Director – Own Business Setup – All Recruitment Sectors
This is an excellent opportunity to become a business owner for your own recruitment agency with the support and guidance of an investment company that will support, guide, and help grow and build your business whilst taking away the risk and administration burdens of starting a new business by yourself.
Setting up any new business will take time and investment so it would make sense to work with a partner that has done this multiple times with other recruitment agencies in the past and can offer support that will get your business up and running as fast as possible.
What is different about this company is that there are no setup fees, subscriptions, or loss of ownership as you will still be the company owner 100%, the only way they make their money is if you make money.
For all the support and investment, you will simply pay a fee% on any profits you make each month typically 9% – 15%. This will be over a 4-year period and the % will reduce each year, they will also hold a very small equity stake in your business from 3% (you can negotiate to have this should you wish later down the line and this will depend on what initial cash injection you require)
The company has a rich talent pool of employees and works with 3rd party companies that are there to support and grow your business which includes former agency business owners, financial directors, marketing experts, website and logo specialists, HR and legal teams. They do this work day in day out which translates into getting your business up and running quickly and smoothly.
Initially, there will be a conversation with one of the teams to discuss your background and what you want from your own business and a chance for you to ask direct questions. If that goes well, they will work with you to devise a business model which will look at growth plans, future hires, target areas, projected revenues, realistic time scales, and when and how things will fall into place.
Once you have your clear business model, they will help you turn it into a reality. This will be a very exciting time as you will see what you discussed materialize into your business.
What they help you with is quite extensive and comprehensive some areas covered and what they will do include:
- Helping you set up as a company Director with companies house you will be 100% the business owner
- The first step would be to chat transparently about how the commercials work, giving you an ‘apples to apples’ comparison of start-up vs current employment. Once you have that, you can decide whether or not to do a deeper dive / go further down the process
- Put together TOBs, compliance documentation, legal and HR
- Website design, functionality, and company logo
- Devise a unique and tailored business model
- Finance and factoring companies if needed
- A CRM with technical support
- Offer 1-to-1 advice and support for very experienced people involved in projects like this before
- Advise with future: hires, office locations, staff employment contacts
- Payroll, timesheets, Accounts, Social media accounts and setups, I.T
- Offer free workshops
So how would all this look to you from a practical and realistic viewpoint
- You will always be the owner of the business 100%
- Any initial concern people have is financial commitments like mortgage, loans, car hire etc, and how they will pay these when starting a new business. Part of the process will involve looking at your earnings, outgoings, and potential earnings. From that, they can work out a cash injection for an initial period of time so you know you will have a fixed income coming in.
- To be eligible for this you will need 3 + recruitment experience with billings of £150k + years the typical person is either a senior consultant or a branch manager/ Director of an agency
- You run and grow your business at your own speed and trajectory. If one of your aims is to work certain hours and 4 days a week and take the business to a certain level and keep it there that ups to you, you will never be pushed to do more, grow faster, or make changes to your business you don’t want to do.
- You can be paid a fixed salary before you start to generate business
- The money you make from your business is yours which you can reinvest or take out as a dividend payment, it’s your money you have control over it
- If your business will be supplying temp staff, they can arrange for a factoring company to help with paying your candidates
- You will have a CRM to quickly populate with clients and candidates
- You will have the opportunity to speak with some of the other people who have used this company and been in the same situation, they will give you honest feedback and advice.
- They carried out a recent survey and found that without using them people would spend time on 60% business generation activities and 40% admin, using them this went to 92% business generation activities and 8% admin.
- You will not be financially tied in or committed as there are no fees or subscriptions
- Initially, you can work from home to save on office costs and move to offices if you decide later, this is totally optional.
If anyone is interested the first port of call will be to send a CV to an advisor at Fox Search. This will be followed up with a phone conversation which will be more in-depth and will also involve sending through information obtained directly from the company.