thinking about setting up on my own

Baybug · Mar 4, 2012

well im just looking at the lay out of a plan now ,i under stand it will be stress full and some times there will be no or little to no work and hopefully with the wife now working that will take abit off stress off money .
we will be moveing house first so we have all we need then i will hopefully go from there .
but i do feel that ive not got much bottle lol my brother is self inployed and has good days and bad days but is willing to jump right in a panic about problems later were i like to think about what could happen or go wrong .
does any of this ake sence

Zed · Mar 4, 2012

Yes. I'm the jump right in and see how it goes type. I could sit and put myself off doing anything on paper. Sometimes you haven't really got a choice though which helps with descision making...

lost-en-france · Mar 5, 2012

Three years ago I spent 2 days clearing brambles for 10 euros a hour ,it was my first contact over here ,it was dam hard work.. later they had me back painting the house ,then doing the kitchen ..Then they told a friend and that`s how my empire started...

I just jumped in as well... ;D

Baybug · Mar 5, 2012

Well hopefully I can make it work , I wish I could just jump right in by with the wife and kids around I feel the need to bring in the money every pay day and at the min if there is no work I still get payed .
But hopefully I can get my plan together soon

Baydreams · Mar 5, 2012

ive been working that much lately that im getting sick of my compnay and what i do , i have thought about setting up my own ac company but failing that i really would like to repair and restore cars ,not even sure if im up to the job .
think its just one of those ideas im haveing .
would people even bring cars to me if i did setup doing this ?
or am i liveing in a dream world and should stick to what im good at

I would forget the car resto businesss right now if I were you. When you say 'ac' do you mean an air conditioning company? If you do then that's what I'd concentrate on right now. As an accountant (yawn, yawn) working for a few hundred small businesses, I know a few guys doing what you do who set up on their own. And they've never looked back and are doing well. It was easy for them to pick up work, seeing as they had built up many contacts in the trade during their employed years. I guess the same would apply for you. You may even find that your current employer would keep you going with subcontract work too, certainly in the short term whilst you were building things up, becoming established. That's the key to all this - becoming established. How could you possibly do that with restoring cars? It'd take you a good 3 years. How would you survive in that time?

I don't know anything about your circumstances but, if I were you, I'd be thinking of setting up the air conditioning business as your main activity. Then start building up the car resto business on the side. Probably, in 3 to 5 years, you might have become established enough in the car resto business to concentrate on just that. If that were the case, you could then sell your air conditioning business.
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Zed · Mar 5, 2012

Baydreams - do you have restorers on your books? Do any of them make any money?

Baydreams · Mar 5, 2012

Baydreams - do you have restorers on your books? Do any of them make any money?
Yes I do and no, they don't make any money. It's a very tough trade. That's because they're lumped in with general bodyshops and, to a certain extent, are governed by what general bodyshops charge (who also do restorations of course). In turn, a lot of what bodyshops charge is governed by insurance companies, who are ruthless when it comes to setting hourly rates. Thousands upon thousands of bodyshops have gone under, up and down the UK, especially so the small one man band outfits, who simply can't compete against the larger firms.

So, I'd say stay well away. If you must, try restoring vehicles on the side and see how it goes. But if you're thinking of setting up a business in these times, I'd at least say stick to what you know best. Air conditioning.
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Baybug · Mar 5, 2012

ive been working that much lately that im getting sick of my compnay and what i do , i have thought about setting up my own ac company but failing that i really would like to repair and restore cars ,not even sure if im up to the job .
think its just one of those ideas im haveing .
would people even bring cars to me if i did setup doing this ?
or am i liveing in a dream world and should stick to what im good at

I would forget the car resto businesss right now if I were you. When you say 'ac' do you mean an air conditioning company? If you do then that's what I'd concentrate on right now. As an accountant (yawn, yawn) working for a few hundred small businesses, I know a few guys doing what you do who set up on their own. And they've never looked back and are doing well. It was easy for them to pick up work, seeing as they had built up many contacts in the trade during their employed years. I guess the same would apply for you. You may even find that your current employer would keep you going with subcontract work too, certainly in the short term whilst you were building things up, becoming established. That's the key to all this - becoming established. How could you possibly do that with restoring cars? It'd take you a good 3 years. How would you survive in that time?

I don't know anything about your circumstances but, if I were you, I'd be thinking of setting up the air conditioning business as your main activity. Then start building up the car resto business on the side. Probably, in 3 to 5 years, you might have become established enough in the car resto business to concentrate on just that. If that were the case, you could then sell your air conditioning business.

thanks baydreams that was very helpfull ,i will be sticking to what i know best as there is money to be made in the trade once setup , like you have said hopefully with the contacts ive made within the trade i should get work .
i really want to do this but i dont want to rush it along .

you made some very good points that i will take on board thanks again
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thinking about setting up on my own

Baybug

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thinking about setting up on my own

Baybug

Zed Gradually getting grumpier

lost-en-france

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Zed Gradually getting grumpier

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