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...to ask how much you take home if you run your own business?

(27 Posts)
stumblymonkey Thu 12-Jan-17 21:06:45

This is really coming from two separate places...

Firstly I've always wanted to run my own business and have plenty of ideas but I don't think they would pay anywhere near as much as I currently earn but I wonder if I'm wrong.

I also wonder about businesses I see around town that seem to have very few customers but are able to support rent of a town centre location (like 'vaping' shops, etc).

I'm also just really nosey.

So...if you (or your DP/DH/DW) run your own business, what do you do and how much do you take home roughly?

JustGettingStarted Thu 12-Jan-17 21:09:35

You're asking how long is a piece of string.

stumblymonkey Thu 12-Jan-17 21:14:40

I'm just nosey and interested....it's no different to asking people's salaries?

I can go first as I currently have a very boring business...I am a self employed project manager/consultant and I turnover about £130k, pretty much all profit as my only costs are commuting.

topcat2014 Thu 12-Jan-17 22:02:41

Depends what you are planning to do. Even the most inauspicious shop on a side street will probably cost £1000 per month to run.

Can't see the vaping shops staying around for years.

Self employed accountants can earn around £100k after a few years, for example. Other time based jobs, like driving instructor, probably end up earning national average wage.

joystir59 Thu 12-Jan-17 22:17:21

I am a self employed mosaic artist, teaching mosaic making skills to young people and adults and also making commissions for private and public space. I love my work, and I love the freedom and independence of being self employed. We have my elderly MIL living with us who needs some care, and also my partner works a shift pattern. when I worked nine to five Mon to Fri we never saw each other and struggled to care for MIL. I hated being beholden to a boss when I often had better skills and ideas (I worked in a community art studio). Being self employed is much more intense, much less secure or predictable but I like having an edge to life.
In my first year of employment I made a loss covered from my savings, but now, in my second year, I am living from my earnings. It is very satisfying. I work very very hard. Even when I am not technically at work, I am working mentally on ideas. I put in a lot of hours I do not charge for, developing projects or working on mosaics just because I love what I do. Self employment is not an easy option, but I do love it.

fishandlilacs Thu 12-Jan-17 22:18:43

Not all businesses depend on a premises. I run a business providing by drama classes and after school clubs..My one class had to be cancelled because of low numbers my other class is now after a year this week become full with a small waiting list. As part of that business I also have a regular freelance contract teaching at the local theatre. I probably work 10 hours a week on admin and 10 Hours actual teaching. I made about 5k last year

dontsufferfools Thu 12-Jan-17 22:19:59

My DH runs his own business. It fluctuates but about 2k a week.

dontsufferfools Thu 12-Jan-17 22:20:43

Property Maintenance is his business by the way!

refusetobeasheep Thu 12-Jan-17 22:25:34

Tend to take just under £150k a year from the business.

lapsedorienteerer Thu 12-Jan-17 22:25:42

If you are self employed and turnover £130K, mostly profit, you are already 'running your own business'......why change confused

joystir59 Thu 12-Jan-17 22:25:43

I make around £10k a year.

VeryBitchyRestingFace Thu 12-Jan-17 22:25:45

I'm self employed but no business premises.

I wouldn't be running out on a £130k pa job in a hurry!

stumblymonkey Fri 13-Jan-17 09:31:46

I'd like to change to something else because I hate my current job and it makes me miserable which is not very good for my bipolar disorder.

To be honest though the fact that I earn so much in my current business keeps me 'trapped' as obviously its impossible not easy to find anything that has a similar earning potential. I have lots of ways of making a few hundred pounds a month but clearly that's not something I can quit my current job for!

BrownAjah Fri 13-Jan-17 09:37:20

Any chance of selling the business? DH was taking home about £60-70k before he sold his business. Now he earns a bit less but much less stress and the sale money has given us some security

BrownAjah Fri 13-Jan-17 09:38:10

Apologies, misread your post!

stumblymonkey Fri 13-Jan-17 10:17:30

Sadly I am my business so I can't sad

Ihatethedailymail1 Fri 13-Jan-17 10:29:30

How do you get work op? Just wondering smile

LunaLoveg00d Fri 13-Jan-17 10:44:14

You really are asking how long a piece of string is!

Richard Branson runs his own business. Would imagine he's not short of a bob or two.

Sally who promotes herself as an "independent business owner" but in effect has signed up to a multi-level marketing scheme is lucky to clear 50p.

With lots of other levels in between. You have to be more specific - asking "what's the average turnover for an independent bakery" or "what does a self-employed graphic designer earn" is a sensible question, asking such a vague question really isn't.

FairyHoneydragonTwinkleScrotum Fri 13-Jan-17 12:56:25

It depends on time scales, ambition, time and skills. We have our own businesses, we employ around a hundred staff. I'm not entirely sure that's what you're considering though?

FairyHoneydragonTwinkleScrotum Fri 13-Jan-17 12:59:02

I don't like the word staff, I really hate it actually. We employ a hundred people.

vj32 Fri 13-Jan-17 13:15:41

If you are that well paid presumably you are quite in demand - can you not just cut your weekly hours or take breaks between contracts if you need to?

EggnoggAndMulledWine Fri 13-Jan-17 13:19:43

What do you do now? Any skills that could be transferred to something similar? Why do you hate your current job? Would cutting your hours and therefore income a bit help you enjoy it more?

stumblymonkey Fri 13-Jan-17 13:24:31

It's quite easy to get work in my area....you can either:

(a) Get it through existing contacts
(b) Get it through recruitment agents that specialise in contract work

I suppose I'm mainly interested in retail. My absolute dream would be to open one of those shops that sells gifts, decorative bits, etc.

<sighs and daydreams>

stumblymonkey Fri 13-Jan-17 13:26:56

I'm a project manager/business consultant in financial services industry.

So very organised, can do business cases, good at getting shit done, decent understanding of 'business'.

Things I don't like: long hours and four hour return commute, feels very meaningless, am not interested in the topic/outcome.

Foggymist Fri 13-Jan-17 13:32:06

I am self employed in a creative business. I work pretty much part time, from home, quite low costs and no commuting costs etc. I earn about €13k a year, woooo big earner :D But I like the creative side of it, even though it can sometimes be very stressful my outgoings are so low due to no commute or costs like parking, work clothes, lunches etc and that we need minimal childcare that I earn relatively well from it. I've been doing this six years and have saved and lived relatively well so far. Obviously I'd prefer to earn more but I don't want a real job (I'm rarely good at them) so I'll take the good with the bad.

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