Any advice for someone starting out as an electrical contractor?

Dinnymc86

Hi everyone. I'm a civil servant. Qualified as an electrician nearly ten years ago but gave it up about 9 years ago due to the recession and went back to college and took a completely different career path. I recently rewired my mams house and it kind of gave me a taste for maybe getting back in the game. I mostly had experience in the industrial side of things so doing a full house re-wire was a great experience and gave me to confidence to maybe try it out working for myself as an electrical contractor. I have decided to take a career break from the civil service this summer to pursue it. I'm just wondering if anyone out there could lend me some advice for someone starting out fresh. Ive got some contacts in the construction industry that could probably get me work to start off if I looked for it. I'm looking for any sort of advice pertaining to pitfalls I may encounter, how to price jobs, dealing with people that may be difficult to get money out of after completing a job etc. Also, advice on registering as a contractor and possibly taking on an apprentice. Also advice on paying tax, do I need an accountant? Any advice at all is much appreciated particularly pertaining to questions I should be asking but haven't!

Malcomex

Dinnymc86 wrote: »

Hi everyone. I'm a civil servant. Qualified as an electrician nearly ten years ago but gave it up about 9 years ago due to the recession and went back to college and took a completely different career path. I recently rewired my mams house and it kind of gave me a taste for maybe getting back in the game. I mostly had experience in the industrial side of things so doing a full house re-wire was a great experience and gave me to confidence to maybe try it out working for myself as an electrical contractor. I have decided to take a career break from the civil service this summer to pursue it. I'm just wondering if anyone out there could lend me some advice for someone starting out fresh. Ive got some contacts in the construction industry that could probably get me work to start off if I looked for it. I'm looking for any sort of advice pertaining to pitfalls I may encounter, how to price jobs, dealing with people that may be difficult to get money out of after completing a job etc. Also, advice on registering as a contractor and possibly taking on an apprentice. Also advice on paying tax, do I need an accountant? Any advice at all is much appreciated particularly pertaining to questions I should be asking but haven't!

I was at it for years

First thing is there's new rules out, you'll get tied up in knots if you're not familiar with them

I'd hold off on apprentices too for a good while

Stick with small jobs circa 1-2 days duration

IMO

salmocab

It will probably take you a few years to see the real benefit whilst you build up a business so as you’re taking a career break from the civil service make sure you have a plan of where you need to be when decision time comes up at the end of the break.
Yes get an accountant.
You need to workout how much an hour/day/week you need to come in to cover wages including a bit to pay yourself holidays/insurance, liability and van/ van/ van tax + diesel plus a bit to cover purchasing ladders, drills, test kit & tools. You’ll also need to qualify as a QC and join reci to get a QC number and be able to certify.

Dinnymc86

Sound advice thank you very much!