factor in getting there, unloading, getting set up, (then doing it), dismantling\putting stuff away and them loading back up. These things all take time.

Dibs

p.s. 8 hours £85 - don't do that. It should be around £150 per day. Look at it this way - jobs require tools, which cost and have a finite life (car included), who's paying for them? 'Cos at £85/day - it looks like you are - i.e. subsidising the punter.[/quote]

ah, of course, i forgot that. duly noted and have given myself a skutch on back of the noggin to make it sink in.

ta

 

[The Shark]

Hi Mike,

I can't offer you any meaningful advice, as it is not an area I have any experience in, but I wish you the best of luck and hope it goes well for you :lol:

Malc

 

[petermillard]

Mike

Like everyone else, I wish you all the very best with this new venture. If you don't mind a bit of advice from someone who's been self-employed all their working life, and who started a very similar business ten years ago...

Not to knock your idea of handing out leaflets at a boot fair, just remember that folks who frequent boot fairs (and I've bought and sold at a fair few myself) are generally either looking for bargains, or a bit on the thrifty side - esp. in Yorkshire lol. So by all means do it, but do other leaflet drops as well.

Re. your prices, I agree that you have to feel comfortable with what you charge, but those rates are low by any standards. To give yourself a bit of perspective, have a look at what B&Q charge for handyman services in your area, I think you'll be surprised...

I've always priced my hourly rate at around 25% of my day-rate, with the first hour priced slightly higher. That caters for small jobs (makes them worthwhile) and also small jobs that take a little longer than planned; anything longer than a couple of hours and you should be getting into a half-days work.

And finally, don't forget that people will come to you to get jobs done either because they lack the skills to do the work, or the time - or because they just don't want to do it; your services are valuable, so don't sell yourself short by undercharging and overdelivering.

Best of luck. Feel free to PM me as well if I can help with anything.

Cheers, Pete.

 

[laird]

Like the others I think you're underpricing yourself. Remember you're doing it for a living, not a charity, and you've got to pay for pensions, tax, days off, sick leave, transport, etc.etc.
I wish you all the luck in the world, enjoy.

 

[mike-reid]

whats the score with ratedpeople.com?

have googled and more about it being a scam than good came up...

 

[JWLeaper]

Ship Mate

Your prices are too low (IMHO). I've just paid £80 (which included all materials and non-stop coffee) to a plasterer for 4.5 hours work. These were, what he calls, village rates for those of us in the same village. I got his details from behind the bar in my local - everybody happy.

Good luck.

John

 

[Scrums]

sick leave

no such thing when you're self employed

...many years ago I worked for the civil service.....I could manage about 5 weeks sick a year without getting into the deep smelly stuff, I've been working for myself for the last 20 odd years and have had just a few days - it just don't happen !

Best of luck Mike....don't worry about the underpricing yourself bit too much, you'll soon start to learn what the market will bear and get those prices right.

Chris.

 

[OPJ]

I'm sure Brad has said this before, but you really should be aiming for £200 today in the workshop. It should work out between £20-25 p/h. Don't start out too cheap or you'll run in to trouble (perhaps even lose clients and recommendations) when you have to bump your prices right, later. Even if you can "afford" to undercut the competition.

As for second and first-fix jobs, I think £15 p/h sounds about right (it's probably the average for what a carpenter would charge, depending on your area) - though, I'm willing to be told I'm wrong, if you should also consider the overheads of running a workshop, in this situation...?

As Chems said; fitted furniture (as well as kitchens and joinery) is where you're most likely to find regular work. The average person just cannot afford the true value of bespoke fine furniture. However, if you get the opportunity to exhibit one-off, original bespoke pieces at well-publicised exhibitions then, provided you can afford the expense, it might be worth a shot. :wink:

Best of luck to you. There's nothing like working for yourself, or so they say...

 

[Karl]

Mike - looking forward to reading of your progress.

Only you can decide what your charge rates should be. As you say, it depends on how much money the people in your chosen area have - no point having a daily rate of £150 if people can't afford it! Equally, set it too low and people will be suspicious.

If your area won't support a higher daily rate, move (workwise) to an area that will! Better to travel 1/2 hour and get a better rate of pay I say.

You need to allow for your standard of living PLUS your business overheads - a few thou a year for travelling, advertising, insurance, tooling etc. Say £200 per month.

One final thought - never insist on cash for a job. It looks decidedly dodgy. Take it if it's offered though :lol:

Cheers

Karl