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Author Subject: New leaf
clen666

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Location: Co. Durham

Registered: 12 Feb 2009

Posts: 2,401

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Post #26
If you paint my car for free, I don't mind telling people it was you that done it.

It's very rare you get an advertising opportunity like this, I suggest you take it Wink

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Posted 11th Jul 2012 at 11:41
arigti6

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Location: Wiltshire

Registered: 24 Jan 2010

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Post #27
From the workmanship and time that you put into the 'Sedan', I would be fairly happy to bring my car the 90 or so mile Journey as long as I am not waiting 6 weeks for it to be done... Wink Besides I love Devon, be EPIC to pick the car up and go for a Devonshire B road blast!!! Thumbs up

________________________________________

I Live for the 306 Ninja

TEAM CHERRY PINK RALLYE
2008 BMW ///M 320d
Posted 12th Jul 2012 at 01:06
owain

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Post #28
Matt's certainly right that it becomes so much more than a job, you need to be prepared to work long hours seven days a week to get it up and running, and also know you can deal with the amount of stress that comes with it.

Just make sure you're prepared and you'll be fine Thumbs up

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Posted 12th Jul 2012 at 07:45
dan86

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Location: Bideford

Registered: 10 May 2009

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Post #29
It took me 4 days to DA the sedan back to primer, re skim the rear quarters, prime, bake, wet sand, base/clearcoat and bake again. If I didn't have to reshape the repairs on the rear quarters it would have been down to three days. Although I did spend a couple of days wet flatting and buffing afterwards. To be honest it didn't need flatting. It wasn't necessary.

This is something I'm going to have to start off slowly and in my spare time I think.

________________________________________


Posted 12th Jul 2012 at 08:10
dan86

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Post #30
owain wrote:
Matt's certainly right that it becomes so much more than a job, you need to be prepared to work long hours seven days a week to get it up and running, and also know you can deal with the amount of stress that comes with it.

Just make sure you're prepared and you'll be fine Thumbs up


Very realistic point of view as always mate. You're totally right and I will have to seriously think long and hard about the whole thing.

I'm going for an informal interview today to see someone about a job working offshore. It would be 4 weeks on, 4 weeks off so maybe start doing bodywork on the 4 weeks off?

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Posted 12th Jul 2012 at 08:15
owain

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Location: Essex

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Post #31
dan86 wrote:
I'm going for an informal interview today to see someone about a job working offshore. It would be 4 weeks on, 4 weeks off so maybe start doing bodywork on the 4 weeks off?


It depends on the terms of their contract - some jobs don't like you having another as the idea is you're resting in your downtime, but with four weeks off I'd be surprised if almost all their staff don't have another job.

First up - consider what you can afford to live on. Obviously I don't know your own circumstances, but say you have rent/mortgage to pay on your house, usual bills and bits, food and a little bit for yourself; that can easily add up to about £1500 a month. That's £18k a year net, which is £23k gross. Divide that up, giving yourself say two weeks in the first year for rest/illness/holiday/unavoidables and the company needs to be earning around £500 a week just to cover your living expenses, that's not taking into account *any* business costs whatsoever.

Add on rent for premises, materials, decent equipment, liability insurance, paying an accountant, and you're looking at needing to turn over about a grand a week to break even. Now initially that sounds like a lot, but you're clearly a man with skills, and you should be careful not to under-sell yourself. You obviously don't want to skimp on quality, so concentrate on that; if a guy says "oh go on, just give it a quick once-over and I'll give you £500", don't be tempted to take it. Appreciate that actually you'll end up spending an entire fortnight on it and losing yourself money, simply don't do the job and protect your reputation as a quality workman. If you do one "quick job for a mate", remember he'll go and show it to all his mates and say you did it - if it's not up to the standard you want to be known for, it's a bad idea.

For example at the moment we're looking to get websites and marketing done, and whilst there are people who'll do it for £500, I'd be looking to pay up to ten times that - there are people out there who will pay good money for a good job, so don't be afraid of saying "you know what, I'm damn good at what I do, so people can pay me for it", and they will.

If someone wanted a full respray job for example, and you knew it'd take you two weeks well you know how much you need to turn over to make a profit (say £1500 a week from the maths above), two week job = £3k plus materials. Guy gets a really good job for what is still a very reasonable price, you make about a grand in a fortnight, you're making £25k a year.

I'd recommend doing all the calculations using your own figures, you'll then be able to tell if it's feasible or not. Also consider that if you're only looking at working on it half the time you're still paying rent on premises when you're away doing other things, your costs don't stop because you're elsewhere.

