How long did it take for you to turn a profit? For context I’ve recently started out, doing around 5/10 customers a week (I’m doing this weekend only a to start off with alongside another job I’m doing- will do more days once size of customer base requires it). Obviously I’ve spent money on a van and equipment and looking to build up my customer base as quickly as possible to turn a profit. Interested to hear other peoples experience of this.
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Loss to profit
- Thread starter JT88
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By profit I mean once you’d earnt more than you forked out to buy equipment/ advertising etc. appreciate it will be different for everyone but interested to know how long it took, especially if, like me, this isn’t something you’re doing full time to start off with. Was it months, years? Starting a business is always daunting and you need to spend a bit of money to make money. Where there any times you felt you’d made the wrong decision or bit off more than you could chew? Appreciate its an open question but just looking for some experiences that’s all.
ched999uk
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That's too difficult of a question to answer. How much are you wanting to reinvest in your business? How much did your set up cost? I could go on and on.
Everyones circumstances are different. I started my business in an August. By the following April I had made a hefty loss because of equipment and vehicle purchases etc. The following financial year I made a profit of less than 10k. I could have stopped where I was and took 25k out of the business that year if I wanted to. I took what I needed and reinvested what I didn't. I lived on savings and kept my expenses low for the first few years. Not everyone is in a position to do what I did. Some need to turn a profit super quick. My reinvestment means that 6 years on I have a vat registered ltd company with two (soon to be three) vehicles and three employees. Similarly not everyone wants what I've done... Some days I wonder if I do
Everyones circumstances are different. I started my business in an August. By the following April I had made a hefty loss because of equipment and vehicle purchases etc. The following financial year I made a profit of less than 10k. I could have stopped where I was and took 25k out of the business that year if I wanted to. I took what I needed and reinvested what I didn't. I lived on savings and kept my expenses low for the first few years. Not everyone is in a position to do what I did. Some need to turn a profit super quick. My reinvestment means that 6 years on I have a vat registered ltd company with two (soon to be three) vehicles and three employees. Similarly not everyone wants what I've done... Some days I wonder if I do
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