If you’ve learned a trade, and you know that there’s public demand for your services, then starting a business of your own might seem like a tantalising option.
Why run a trade business in the UK?
In the UK, millions of self-employed tradespeople earn a living. They’re able to spread the word of their services as never before, thanks to the proliferation of the internet. While certain sectors might be under threat from artificial intelligence and other emerging trends, hands-on professions look a little more secure. Electricians, plumbers, plasterers and carpenters are all in strong demand – and that demand looks likely to persist over the decades to come.
Business planning
Every successful business starts with a well-formulated plan. A business plan is a document through which you’ll be able to set out your vision, and the steps you’ll take in order to realise it. Your business plan shouldn’t simply be a one-off, but an ongoing effort that’s regularly revised as the conditions change.
Financial planning
Once you know what you’d like to achieve with your business, and you have a plan in place to achieve it, you can think about how you’ll finance the venture. Keeping control of your finances after you’ve begun is essential. Monitor your outgoings, and see where you can make efficiency savings without compromising on the quality of your output.
Services and offerings
What services will you be offering, and how will you compete with the other tradespeople in the vicinity who are offering the same set of services? You might seek to vary your offering by generalising. This might make you appealing to certain clients, who’d appreciate a person who can do many things well. On the other hand, you might specialise, and thus narrow your appeal. If you’re the only person in a five-mile radius who can work on plastering in historic buildings, then you might get plenty of work.
You might also think about the quality of the tools you’ll be using. By investing in excellent tools, you’ll be able to perform your work to a high standard. You’ll enjoy superior results, and superior longevity – provided that you maintain and store these tools properly. It usually makes sense to buy everything from the same brand. A range of Milwaukee cordless tools might be combined with a selection of Milwaukee batteries.
Branding and marketing
If your would-be customers are unaware of the services you’re offering, then you’ll struggle to sell those services. Branding and marketing matter a great deal. For best results, a multi-pronged approach is usually required. Spread the word via flyers, business cards, and word of mouth – but don’t neglect the importance of an online presence. Especially among younger people, a good reputation on social networks can make all the difference.
