Starting an asbestos surveying company

[airtrixx]

I work for a demolition company in sales and H&S, so I have many contacts within the industry that would be to my advantage.

I am used to winning contracts from sales leads and then visiting sites and writing reports from a H&S point of view to get the jobs started.

During my work I have seen asbestos surveys conducted and read the reports afterwards, all of which is within my capabilities.

I feel that with my contacts I could initially get work to fit around my present job, which means I would have time to build the buisness while still getting a regular wage.

I am on the verge of registering for a surveyors course and then hopefully putting what I learn, (along with the appropriate qualifications) in to practice.

I can not think of a reason why I should not set up as a sole trader but would welcome any comments on what I should consider, both directly within this industry and also in stting up a buisness in general.

[simpo two]

I don't know that industry, but I'd say that if you can do the same job as the competition for less money, and you have the skill to market and sell yourself, it's worth considering seriously.

Try being pessimistic - what's the worst that can happen? Can you survive it? What are your strengths, opportunities, weaknesses and threats? If you can define and answer all to your rational satisfation - eventually you get to the point of... well, starting Keep start-up capital and overheads to a minimum - eg work from home if possible - just in case that sales forecast goes pear-shaped...

[Davel]

Good luck to you!

I think that you must make sure that you have professional indemnity insurance to cover your back, just in case anything is ever missed.

Asbestos, and now it seems mould too, are areas of great concern and where these guys can make quite a bit of money.

Maybe link up with a specialist asbestos remover too and see if you can get commission from them for any referals.

[wolf1]

Dealing with hazardous substances such as Asbestos I wouldn't be so sure about going the sole trader route, Limited would be better for you own ends would it not.

[insurance_jon]

if you want quotes for the liabilities and PI (proffessional indemnity) give me a shout on 01924 895568, naturally I try to keep things as cheap as poss for PHers

[srebbe64]

Go for it mate. I recently sold a company in your sector to well-known demolition company near Leeds - you've probably heard of them. The point being, I learned that it's a superb (legislation driven) sector to be in. Most companies are making a lot of money - and there's loads of business out there for many years to come, and it's under-supplied.

[airtrixx]

Thanks for all the advice and encouragement. I have provisionally booked a place on a surveyors course and am trying to obtain quotes for public liability and proffesional idemnity.

As said earlier, nothing seems to scare insurance companies more than the word asbestos.

I am in the process of sending back the forms now, although there are a lot of blanks as most of the questions are only relavent if you have been trading already.

Insurance John, I would be glad to take you up on your offer and see if insurance could be arranged. I feel that this is the major hurdle that I will have to overcome in setting up my buisness.

I thought about going the sole trader route to start with because it would keep it simple and I do not need to borrow any money. I have been told there is no great advantage in being ltd to start with if you do not need to borrow money, is this correct ?
On the other hand I own my house out right, so have a lot to lose if I did not cover myself properly.

As it stands now I just need to get some insurance quotes to see if I could afford to make the start on the small scale that I would like to initially.

[Eric Mc]

Being a Ltd Co makes no odds usually from a borrowing point of view. Banks usually want to make directors sign personal guarantees anyway - so your personal assets are still exposed (metaphorically speaking). The limited liability aspect is more to do with exposure to lawsuits etc - and even then directors can sometimes be held personally responsible.

[simpo two]

airtrixx said:

On the other hand I own my house out right, so have a lot to lose if I did not cover myself properly.

The usual trick, if married, is to put it in your wife's name.
You seem to have the right approach - shall I say a good mix of buoyancy and caution. Keep it up

[srebbe64]

airtrixx said:

As said earlier, nothing seems to scare insurance companies more than the word asbestos.

That's true - and that's why it's a really good sector to be in. Everyone's scared stiff of it, therefore it's legislation driven, not price sensitive and the sector is under-supplied. Don't let things like insurance frighten you off - that would be the tail wagging the dog.