Why Most Tradesmen Go Broke Hiring Their First Employee | Trade Legends Podcast
About this episode
Ben Bailey discusses the challenges and costs associated with hiring the first employee in a trade business.
On this episode of the Trade Legends Podcast, carpenter Ben Bailey returns four years after his first appearance, and a lot has changed. When we first had Ben on the show, he'd just started out and was working with clients from Made in Chelsea. Since then, he's gone from cutting MDF under a gazebo on his driveway to running his own dedicated workshop, building bespoke carpentry and fitted furniture for celebrities and professional footballers, all sparked by one Instagram DM he thought was his mates winding him up. We dig into the real cost of hiring your first employee, the van insurance, tool insurance, training and overheads that most tradesmen never factor in until it's too late, and why getting your first hire wrong can seriously damage a small trade business. Ben explains why he turns down enough work to hire four people tomorrow, yet still chooses to stay small, and we debate whether "hire slow, fire fast" is the right approach when your lead times stretch past a year. We also break down the hidden costs of taking on your first unit or workshop, the business rates, electric bills and running costs that land after you've signed the lease, and why those unexpected bills kill…
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