business thread

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dougal

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how about a business thread for those who are contenplating starting out on their own

 

kme

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That idea has it`s merits. However mate, I would personally have thought that very few people would require the same information.

Besides which, there are plenty of links & sites, including the subsidized ones, that have all the business startup info you could want. It isn`t technically electrician based see - ANY business starting up has the same issues & queries.

Tell you what though. If anyone is interested, I will happily start a thread in the links section, with all the business startup info links & resources. I`m sure some of my esteemed colleagues would add their considerable knowledge too. Interested?

 

dougal

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some of the information I would like to see is

1. what hourly rate is being charged around the country?

2. any websites related to start ups in the electrical industry?

3. how other electricians started up their companies?

4. the best suppliers to use?

If any one has some answers for me I would be very gratefull

craig

 
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some of the information I would like to see is1. what hourly rate is being charged around the country?

No one is going to be honest about that :|

2. any websites related to start ups in the electrical industry?

All electrical forums seem to have threads about this (including this one) Try a search ; \

3. how other electricians started up their companies?

Working for other small companies whilst building up/stealing customers B)

4. the best suppliers to use?

Very localised :|

If any one has some answers for me I would be very gratefull

craig
.

 

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some of the information I would like to see is1. what hourly rate is being charged around the country?
Quite simply there isn't one rate around the country...

too many individual factors to consider..

a) Geographical area of work.

B) Technical area or work (domestic/commercial/cable bashing/specialised area e.g. petrol stations,agricultural etc.. etc..)

c) How much you need to cover your cost of living, business costs, overheads, personal wage etc..

d) what the competition is charging

e) have you just got to cover your own costs or are you employing other staff etc.. etc..

f) can you get business at the rate you want to charge... (if people are willing to pay you

 

dougal

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thanks fore the replys

will need to do a lot more research

craig

 

Theorysparky

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One item that has been forgotton thats advertising !!!!

you can spend alot of money for little return

 

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thanks fore the replys will need to do a lot more research

craig
Best of luck m8:)

don't be in too much of a rush to start..

an extra bit of research and checking out a few of the "business" aspects,

can save a lot of wasted time and early failure! :)

once you have done all your home work.. and you are still sure...

then just dive in and run with it!B)B)

 

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One item that has been forgotton thats advertising !!!!you can spend alot of money for little return
Absolutely Theory!

especially if you are looking at the domestic market...

most advertising comes from word of mouth!

e.g. if you were looking for a particular trades person to work in your house..

the first thing you tend to do is asks friends or family..

do you know a good.. builder/plasterer/plumber/electrician/gardener... etc.. etc..

 

kme

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1. what hourly rate is being charged around the country?
The other point to consider here, irrespective of geographics, are the demographics.

In other words, Which area of the market are you aiming at?

And I don`t mean Domestic, Commercial & Industrial!

Different "types" of customer will expect & respond to different charging strategies. If your customer is a retired doctor, for instance, you`re more likely to lose the job by being too cheap! Whereas, if your customer base is more the Yuppie end of things, they`ll very often go for the second cheapest quote!

Which sort of leads to advertising. As a couple of my oppos have commented, word of mouth is often the best advertising. The downside to this is that once you have a reputation within a particular type of customer, it`s very difficult to alter it. i.e. people tend to speak to and value the opinions of, other people of a similar social standing.

If you do choose to venture out, I wish you the best of luck. And, of course, us saddoes are always here if you get stuck!

KME

 

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The other point to consider here, irrespective of geographics, are the demographics.In other words, Which area of the market are you aiming at?

And I don`t mean Domestic, Commercial & Industrial!

Different "types" of customer will expect & respond to different charging strategies. If your customer is a retired doctor, for instance, you`re more likely to lose the job by being too cheap! Whereas, if your customer base is more the Yuppie end of things, they`ll very often go for the second cheapest quote!

Which sort of leads to advertising. As a couple of my oppos have commented, word of mouth is often the best advertising. The downside to this is that once you have a reputation within a particular type of customer, it`s very difficult to alter it. i.e. people tend to speak to and value the opinions of, other people of a similar social standing.

If you do choose to venture out, I wish you the best of luck. And, of course, us saddoes are always here if you get stuck!

KME
Yep I would ditto that point!

where do you want to be in the market place?

Price to cheap and you will get customers who expect cheap (and don't like paying a bit more if unforeseen circumstances arise!)

Some people expect to pay more. if too cheap and they think you are tacky and below their standards!

tis a tricky balance? ?:|

 

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bit of a mine field isint it?craig
wot?

Its a ruddy great war zone!!!!!!!!!!!! :eek: :O

man the bunkers! :_|

incoming!!! :eek: :(

oh... thats just the forum!

not startin a business...

thats just do your homework first.. don't walk in blind;)

 

Alzee

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Personally, I'd love to see a section dedicated to this subject.

Since I am currently in the same position as craigfitzhugh, ie. considering starting up on my own. Maybe seems bonkers in the curent econonmic climate but I guess that is just proof of my ignorance on the subject.

So, please start a section and save me from financial ruin before I even take the first step!!

Anyway, economic climate aside, my main areas of concern/ignorance are these.

1. How do I get registered/certified with an inspection body before doing any work?

2. How do I employ helpers/apprentices/labourer/sparks?

3. What do I need to do with billing and tak paying?

4. What do other sparks, all over, manage to earn? ie. over the year how many hours per week did they work on average and what was the average weekly profit/take home pay?

By the way, these are only "starters for ten", the real questions would kick in after those were answered in full.

So, for me a dedicated section would be a great addition to the site.

 

The Godfather

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how about a business thread for those who are contenplating starting out on their own
The Don's view is simple.

How far do we continue to add sub forums, that break up the general area of 'Electricans Talk' which covers a wide range of topics?

It is a occasional question asked and is probably best posted in one of the most viewed areas of the forum. That is likely to attract a more varied input from all sides.

The Godfather.

 

Alzee

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The Don's view is simple.How far do we continue to add sub forums, that break up the general area of 'Electricans Talk' which covers a wide range of topics?

It is a occasional question asked and is probably best posted in one of the most viewed areas of the forum. That is likely to attract a more varied input from all sides.

The Godfather.
Kinda agree with you there Don, after thinking about it a bit more. I mean how many people are actually "thinking" about starting out at any one time?!

On top of that, those who are up and running maybe wouldn't like to share their business details and methods with an open forum.

There does seem to be quite a list of sub-forums already anyway.

Oh and while I'm here,.................even though I just joined up here yesterday, I have trawled through quite a lot of threads but do find that many of the threads that look like a good long debate/discussion ( say over 20 posts), actually turn out to be just a couple of relevant posts before it degenerates into unrelated trivia and idle chit-chat.

haha, for any sake, I only arrived yesterday and I'm critisising already!

 

baldelectrician

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My own two penneth

Don't entertain any cold calls selling you stuff (u find us), don't agree to anything on the phone- not even sending you information - which will turn out to be a contract!

I don't like CEF- random pricing structure, it varies according to who you talk to

Adverise wisely- look in to your target market; do they read the local paper, or do they use Thomson Local, Yellow Pages, or even the internet.

Don't sell yourself too cheap- no point being a busy fool and being skint.

Try and be different (not like Garry Glitter :D ).

Look at your market- scour the yellow pages and other adverts, see what works, ask EVERY customer where they got your number.

Leaflet drops work in some areas.

Watch out what you put in your advert- be wary about giving free advice, you could be sued if you give advice over the phone and someone has an accident.

Watch out for customers getting you in and pumping you for information (where will you run the cables, where does this go etc). Give info, but not too much detail.

 
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