Advice about going self employed

[Mootiful]

I'm thinking of going self employed, in my work I'm the only one who is employed, I've been there for nearly two months. I currently get £8 an hour.

My boss has said the rent is £40 per day, is this normal or a bit high?

She said the other Therapist started out with nothing and is happy to do a package for me too so I can get set up. They have a cleaner in a few days a week and I believe they also pay additionally for that too.

I was speaking to the other girl and she said they don't have a contract and don't get an invoice either until the end of financial year.

I'm trying to weigh up what I'm best to do, I have a 1 year old and a mortgage so I want to make sure I won't be worse off. I'm already having repeat clients but I'm mainly doing offer from groupon etc, which I've worked out my boss is hardly making any money on, I've been a spa manager before so I do have some business experience.

I would appreciate any advice, thanks!

 

[Stephen Jaymes]

Kudos to you for wanting to do your own thing! I don't think it's a question of "if" you should do it but "when" you should do it. I didn't make the move to self employed until I was consistantly profitable and had at least 6 months expenses in the bank.

Why not allow yourself to go through each season for at least 12 months so you can see a pattern in business. In the meantime, start making your business plan/strategy so your transition is as smooth as possible.

What the most successful person in your shop. Learn and model what makes their business do so well. Use the 12 or so months to educate yourself on how to do it right. This way, if you find 12 months isn't enough, you can stretch it out a bit. Either way, you will be prepared to do it right.

Good luck, you'll be great!