How To Start A Business In The Trades

foreign so I'm an apprentice electrician or was soon to be running my own business and still going to be working alongside Nick which you'll know all know me from his channel still going to be working with him three days a week but my plan is to go as a sole Trader so I'll be back to him three days a week to keep the consistent work build up some of my own work experience some different things so subby to different people to do solar to do some EV Chargers to do some commercial work to do some industrial work to do all different types of work so first off I'll be looking at doing loads of different varieties of work so if there's anyone on base Midlands area or anywhere like that that would like to help me on that Journey then drop us a DM but what I'm going to be running through today is what I have been looking at so let's get on this slide here so I've got loads of tabs open here on my computer and I'm going to run you through what I have deemed necessary for setting up as a sole Trader so straight away obviously you've got a abide by the government uh guidelines regarding setting up a business so sole Trader yeah so you've got to abide by the government regarding your accountants books all sorts of things for that so I've been reading up on this how you actually do the process of setting up which is pretty simple to be fair so that's that I've had a good read of that and it says about how you do the tax years how you do your self-assessment gives you a bit of Basics policy when you speak to an accountant they'll run you through the what what the crack is really and obviously we all know using like tradify you zero your Sage the QuickBooks there's loads of different things you can do which may speeding up that process quicker you ain't got to do it the old way of probably our Nick when he first started was just right all down on pen and paper loads of Bits of Paper everywhere loads of books so none of that anymore but yeah let's get straight into it so I've got a list here I printed it off so these are there's about 15 things on here and there is a total amount of all this stuff here of what I deem I'd say probably highly necessary to start the business of the level I want to start it at so you can start at pretty much nothing and build it up however I've got a bit of money behind me because I've been saving since day dot I started work so I'm just going to go before it I'm just going to put my money into it and fingers crossed in a few years time you'll see me in a Lambo now I'm joking but um yeah so first of all every day how are you going to get Tim jobs so Vans been looking at these type of Vans um I've opted for around that price range 10 to 15 grand that we're looking at because I'm selling my car long story short I still want to be using it like personal use as well so and I'm selling my car so I've got a bit more Capital behind me so I'm looking at something like this a long wheelbase connect so that's what's on the agenda for vehicles so that's the first point based obviously there's loads of different variables depending on what type of work you are what Trader you are if you're a bricklayer you might just need a little little tiny van not a long wheelbase one because you literally just got a bucket and a trowel whereas if you're a roofer or a builder and you're putting loads of bags of sand and stuff like that in the back then you're gonna need a big van or you might need a Tipper van so different price ranges or different equipment what you're going to need right number two insurance for that for that matter so because my age I'm 20 years old so this is a bit of background of me 20 or 20 year old just passed all my qualifications for being an electrician I'm going to do 2391 and a few other additional qualifications yes I'm going to get a few more Ticks by my name as such to make my qualifications become more vast whilst I'm at the young age fresh our College I'd rather get them done rather than in five years time go back to college and rethink of like all the health and safety aspects and all those little things you might slip like you might forget to a touch do I mean you won't have to relearn it whereas now it's like fresh in the mind so there's a few different things I'm going to do however yeah I'm 20 year old recently passed on my test and that leads me on to the insurance so because I'm 20 I've got about three years no claims we're looking at about two thousand pounds for the year so it's expensive but it's a necessity and I'm not going to only push bike every day to work with all my tools so I'm gonna need one that's insurance for your vehicles now we're moving on to the insurances which you are required for running a business so worst case scenario I install summer and it burns someone's house down you're gonna need you're the public liability insurance your public Indemnity insurance there's all sorts of insurances but believe it or not Rhino have hooked me up so as you all know these two good looking guys here Nick Grundy and me uh worked with Rhino we have since dadar um really cool guys and Nick's got a discount code Bundy 10 so if you go on there check that out they'll sort out all of your public liability well let's let's show you guys so Tradesmen insurance insurance products so we've got employers liability professional Indemnity tool insurance and Gadget Insurance Van Insurance income protection tax inquiry and legal expenses there's loads on there however what I've opted for so is the basics as such because