Ideas/feedback.

[sinbin5t]

As missfire said, get an order book together then go see what the money men say
I'm talking from experience here

[audi80fan]

Originally Posted by missfire

Not sure a 20k rental + rates

That's the problem, how much money can one person earn, you need to clear £20,000+ net profit (25-30,000 gross) just to start making a profit.

Big weight around your neck, thats a lot of work. Keeping costs down is critical.

[missfire]

Originally Posted by audi80fan

That's the problem, how much money can one person earn, you need to clear £20,000+ net profit (25-30,000 gross) just to start making a profit.

Big weight around your neck, thats a lot of work. Keeping costs down is critical.

It's critical to keeping stress down in the first year but get the calculator out -

40hr week (8 hrs x 5 days) @ £30/hr 48 weeks/year is £60k or thereabouts
12hr days 6 days a week is over £100k/year

(Adjust hourly rate as you please!)

The work will come! Trust me!

I'll build you a website, no other bugger's every paid me to do theirs anyway, all friends and family.

[the red baron]

Hi Tony, yes that is me! I had my own building company many years ago, my work was never in question, but things never worked out as well as I wanted. Mainly because I listened to the wrong advice, people will always give their opinion about things, that is how we make decisions, but ultimately it,s you that it effects. My opinion for what it is worth, is with your knowledge and skill, this could work. It is hard work running your own business, but it is also very satisfying and we need more skilled people like you, that are not only interested in helping themselves. You can be a great service to car enthusiasts like myself, that appreciate your work. You are welcome to come over and see A100 GRW anytime, and maybe you may like a cup of tea and a chat too! I can tell you the whole story of the car. If you want my phone number pm me!

[sinbin5t]

Originally Posted by missfire

It's critical to keeping stress down in the first year but get the calculator out -

40hr week (8 hrs x 5 days) @ £30/hr 48 weeks/year is £60k or thereabouts
12hr days 6 days a week is over £100k/year

(Adjust hourly rate as you please!)

The work will come! Trust me!

I'll build you a website, no other bugger's every paid me to do theirs anyway, all friends and family.

It's critical to keep the stress levels down permanently i think !

60k sounds great.........but also to the taxman as well

And without being rude, how old are you Tony ?

Don't mean to be a doomsday man there but tread carefully, there is only one person that counts in this and it's YOU ! (and your family of course).
I set up when i was 22 and it went great ! but planning is everything still think you could do it

[missfire]

Originally Posted by sinbin5t

60k sounds great.........but also to the taxman as well

But if he's happy doing the job and happy to live on £20k to start with he's only going to pay 25% on net profit above £11k, so even a £60k, £40k is more than enough to run a one man setup in the right premises and he'll only get a £2k tax bill, not payable until he's been in business for 2 years. Which is probably less than he's paying now, and class2 NI is only about a tenner a month.

Vat is just taking it in one hand and giving it out the other at no cost to him.

[missfire]

He's getting old, that's why I'm trying to give him a kick up the ar*e. this must be the third time he's questioned doing this on classic audi. Stop fkin about Tony.

[the red baron]

There you go Tony, that sounds like the right kind of advice Time to get going Don,t forget to give him that kick up his a.se misfire

[sinbin5t]

Originally Posted by missfire

But if he's happy doing the job and happy to live on £20k to start with he's only going to pay 25% on net profit above £11k, so even a £60k, £40k is more than enough to run a one man setup in the right premises and he'll only get a £2k tax bill, not payable until he's been in business for 2 years. Which is probably less than he's paying now, and class2 NI is only about a tenner a month.

Vat is just taking it in one hand and giving it out the other at no cost to him.

he should have you as his accountant

[sinbin5t]

Originally Posted by the red baron

There you go Tony, that sounds like the right kind of advice Time to get going Don,t forget to give him that kick up his a.se misfire

Sounds like he will have a very bruised backside