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#1 05-09-05 19:50:19

JonnyG
Verified Member
From: Belfast
Registered: 13-01-05
Posts: 742
Website

Where do I start setting up business??!

Im on the verge of getting my pink licence and applying for my first part 3 attempt.
Im going to work part time on my pink with maybe just a handful of pupils per week then build it up from there.
I am still working full time (4.30am-12.30pm each day) and have afternoons free for sleeping and evenings free for teaching.
I am a youth worker in my town with connections in most of the churches, so I have a lot of potential pupils.

I need to know where I go from here..when do I need to register as self employed?
Do I need to have a Company policy or legal stuff in place before I start?
I have never been self-employed before and just need a bit of reassurance that I can make this career change smooth and productive.
When is it best to pack in my full time job?

PS. Ive also just got engaged and hope to get married in 2 years...with finances tight at the minute, how can I make the most of my extra income?

Sorry for so many questions but I guess some people here have been in my position too, and would be willing to advise.

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05-09-05 19:50:19

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Re: Where do I start setting up business??!



#2 05-09-05 20:36:39

Mmm
Member
From: W Sussex
Registered: 08-04-05
Posts: 262

Re: Where do I start setting up business??!

Phone your tax office they will explain everything. Basically just register as a sole trader, keep records of earnings and outgoings and that should be fine, you can either get yourself an accountant or do it all yourself (again with guidance from the tax office). And i believe your self-employment starts when you do your firstr job on a pink.

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#3 05-09-05 21:23:45

ck
Member
From: nottingham
Registered: 09-03-05
Posts: 304
Website

Re: Where do I start setting up business??!

Hi jonnyG,
Mmm is right about getting advice from tax office personally I would get an accountant,I know you will have to pay for this service but the tax man won't tell you all the wrinkles.
As forn when to give up your full time job thats always going to be tricky,
as idealy you want to wait till you've got a reasonably full diary however you can't take on students while your your working full time and in my experience most new pupils don't want to book even two weeks in advance never mind three or four while you work your notice ( that is unless they are recommendations).
So it seems you will have to take on as many pupils as you can manage along side your other job then at some stage take the plunge, however January may be a good month for the leap with all the kids getting money for Christmas and the new year resolutions etc but whenever you do it it will be nerve racking.
Hope this is of some help but probably not.
Good luck

ck

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#4 06-09-05 08:14:26

LeanneADI
Verified Member
Registered: 20-08-05
Posts: 556

Re: Where do I start setting up business??!

Can you maybe cut down your hours at your full time job while your building up your base of learners?

I started with a few learners on weekends and odd evenings.  I got quite busy then and just left my full time job.

I only have about 24 hours a week at the moment.  You can always guarantee a few cancellations too.  So be aware there are quiet and busy times.  So maybe a part time employment to start!


Leanne

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#5 06-09-05 10:06:10

luchell
Guest

Re: Where do I start setting up business??!

register as self employed once on your pink. dont quit your job until youve bagged part three. i had no choice due to injury luckily things worked out fine as i sold my car for extra money to! couple of weeks before part three.

a pink wont earn you too much its for training remember. dont get carried away with tany money as its how you spend your time teaching that counts. make sure youre not too tired to pick up a book and study every evening if poss.right now part three counts. money doesnt. you will be able to get yourself known whilst on a pink, and when you get your green hopefully you'll be able to carry on doing just instruction because you will have a pupil base you can build on.

good luck. when do you start on your pink? have you got a sponsor sorted?

#6 08-09-05 15:08:36

JonnyG
Verified Member
From: Belfast
Registered: 13-01-05
Posts: 742
Website

Re: Where do I start setting up business??!

I havnt been able to reply until now, cos my computer decided to go on strike!
Thanks for your replies..Ive been givn a number for a sponsor and phoned him today, only to find that its a bogs number. so yelow pages time.

Im looking at almost new or re-possesion corsas at the minute, and have bought a cheap roof sign from an ex adi friend.
My brother in law is an accountant, so I may tok to him about all the legal stuff.
busy.

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#7 08-09-05 20:53:45

jeni
Verified Member
From: Poole Dorset
Registered: 05-10-04
Posts: 444
Website

Re: Where do I start setting up business??!

