So you've completed your trades training course and are now out in the world as a self-employed tradesperson. You've got your vehicle, all your tools and are ready for long and prosperous career ahead of you. You might feel relaxed, but even then there's is still the need to be vigilant about certain things.

Statistics from Commercial Vehicle Direct Insurance Services have revealed that tradespeople have lost over £75 million due to tool thefts from their vehicles since 2008. Tradespeople are a popular target for thieves, with the average value of their tool box being over £1900 according to claims made between the 1st May 2011 and 30th November 2013.

The survey found the areas hit by the most costly thefts in the last five years are:

• London Metropolitan - £30.6 million
• Yorkshire - £10 million
• Essex - £5.3 million
• West Midlands - £4.2 million
• Great Manchester - £2.9 million

Meanwhile certain places have also seen a significant rise in vehicle-related crime. Essex had it worse at a 68% rise, followed closely by Avon & Somerset (57%) and Greater Manchester (45%). At the bottom of the table was Suffolk (22%) and London Metropolitan, which only saw a 12% increase. The figures were obtained through a freedom of information request to UK police forces.

CVDIS director Andrew Jackson commented: "A tradesperson's toolkit is their livelihood and being without it for any period of time can be crippling. Of course, tradespeople must take precautions themselves, as leaving hundreds or sometimes thousands of pounds worth of tools in their vehicles can make them a target for thieves. But other actions are also needed."

So just remember to lock your vehicles up at night and whenever you're not around. While its not our intention to scaremonger, you never know when thieves are about! Not only that, but making sure you have the right insurance that covers everything could be the thing that saves your business should the worst happens. Even if you never use it, the security of having it there is not worth passing up.

So you've got your qualifications and are ready to start your new life as a self-employed tradesperson. Being your own boss can mean great things like having full control over what jobs you do, what hours you work and when you can take your holidays - but there are some things you'll need to put some serious consideration toward. It's time for you to consider just how much you plan to charge for your services.

Many people will work it out from a simple calculation of hourly rate multiplied by 35 hour week multiplied by 52. However how do you come up with a reasonable hourly rate in the first place? Installer Online have come up with a list of 10 things you'll need to factor in to come up with the best price tag:

1. Invoicing: Ask any self-employed person and they'll tell you this is a far more important part of the job than you might realise. Time spent invoicing or chasing up cash is definitely something to consider.
2. Marketing: Word of mouth is only going to get you so far, you're going to need to come up with some sort of marketing plan. How extravagant you choose to be is entirely up to you, but either way it's going to cost money.
3. Your skillset: So you've got the qualifications, but is that it? Will these need updating every so often? You might be alright as not many qualifications need regular top ups, but be sure to research this when starting up the business.
4. Accounting & Tax: When you become self-employed you become responsible for paying your own tax. If book-keeping isn't your strong suit, have you thought about employing an accountant? This can prove quite costly, but there are also accounting services available which are tailored specifically to the contractor, freelancer and sole trader. They have low costs and simple online interfaces to allow you to process your own accounts. Many of these are available from a low monthly fee and not only save you time and money they can also relieve you of the stress of scribbling around to do your accounts at the last minute.
5. Holidays: The downside of having the freedom to choose your own holidays is that you're no longer paid for that time. Including bank holidays most full time employees get around 6 weeks paid leave per year. This is the equivalent to a 12% increase in your hourly or daily rate.
6. Insurance: Every business needs insurance. Not just that, but there's many different types you may need - public liability, business car insurance, contents insurances etc. Make sure you know exactly what you need and scout around for the best prices.
7. Your toolkit: Again, these are going to cost money and inevitably need replacing somewhere down the line.
8. Travel: Petrol costs are another thing you're going to have to keep in mind.
9. Quotes: You will have to pitch and quote for work in order to generate new business. These take time and often a lot of effort and often you won’t get paid a penny unless you win the business. Although you can offset the cost of providing quotes by upping your hourly rate this will be one of the biggest areas that you will find you work on with no pay whatsoever.
10. Premises: As your business grows, you may find that working in a spare room or out of your van simply doesn't cut it. Whether its for admin or storage purposes, any excess space you need may end up incurring additional costs.

So with those things in mind, does your initial estimate seem a little low? Installer Online advise raising it by around 30%, but you also need to be aware of just how much your customers are prepared to pay. But don't get discouraged! Although it's a lot to think about its true that tradespeople earn an impressive annual wage, and 70% of the self-employed workforce now earn over the national average of £26,093!

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Have you considered stepping into a brand new career and becoming a fully qualified tradesperson? Here at Access Academies we offer a full spectrum of trade courses including plumbing, gas, electricity, carpentry, tiling, plastering and painting & decorating. By training with us not only will you enjoy our state-of-the-art facilities and experienced tutors, but also gain exactly what you need for a long and prosperous career. To find out more please get in contact with our course advisers on 0800 345 7492.