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Thread: Need some help from some of you that have your own buisness.

  
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    Brett's Avatar
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    Need some help from some of you that have your own buisness.

    After 12months of Ummming and R-ing I have decided with the backing of Danni to set up my own buisness. To be fair After I was suspended from work, I have not just hated my job but dispised it, and now that they are trying to screw me again. I have had enough and want out.
    I have always wanted to start my own buisness, but never got round to it.
    So I have done a fair whack of research into the market I want to get into, and what training there is out there to get me prepared in the buisness I want to establish.
    which is window tinting. I have found a company that is offering franchise in this, and training. I am fairly confident I can do this, and reckon its woth the risk.

    I have to do my buisness plan that I have got from the enterprise centre and attending a couple of seminars working for my self.

    Is there any help info you guys could give me to get an idea what I am letting my self in for.

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    The best advice I could give you mate is to get a job with a window tinter or even do it as an apprentise, get all the knowledge, know your products, how to price, how to save money, suppliers etc etc.

    do that for 6 months whilst learning about how to actually keep your books, run your buisness and sorting out accounts with suppliers and banks etc.

    Then go alone
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    Have a good chat with nrj, he went to america for tinting training.

    He'll help you out

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    get a good accountant, especcially for the first year, let him sort out your accounts, and tax's. Talk to him about setting up a Ltd company, that way if it doesn't work out, you aren't personally liable for all the debt.
    Vectra SRi 1.9 cdti 150

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    I have left my number with a few guys about working for them, as a traniee. Even offered to work for freeand pay for my own foils, tools, and If they want to take me on after it would be up to them.

    I have checked the market out there, and If I work doing some thing like one car a day, getting more and more practise in day in day out, and build up over time.

    The problem is I may be out of work as early as next week, they way things are going it looks that way. So I need to get something sorted or I will be in another mundane job, and seeing no reward for my work.

    Some good advice here guys

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    maybe im being naive but hasnt the demand for window tinting went down hill at all with the new laws on them?
    Previous Astras: 1994 Cesaro 1.8 16v | 2002 SXi 1.6 16v | 2001 Coupé 2.0 Turbo | 1999 LS 1.6 16v
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    Quote Originally Posted by PENDO
    get a good accountant, especcially for the first year, let him sort out your accounts, and tax's. Talk to him about setting up a Ltd company, that way if it doesn't work out, you aren't personally liable for all the debt.
    The only down side about being a Ltd company is that you may find it hard to find a bank that are more than willing to give you an over draft. We had problems with HSBC not giving us any overdraft at all, and TSB would only give £3000. You'd have to be prepared to put quite a bit of your own money in for stock, advertising and premisis etc you need to get the business off the ground. Even if you got a business loan to start things off, I'd have thought the bank would make you sign something that would make you liable for the debt. If you can, start it up with out borrowing any money from the banks.....that way you only have to worry about your income balancing with your outgoings and you shouldn't have the bank on your back.

    However, a Ltd company is the best way forward because you wouldn't be liable for any debt in the event of it not working out.

    Good luck with your business,and once you start working for yourself, you'll never want to go back......even when you have to do the 15 hour days to get the business off the ground.
    Join me again next week for another installment of "I make no f**king sense" where I'll be Waxing an owl.

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    For a window tinting business, i doubt you'll need a big overdraft anyway. nobody will gve you a loan at a normal rate without some form of security, so the bank will make you liable for any loan you take out, but goin ltd will absolve you from reponsibility for further debt. This however is worst case scenario, and hopefully something you won't have to worry about. A rallye_v6 said, good luck, at least you'll know that all your hard work is for your own benefit, and not anyone else.
    Vectra SRi 1.9 cdti 150

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    Thanks for the advice guys, yep I am stepping into risky buisness and I am willing to put my own money into it as well what I have left that is.

    Who knows me knows I work long hours all day every day, Being the fact I could be out of work, by tuesday, If what I have heard is right.

    getting in with a company is hard, I have offered to work for free, but they think I m gonna **** em off after, wich is not true, Im just desperate to get work I feel I enjoy, and since no one wants traniees ect, I will have to do it on my own.

    Cheers guys for laying out some facts.

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