Would you take the risk?

muddyl

lincroft1710 wrote: »

Without knowing what it is I would be doing, how much the monthly fee is for website listing, whether it is a franchise or not, and how many hours in the month it took for someone to earn between £500 and £700, I'm unable to tell you whether I would take the risk or not.

The monthly fee would be £50 per month.

It is a franchise, just a small one. Basically he was one of the only people to do this as a mobile service. He gets too Many requests ( with too much travelling) to do himself, so now gets others too. There are I believe 5 other people working for him. 4 down south, one in the midlands.

One person I know does about 25 to 30ish hours a month to get 500 to 700 a month.

claire16c

muddyl wrote: »

The monthly fee would be £50 per month.

It is a franchise, just a small one. Basically he was one of the only people to do this as a mobile service. He gets too Many requests ( with too much travelling) to do himself, so now gets others too. There are I believe 5 other people working for him. 4 down south, one in the midlands.

One person I know does about 25 to 30ish hours a month to get 500 to 700 a month.

Well its not worth giving up your job for then.

If it something you could do as well as your full time job, then it could be worth doing - possibly. But without knowing what business it is, its impossible to say!

ditzyat50

muddyl wrote: »

.
I then get listed on a website for a monthly fee and wait for work to come in (would do weekends so still have day job).

The problem is these is no guarantee of work. I know one person who has done the same and gets about £500 to £700 a month for it, but he is down south, i'm up north.

/QUOTE]

Yes I would take the risk but with a plan in mind. Basically I would give it 3 months and if after paying 3 months monthly fees if there was no work in that 3 months, then I would cut my losses and be satisfied I had given it a go. The only thing you have got to loose is 3 months web fees and at least you are not ditching your current job. It may sound a bit sceptical to those of us reading because you have not given us information of what it's about, and that in itself makes us wary. Could it be a scam? but would you forgive yourself if you didn't give it a go. Just have a plan in mind if you do go for it. I wish you well.:)

lincroft1710

ditzyat50 wrote: »

The only thing you have got to loose is 3 months web fees

Plus the £500 or so he invested in the accom and travelling costs for the course. I would personally give it at least 6 months.

But is grossing approx £20 ph realistic. It sounds a lot, but travel and vehicle costs probably have to come out of this.

However unless I knew exactly what the job was, I wouldn't know whether to risk it.

Notmyrealname

lincroft1710 wrote: »

Plus the £500 or so he invested in the accom and travelling costs for the course. I would personally give it at least 6 months.

But is grossing approx £20 ph realistic. It sounds a lot, but travel and vehicle costs probably have to come out of this.

However unless I knew exactly what the job was, I wouldn't know whether to risk it.

£20/hr 35hrs a month. And then there's the expenses to come out of it.

So £500-700 a month turnover.

£50 a month to the franchise owner.
£100 a month in van leasing/repayments.
£15 a month in road tax
£50 a month or more in vehicle insurance.

Those are going to be outgoing every month whether you work or not.

And we're already down to £285-£485 - a weeks wage for many people where all they have to do is turn up, do their job and go home with someone else taking all the risk.

And then you've still got mobile phone, fuel, vehicle repairs, materials, advertising, public liability insurance, insurance for damage to customers property depending on what it is you're doing and a ton of other stuff.

In short you'll end up doing it for less than minimum wage.

Notmyrealname

ditzyat50 wrote: »

muddyl wrote: »

.
I then get listed on a website for a monthly fee and wait for work to come in (would do weekends so still have day job).

The problem is these is no guarantee of work. I know one person who has done the same and gets about £500 to £700 a month for it, but he is down south, i'm up north.

/QUOTE]

Yes I would take the risk but with a plan in mind. Basically I would give it 3 months and if after paying 3 months monthly fees if there was no work in that 3 months, then I would cut my losses and be satisfied I had given it a go. The only thing you have got to loose is 3 months web fees

And the cost of a vehicle, insurance, road tax, specialist equipment, tools, signage, advertising etc etc etc.

Dunroamin

Although the extra money would be useful with your wife on maternity leave and a new baby, do you really have the time and energy to work 7 days a week as well as supporting your wife emotionally and bonding with the baby?

muddyl

Once again, thanks for all the input, lots to think about here.

It's all a big help for me. Here's answers to some of the comments that have been posted.

Can I expect £25/hour?
The average "job" takes 3 to 4 hours, at an average of £100 per job. Some take longer, some shorter.

It was mentioned about extra money for tools and advertisement.
I already have most of the tools, the rest have been includeded in the £500 or so start up.
The franchise owner does some national advertising. On own website and on others (seen it on other sites), plus he goes to show's etc. Though I would be responsible for own local advertisement.

I already have a vehicle, with business insurance. Though I may need public liability etc.

With regards to wages, I only get £250/week before tax in my day job, so not much really. So any extra helps.

With regards to my wife and children, only time will tell. Though one of the reasons I am thinking about doing this is that if it proves successful enough, I may be able to drop my hours in my day job, meaning more time at home with the same/higher income.