Advice Required for Opening Sole-Trader Handy Man Business

thejazman on 01/09/2021 - 19:54
Last edited 07/12/2021 - 18:23 by 1 other user

Hi members of OzBargain, firstly, I'd like to thank you all for taking the time in reading this post and for your advice.

Over the 2020 Melbourne lockdown and current lockdown, I have found joy in doing repair work on my home. This included painting, installing floorboards, replacing skirt boards, replacing doors and other miscellaneous tasks. I also conducted work for family members who were too busy or struggling with the current circumstances.

As a result, I am wanting to now open up a 'handy man' business to do trades such as plastering, painting, flooring, tiling, and other small jobs. I am specifically wanting to limit it to these tasks as I am not registered or licensed in any trade. Funnily enough, I work as a nurse, and this would be simply to fill in time or pick up extra work outside of my day job.
I have gathered that I do not require to be registered with the VBA if I'm not completing work above $10,000, and if Im not completing work in the 'licensed trades'.

What I do have confusion over, is whether I need to be registered with the VBA if I am doing two or more of the listed unlicensed trades, such as plastering and painting. I have read that I DO NOT need to be if my work is under $10k, but have also read in other places that I DO need to be registered.

I am here to obtain some advice from others who are aware of this or who are in a similar position. Furthermore, I will be creating an ABN and a business name in the coming days. I believe this will be all I need (and insurance of course) to start my business. Am I correct?

Thank you all again for taking the time to read through! I look forward to reading your replies :)

Education & Work

Comments

  • offerd on 01/09/2021 - 19:58
    +2

    Not advice, just tips:

    1) Use accounting software from the get go, it'll be far easier
    2) Consider GST - use your GST limits

    https://www.ato.gov.au/business/gst/

    • thejazman on 01/09/2021 - 20:14

      Thank you. Notes taken.

      • POSITIVEVIBESONLY on 03/09/2021 - 11:18
        +1

        xero is cloud accounting software that's taking over the market atm fyi

  • MS Paint on 01/09/2021 - 20:03

    Insurance can be expensive

    • popsiee on 01/09/2021 - 20:12
      +2

      Maybe he is smart and won't waste money on it .

    • thejazman on 01/09/2021 - 20:13

      Eek, maybe I need to look into it before committing.

      • offerd on 01/09/2021 - 20:31
        +1

        A lot of people won't hire you without insurance. I run my own company, and have to pay an insane amount on insurance each year. It protects you and your customers.

  • Baysew on 01/09/2021 - 20:11

    When is registration required?

    You must be registered with the VBA in Victoria to:

    perform domestic building work where the cost (including labour and materials) exceeds $10,000
    carry out re-blocking, re-stumping, demolishing, removing a home, or any building work that requires a permit, regardless of the cost of the project
    provide more than one type of building work, such as plastering and painting, where the cost (including labour and materials) exceeds $10,000.

  • holdenmg on 01/09/2021 - 20:55

    Registrations your business needs

    When you're starting a new business, it's important to know what registrations your business needs to comply with the law.
    Learn what registrations, licences and permits your business needs and how to apply.

    https://business.gov.au/registrations/registrations-your-bus…

    • thejazman on 02/09/2021 - 22:56
      +1

      Thanks mate! This is very helpful.

  • netjock on 01/09/2021 - 20:56

    It is the little niggly jobs under $10k that will make you the most money. Everyone wants the easy big dollar jobs. Take the small jobs that keeps on giving because the owners want more and more done.

    • thejazman on 02/09/2021 - 22:55

      Yeah absolutely. Love this idea. Thanks for the tip!

  • GC1 on 02/09/2021 - 05:23

    When you get your ABN and Business name, open a Bank Account in the same name.

    Makes it easy to receive payments and keep your accounts straight.

    • thejazman on 02/09/2021 - 22:55

      Great tip. Thanks for the idea. Makes it easier when its all uniform and flows nicer.

  • EightImmortals on 02/09/2021 - 07:07
    +1

    Use cash.

  • holdenmg on 02/09/2021 - 08:13

    Have you got a Business Plan?

    • thejazman on 02/09/2021 - 22:54

      Yeah just a rough plan. Brainstormed on the iPad. Nothing too formal but enough to get me going.

  • nephilim on 02/09/2021 - 22:56

    Have you looked at HiPages and similar sites?
    First step would be registering on them

    • thejazman on 02/09/2021 - 22:57

      Yeah great, ill get onto it. Been setting up social media pages to get started. Will get onto this next.

  • dealmaker on 03/09/2021 - 21:08

    Just a well wisher.
    All the best in your venture

  • Euphemistic on 04/09/2021 - 06:17

    Make sure you value your time properly when pricing. Include travel, time for purchasing materials etc.

    I thought about similar, but at this point in my life the extra money isn’t essential so only do low value cash work for a few specific clients. I have other work that takes up most of my week and kids, housework and recreation that take up the rest.

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