Working as a self-employed electrician is a great option for people who would rather stay independent and can work on the jobs they want. It might also allow you to make much more money than you could ever imagine as an employee.
You do have to be prepared for the challenges that come with being self-employed, however, and make sure that you have the character it takes to make it. This is a business you’ll be running too, so you have to learn some basic business principles before getting started. Here are a few tips for success all aspiring self-employed electricians should follow.
Choose the Right Structure
You can start as a limited company or as a sole trader, and before you choose one of the two options, you need to look at the pros and cons of each first. The main benefit of starting as a sole trader is the simplicity of the process. The biggest issue, however, is that you may have more trouble protecting your brand and you will be personally liable for anything that happens with your business. Getting financing might be a bit more difficult too.
With a limited company, you’ll be able to have a protectable brand and will come off as more professional. Welcoming partners or getting financing will be easier too. So, think long and hard before you choose any structure so you can get the most benefits.
Look for Good Suppliers
How much you pay for supplies will have a direct impact on your bottom line, so you need to find good suppliers with a wide selection that can offer great deals no matter how much or how little you order from them. A supplier like powerpointelectrics.co.uk would be a great option as they are used to smaller operations and will offer preferential deals to regular clients.
Brand Yourself from the Get-Go
If you want to get some attention without having to constantly pump money into marketing, you have to focus on branding. You should consider getting your vehicle wrapped with some eye-catching graphics. Just seeing your van parked or on the road can be enough for you to get enquiries, so don’t underestimate the power of this technique.
Treat Your First Clients Like Gold
You have to know that your first clients can either make or break your reputation, so you have to treat them right if you want to get return business. You can also use your first clients as referrals or ask them for testimonials. These will make a world of difference when people look up your service online.
Streamline and Automate Your Back Office
Make sure that you use tools to automate transactions, tax filing, invoices, and customer relationships. A CRM will allow you to do all of these things, so start looking at options right away. You will be able to integrate your CRM with your accounting tools and avoid getting into tax trouble. You’ll also be able to minimise the number of menial tasks you have to perform while reducing the risks of human error.
These tips will help you start your self-employed electrician business right. Before you start, it would be a good idea to speak with a few people who have gone down that route and ask them what kind of obstacles they had to face, and how they surmounted them.
