Considerations To Make Setting Up As A Self-employed Trades Person
So, you’ve completed your qualifications in a particular trade and you’re raring to go. YOu have two options, search for employment within an already existing company or go in alone and start a business as a self-employed tradesperson. Although both can be rewarding becoming self-employed is often the overall goal for any tradesperson. It can be a stressful and anxious time, with so many considerations to make but it could be worth it in the long run.
Some of the considerations you should make when setting up as a self-employed tradesperson include:
The Current Market
It’s important to understand how the current market is running when considering starting any business. As a self-employed person, it’s even more important to conduct extensive market research. You should look at areas such as your competition, the need for the service and price points of the services you will offer. You’re more likely to succeed if you can offer competitive prices for a good quality service. When looking at the current markets you should be planning how you’re going to get your business out there. The most popular way that self-employed people start out is by using platforms such as Facebook to host a business page. As a tradesperson, it’s also wise to get yourself on sites like check a trade.
How You Will Fund Yourself
It can somethings be an expensive venture to get set up and equipped ready to trade in any trades such as electrics, gas or plumbing. You often require special tools, a vehicle and need to be registered to a regulations board such as the gas safe register, in order to complete work lawfully. These can all cost a pretty penny, especially when you are having to buy absolutely everything in order to get going. It could be that you have preempted this and put some savings to one side but if you haven’t it could be wise to have look at other ways you can fund yourself such as a loan or government grant.
Your Tools, Supplies And Transport
For the majority of trades jobs, you will need to have the right tools for the job. It’s advisable to kit yourself out before you start to trade however, there are bound to be some tools that you find you need as you trade more. As for supplies, it’s a good starting point to have some supplies to hand to store in your van but most tradespeople have an account with a trades counter and buy as they go alone. After all, you’re not going to know what business you’re going to receive and what jobs you will be completing. It’s a good idea to get yourself set up with a van once you are trading such as the ones you would find at https://www.southerncommercialsales.co.uk/. Your van will not only be your transport to and from your jobs it will also serve as much needed storage for your tools and supplies. Make sure you get business insurance and are covered for items left in your van overnight.
These are just three of the area you should be considering when setting up as a self-employed tradesperson. Do you have any others that you can share in the comments section below?