Hello. I'm giving serious consideration to setting up in business as a Handyman.
I know my capabilities (which cover quite a broad spectrum of tasks), have a good selection of tools and have read what other Handymen are offering in terms of scope and prices. I understand the need for advertising, website, accountant, customer service, etc., know what I'm not capable of/not allowed to do, and I have a potential starting customer base.
I have enough resources that I could (although obviously wouldn't want to) last the first year or so with no profit, ie just covering my materials costs. So if it didn't work out I can reconsider my options.
Up until now I have worked in I.T. and have my own one-person (me!) VAT-registered Limited Company. However, I've always enjoyed tackling jobs around the house and garden, for myself, for other people and voluntarily at a large community centre building. I also worked with a local Property Maintenance company for a year a few years ago. But I'm fed up with office work now, however well it pays.
So, could I ask for any helpful opinions on the following to add to my mix:-
1. Should I run the Handyman business through my Limited Company and if so should I be registered for VAT or should I set up as a sole-trader?
2. Obviously need insurance - any suggestions of good companies?
3. I guess I'll need a van as my motorbike doesn't carry too much and the wife wants the car. I was thinking maybe a Transit Connect. Would you buy, lease or contract hire?
4. Any major pitfalls I might have overlooked, any customer types to avoid like the plague?
Thanks.
I know my capabilities (which cover quite a broad spectrum of tasks), have a good selection of tools and have read what other Handymen are offering in terms of scope and prices. I understand the need for advertising, website, accountant, customer service, etc., know what I'm not capable of/not allowed to do, and I have a potential starting customer base.
I have enough resources that I could (although obviously wouldn't want to) last the first year or so with no profit, ie just covering my materials costs. So if it didn't work out I can reconsider my options.
Up until now I have worked in I.T. and have my own one-person (me!) VAT-registered Limited Company. However, I've always enjoyed tackling jobs around the house and garden, for myself, for other people and voluntarily at a large community centre building. I also worked with a local Property Maintenance company for a year a few years ago. But I'm fed up with office work now, however well it pays.
So, could I ask for any helpful opinions on the following to add to my mix:-
1. Should I run the Handyman business through my Limited Company and if so should I be registered for VAT or should I set up as a sole-trader?
2. Obviously need insurance - any suggestions of good companies?
3. I guess I'll need a van as my motorbike doesn't carry too much and the wife wants the car. I was thinking maybe a Transit Connect. Would you buy, lease or contract hire?
4. Any major pitfalls I might have overlooked, any customer types to avoid like the plague?
Thanks.