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Expansion Advice

  • 12-07-2015 07:35PM
    #1
    beardybob
    Registered Users, Registered Users 2 Posts: 36 ✭


    Hi, I am running my own plumbing business for the past 6 years. I seem to be very busy yet with all my over heads, P.L. ins, Van etc etc My bank acc never seems to get any bigger.
    I have thought about going down a different route i.e. commercial ( starting on a small scale. I am originally a commercial/ind plumber but when times got tough i had to start my own thing.

    Any advice ?????
    Tagged:


Comments

  • #2
    wilser
    Registered Users, Registered Users 2 Posts: 1,116 ✭✭✭wilser


    Something that was said to me when I was in a similar situation to yourself
    Work for nothing and you will always be busy.
    If you are as busy as you say, like I was, review your prices as this was where I was falling down.
    Can't comment on whether or not to go commercial or stay domestic but I would have thought you'd be going from the frying pan into the fire unless you start making money for the work you are doing.
    Best of luck either way.


  • #3
    Wearb
    Moderators, Home & Garden Moderators Posts: 6,587 Mod ✭✭✭✭Wearb


    Welcome to my world.

    Sorry I can't be of any great help, but the oil boiler business is a bit like that. Too much down time in the warmer months.


  • #4
    K.Flyer
    Registered Users, Registered Users 2 Posts: 8,560 ✭✭✭K.Flyer


    beardybob wrote: »
    Hi, I am running my own plumbing business for the past 6 years. I seem to be very busy yet with all my over heads, P.L. ins, Van etc etc My bank acc never seems to get any bigger.
    I have thought about going down a different route i.e. commercial ( starting on a small scale. I am originally a commercial/ind plumber but when times got tough i had to start my own thing.

    Any advice ?????



    This idea I would approach very, very carefully. The biggest problem with commercial work is cash flow and waiting to get paid which is something that can destroy your business very quickly. I will only consider commercial work if it comes via a reliable source, there have been too many people stung not getting paid or waiting forever to get paid for commercial work.
    A point in hand, last week I received a cheque for a small job I did back in October 2014 for a particular company. There was no dispute over the work or the cost, just typical of how slow it was getting paid from them. Needless to say I don't do anymore work for them or their like.
    As Wilser said earlier, first check your rates and see how you are comparing to the norm, a few euros extra per call could make a difference.


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