I'm only just getting started you can increase that package anytime so I think it's two and a half million um public liability I'll put a photo on now of what I've got however once I get my van which is going to be very soon I'm going to opt into tool Insurance obviously to protect all my tools because we know van theft and Tool theft is a massive matter in the UK so you want to protect all them tools and say I buy I spend five grand On Tools wake up tomorrow and they're all gone like I'm not just gonna pull five grand out I know where am I do what I mean so you get this necessity really in my eyes and then another thing is Gadget insurance I'm filming off my phone in a year probably about a thousand pound phone computer ear thousand pound computer or say a laptop Euro your iPad you're going to take to work to do your certs all them things on a building site we know things get smashed easily so you need that Gadget insurance so that's another thing I'm going to look at Gadget insurance and Tool insurance for when I start buying all that through my business as such so that is definitely a must so go and check Rhino out because they have actually hooked me off and give me my public liability professional Indemnity and personal accident cover um for free as such because obviously we'll work with them and we can promote their business so cheers Rhino cheers Troy so moving on to the next one business related again so you've got your business bank account so I've been watching loads of videos on General business and life hacks so everyone's saying obviously your business account you want to keep separate to your personal income because obviously you need to sole Trader you've got your business so say I give you an invoice of 100 pounds I'll look at it like that so straight away out of that you've got your deduction materials and all that jazz but say I've already done all that so I've got 100 pounds I've been transferred straight away obviously your taxi National Insurance all that pretty much comes to a third I believe so 33.3 as such straight away I'm going to do it so that goes just straight into a different bank account I can't well I can't touch but you know like a separate one so then that's throughout the year throughout the year Stacks up and I've got that money behind me to pay the tax plan at the end of each tax year I think that's the best way to do it because you're not getting stung or you're not going to the first of April or whatever it is and then you're like oh I need 10 grand where's that gonna come from do you know what I mean so that's that and then obviously the other money you obviously budget in it such a fairly money Savvy as it is like saving and such so I've been brought well with that but I'll do I'll do another video based on money and saving related um because I think a few of your apprentices message me about how do you save up for tools and stuff like that and I'd like to give you an Insight of how my everyone thinks about money differently and I'll give you an Insight of how I think about it but anyway I'm sidetracking so yeah business bank accounts there's loads of different ones to choose for but believe it or not I'll touch on this further on but contacts so we actually worked someone who works for monzo Banking and he says about business banking and stuff so I think I'm gonna have a word with him and see what he can do for me and advise me so and then accountants as such so you're going to need an accountant to do all the nitty-gritty number crunching which I am not a number cruncher I'm fairly alright at it but not for hmrc government guidelines so yeah get an accountant probably cost you about three to five hundred pound a year as long as you do all the uh paperwork behind it such Jimbo and Corey did actually send me this uh spreadsheet document where you can put it all in yeah so I'll put that in the link below so you can check that out that's a good little uh Excel document thing right moving on to the next one nape it or nap it however you want to call it I think it's Napier but basically so this you don't you don't technically need this you can just register with your accounts all sorts your local Council to sign off your work domestically I believe but then you have to pay a lot more more per certificate you sign or require so if you go with Napier or Nic as everyone knows you have to pay a month a yearly fee of around 520 plus that so what's that what 520 Plus what's that one 104 something like that so yeah that a year as a yearly fee oh no it said the renewal fees a bit less but yeah so you gotta sign up for nape it for that or so that's CPS I think that's domestic all there is as well EAS so that's regarding the commercial side it says from those prices however Nick's gonna help me with this kind of thing because he's obviously done this for years so he can help me set this up and once I know a bit more I'll help you guys set this up but it's it seems fairly straightforward you just gotta show off your certificates then they'll come out for the day half a day assessment pretty much proves that you're not going to burn someone's house down and you're you know how to test you know how to sign the certificates off you are competent as such so pretty much all the checks have already done but they do it again because it's covering their back which I totally understand so yeah that's nape it before I move on to tools and some other things which Everyone likes to see and you could spend a million pounds or you could spend about 500 pounds it