Starting out on my own

[stayfreejc]

Hi chaps.

 

I am new on here so have introduced myself on the new members section and I am just after a bit of advice. I am sure this has been covered many times in the past but I cannot find any comprehensive information on the subject. Basically after 10 years working for a major company I want to go it alone. The easiest option would be to set up as a sole trader and take sub contract work from my existing company, but I want to have my own customers as well in the end. Now I can install and service the equipment fine, but I am not too clued up on the admin side of it. I have a few questions. Again, sorry if this has been covered, I can't find anything concrete:

 

Do I need to be NSI registered (or equivalent) to be viable?

If I want to monitor a customers alarm through Redcare or an alternative is it difficult to set up, and which is the best third party monitoring station?

If I register as a sole trader and find customers what admin is involved in signing up a customer under a maintenance contract with monitoring?

 

Sorry if this is basic stuff, I am admittedly naive to the admin side of things. I am an engineer through and through but fall down on the business side which is why I am trying to work out if it's actually worth the hassle of signing up my own customers or to just sub contract. I was always lead to believe that the money is in the recurring maintenance revenue. Anyway thanks for reading and any advice will be massively appreciated. 

Edited May 5, 2016 by stayfreejc

[al-yeti]

Open Ltd company from start, won't cost much over the year 

 

nsi or saaib only if you want to do urn's, ssaib being easier to get , as suggested by others you need a buddy company for call out, or a buddy company to accept your installs and take the maintenance on for ones that need a urn, I seen a few doing that here 

 

Redcare less demand? Webway etc all easy to set up 

 

Yes money is the whole point, but you will find it difficult as a house basher lol, but it's the urn side that gets you stuck otherwise plenty will take maintenance on with keyholder only and as above buddy to take your urn requests but you need a good mate for that

 

Anyhow alarm men will be here soon with better advise

[WDT]

1 hour ago, al-yeti said:

Open Ltd company from start, won't cost much over the year 

 

nsi or saaib only if you want to do urn's, ssaib being easier to get , as suggested by others you need a buddy company for call out, or a buddy company to accept your installs and take the maintenance on for ones that need a urn, I seen a few doing that here 

 

Redcare less demand? Webway etc all easy to set up 

 

Yes money is the whole point, but you will find it difficult as a house basher lol, but it's the urn side that gets you stuck otherwise plenty will take maintenance on with keyholder only and as above buddy to take your urn requests but you need a good mate for that

 

Anyhow alarm men will be here soon with better advise

 

When you say good mate I quess you was getting at one that won't muscle in on the jobs you have got, ??

 

Or one you can drink tea with all day

 

[PeterJames]

I would start off subbying thats what most do, dont try and under cut the hand that feeds you. Its hard work be prepared to live on cornflakes and toast in order to pay your mortgage thats what I had to do (Though my kids never went without) 

[james.wilson]

 

1 minute ago, PeterJames said:

Though my kids never went without

cornflakes or toast?

[PeterJames]

Just now, james.wilson said:

 

cornflakes or toast?

What I meant was they got milk with their cornflakes, and beans with their toast 

[secureiam]

Why would you like to go it alone, and have you looked at all the costs involved?

 

Subbying for your current employer may be okay, is your employer in the know about your plans and agreeable?

 

I chose not to do any subbying and get my own work and building everything from scratch it its not impossible, depends on your competition locally.

 

I haven't gone down the URN route yet, I now have a company that's prepared to help out with that side if I wish (or so they say,not formalised yet and haven't taken them up on the offer, just not sure its right for me right now).

Both SSAIB and NSI asked for a minimum trading period as well as appropriate staffing levels or buddy company, I wasn't happy with my dealings with either organisation to be honest, each time I have been in touch, as for police response not sure that would happen these days even with all the paperwork correct, don't forget the fees involved.

 

so think about your costs, customer base, competition and how much you need to live on and look to see if there is any schemes in your local area to help you get started.

[mountianrider]

Is £150 too cheap as a subby?

[norman]

14 minutes ago, mountianrider said:

Is £150 too cheap as a subby?

Hourly or ½ day?

[al-yeti]

1 hour ago, mountianrider said:

Is £150 too cheap as a subby?

Is it on your door step and as above half day ?