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I'm looking into starting a small business 'on the side' building decks, pergolas, landings/stairs etc on the weekends under the magical $5000 mark so I dont have to register myself as an Registered Building Practioner (yet). Do you guys think it would work ?
It could work, if you can get the work. I presume you have an ABN, liability insurance etc?
I don't know Vic rules but in NSW you have to have Home Warrantee insurance to do domestic work. You will still need Public Liability insurance and if you are going to get a mate to help you you will need workers compensation Insurance. It seems to go on and on. Having said that if you have the skills and you recon you can make it work go for it. But get all the nessesary insurances - there are enough cowboys out there as it is.I started my own business going around knocking door to door asking people if they wanted any work done that was 23 years ago and I'm still in business!
Good luck Andrew
Of course thats the other thing TAX. As I understand it you dont need an ABN if you turn over less that $50K a year so you dont have to collect GST. If your thinking of just doing cash jobs a word of warning someone sooner or later is going to refuse to pay you on some stupid excuse. If you havent been declairing your income there will be little you can do about it. Once again its best to do everything by the book.:)Quote:
Originally Posted by Wood Butcher
Yes it will work providing you are prepared to follow some basic guidelines.
Always turn up
Give customers a narrow window on your turn up time [I'll be there between 1 and 3pm]
Dont be too cheap on your quotes but dont gouge
Look after you customers like gold as they will refer you on
Do the best qulaity work and use first quality materials
Conduct yourself respectfully on the job [dont swear in front of kids girls etc when you hit your thumg with a hammer.
There are 3 rules in successfull buisness
1. The customer is never wrong
2. The customer is always right
3. refer rule 1
If you can service a customer so they feel as if their satisfaction is the only thing of importance in your world and you are fair to yourself in pricing a job you cannot fail. Most people wont quibble on the price of excellence.
There are so many slack tradies out there who care more for beer than their customers, do crap work, turn up when it suits them that you will succeed.
btw if anyone asks, you are alway really busy but have no problem fitting them in.
One thing about only doing "cash" jobs to avoid tax etc. is that there is somewhat of a stigma attached with "cash only" people being automatically assumed to be dodgy. Sure some people will want to pay cash to make it cheaper for them but a lot more people will like a receipt for their money too!
One assumes you are a tradesman and not some idiot DIYer who thinks he is......
By the way, this section calls for a poll, where is it???
Thanks Guys, I'll keep all that in mind.
I dont know where the poll is - I filled out the four boxes......
Fixed. If you want other questions inserted PM me.
Can work? Yes. Will work? Entirely up to you... :)
some more points
oh and i have been in business for 40 years
there are 4 kinds of money
cash
eftpos [i carry a mobile eftpos machine costing $68 a month]
bank cheques
postal orders
a personal cheque is usually a message from the customer that he is not paying you
eftpos usually has a limit of $1000 per day so if its bigger than $1000 take it in $1k progress payments as you complete. write that into your contract
gst? make sure you register as you can claim all gst on materials and tools and you get that gst back in cash from ato also you dont have to charge gst if you turn over less than $50k per annum
all the best with it
Do whatever you like just make sure that there is Insurance covering whatever you do.
Having a judgement for injury go against you without insurance is not worth experiencing:o
G'day andrew076,
I'd say get yourself a Registered Building Practioner ticket, otherwise what happens when you hit the job that's worth $6K, $7 or $10, you going to turn it down?
And like WoodButcher posted, you'll need an ABN, workers comp, public liability etc. Money you'd rather not pay but best if you have them.
Work along the Scouts' moto - "Always prepared"
Gday Andrew076,
If i can make a suggestion.
Jump in your car and drive about 3000k's west and you will get you all the work you can handle.
You can start at my place!!!
It is near friggin impossible to get anyone over here at the moment without hearing the old "im flat stack for the next 3 months, Did you say cash, i will there tomorrow......oh and i will work all night and weekends too"
Needless to say there is a lot of opportunity here, you might have to live in your car as there isnt a lot of rentals around but given the money you will be earning it would be a bl###dy nice car.
Steve
beats UK work :rolleyes:
Second that one from Steve :roll:Quote:
Originally Posted by maglite
Not sure about the ABN, I think you need to have that regardless of turnover or earnings. I was under the impression you must have an ABN for any business activity that you engage in. The GST thing has, apparently been lifted to $75000.00 before you need to collect GST. Again, don't know about your state but up here in Queensland you need the appropriate license for your trade for work over $1100.00 including materials and labour costs.Quote:
Originally Posted by Bleedin Thumb
I might add he is either on his way to making his millions or has gone back to working for a boss.
He posted this nearly 12 months ago.