depends on well how much you want to spend and what brands you like um I will just briefly mention so what we're currently looking on a website so marketing your social media your website your business how people get to know about you how people get to contact your your phones as such so that's another expense you've got your phones your laptops stuff like that um how you run in the business so a bit of the admin side but social media and stuff like that get on it it's free just start advertising does that mean so obviously I've already built a following on YouTube I've got a following on Instagram stuff like that and I've just created a Facebook page so I'm going to start linking that with my Instagram because I own by the same company so yeah there's a few different things I want to start doing and then websites I do need to set up a website and set up a domain and all that jazz which is going to be fun but I'm pointing that off in a minute because I need to I need to walk before I can run you know what I mean so I'm starting it but let's move on to some interesting stuff moving on to tools yes I think I'm going to the Dark Side Milwaukee so as we all know Nick uses Bosch tools however um I've got nothing wrong with Bosch I like barstools however I don't know it's just the thing of the pack out I really do like the pack out stuff um I think Nick likes it I bought some recently and he bought me some pack out so cheers Nick if you're watching this um and all the tools Nicks bought me very grateful or anyone's ever given me it's such a massive thing and I'd like to thank all the companies that sent me stuff for any future companies that are planning on working with me or sending me tools or anything like that because you people have said they've watched me come from like a shy ladder such to now sitting over bedroom talking about it and show me how I'm going to start my business like it's still pretty mad for me but it's probably even matter for you guys watching it you know what I mean so Milwaukee I've been looking and I think I'm gonna go for it I'm gonna go unlikely I think this is on Power Tour mate so this big bundle here as such where you get like a Combi impact jigsaw SDS grinder multi-tool a couple batteries and a little torch but I don't really need the torch obviously I've got all the uni lights I'm gonna go Milwaukee I think so that's that so any companies out there want to work with me hit me up because uh I want some Milwaukee stuff uh loads of people be shouting now thinking I just want to get loads of free stuff to a degree but then also I want to work with different companies and meet different faces and stuff like that it's not just I want loads of free stuff I want to just experience different things in life like I don't know like all these events and stuff you see people going to like it just looks like good fun meeting other people and stuff like I'm not bothered about money or anything like that I just like having a good time and enjoying enjoying life that's what everyone likes to do um but yeah regarding Milwaukee stuff yeah it's gonna get pricey when I start buying loads of tools and stuff like that but they're good all power tools now as long as you get a good brand like the gross the wall DeWalt Milwaukee I'm not going to say Makita yeah or Bosch you're gonna get good tools and they're gonna last so that's that um we've touched on website building so you've got all the different companies like Squarespace Wix All That Jazz so it's not too hard to make your website nowadays moving on to your certificate so what I was talking about naked pit how you sign each certificate off so Nick uses this on his iPad it's called Thai Thai soft it's called easy sir but ties off the people who engineer it as such so what I'm going to look at doing is I think I'm going to kill do two birds with one stone I'm gonna get a laptop because currently I've got a gaming PC here which is brilliant however you can't pick up and bring that on site so I'm going to get a laptop as such don't think we're gonna go Mac just the laptop and a fairly good one though so then if I need to say I'm traveling around filming videos or anything like that I can edit my videos on it edit my videos or I can do my certificates on jobs on site I mean because you can just mobile hotspot your phone to your laptop nowadays so I think I'm going to kill two birds of one stone with that and go with easy cert for the certificate web certification app search because that's what I'm used to so that's that and then moving on to some people would argue this that you don't need to this and some people would say yes it's a necessity for basic items which I believe it is so as we all know we use expert electrical if we are Nick's Advanced so like some rewires most rewires Nick will speak to expert and say look I've got this rewire coming up I need this this this this this and most of the time because he films and he promotes it they'll actually send stuff out and then or give him a heavily discounted price on that materials um because obviously it's promoting the company and promoting the products but what I'm planning on doing is stocking the van to a degree do I mean like your basic so a drummer two five a drummer one five because as soon as I get my van there's nothing in it I've got to get a drummer two five I've driven one five some way he goes some way go boxes a box of screws a box of pendants box of double sockets so when um I don't know someone around my neighbor or someone says oh can you just change