Starting a business advice

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Kj12345

New Member
Hi new to this forum I am looking to ask advice on starting a business my good friend is a time served plasterer and tiler he has wanted to start his own business but has no capital to do it but I have and am financially sorted but I was going to do an nvq course in plastering and tiling to get bit of knowledge of the trade then after that me and him could start our own business as I have the funds to start it and he has the experience in realistic terms i would be his labourer as I have no experience apart from the course i would do but be business partners at the same time and could learn more as we worked together any advice would be appreciated thanks
 
My advice is don't do business with friends or family, it will get messy and potentially cost you more than money, and cause you tears before bedtime


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Ive got the brains , you've got looks let's make lot of money

Worst ship that sailed partnership

I remember starting my business ihad 6k for a van & my tools ..
I worked 7 days a week for over 2 years I certainly could not afford a labourer .
If you mate was ambitious enough , he would be doing it with his own money
& grafting hard to be successful

Good luck
 
Kj12345 said:
Hi new to this forum I am looking to ask advice on starting a business my good friend is a time served plasterer and tiler he has wanted to start his own business but has no capital to do it but I have and am financially sorted but I was going to do an nvq course in plastering and tiling to get bit of knowledge of the trade then after that me and him could start our own business as I have the funds to start it and he has the experience in realistic terms i would be his labourer as I have no experience apart from the course i would do but be business partners at the same time and could learn more as we worked together any advice would be appreciated thanks
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The course won't help you at all! You will have to deal with completely different problems if you get involved with him- always being the dead weight and less productive within the team. If not at the beginning , shortly after that he will start moaning about it and this will reflect definitely the payments . That's the negative side. The positive- if he is good you will learn more for 3 months with him than 1year in college or course. If you get involved just be prepared for dodgy games!
 
Kj12345 said:
Hi new to this forum I am looking to ask advice on starting a business my good friend is a time served plasterer and tiler he has wanted to start his own business but has no capital to do it but I have and am financially sorted but I was going to do an nvq course in plastering and tiling to get bit of knowledge of the trade then after that me and him could start our own business as I have the funds to start it and he has the experience in realistic terms i would be his labourer as I have no experience apart from the course i would do but be business partners at the same time and could learn more as we worked together any advice would be appreciated thanks
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agree with all replies on here i have seen so many people do something like this and it never works you will be lucky to go 6 months before departing ways
 
Thanks for your replies its appreciated it is a situation where I need him for his experience and knowledge and he needs me because I can afford for it to start up as he has kids bills he can't get a loan he needs a van and extra pair of hands for the work he gets offered as he is good at his trade but we have came to an agreement we go 50 50 on payments until he is contributed to half of the startup costs then after this I am willing to take a less wage than him after expenses as I make lot of money from properties i have I just see this as a good opportunity for both of us and I can have my own business and be learning at same time so to speak I knew a guy who done this with another and it's been going ok
 
As your financially sorted? Go to Vegas and everything on Black (y) then live like a king and f**k plastering off and your mate too :birra:
 
Apart from tools (im sure he has these as hes been in the game long enough) i guess transports his problem?? He must have buisness contacts so why he cant manage on his own is beyond me ordoes he need a brand new van a machine and lock up and secretary etc etc
 
After 15 years I still under quote and sometimes struggle to get jobs done for price I have quoted,some go great and make more than expected but most the time getting paid plus the losses of being self employed on every stinky dirty job leaves you feeling like getting a job as a bus driver or something simple..if I had to give money to someone else as well I probably would just tell people all my work is free from now on,lol
 
Ye marshy he needs basically what you said he works for someone but apart from his work for the other guys business he doesn't have the funds to start and buy it the guy he works for has his own big garage but it's not his van all he has is some basic tools I know it might sound stupid to ask just that I know 2 guys in my situation few years back same thing and they are doing good but I understand what you are all saying it's risky
 
Kj12345 said:
Thanks for your replies its appreciated it is a situation where I need him for his experience and knowledge and he needs me because I can afford for it to start up as he has kids bills he can't get a loan he needs a van and extra pair of hands for the work he gets offered as he is good at his trade but we have came to an agreement we go 50 50 on payments until he is contributed to half of the startup costs then after this I am willing to take a less wage than him after expenses as I make lot of money from properties i have I just see this as a good opportunity for both of us and I can have my own business and be learning at same time so to speak I knew a guy who done this with another and it's been going ok
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It'll never work... he'll be doin all the work and you'll be watching. ..he won't pay you 50% on wages day... he'll let you set him up then pay you £60 @ day...
 
Also if.your into property in a big way surely your time is better spent there ??? He only need a you for a van and you don't really need him at all....
 
