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BRNYS8558

Thinking About Starting Up

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Hi all, I know it's a common thread but Ive been with my current company for about six years now and am thinking of starting my own company, I don't really know where to go or who to speak to for business advice and also what I need personally to be "certified" I want to do things the right way because I see many people do it the other way.

As an example I see people saying how they need to purchase documents etc? Some people are NSI or Sia.

Please don't tear me to shreds people

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Good luck, certification as NSI or ssaib requires that you have been trading for so long and have more than one person or a buddy company and you pay an annual fee for the privilege, you can speak with them for more details about that side of things.

 

No one gets torn to shreds on here, unless you let them.

Edited by secureiam

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How do most people start out? Years ago a mate of mine just bought a van, he already had the tools and said that's me sorted, he maybe lasted two years?

I was thinking is it better to try and do part time, so maybe two or three days on my own then the remainder with my existing company.

Paperwork wise what is needed?

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There are several ways you can do it the main two are:

 

1. Buy an established co, to get the loan you will have to put your house up as collateral, depending on what you pay it will take 5 or 10 years to pay off. I would not recommend this method unless you have some experience about employment law, h&s, running a business, organising staff efficiently (Not as easy as it sounds), bookkeeping (Its alright having a bookkeeper but if you dont understand the figures yourself they will suss you out in seconds and have your trousers down) You need to be familiar with all the standards its expensive when you dont install something to the correct standards and you have to put it right. You should also be able to sell, and when I say sell I mean make a profit not a fiver (This is where most go wrong they see their boss selling a system for £800 they think they can do the same job for £400 as the kit costs £300 they end up taking longer than they thought the job goes wrong and they have to go back and it ends up costing them money) remember it costs around £30 for you to go anywhere and do anything thats phone, van, fuel, insurance, labour sick pay, holiday pay, time whilst your van is off the road, 

 

2. Become a subbie, the same rules above apply on a much smaller scale.

 

It can be done many people here have done it, many alarm co's are up for sale its a case of separating the wheat from the chaff its ok to buy a co thats not making any money so long as it has potential for making money, but as a beginner you need to be looking for one that is making money, they are much harder to find and much more expensive.

 

One of my ex-engineers is a subbie this week he is working on his house no work

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Or stay employed, put the hours in for a well paying company if it's the money that motivates you (we're all different) and enjoy your life in a more stress free way.


Nothing is foolproof to a sufficiently talented fool.


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Will your current co allow you to compete part time? That was the most stressful part for me until my business reached criticql mass. You need to work out what you do better than others and work out how to monetise that.

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Thanks for they replies guys, the reason for starting is partly because of money as I'd like to make a better life for my wife and kids but at the same time I want to accomplish something in life.

A standard day for me is either a straight day of callouts, system upgrades, new installs, more so doing callouts than the latter (since I moved from the install team) I do understand its bloody hard getting off the ground but I see people doing new installs including our subbies and then I'm there for a few days cleaning up the mess and them getting away with it.

Do a job once and do it well, if you hit issues as we all do, take the extra time to do It the right way, and with regard to putting in the hours for good pay, I'm not on a great wage when comparing on job sites.. I'm just loyal which I suppose is a flaw sometimes

My boss is a great guy so that about me working part time was an assumption, other guys have done it but who knows..

It's all of the admin things I don't deal with every day that I know I take for granted as we have a whole office of people doing there own jobs so doing it all yourself does seem like a ball ache, I suppose it'll be on a small scale at the start though..

Edited by BRNYS8558

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There have been one or two management buyouts down this way. Some have worked out better than others, if I was gonna do it again knowing what I know now I would still have gone it alone, it's not for the weak hearted but the benefits once you have made it far outweigh the poop you have to swim through to get there. Management buyouts are a good way to start up a business with like minded people and a good way for your boss to retire.

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Thanks for they replies guys, the reason for starting is partly because of money as I'd like to make a better life for my wife and kids but at the same time I want to accomplish something in life.

A standard day for me is either a straight day of callouts, system upgrades, new installs, more so doing callouts than the latter (since I moved from the install team) I do understand its bloody hard getting off the ground but I see people doing new installs including our subbies and then I'm there for a few days cleaning up the mess and them getting away with it.

Do a job once and do it well, if you hit issues as we all do, take the extra time to do It the right way, and with regard to putting in the hours for good pay, I'm not on a great wage when comparing on job sites.. I'm just loyal which I suppose is a flaw sometimes

My boss is a great guy so that about me working part time was an assumption, other guys have done it but who knows..

It's all of the admin things I don't deal with every day that I know I take for granted as we have a whole office of people doing there own jobs so doing it all yourself does seem like a ball ache, I suppose it'll be on a small scale at the start though..

you could ask for a pay rise,he might go for it if your a value to his business which you do sound

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