Hi J

Took me a while to find the new redirected web site but got here in the end   wink

You may want to hang fire a bit - you may (and I say may) find a sponser who will only take you on if they supply the car

As for the top sign this must be provided by your sponser with their name etc school details on top

You cannot advertise under your own name so they must supply the top sign or you have to buy your own - ours come from RCM and must comform to our regs   roll

The market here is being saturated with Pinkies I have had 7 enquires this week so its getting harder and harder to find a sponser

Can I ask ??? when do you intend to take pupils on test??? What if they have booked a 10.31 for next monday?? or 11ish or 1.33

Many pupils do not want to do evenings in the winter as it gets dark and would prefer to do lunchtimes etc or early on weekends

I would also suggest you get an accountant as you will need sorting out if you are paye at the moment

Hope this helps and good luck finding a sponser   lol

Jeni


Jeni Holland ADI Driving Instructor Trainer (Passed Ordit 2006) Pay as you go trainer
www.abfabdec.co.uk

Poole Dorset 01202 259382

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#8 01-02-06 17:06:39

JonnyG
Verified Member
From: Belfast
Registered: 13-01-05
Posts: 742
Website

Re: Where do I start setting up business??!

I got my form from tax office the other day.
It askes me to supply my business name and address.
I cant use my own name and address as the trainee licence doesnt permit setting up a business in my own name or from my home address, so what do I fill in here?  Do I have to get my sponsor to fill in this bit, and can I change it when i finally pass my part3?

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#9 02-02-06 17:59:47

Colin Martin
Verified Member
From: Southsea
Registered: 21-01-05
Posts: 2,465
Website

Re: Where do I start setting up business??!

I got my form from tax office the other day.
It askes me to supply my business name and address.
I cant use my own name and address as the trainee licence doesnt permit setting up a business in my own name or from my home address, so what do I fill in here?  Do I have to get my sponsor to fill in this bit, and can I change it when i finally pass my part3?

How to fill out the pinkie application

The box top right on the front page must have the address of your sponsoring school. Unfortunately you have to go with a school at this point and are not allowed to advertise for your own business. There are may be some ADIs who will take it very seriously if you do and may report you, not worth the risk.

The box underneath is for the name and ADI number of your trainer, the person giving you part 3 tuition who fills in all your training forms.

There are 2 declarations on the back. One for you to sign and one for the owner of the school who you work with.

This is all only relevant whilst you are on a pink licence. As soon as you qualify you can work for yourself. Choose your school wisely because it will be more paperwork for the DSA if you change half way through.

Your business name and address is your name and address because even when working with a school you are a business in your own right. It is a business to business relationship unless the school put you on a payroll which is very unlikely.


Colin Martin
The Bright Red L http://thebrightredl.com
Instructor Apps http://drivinginstructorapps.co.uk
Apps Video channel https://www.youtube.com/colinbythesea

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#10 07-02-06 12:18:12

richie
Guest

Re: Where do I start setting up business??!

Hi all,
Am new to all this forum stuff so please bear with me!!
I am just about to complete 40 hours and apply for pink licence.
I have set up business account and registered as sole trader (self employed) with the tax office.
For those who aren't aware it reduces your NIC to £2.10 a week and also sets you up in the system for the dreaded self assessment tax return. You can print the forms on line and then post them. All sorted within 10 days!!
I have thought about accountants but talking to business manager at bank when setting up account, was advised that provided everything to do with your driving business goes through the account ie petrol, car, franchise etc etc and you keep receipts for petrol and the statements,in the grand scheme of things it is all relatively simple to complete your own tax return. I am going to give it a go next year and see how things pan out.
Became unemployed as of Jan so pink licence obvious way ahead whilst waiting for first part 3 test.
I am fortunate enough to have found a sponsor and all is looking quite rosey. Fingers, toes and everything else crossed!1


Richie

#11 07-02-06 12:21:06

luchell
Guest

Re: Where do I start setting up business??!

Hi Richie and welcome to the forum. Sounds like you're getting yourself well and truely sorted out there.

I pay a book keeper 12 pounds an hour and he puts all my receipts in order and gives me lots of good advice. I find this easier to keep organised. I will just give everything he has done to my accountant to do my tax return. Sure it costs more but i can have more peace of mind it was done properly as im rubbish with things like that! :oops:

#12 07-02-06 12:29:53

richie
Guest

Re: Where do I start setting up business??!

Its amazing what a few weeks of unemployment will do for your enthusiasm towards your next job!!
I've had plenty of time on my hands to go and annoy people and get things done and do have quite a warm fuzzy feeling at the minute.
Being quite a confident type and generally willing to try anything at least once I'm going to try and keep my accounts in order though may rapidly resort to your preferred method of sanity!!

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