A question for every self employed plumber.

[Anth]

I dont want to sound stupid but would really appreciate any help.
I was recently told that to set yourself up self employed as a plumber you would need about 3-4k. Now this baffles me a bit, as i say i dont want to sound stupid. Apart from tools, advertising and pl insurance what else could possibly cost such an amount. The 3-4k does not include a van but surely tools, expensive as they are, along with pl insurance and advetising would not cost 3-4k. Have i missed something. Or is this figure correct.

I would really appreciate any thoughts on this.

Many thanks to all who reply.

 

[sonray ltd]

you'll be quite surprised how it soon adds up
tools.
business cards, stationary, phone.
work wear.
van.
stock, tubes to carry your pipe, ladders.
pL insurance, van insurance. etc

depends if your going to do cheap scate or go the pro route.

most of that will all go under start up expenses.

 

[bushplumbing@ya]

i set up 2 years ago after 15 years working for other people, i started with 5k which went quite quickly, £600 - liabilty,£300-van insurance,£350-corgi registration,£850-power flush, £600-GFA ,£500 -tools, £1800 wages for the first month. i also spent £6000 (loan)on a transit van, so really it was £11000.Money very well spent, love being my own boss, not sure i could work for someone now, hope not . steve

 

[Dirty Fingers]

That's too low. Aprt from the tools you;re going to need at least twp months working capital unless you have work already lined up. Keep the cashflow positive.

Leaving the van and working cap. aside you're going to need at least 6k if you get almost everything you need right away. Depends whether your CORGI or not.

Alternatively, you can do it with 4k but you;ll need to keep a VERY close eye on what work is coming up and what you are going to need to do it easily.

Good luck. It's a great trade isn't it.

 

[Anth]

Would not be corgi just domestic plumbing and heating. I know ladders, tubing for pipe and other tools are expensive. I think i would rather have all the essentials i need from the outset then that way you are not looking for any big outlays later on, ok there maybe one or two, but other than stock and any annual payments, insurance for example, this seems a sensible way to go. As sonray stated most will go under start up expenses. At the moment with the reccession and everything prices are lower than two years ago. Maybe not for all but there will be some good deals out there. A van for eample. Prices are been slashed just to shift some stock. So overall it may be cheaper to go self employed now in the reccession, than say a couple of years ago. Just need the work after that.