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Big sul

Starting up a second business!

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Big sul

Right folks I have had an idea bouncing around in my head about starting a second business.

It's a service based business idea so will still need to generate customers.

Hoping to be able to use some existing customers then canvas and advertising campaigns for new customers .

Going to run it along side my current business then hopefully take some one on to carry on doing either business.

So should I run it as an umbrella type business like an add on to my garden services business.

With a new phone number & website.

 

Does any one else run multiple business?

If so how do you find it and any advice?

 

I can't divulge too much Information on it at the moment as I don't want my idea stolen before I push it.

Any advice would be most appreciated. [emoji4] [emoji106]

 

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Clisty1989
2 hours ago, Big sul said:

 

Right folks I have had an idea bouncing around in my head about starting a second business.

It's a service based business idea so will still need to generate customers.

Hoping to be able to use some existing customers then canvas and advertising campaigns for new customers .

Going to run it along side my current business then hopefully take some one on to carry on doing either business.

So should I run it as an umbrella type business like an add on to my garden services business.

With a new phone number & website.

 

Does any one else run multiple business?

If so how do you find it and any advice?

 

I can't divulge too much Information on it at the moment as I don't want my idea stolen before I push it.

Any advice would be most appreciated. emoji4.png emoji106.png

 

Sent using the http://Window Cleaning Forums mobile app

 

 

 

I think (no expertise in this so don't take it as gospel) you may be better off going ltd if your not already, then run each under a different name (i.e big sul ltd trading as big sul window cleaning, big suls gardening, big suls erotic novels or whatever it is) 3 separate branches of 1 business. A lot of call centres do it, one I worked in had ppi, debt management, solar panels etc, each different name, all same company. Best person to speak to would be your accountant.

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Big sul
I think (no expertise in this so don't take it as gospel) you may be better off going ltd if your not already, then run each under a different name (i.e big sul ltd trading as big sul window cleaning, big suls gardening, big suls erotic novels or whatever it is) 3 separate branches of 1 business. A lot of call centres do it, one I worked in had ppi, debt management, solar panels etc, each different name, all same company. Best person to speak to would be your accountant.
Erotic novels !
Now that's another idea !!🤣🤣
Cheers

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Nudel

I run a small 3D printing business alongside my window cleaning,  but the expenses are higher than the income so it's not worth it to register another business, thus I run them on the same company. Where I live you can have a main and a secondary business type under the same company, so it's perfectly legal.

 

My legal company name works well as an umbrella name anyway (just Lastname Services)  and I front and advertise both businesses with their separate web addresses.

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Teaboy

Depends if they are associated businesses


All my cleaning revenue stream businesses are held within one ltd then I have one for investments and have just set another up for acquisitions


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Neilmnwc

Right folks I have had an idea bouncing around in my head about starting a second business.
It's a service based business idea so will still need to generate customers.
Hoping to be able to use some existing customers then canvas and advertising campaigns for new customers .
Going to run it along side my current business then hopefully take some one on to carry on doing either business.
So should I run it as an umbrella type business like an add on to my garden services business.
With a new phone number & website.
 
Does any one else run multiple business?
If so how do you find it and any advice?
 
I can't divulge too much Information on it at the moment as I don't want my idea stolen before I push it.
Any advice would be most appreciated. [emoji4] [emoji106]
 
Sent using the http://Window Cleaning Forums mobile app
 
 


Hi Big sul,

I’ve been running a photography business for the past 6 years (commercial/weddings).

The pro’s:

The obvious extra income.

Variety

Challenge

Con’s:

Managing time for them both.

Running two very separate businesses is a bit like a split personality at times.

Two lots of PLI and equipment insurance.

Managing two sites, social platforms etc...

Two lots of books.

It’s good to have other revenue sources, but time is the critical point.

Expenses are way higher for the second business, so it doesn’t send taxable earnings through the roof.

Hope that’s helpful, I can imagine it being heaps simpler with a related business. Good luck.




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