Earning a living as a tradesperson can be extremely rewarding, in every sense of the word. If you’ve built up a skill over the years, then you might find that it’s just a small step to start up your own business, set your own hours, decide which projects you take on, and set your own daily rates.

When are you ready to start a trade business?

Having been an employee for a few years, you might determine that you’re ready to start out on your own. It’s worth having a strong base to build from. Get as much experience as you can, in a diverse range of settings. Make sure that you’re appropriately qualified to perform the services you’ll be advertising.

It’s also a good idea to build up a cushion of cash. That way, if things don’t work out during the first few months and years, you’ll be able to weather the storm.

Work part-time to begin with

One way of managing the risk during that crucial early period is to make your business a side-hustle. Start small and work your way up. You might combine your new job with your existing one, especially if you can find the time in evenings and weekends. That way, you can get a feel for how things are going to be, before you dive in.

Get the correct insurance

All businesses are legally obliged to be covered by employee liability insurance. But it’s also worth shopping for public liability insurance . This is what will bail you out, if a member of the public should injure themselves as a result of your activities. Depending on the trade you’re engaged in, you might shop for a more specialised insurance product, as an added precaution.

Employ staff and grow your business

When demand is high enough that you can’t cope with it alone, it’s time to bring in staff of your own. Make sure that they’re adequately onboarded, and that they have all of the appropriate equipment. This means the tools to do the job, and the PPE to do the job safely.

Market your business

Your business will only succeed if you can bring in a steady stream of clients. Ideally, you’ll have so many people interested in your services that you’ll be able to pick and choose the clients you prefer. You might drive awareness through several different means. You might create a website, establish a presence on social media, take out ads in your local paper, invest in branded liveries for your vehicle, or hand out business cards. Ideally, you’ll do all of these things. Remember, however, that it’s word of mouth that will make or break your reputation.