Sole Traders...

[Drew James]

Anybody else find themselves flat out all the time but not actually making any real money? I'm 4 years into SE, have worked on some great projects for a variety of customers but at the end of the financial year I may as well be PAYE.

I enjoy running a business and the freedom it brings. I'm not always the cheapest quote so it's not like I am a "busy fool". I've spoke to a few other SE sparks and they find it the same. My overheads are low (10 year old van), and I pay myself a smaller salary.

I have moved into a bit more commercial work now so I am hoping this will make it more viable.

Cheers

 

[Murdoch]

You need to up your rates imho

this ALL depends on where you are in the UK too.

 

[binky]

it's not unusual to find yourself in this situation. Simple shortage of electricians means employers are paying more than they used to, but it is far more fun being your own boss. Don't try employing staff thinking you may make more money, it kind of works with an apprentice, but it comes with a whole heap of headaches that can make life miserable

The only time I've made good money was when solar was booming, which was short lived, and when I priced jobs like I didn't want them., but that's not an eay route either.

 

[Murdoch]

I think it comes down to choice ultimately.

Be your own boss and control your own destiny or risk being laid off at short notice?

I’ve thoroughly enjoyed being SE - sure it’s long hours, but very rewarding and satisfying.

Now slowing down it’s even better, as I can choose even more when and who I work for

 

[Mike.J]

Its simple in reality, flat out and not making any money, your too cheap.

Ten customers @ £75.00/hr.
Fifteen customers @ £50.00/hr = same result, but more hours.

 

[binky]

Its simple in reality, flat out and not making any money, your too cheap.

Ten customers @ £75.00/hr.
Fifteen customers @ £50.00/hr = same result, but more hours.

I have friend who does double glazing and conservatories, he prices just under the likes of Everest, far more than the cheap brigade, but makes sure he does a good job. Reckons he loses 8/10 jobs he quotes for, but is happy to get work when he does because the money is good, and if there is any niggles there's no quibble over money or narrow margins making it difficult to justify returning to a job. Personally, I couldn't stand putting that much effort into quoting for work I didn't get, but he has a point and top ratings from happy customers.

 

[Sharpend]

It’s the old adage ‘you get what you pay for’

 

[Murdoch]

Never be the cheapest and never discount.

If they ask for the cash price I simply say the price is the same by cash, cheque or bacs.

 

[mort2376]

I always say it's more for cash as it costs me to bank it.

 

[Murdoch]

I always say it's more for cash as it costs me to bank it.

Put it in your cash box and use it when filling your van

 

[SPECIAL LOCATION]

Anybody else find themselves flat out all the time but not actually making any real money? I'm 4 years into SE, have worked on some great projects for a variety of customers but at the end of the financial year I may as well be PAYE.

I enjoy running a business and the freedom it brings. I'm not always the cheapest quote so it's not like I am a "busy fool". I've spoke to a few other SE sparks and they find it the same. My overheads are low (10 year old van), and I pay myself a smaller salary.

I have moved into a bit more commercial work now so I am hoping this will make it more viable.

Cheers

Erm.. NO..

I would think most earnings-vs-time worked problems stem around business management, correctly costing of jobs and knowing your target market place.?