5 Things To Consider When You Start Your Own Trade Business

My nephew, like many young men at the moment, is starting to consider what they will do after they complete their GCSEs. Further education or Apprenticeships? For many 16 years olds, the idea of learning a trade and starting their own small business is really exciting.  But there’s a lot to consider after you qualify.

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5 Things To Consider When You Start Your Own Trade Business:

  1. Business Name & Logo: Tradesmen do better when their business specifically states their genre, it makes sense as when you Google search you are looking for something specific ie. a chimney sweep in Wimborne, not someone specific ie. David Giltrow Chimney Sweep. You can have some fun with it too.  Flush Gordon Plumbing & Heating Installations, Tiler Swift, Bonnie Tiler and Surelock Homes Locksmith are a couple of gems I’ve seen lately!
  2. Correct Qualifications: It’s likely you do, as you aren’t going to start a plumbing business if you haven’t got any insight into the business already. But it’s worth considering if you need anything extra to run the business as opposed to just being a self-employed tradesman.  You might need to be registered with certain industry bodies that as a self-employed tradesman the business you work for is covered but as the small business owner, this will be your responsibility.
  3. Insurance For Tradesman: It’s really important when you are self-employed to have the correct insurance.  Damage limitation is a must, and the safety of your employees and customers is paramount, but you know from time to time things can sometimes go wrong, it just isn’t worth scrimping on your insurance costs and leaving yourself vulnerable should the worst happen. Any self-employed person no matter what capacity will need their own insurances specifically for their business. Most tradesmen will need Public Liability and Tool Theft & Damage, but there is a whole host of others including Professional Indemnity Insurance or Personal Accident which can make life easier for you as a tradesman.
  4. Building A Customer Base: Trademans thrive on customer recommendation when a customer tells their friends how awesome they are or leave a review on Google.  70% of all jobs come by word of mouth or previous direct experience, building up a good reputation is key. Also, align yourself with other reputable traders who do something complimentary to you. For example, if you are a plumber you might connect with builders or electricians, hand out each other flyers, you could even club together and use the same flyer (one advertiser on the front one on the back). Your core customer is the same but you offer something different, by working together you build your customer base and reputation.
  5. Be Clear About What You Offer: In the beginning when you want jobs it can be hard to turn work down, but stick to your area of expertise and have a clear plan about what services you offer and what you don’t. Have these services on flyers, your website, social media etc .. so potential customers have clear expectations.

Have you considered starting up a tradesman business? What top tips do you have for start-ups in this area?

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