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Old 4th May 2021, 12:23 am   #45
Techman
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Join Date: Nov 2009
Location: Lincolnshire, UK.
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Default Re: How much should one invest in tools to get in the hobby/occasional business?

Quote:
Originally Posted by ottavio View Post
an occasional part-time business (such as buying dead radios, repair and sell)?
I've not read through all the posts in this thread that thoroughly, so it may already have been mentioned, but you need to be a bit careful if doing repairs for, and selling to, the public. As a one time business owner I know all the pitfalls and I can tell you that you'll need public liability insurance and also insurance for goods not belonging to you that are in your care. Also you'll need goods vehicle insurance for your car if you're transporting goods for hire or reward. Then there's all the income tax liabilities. I ran a small business for a few years back in the late 70s early 80s and had all that in place including a business name registered at companies house. It only needs one mistake on your part that causes an 'incident' or an unhappy customer and you're ruined. Luckily I never had any real problems, but it's always a risk - and an even bigger risk if you're not qualified with recognised certification.

On the other hand, many on here do repairs as favours, only charging mainly for parts and just take the risk that nothing goes wrong, and it's a very low risk, but one that's worth being aware of. Also remembering that you can never modify a vintage electrical item to be compliant with modern regulations and safety standards.
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