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Starting my own business any tips?

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V8MoneyPit:
Everything RRB said is so true. Even with our carefully thought through business plan, it took 3 or 4 years to get to a comfortable income. Our business plan suggested we would make a profit in the first year  :shock: :lol: It wasn't until we were turning over something like 250k before it generated enough net profit to really cover living expenses. And nearer 350k before it became what I would call 'comfortable'.

You can work out how many LR's you would need to break to generate 250k turnover..... and that assumes you can sell all the parts from them.

And we didn't have to contend with all the regulation that exists now. I believe you need a completely concreted area where the vehicle is broken so no fluids find their way into the soil. As RRB says, you need to make sure you have licenced carriers in place for your waste disposal. Oil and tyres are a right pain to deal with.

suzota:
i been my own boss for 7 months now and while it has its benefits it also has lots of grief.
i think this month i might even make a profit, be the first one since i started.

lee celtic:
First job is to work out how much money you need to live .then work backwards to find out how much money you have to turn over to get that money after paying everything else ..

It's shocking :shock: :shock:

My advice is don't bother , I had my own business for 14 years and sold it 7 years ago I wish I'd done it sooner as now I have more money ,holidays and time..

But the best bit is pease of mind and a good nights sleep ;)

Lumbering Jack:
Best piece of advice I was ever told was "keep it as simple as you can for as long as you can"  problem for me was it was a year or so too late  :doh:

I was my own boss for about 4 years (forestry contracting, Firewood and building Showjumps) and whilst much of the time it was great, there were times when you'd be sat there with your head in your hands wondering why you bothered.

As mentioned in an earlier post, your customers are in charge, you can manage them to a certain extent but not one of them will appreciate you for how much work you put in - they all wan't something for nothing.

IMO you will struggle to work full time and get a viable business up and running - you'll end up burned out and sick of both jobs.

I'm in a similar but slightly different situation at the mo - Working 8 hours each day at my "normal" job and then doing 4-5 hours most nights in the workshop building jumps and then spending the weekends gathering and cutting firewood.

Whilst you might think you're making loads more money doing your own jobs, you'll probably have much more out goings - I'd never really noticed until recently - My "job" only pays me about a third of what I used to take each month when I was running my business full time but I now have money in the bank whereas before there never was any  :oops:

Sorry to sound so negative - just my thoughts on the matter - Best of luck with your new venture, I hope it goes how you hoped  :dance:

mobi:

--- Quote from: v8rangie on April 25, 2008, 09:25:56 ---Im looking at starting my own car collection/delivery company and also breaking land rovers for parts.

im hoping to be able to get a business loan to buy a Recovery van and put a good couple of months rent down on a unit somewhere.
if not then ill just save bit by bit out of my current wages and get vthe van and build up to the unit for breaking.

Has anyone else got there own business and do you have any tips or info on the best way to run everything?

I could prob keep myself going with a collection/delivery service just for Mud-Club :)


--- End quote ---


what type of recovery van do you mean?
as a discovery is about 2400kg (and i would have thought a range rover or a 110 is about the same), so any "van" would have to weigh less than 1100kg on a 3500kg mgw.
if you went over 3500kg you would need a CPC and a operators license, this apply's to a van towing a trailer and would mean that the van has to be fitted with a tachograph and be limited to 56mph as well.

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