Hello
Over the last few weeks ive been given some thought to my future, Came up with one plan which im starting to think could be done. I understand this plan will mean not many will know much about what Im doing since im aiming at the Passenger Transportation but it should have its similarities and Im just looking for some guidance in some places.
I am planning on purchasing my own Volvo B10M coach second hand, hopefully aged around 1995. Im hoping to aim at the Private Hire sector as well as Tour operators, but this work is seasonal with Summer and Christmas being the busy periods. Ive came up with an idea for applying for the latest tenders for SPT School Contracts for the 2006/07 period. This im hoping to work out to pay for the vehicle itself so I would then be using Private Hires as profit.
I have my self set out some tasks, Im currently sitting my CPC at the moment which will let me have my own Operating License.
My questions I have with this plan is mostly with the difference between running as a sole trader or registering the company as a Limited Company. I know the later will protect me to some extent if the company didnt work out. I will be using my own home as the Head Office and will have the vehicle stored at another operators premises and im not sure if this would cause problems with the Limited Company.
Also im looking for information on Insurance companies for comercial vehicles. Anyone able to recommend anyone, or infact a few as I will require details on insurance costs before I even think about starting up.
And another question… would you recommend seeing an accountant before going through this to ask for advice and help on starting up?
Thanks
Danny
