Monthly Archives: January 2012

Part Time Valeting Business

Anyone who wishes to earn extra income within the motor trade may like to consider starting  a part time  valeting business. The work can involve either being paid per hour or paid for the job itself. Being self employed you are in a position to decide which one. Either way, your costs and earnings will be fairly easy to work out – how much you can charge per car and how many you are able or wish to valet in a day.
First of all you will need to decide whether you want to work with private cars and owners, or for business`s. If it is business vehicles that you choose to valet then there are many to choose from: Taxi firms, car dealerships, driving schools, delivery vehicles, school buses and hire cars are some of the operators that may wish to work with your company. Or you could choose to work across both sectors, especially if you only have certain times you can operate your part time business.
The next thing to consider is exactly where you will be working from. If you work from home, you need to check with your home insurance whether the policy it is still valid when running a business from the premises.
Mobile valeting is certainly convenient for some customers who would prefer that you drive to them rather than having to locate your premises. For others they would feel more comfortable dropping their vehicle off at a designated forecourt or location.
One way of earning extra cash would be to sell add on products. The products you work with and the materials you use to clean the vehicles could boost your hourly income and profit. If you use a steam cleaner for your business you can diversify and advertise that you clean engine bays etc. Caravan owners are another target group who may consider making use of such a service. They are a difficult item to clean without specialist equipment.
Once you have premises or have decided to become a mobile service, you are in a position obtain insurance for your business. Finding an insurance company who is willing to offer part time cover and understand that it is not your full time job – is your first priority. They can provide cover specifically for motor traders and small businesses. Most households now have more than one car per family, making your part valeting business a viable option to bring in that 2nd income, for a relatively small outlay.

The Courier business

Regardless of how far technology has expanded over the last few years, running a courier business is still a fairly viable option for starting a business.  By registering as a limited company (if desired) and purchasing your own van, you can either choose to deliver documents etc on a contract basis , or start your business from scratch. The courier business relies on people who have great customer skills, are calm & confident drivers, and are willing to operate under the pressure of time keeping.
If you choose to work for another company, you will not have the worry or trouble of chasing all of the leads yourself. They will provide most of the customers and be responsible for all of the advertising and marketing costs. The company will also have to raise the invoices and chase client payments.
One way to work in a self employed capacity is to become a driver for one of the larger courier companies such as DHL. If you are successful in obtaining the work, you will be offered a set route to operate from. Whilst you are busy growing the larger companies business for them, you may be also in a position to pick up and negotiate new leads and work for yourself.
At the present time there are no special licences that you will need to operate as a courier in the UK. You will however be required to have passed and be in possession of a full driving licence. This will allow you to drive a car or van up to 3,500 kg in weight (Gross Vehicle Weight – GVW). To drive a vehicle 3,500 kg or over, you will need an operator`s licence, but most courier jobs do not require these larger capacity vans.
You will of course be required to have suitable insurance cover. First you will need to insure the vehicle itself, just like any other motorist who drives on the highways. Whether you choose third party or fully comprehensive insurance will depend on whether you can afford to replace the vehicle should anything happen to it should you be found to be at fault. Fully comprehensive insurance would enable you purchase a replacement vehicle and return to work should your vehicle be involved in an accident (always check the details with your insurance broker).
Employees insurance will be obligatory if you have anyone working for you, and public liability insurance is advised to protect you from any  claims that may be made against you by the general public. Once you have the experience under your belt  you could be in the enviable  position to employ other people and find your own contacts. Apart from acquiring your own transport, insurance and being communicative/ friendly towards your clients there is not a whole lot of things stopping you starting this type of business. If in doubt there are hundreds of articles on the internet regarding the ins and outs of being a courier.

Renting out your own home

Once you have made the decision to rent out your home, you will need to choose whether to manage the property yourself, or employ a letting agent to collect the rent for you. By working out what your profit margins are likely to be, a realistic decision can be made. Renting out your own home can seem a great deal more personal than solely purchasing an investment property.
As with any new business venture, a business plan is advisable, highlighting all of the expenditure. Some landlords will still need to make mortgage repayments on the home, regardless of whether there is a tenant making regular payments, or if the property remains empty. As the landlord you will be responsible for most of the repairs that are necessary. Certain health and safety requirements will be mandatory and finding out what your legal obligations are, will help you decide who you wish to rent to, and for what sort of fee.
There are benefits to renting out your home- apart from financial ones. If you are unable to live there, or no longer wish to; it is a good idea to have someone else live at the property. You reduce the risk of vandalism and burglary, and the tenant will be responsible for taking good care of the property, paying you rent and also paying the council tax. You will need to decide whether to rent out your home as furnished or unfurnished. If the house is furnished, you will be responsible for the fire regulations and correct safety requirements for the furniture.
If you go ahead and let your property out to a tenant then there are certain laws that will help protect you as a landlord. It is usual to have an `assured shorthold tenancy`. This will ensure that you can re-claim the property after 6mths – should you need to. If you have not received rent from the tenant for at least 8wks, you are entitled to get your home back from them. If the tenant causes a nuisance to neighbours or is disruptive in the neighbourhood, then you will be able to start proceedings to have them legally evicted.
Before you rent out the property, it will be necessary to inform certain authorities. Your mortgage company may not allow you to rent out a house that is mortgaged with them on the same agreement, and your current home insurance will need to be informed. It is most likely that it will be inadequate for renting out your house, and could make the insurance `null and void`.