Thinking of going full time and looking for advice!

[RikkiDee]

Hi guys.
I have been reading the 'business plans' thread with interest and thought instead of hijacking that post, I would start a new thread.
Here's my story. I have worked for a company for almost 10 years. In 2 months my department is closing. I have been offered employment in the same company in a different department. Currently I work day shifts and have done for most of my employment here. Every other department works shifts. This means that if I stay here, then I will put onto a rotating shift pattern which will include lates.. This really doesn't appeal to me so I have 2 choices.
I can take voluntary redundancy in 2 months and become a full time DJ or I can drastically reduce my hours to part time.
It is a big step for me and I honestly think the pros outweigh the cons, with regards to going full time.
I will have enough money to live off for about 6 months if I fail and therefore would look for a new day job.

I am looking for some advice, tips, some pros and cons, some success stories and some stories where this has not worked out for people.
How do you survive through the quiet times?

Thanks in advance..
Richard

[rth_discos]

Hi Richard

What is your background in DJ'ing?

Is this something you've been doing part time, or do you see this as a brand new career?

It's one thing if you've been part time for 5 years, currently doing a gig a week, compared to starting from scratch.

Do you currently have all of the equipment you need?

Understanding more about your current position as a DJ will help us to advise you better on the steps you would need to take.

Gavin

[RikkiDee]

Hi Gavin,
Sorry I should of put a lot more information in the OP.
I have been part time since 2001.
I have all the equipment that I need, even though new shiny toys would be nice, if they are not going to earn me anything in return then I'll probably not look for new equipment just yet.
Most of my work is weddings. My website is www.swanseaweddingdj.com, please feel free to have a look and feedback.
I can cater for all occasions though from corporate work to children's parties.
I get my busy spells, this weekend I had 5 gigs. Engagement party Friday night, a children's party Saturday morning and a birthday party Saturday evening. A christening for 3 hours Sunday day and a wedding on Sunday night. This coming weekend, I have no gigs.
So its up and down. I did 101 evening gigs last year, mostly weddings.
Thanks
Richard

[funkymook]

I’d say if last years takings from 101 bookings aren’t enough to to cover your bills and give you quality of life then you need to look at what you’re doing before making that leap.

[musicology]

I now work part time and, with the disco work, find I can get by ok. My partner works full time so between us it works out pretty good. Depends on what your living expenses are each month and what you've got coming in.

[DeckstarDeluxe]

Against all common sense I went full time on a whim (two weeks from thinking to doing). I struggled for the first couple of years, cut everything back worked my ass off and luckily have a cheap rented flat so my outgoings were very low.

If you have kids, family etc.. forget about it. If you have the desire to work more hours for less pay (for a long time) then go for it. If you're happy to give up security and paid holiday then go for it.

Making a living off DJing alone is going to be very tough. You need to either go for volume or quality.

[scott23]

There is help available with regards to paying your rent and tax credits if you go full time. Just remember that your working more than a 30 hour week, even if not physically! Always taking calls quotes etc is still classed as working therefore if your profits are say less than 15 grand, then your entitled to a tax credit. This is quite help full when just starting out.

I would suggest not only doing disco`s but to look into other event work. I have been self employed for around 6 years and most of my income has came from stage work, either building stages for big concerts or working freelance with other A.V company's.

good luck

[RikkiDee]

I’d say if last years takings from 101 bookings aren’t enough to to cover your bills and give you quality of life then you need to look at what you’re doing before making that leap.

My first reply is still not showing as it has to be checked by admin before it is posted.

My 101 bookings last year were enough to cover my bills and I had a very comfortable life. I had a family, partner, 3 children.

I split with my partner last October and moved out. I currently have my children no fewer than 4 nights a week now and this is another reason that I want to cut my day time hours. At the moment, I feel like I'm burning the candle at both ends and am now looking for more of a balance.

Thank you all for your comments so far.

[DazzyD]

There is help available with regards to paying your rent and tax credits if you go full time. Just remember that your working more than a 30 hour week, even if not physically! Always taking calls quotes etc is still classed as working therefore if your profits are say less than 15 grand, then your entitled to a tax credit. This is quite help full when just starting out.
...
good luck

My day job is as a Benefits Assessor so I deal with Housing Benefit claims 5 days a week. There is help for people who's income is low. However, if you say you are working 30+ hours a week, but your income doesn't reflect that, your claim may be looked in to further. This is a little loophole which, according to a news report I read last week, is soon to be closed. Self employed people who are claiming Housing Benefit but their income is less than the National Minimum Wage may be told to claim JobSeeker's Allowance and look for another job. It makes sense, really. When they upped the hours for Working Tax Credit from 16 to 24 a few years ago, we had people telling HMRC they were suddenly working the 24 hours but for the same money, HMRC just accepted that and paid them the Tax Credits. It was clear from the info that Housing Benefits received that they weren't working any extra at all but there was nothing we could do about it. HMRC don't listen to us! But it looks like this practise is going to be clamped down on. It will hit those who are genuinely struggling to make the income with self-employment but it but also claim down on those who don't do any work but declare they are self employed and live of New Enterprise Allowance, Tax Credits and then have their rent and Council Tax paid for them.

My first reply is still not showing as it has to be checked by admin before it is posted.

...

Sorted!

Actually, sorry! It looks like your post wasn't spotted as needing moderating. Us moderators can see your post in the discussion thread but, for some reason, the icon indicating it needs approving doesn't really stand out very well and it can be missed. Apologies!

[rth_discos]

I get my busy spells, this weekend I had 5 gigs. Engagement party Friday night, a children's party Saturday morning and a birthday party Saturday evening. A christening for 3 hours Sunday day and a wedding on Sunday night. This coming weekend, I have no gigs.
So its up and down. I did 101 evening gigs last year, mostly weddings.

Thanks Richard - I've only just been able to see this - I did wonder how others knew about the 101 gigs!!

How do you currently market your services?