Oh, and remember that many more people say "yeah mate I've got some work for you" than actually end up booking the work Wink

Best of luck.

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Posted 12th Jul 2012 at 09:02
dan86

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Post #32
That definately puts things into perspective. Hmm..

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Posted 12th Jul 2012 at 09:37
matt evans

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Location: Stourbridge

Registered: 16 Sep 2009

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Post #33
dan86 wrote:
That definately puts things into perspective. Hmm..


It sounds negative but you need to work out worst case sceanrio when it comes to take home pay. Some months when i was trading, i could just about pay myself £800, because the bills were very regular in coming. Other months were a lot better but its the ups and downs you need to cater for.

Owains very accurate in his posts above, Im sure he'll do well in his venture. Worst time i had was when i had 3 broken ribs. I could barely walk but i still had to be at work every day, doint paintwork corrections and machine polishing for customers who were booked in. Plain fact was i HAD no choice but to be there, could phone in sick or let someone else do it. Tough times but makes you appreciate how many one man business's face real struggles every day.

I admire anyone who has the balls to do it, takes some guts to go alone, and as an experience I dont regret my four years one bit, from a learning and character building point of view it was invaluable.

________________________________________

1999 Astor Grey GTi-6 OEM+ (now gone...)
2004 Aegean Blue 206 GTi 180 (also gone...)
2006 Skoda Fabia vRS in Sprint Yellow

honestly3k wrote:
Do you wrestle for a living matt? You sound like a monster LOL


owain wrote:
Nothing involving a 306 can be considered worthwhile.

Posted 12th Jul 2012 at 10:14
yippeekayay

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Post #34
Note to self...must work harder and appreciate what I do have. Must say matt and Owain...good advice from you both not rosey tinted optimistic spew. From the hip straight up experience. Good luck to you guys too. Wish I had some of that organisation in my life....

________________________________________

306 less for first time in nearly 7 years. Lets keep it that way... please refuse any offers i make to buy your 306 ( doctors letter supplied by request)

Marmite and cheese sandwiches anyone???

Burns and Mcrae will be forever missed.
x box "yippeekayaymofo"
Posted 12th Jul 2012 at 10:35
owain

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Post #35
yippeekayay wrote:
Wish I had some of that organisation in my life....


Wouldn't worry about it. Five years ago - hell even two years ago - I wouldn't have been ready, and if you're not ready it'll fail. You might do it now, you might be sixty and semi-retired, but once you've got the drive to do something you know could work, it'll be fantastic.

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Posted 12th Jul 2012 at 10:37
matt evans

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Post #36
What line of work are you going into Owain?

________________________________________

1999 Astor Grey GTi-6 OEM+ (now gone...)
2004 Aegean Blue 206 GTi 180 (also gone...)
2006 Skoda Fabia vRS in Sprint Yellow

honestly3k wrote:
Do you wrestle for a living matt? You sound like a monster LOL


owain wrote:
Nothing involving a 306 can be considered worthwhile.

Posted 12th Jul 2012 at 10:42
owain

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Location: Essex

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Post #37
matt evans wrote:
What line of work are you going into Owain?


Web hosting and virtualisation for businesses, and a bit of consultancy. Same stuff I was really doing at my last job, but doing it myself. I'm also a developer and I write the geeky stuff behind websites, so might do some of that too if the need arises.

There are so many companies out there who don't know what they're doing but have money, and I'm good at what I do.

Hopefully = profit Yes

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Posted 12th Jul 2012 at 10:51
roland rat

Yeeeah Rat fans!

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Post #38
Owain you're so wise,like a minature Bhudda
Posted 12th Jul 2012 at 11:58
arigti6

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Post #39
... Or a big Yoda?

________________________________________

I Live for the 306 Ninja

TEAM CHERRY PINK RALLYE
2008 BMW ///M 320d
Posted 12th Jul 2012 at 12:18
owain

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Post #40
Imagine Buddha but with Yoda's hair, you've pretty much got it

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Posted 12th Jul 2012 at 12:20
matt evans

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Post #41
owain wrote:
Imagine Buddha but with Yoda's hair, you've pretty much got it


And the james blunt checked shirt dont forgetLOL

________________________________________

1999 Astor Grey GTi-6 OEM+ (now gone...)
2004 Aegean Blue 206 GTi 180 (also gone...)
2006 Skoda Fabia vRS in Sprint Yellow

honestly3k wrote:
Do you wrestle for a living matt? You sound like a monster LOL


owain wrote:
Nothing involving a 306 can be considered worthwhile.

