Rachel89
Rachel
Me and my friend are thinking about starting a business from home. We're both qualified in level 2 beauty and she also is a qualified nail tech. We would like some advice how you started and where to begin. Thanks in advance [emoji8]
Starting a new business with a friend
- Thread starter Rachel89
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KrisKross
Well-Known Member
My advice is, go it alone.
What are the advantages of starting a business with your friend if it's from home? Who's home? What if one of you is incredibly busier than the other - how will profits be split?
If you do go in together, get a shareholders agreement drawn up by a solicitor.
What are the advantages of starting a business with your friend if it's from home? Who's home? What if one of you is incredibly busier than the other - how will profits be split?
If you do go in together, get a shareholders agreement drawn up by a solicitor.
Cindy2021
Well-Known Member
I don't have experience of this situation however I know a friend of mine would like to work with me.
As much as we are friends I don't think she is professional enough and it would be an issue.
It could also be the end of a good friendship
As much as we are friends I don't think she is professional enough and it would be an issue.
It could also be the end of a good friendship
salonfrog
Accountant for salon owners
Personally I'd keep friendship and business separate. Friends are gold and its not worth stressing the friendship. IMHO.
Rachel89
Rachel
You both are as driven as each other. We are splitting the profits equally. We not here to be rich just aslong as we get some penny's between us we're going halfs on everything aswell. She's a good friend and we have been thinking about this for a while ourself. I just didn't know how do we go about starting it up x
Jojjo_hair_nails
Well-Known Member
Myself and one of my closest friends are just about to open the doors to a business together...the only thing is I'm a hairdresser and so is she but I now do beauty....so she will do all the hair(bar my current clients and hair extensions as this is one of my best trades) but this is why it will work she does hair I do beauty...i don't see how both doing beauty will work? Who takes what clients? How is wages split?
squidgernetball
Ubergeek
To start you just start. Make sure you have relevant insurances and tell HMRC and that's about it. Start advertising and you're up and running.
However, would agree with all that's been said. I would personally go it alone.
Good luck
Vic x
However, would agree with all that's been said. I would personally go it alone.
Good luck
Vic x
FlawlessBeauty
Well-Known Member
Whose home are you working from? You might need permission and/or a treatment license from your council.
You will need to tell your home insurance company too and may need to change companies.
Hmrc need to be informed that you are starting a business.
I would make sure you have a contract in place for your peace of mind, so you agree on how profits are split, how you pay for stock, holidays, if one of you is ill on your day and what happens if one of you doesn't want to do it any more. Especially for the person who doesn't own the house x
You will need to tell your home insurance company too and may need to change companies.
Hmrc need to be informed that you are starting a business.
I would make sure you have a contract in place for your peace of mind, so you agree on how profits are split, how you pay for stock, holidays, if one of you is ill on your day and what happens if one of you doesn't want to do it any more. Especially for the person who doesn't own the house x
