A huge thank you to everyone who took the time to complete this year’s survey. And congratulations to the 4 winners. They each walked away with a £50 Amazon voucher.
What you shared with us about your business will help Tradesman Saver tailor insurance to meet the demands of your trade.
You spoke. We listened. Here’s what you said.
- Does your business have a website?
- Is your business on…
- Do you keep updated with industry news?
- If answered yes, how do you keep up to date?
- How do you like to consume information?
- Do you read blogs?
- If you answered yes, what kind of blogs do you like to read?
- Do you watch adverts?
- Where do you watch adverts?
- Do you read magazines?
- Do you check you emails daily?
- When do you have time to check your emails?
- What is you primary trade?
- Where in the UK do you do most of your work?
- Excluding materials, how much do you charge per day for labour?
- What is your hourly rate, excluding materials?
- How much profit do you generally make from your average completed job?
- Have you ever had your tools stolen?
- If you answered yes, what tools have you had stolen?
- Where were your tools stolen from?
- When did the theft occur?
- How do you protect your tools / equipment?
- Do you have tool insurance?
- Do you keep a record of the tools you own and their value?
- What challenges do you expect to face over the next year?
- Tradesman Talk
Does your business have a website?
The majority answered ‘no’ to this question, which makes sense if you’re a sole trader. Taking care of a website is a big commitment, and if other marketing channels are working, why bother.
For bigger firms, it makes sense to market your business on a website – and you’ve probably got an extra pair of hands on deck to manage it.
Is your business on…
Social media is a great way to get your name out there and show off your skills. Facebook is still the preferred choice, with Instagram and LinkedIn a close second. TikTok is not as popular, but this platform is expected to dominate 2023. Will you be joining the craze? Most of you don’t use social media at all, which probably frees up time to get other stuff done.
Do you keep updated with industry news?
Good to see most tradespeople keeping up to date with what’s trending in the industry.
Remember, Tradesman Saver publish news articles every month. Head over to the Insights page to find out more.
If answered yes, how do you keep up to date?
Social media came out on top as the best way to get news. Magazines are second choice for those who answered, and Twitter came in last.
How do you like to consume information?
Your second most popular choice to receive information is watching, which is great news. Tradesman Saver have listened to your feedback and are on a mission to produce written blogs and video blogs. You can check out what we’ve done already at Tradesman Insights.
Do you read blogs?
Most of you don’t like to read blogs, but there isn’t much in it. Again, you can expect more video from Tradesman Insights in the coming months.
If you answered yes, what kind of blogs do you like to read?
Product News is out in front, and over the past year we have hosted some amazing kit making waves in the industry. All of the articles we write are featured in Tradesman Saver’s monthly newsletter.
Do you watch adverts?
Where do you watch adverts?
Almost 80% of you told us you watch adverts on TV, with YouTube a respectable second. Would be interesting to know how many click ‘skip ad’ before it ends.
Do you read magazines?
An interesting result here. Magazines were the second preferred choice to keep up to date with news. However, this follow up question reveals only a third of you read magazines.
Do you check you emails daily?
A clear response here. For business owners it’s crucial to keep an eye on the inbox. Clients, invoices, payments, orders and deliveries keeping you busy?
When do you have time to check your emails?
The beauty of not being stuck to a desk means you don’t have time to check emails during core working hours. Tradespeople are typically early risers, with 70% checking their inbox before work begins on site. As well as time in the evening spent doing admin? If you’re still burning oil after 9pm, make sure you give yourself a well-earned rest!
What is you primary trade?
Handyman came out as the primary trades listed. With carpenters, joiners, electricians, plumber and builders a close second. However, most of you chose other. The main trades in this category? Gardener, landscaper, and domestic and commercial cleaner.
Where in the UK do you do most of your work?
Close to 22% of tradespeople who answered do most of their work in the South East, with the South West the second most common location. London is listed 4th, in at under 10%.
Excluding materials, how much do you charge per day for labour?
Healthy results here with the top three highest pay rates steaming ahead. If you’re earning more than £250 a day, what trade are you in?
What is your hourly rate, excluding materials?
41% of you told us you’re earning £20-£30 per hour, with 10% charging more than £50 for your services. It’s wise to review costs now and again, to make sure you’re charging a reasonable rate. We’ve all got to make a living.
How much profit do you generally make from your average completed job?
A clear response here, with almost 60% of you telling us you earn under £500 profit on a job. With 23% earning between £500-£1000. 5% of you earn up to £5,000 – very nice. But it’s the 1%, earning over £50k.
Have you ever had your tools stolen?
A good result here for van owners, who are prime targets for tool theft. 73% of you said you’ve never had your tools stolen – which is positive news. However 27% have, meaning there is close to a 1 in 3 chance you could be next. Remember, taking steps to protect your tools is your first line of defence, with tool insurance as a back up when things take a nasty turn.
If you answered yes, what tools have you had stolen?
Power tools made up 90% of tools stolen, which is a huge number compared to other pieces of equipment. And this makes sense. Power tools are often portable and offer a higher resale value.
Where were your tools stolen from?
Over half of tools stolen were taken from a vehicle, and this is what thieves are looking for. Vehicles are often left unattended, and in areas unfamiliar to the driver. If you’re a van owner, it takes seconds for criminals to gain access. Before you know it, you’ve lost a weeks work because you’ve lost the tools to get the job done.
When did the theft occur?
From the answers gathered, most tool and equipment theft took place on a weekday during night-time hours. Daytime hours during the week came in a very close second, with the risk of tool theft dropping at the weekend. People tend to be at home more during the weekend. Plus those criminals are likely to be out spending the cash they made from stolen goods.
How do you protect your tools / equipment?
Removing tools from your vehicle is clearly your best deterrent, and Tradesman Saver agree. Remember there’s a 1 in 3 chance your tools will be stolen, and vehicles are a prime target for criminals. Marking tools helps when you’re trying to reclaim stolen equipment, but the chances of getting your tools back are very low. The best line of defence is tool insurance, which will replace your tools and get you back on site in no time.
Do you have tool insurance?
A bit of a shock result here. Tradesman Saver have first hand experience helping tradespeople get back on their feet after tool theft. Your tools pay the bills, so it’s not worth risking your income. In our almost 40 year experience, we believe this is the best way to look at it. Calculate how much income you will lose if your tools are stolen and add that to the cost of replacing your tools. If your number is higher than a tool insurance premium – it’s a no brainer. Get insured!
Do you keep a record of the tools you own and their value?
Keeping a record of the tools you own, including purchase receipts and pictures, will help when you need to make a claim. Evidence will speed up the process and get you the support and money you need to get you back on site. Half of you told us you keep a record, which is reassuring. If you don’t, we recommend you do.
What challenges do you expect to face over the next year?
Increased fuel costs and customers spending less is your biggest concern over the next year. And we hear you. Fortunately, fuel prices have fallen, but are still above what we should be paying. And if you’re smart about finding work, target properties with low EPC ratings. Mortgage rate increases are forcing many people to sell their home. Owners will have a higher chance of doing this, if they’re as energy efficient as possible.
Tradesman Talk
Have any of these answers surprised you? Was there a question you wished we’d asked you?
As always, leave your thoughts in the comments. And click the social links to share the results with your network.
Until next time, make sure it’s Tradesman Saver.
