As it really been a year

[GMES]

As the title says, I decided 1 year ago to take the plunge and go solo. And what a great ride it as been so far. Some people said I was mad to try it in the middle of a recession, well to those people " what recession ". order book is looking healthy, plenty of repeat work, good customer base and the future is looking good. it is also nice to have a place like this to talk to fellow sparks and have some banter. So here's to the next year. Happy anniversary me arty:

 

[RyanCheetham]

Congratulations. I went self employed in March last year, and i have had similar results. Just shows that hard work is the key.

 

[GMES]

Cheers Ryan your spot on a bit of hard work and self belief goes a long way, good to hear your making it work pal.

 

[topcat]

Been self employed since october things still building up but could do with more work at times

 

[Octopus]

Been self employed since october things still building up but could do with more work at times

It could take 2 - 3 years to build up a new business.

I'm in my 4th year and things are great.

 

[GMES]

Topcat it will come in. I had a couple of scary months at the start but once your name and reputation start spreading then the phone will ring. I was quite lucky in the sense that I had been in the trade 10 yrs + so had made a lot of contacts during that period. plus I mainly do industrial and commercial so there is always a demand for the 3 phase work etc.

 

[Amp David]

It could take 2 - 3 years to build up a new business.

I'm in my 4th year and things are great.

Yep, same here

 

[Octopus]

The clever bit is to have as many clients as possible and not be too reliant on a couple of big clients!

 

[GMES]

Murdoch that's so true I am of the same thinking I've got some large companies on books as well as some really small companies little family run engineering firms etc . and I personally treat the small ones with just as much respect and effort as the large ones. and the little ones tend to pay a lot quicker than the big boys.

 

[topcat]

Guys thanks for the views from people who have been going a bit or alot longer than me I know it will take a while to build and it is geting better a bit at a time so hope it keeps going thanks again TC

 

[Jay Sparks]

Well done fella!!

Ive been self employed for about 2/3 years. For me the story is different from what the rest have said above.
I can go 2/3 weeks and not have any work at all. Then, when Im bricking it, wondering how Im gonna pay the bills, I get a few days of work that just get me by. I wont go into too much detail about it because I dont like to see grown men cry..lol
But lets just say, over the last 3 years, I have NOT made more than £20,000 gross!!! Obviousley this is not the exact figure but it gives you an idea of how hard its been!!! And this is with the odd few months of subby work.

But Ill keep cracking on and hopefully Ill get there like you lot!!

 

[topcat]

Jay I have a few weeks where I have no work have few days a week sub work and trying to build up so dont need it keep going mate like you I have to build up a client base to keep me going.

 

[MDJ]

Congrats, in my 12th year now, the first 2 are the hardest, good luck bud.

 

[Jay Sparks]

Jay I have a few weeks where I have no work have few days a week sub work and trying to build up so dont need it keep going mate like you I have to build up a client base to keep me going.

I thought I had a few days a week working for another sparky....I did 5 days for him over 3 weeks....I thought this was the start of a good thing.....earning a regular wage and still having 3/4 days a week to do my own work..but unfortunatley, I was taken for a mug and the lad didnt pay me for 3 of the days....and I havent herd from him for over a month now!! But ya live and learn.
Ill keep going cos I like being my own boss..lol plus the days when im not working I can go fishing..lol

 

[topcat]

Jay know what you are saying I like been my own boss my part time work is paid paye so pick up packet at end of each week and they dont mind the days I do as long as they get their hours so every one is happy people who dont pay dont get me started .

 

[GMES]

Congrats, in my 12th year now, the first 2 are the hardest, good luck bud.

MDJ cheers and well done to you mate 12 years is good going, hope you enjoy the next 12 years

 

[JD6400]

When I first went on my own and opened the first bank account , the bank gave me a " How to succeed in business " book written by some top consultant bird . I only read a couple of pages before deciding it was a load of b----ks , but it did say that a new business will on average take 3 years before it enters the black and returns good profit , and I have to admit that when I started as a sole trader it was true , but it was also true when I then changed to a partnership and to some extent bizarrely enough again true by just going from partnership to LTD !

 

[iamelectric]

i am not being nosy and dont want to know anyones profits but say your a spark on about 30 grand a year (not me) , is it worth while starting up for yourself , is there a huge financial difference after a few year trading

 

[Richard Burns]

i am not being nosy and dont want to know anyones profits but say your a spark on about 30 grand a year (not me) , is it worth while starting up for yourself , is there a huge financial difference after a few year trading

I would align myself with Jay Sparks level, I am still waiting to make a profit after three years!

But I am lazy!:wink5:

 

[JD6400]

i am not being nosy and dont want to know anyones profits but say your a spark on about 30 grand a year (not me) , is it worth while starting up for yourself , is there a huge financial difference after a few year trading

Yes and no ! It ultimately stops with you , be it profit or loss ! We have staff that can earn more than me or my other director , but at the same time I have at least a month off at Christmas and work from Tuesday morning too Thursday night and even then I may not bother some weeks or just do one day instead , it all depends on the project size or how many we have on at the time , but because the office and yard is 130 miles away from where I now live I try to do at least 18 hour days when I am there ! When things go well , you are on top of the world but on more occasions than I care for , it may go ---- up in just the space of a phone call and you go from making a profit on a job to making maybe a £10,000 / £20,000 loss . There is nothing like being your own man , and if you have enough fire in your belly , you will make it in the end !