Working under own ABN instead of Labour Hire PAYG

I am thinking of biting the bullet and taking my own ABN as my day rate with labour has been stagnant.

Has anyone done this? Is it too much effort to work as a contractor with my own ABN? What are the costs that I need to take into account such as:

• insurances? -payg tax? -gst? -admin cost?

Is there a company that can take care of these for me but charge less than what labour hire firms take from my rate?