Posted 12th Jul 2012 at 16:02
owain

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Location: Essex

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Post #42
matt evans wrote:
And the james blunt checked shirt dont forgetLOL


Oh yeah, Buddha with Yoda's hair in a lesbian's shirt, that's pretty much me to a T

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Posted 12th Jul 2012 at 16:31
matt evans

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Post #43
owain wrote:
matt evans wrote:
And the james blunt checked shirt dont forgetLOL


Oh yeah, Buddha with Yoda's hair in a lesbian's shirt, that's pretty much me to a T


Thats pretty much your business plan isnt it owain?LOL

________________________________________

1999 Astor Grey GTi-6 OEM+ (now gone...)
2004 Aegean Blue 206 GTi 180 (also gone...)
2006 Skoda Fabia vRS in Sprint Yellow

honestly3k wrote:
Do you wrestle for a living matt? You sound like a monster LOL


owain wrote:
Nothing involving a 306 can be considered worthwhile.

Posted 12th Jul 2012 at 17:24
owain

Seasoned Pro

Location: Essex

Registered: 20 May 2009

Posts: 9,185

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Post #44
matt evans wrote:
Thats pretty much your business plan isnt it owain?LOL


The business manager in Natwest remained unimpressed

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Posted 12th Jul 2012 at 17:39
iplay

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Location: Number Wang

Registered: 18 May 2006

Posts: 3,268

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Post #45
Job role:

European Director of WIN overseeing Project X

Immediate start for a 'slightly' skilled person to work on poject WIN!
Job benefits include WIN! with minimal FAIL!
Salary to match previously FAILED employment.
Benefits include starting late, mid morning brewski's and convincing the wife we are working!
If you can perfect comments like .... 'hmmm this is a really dificult job and might take all year' ... your hired!
Posted 14th Jul 2012 at 10:36
dan86

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Location: Bideford

Registered: 10 May 2009

Posts: 548

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Post #46
Where do I sign?

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Posted 14th Jul 2012 at 11:25
mik

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Location: Kent

Registered: 17 Feb 2011

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Post #47
The only thing I would add to some very sage advice here is that the tax system in the UK is complex and you need a good accountant. Though it is not nearly as bad as the French tax system that is ludicrously complex.

________________________________________

Cherry Rallye SOLD

Posted 15th Jul 2012 at 10:51
davewagon

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Location: Corby / Northampton

Registered: 21 Feb 2007

Posts: 889

Status: Offline

Post #48
We'd be charging approx £1,000 for an accounts prep job like this (in the Midlands).

For that you'll get your annual accounts, filed with HMRC and Companies House, and tax calculations prepared and filed. (if you're a limited company, if you remain sole trader its even simpler and so probably a little less for you).

Tax wise, it shouldn't be too complicated, you may have a few fixed assets which you can get full allowances for in the first year to reduce your initial tax charge.

Get a cheap copy of sage or quickbooks if your familiar with double entry.

There's also a cheapish software called 'Kashflow' which is quite user intuitive and allows you to do most of your business needs while doing the double entry accounting side for you in the background.

You can let your accountant log into it (or give them a copy of sage) and they can just get on with it.

Or maintain a very good Excel cashbook if you're disciplined enough to make sure it agrees with your bank account lol.

Or just pay a bookkeeper every 3 months, but you'll still end up paying an accountant.

________________________________________

Team: Moonstone GTI-6
Team: Working air-con™

ian7675 wrote:
Remember....a 6 isn't just a car, it's a part time job Thumbs up
Posted 15th Jul 2012 at 11:19
ross1980

Newbie

Location: Edinburgh but live in Amsterdam

Registered: 14 Jul 2012

Posts: 49

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Post #49
Sad news mate but there's always something round the corner when you have a trade. I on the other hand have experience but no pieces of paper saying I can do the job.

I worked in Kuwait lastyear as a mechanic for the American Military, no mechanics papers but I had enough experience they required. When I returned home I couldn't find any work & sat on the dole for 3 months. Now I'm over in Holland because there's no work in Edinburgh & surrounding area.


Good luck with what's ahead Smile

________________________________________

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Scottish GTI-6 owner
Posted 15th Jul 2012 at 11:52
dan86

Senior User

Location: Bideford

Registered: 10 May 2009

Posts: 548

Status: Offline

Post #50
Thanks for all this advice guys, it's really helpful.

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Posted 15th Jul 2012 at 22:04

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