One of the biggest plastering contractors in Manchester started as a bank cashier and noticed the cheques being cashed on a Friday. He got left a bit of inheritance then set up and the lucky c**t sold it a month before the crash and sailed away to New Zealand I believe. What everyone says is right about the setup but sounds like a good idea so good luck and keep us updated xx
 
Ye windy get what your saying but is there a way like through a business lawyer to get something in writing that we are partners and not employer / employee and that when I pay for the stuff that I am in charge of what happens to tools and stuff i paid for to start so if it goes wrong its mine to sell as i said before 2 other guys in similar situation and the guy who funded it got it writing that they where partners but if they sold there stuff if it didnt work out it was his alone to sell but you are right I am stable my property are rented i don't do developing or anything like that and ye flynnyman I have heard of people doing stuff like that and i know it could go wrong that's why I am trying to get as much advice as i can i know lot of businesses go bust because they don't have emergency money to pay there lease on van etc for when they have bad weeks etc
 
You can sort the tools out between yourselves if it doesn't work out, I'm sure he will let you keep the bucket trowel and the sweeping brush ;) whatever you build up between you will be based on his skills, you may have the contacts but they don't mean s**t if you can't plaster. Going into the business trying to cover every base and its all in your favour. coz you have a couple of quid in your pocket, is not a good way to start. You have to throw all that into the mix and if it doesn't work out split it coz he can't take the skills back off you. It sounds simple and good but it's hard work especially when your working for nothing coz the job was priced wrong. It's either all in or not at all, you can't have your cake and eat it and your the one who will do well out of it, if it works out, coz you have learnt a skill you will have for life.
 
flynnyman said:
You can sort the tools out between yourselves if it doesn't work out, I'm sure he will let you keep the bucket trowel and the sweeping brush ;) whatever you build up between you will be based on his skills, you may have the contacts but they don't mean s**t if you can't plaster. Going into the business trying to cover every base and its all in your favour. coz you have a couple of quid in your pocket, is not a good way to start. You have to throw all that into the mix and if it doesn't work out split it coz he can't take the skills back off you. It sounds simple and good but it's hard work especially when your working for nothing coz the job was priced wrong. It's either all in or not at all, you can't have your cake and eat it and your the one who will do well out of it, if it works out, coz you have learnt a skill you will have for life.
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U do realise flynny that this is Vince...i think he's bored so he's making a few threads
 
Ye flynnyman fair point mate just trying to think if it will be worth it or not n what to do I'm keen to do it just don't know if it's goin be worth it the only reason I thought abt it as know it worked for 2 other guys in same boat and they done fine
 
Kj12345 said:
Ye flynnyman fair point mate just trying to think if it will be worth it or not n what to do I'm keen to do it just don't know if it's goin be worth it the only reason I thought abt it as know it worked for 2 other guys in same boat and they done fine
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Y dnt u just keep buying property if uve got money and let him be ur refurb guy and pay him a wage..ud earn miles more that way..no way is this genuine as that's wat u wud be doing,that's wat id do If I had enough dosh id buy and flip houses
 
Kj12345 said:
Ye flynnyman fair point mate just trying to think if it will be worth it or not n what to do I'm keen to do it just don't know if it's goin be worth it the only reason I thought abt it as know it worked for 2 other guys in same boat and they done fine
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Sack it mate not once have you shown any interest in plastering, this is the most physically demanding job in the building game, unless you have a desire to create something beautiful and be happy with that, rather than thinking your gonna be a millionaire stick to what your doing, where you based?
 
flynnyman said:
Sack it mate not once have you shown any interest in plastering, this is the most physically demanding job in the building game, unless you have a desire to create something beautiful and be happy with that, rather than thinking your gonna be a millionaire stick to what your doing, where you based?
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He's pinning all his hopes on 2 other guys whove made it a success lol..
 
Why not just get a proper contract written up and give him a business loan with a small interest fee as he's a mate, that way you ain't wasting your time labouring and can concentrate on doing your own thing? The possibility of it going wrong then lies on him and not both of you, cus the argument will be you ain't pulling your weight as your only a labourer and he wouldn't be where he is without your money


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how much money does it actually take to "launch" a plastering business? Cant you just lend him the money at a good rate and stay friends and guide them... you will be the dead weight for sure... and I am not sure how much money you are investing but cant see you needing massive amounts...

I would say there are better options out there
 
themucky1 said:
Why not just get a proper contract written up and give him a business loan with a small interest fee as he's a mate, that way you ain't wasting your time labouring and can concentrate on doing your own thing? The possibility of it going wrong then lies on him and not both of you, cus the argument will be you ain't pulling your weight as your only a labourer and he wouldn't be where he is without your money


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whoops I should have read all the way down :) I agree with what you say :D
 
Starting a business advice
 
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