Turning your DIY hobby into a profession

Many of us are turning to DIY as a way to save some money, and some of us are finding that we're

actually pretty good at it. When you've had some practice improving your own home it may cross

your mind that you could do the same job for other people and make some money. Whether your

talent lies with fitting bathroom wall tiles, painting and decorating, or building kitchen cabinets,

there's a business opportunity in it. There's been a lot of redundancies lately, and for anyone who

has been made redundant it could be a great chance to start something new. Many people dream of

being self-employed but it doesn't come without risks. There's a lot to think about.

Firstly you need to work out if you can afford it. There will be peaks and troughs in your work so

it's a good idea to have some savings put aside to see you through the quiet times. You need to bear

in mind that it can take a while to get a business up and running and actually get customers. You

may need money for advertising etc. and also for tools if you don't already have them.

You'll need to register with the tax office as self-employed and you must remember to put money

aside to pay your tax bill at the end of the year. Most people are asked to pay a lot of tax in their

first year in business as the tax office can demand that you pay part of the next year's tax in

advance.

You will also need business insurance. There is a risk, especially when you're working in someone

else's home. You could damage something. For example if you were tiling a bathroom you could

drop a tool from a height and smash the bath. You would be liable for fixing it. Even worse, if you

happened to leave something unfinished or made a mistake, say perhaps with electrics, and

someone was injured as a result of your work, they could sue you and you could well be liable for a

huge payout. If this injury resulted in them being unable to work, it could mean that you were sued

for their loss of earnings too. It's not worth taking the risk, you should have public liability

insurance to cover you for this type of eventuality. If you have anyone working for you, even if they

work part time and even if they are not paid you must have employees liability insurance too. This

is a legal requirement and you can be fined for not complying with this.

Working for yourself can be stressful, not having a regular wage, and having to sort out your own

accounts can be difficult but it is very rewarding, working your own hours, managing your own

work, and knowing that your success is down to you. As you build up your business you'll get word

of mouth recommendations and hopefully if you're doing a great job you won't be short of work.

We supply a wide range of tools to help you start your journey into a new career: www.hss.com