my double socket for me I've got it's cracked I ain't gotta go to the shop I mean so I've got a stock of basic items and I've been looking for around three to five hundred pound I'd say Asia Basics and probably closer to 500 pound if you're include in the cable prices um so yeah there's loads of different things I'm looking at doing and I'm kind of overthinking it to a degree over engineering what I really need which is good in a way but bad in a way for price as such another thing I will add is ultimately going self-employed like sole Trader you need to be confident and you need to have the qualifications so obviously pass through your qualifications to be an electrician and such which we all know have and I've got my gold card it's in my wallet I don't have my wallet but yeah so I've got that now um I'm confident I'd say I'm fairly confident like really confident on most things domestically um commercial-wise I'll happily admit I'm not confident on the majority of things gland in your armored or glanding into an isolator making off your basic isolators yeah however some big contactors and stuff like if there's a wiring diagram obviously I can follow it all and I can work it out I'm fairly good at that however your big thing say you're fault finding on big commercial stuff I've never done it so I'm not confident at all in it I know the basics but I'm not confident at all so that's the type out at the start of video so and I want to get some more experience in stuff like that um but you've got to be confident qualified passionate about it as well and you've got to strive to succeed I believe when starting a business that's what everyone said to me like I'm at home I've got nothing to lose obviously I'm putting a lot of money into it and I spend a lot of time filming it as well but I think that's no one I know has done this as such yes of a not really other tradies but other things as such say if you YouTube how I set up my sole Trader business for a cake selling cakes or whatever yeah there's stuff like that but there isn't really like a tradie one I don't think so I'm documenting my journey what I have from an apprenticeship to now all the way through my apprenticeship completing that to do an extra qualifications which I'm looking at now setting up a business running a business and I say how it is like day in day out I'm not gonna like tell lies nothing I'll just keep it 100 real I'll just say exactly how it is which I think that's why I've gained such a following from Nick's Channel and me and Nick again sorts of following because we just say how it is at the end of the day you've got nothing to lose and people see that you're genuine rather than like white lies as such which some people to see or like pursue that around social media which 90 of the time I'd say is not some things yeah you can tell like you look at some certain things you think well that's a lot of rubbish but regarding money so in total I believe this is going to set me back obviously the certain aspects I've not paid for I know Rhino they do the Rhino tubes they started doing van racking which is really cool roof racks All That Jazz there's a few other companies as well like Rhino I'm working with and that who have helped me set up a such um so I'm very grateful for all them companies if any other future companies are watching this just drop us a DM or anything and get in touch and if I think we're suitable to work together then obviously we could work together in the future but regarding money wise I reckon it's still going to set me back I reckon 20 grand just over 20 grand that's obviously the big outline is the van as such but like I said before it's not just for business use I'm using it for personal use as well and I'm chopping my car in so it's a 50 50 one um but yeah it's a lot of money however I've been sensible saved all my money off and yeah like I've already made some sacrifices this year like not going abroad as such and other things so I'm just investing all my time and money into this business so any tips tricks help advice um companies willing there out there to help me along the way on stupid things like just advice or anything like that it's all appreciated right then so I think you've heard me enough for today blabbing on about starting a business what I'm gonna need all that jazz and how much it's going to cost however I will just reiterate it reiterate I'm very grateful to Nick for taking around his Apprentice show me the ropes of such I'm still going to be mean I'm gonna get loads of comments saying I'm ditch Nick I've come qualified to run away I'm not me and Nick have always said we're going to work together all like forever as such um I'm staying within three days a week do I mean it's just I'm subbing because I always get asked to do my own little jobs and I just it's one of them when I get that feeling when I've done swimming for like my nana Point outdoor socket on as stupid as it sounds when you look like you've done it yourself and you've been to the shop water materials you walk away from that just with like a smiling face really it's just a happy feeling as such so that's what I strive for in my business just to to be happy really so once again thanks to everyone that's helped me and don't forget to like subscribe because yeah thanks for watching bye

Channel: AdamTheElectricalApprentice

Views: 11,235

Keywords: business, work, startup, new, learning, tools, vans, computers, advice, how, how-to

Id: YD4VOGVgHDo

Length: 20min 41sec (1241 seconds)

Published: Sun Aug 06 2023