Over a 25 year period, we have launched over 20 new recruitment entities, from IT, Accountancy, Sales, Marketing, Social Care, Locums, Education, Construction, Technical and Engineering and specialist professional services. Combined, these businesses would have revenues in excess of £300m, and net fee income of over £35m.
Setting up a new recruitment business will be one of the most exciting, rewarding and challenging roles you will have ever tackled. Typically, we all concentrate more on the branding, the sales pitch, the customers, and the money. What we tend to overlook is the complexity of setting up legal entities, shareholder agreements, articles of association, how to negotiate and secure a lease, how do we get paid? Who collects the cash? Who does our accounts? How much will it cost? Legal requirements, restrictive covenants, finance, cashflows, compliance, who designs the web-site, who creates the corporate branding, how do we grow quickly and successfully, competitive tendering and marketing tool kits, databases, what do we look
like year 2 and 3? What is our exit plan?
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