How did you finance your business start up?

[Dazh09]

Hi, I'm thinking a little ahead of myself here but I will be going through college to become a qualified plumber, once I have achieved this I will be looking at starting on my own and wondered what funding if any is available for starting a new business I.e government grants/ loans etc as I know it will cost roughly £10k

 

[plumbdoctor]

Not that easy pal would not advise you to go straight out on your own from college you won't make any money in the first few years, get yourself some experience with a company and build it up slow

 

[buckley plumb]

start with a company and start doing a day a wk for your self until you get busy enough to swap

 

[hammers4spanner]

Do a tiling course

 

[Dazh09]

Thanks for your advise, was thinking that going self employed would be the better route as I have read a lot on here of how hard it is for newly qualified plumbers to find an employer as most want at least 5 years experience

 

[tomplumb83]

I paid for it myself! You don't need anything to start do you? I bought stuff as and when I needed it.
It cost nothing to set a plumbing business up.

 

[mfgs]

I paid for it myself! You don't need anything to start do you? I bought stuff as and when I needed it.
It cost nothing to set a plumbing business up.

Tools, van , advertising, basic vanstock etc etc. It soon adds up. 10k is about what you will need in reality.

 

[Aquablu]

I financed with savings but would not advise you to go self employed straight away. Working for someone not only gives you a steady income but gives you time to build up contacts for when you are ready to take the plunge. Good luck whatever you decide to do!

 

[townfanjon]

Your first sentence says it all my friend, you are miles ahead of yourself, you have to become a plumber first, and you will encounter lots of problems , you might not even like it.
Learning in college and transferring it to working in somebody's house is completely different, they don't show you how to deal with the types you will encounter.

 

[stevetheplumber]

robbing banks

 

[townfanjon]

robbing banks

Is that easier than plumbing Steve ?

 

[kay-jay]

Is that easier than plumbing Steve ?

No but the pay is better [emoji386][emoji386][emoji386][emoji386][emoji386][emoji386][emoji386][emoji386][emoji386][emoji386][emoji386][emoji386][emoji386]

 

[Deleted member 32524]

I would be one to encourage you to go self employed. 10k is the start of it. Would be enough to get you going. My advice is do not buy a van at first. It will take a huge chunk of your 10k and running costs are high, servicing, tyres parts etc. Get a good set of hand tools, impact driver, sds, rip snorter, lsx, ptfe gas tape, leak detector n the likes. Borrow a core gun when you need it or hire from Brandon for about £40 a go.
Spend your most of your money an advertising, web presence, leaflets. Basically spend majority of it getting business in. Cash flow is KING.

 

[Millsy 82]

Is that easier than plumbing Steve ?

Yeah and if it goes wrong you don't have to worry about finding money to feed yourself! Lol

 

[Aquablu]

I spent nothing on advertising, except a website and a Facebook page. All my work comes from word of mouth recommendations. That's why I think it's important to build up contacts before going self employed.