Employee or self-employed?
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worthy10
Posts: 1 Newbie
My friend has bought a franchise with a courier company and he wants me to work with/for him. What are the financial pro's and cons of both options?
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As far as I'm aware you don't get to choose whether you are employed or self employed its down to the facts
https://www.gov.uk/employment-status-indicator0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
House sale OCT 2022 = NOW MORTGAGE FREE 🤗
House purchase completed FEB 2023 🥳🍾 Left work. 🤗
Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).
Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1
Living off savings diary
https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p10 -
Skint, lots of people work for courier companies as a self-employed person, own van, insurance, ( personally I don't think it's right, but that's a different thread).
worthy10 if you considering becoming self-employed, then in effect you are taking more of a risk. There is quite a wide gap between the better and the worse courier companies and margins are very tight. Is it a well-known courier company, if so it'll be more stable. If it's a newcomer to the market or does not have a good market share, then I'd worry about making the investment of buying a van.
I suppose it's about how much risk you are willing to take, but I'd ask myself how self-employed you are, when in effect you are working for one guy.0
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