Is it time to start my own recruitment business?

The last few years have seen such a big shift in business and working culture, with more and more people thinking it’s time to look out for themselves and their own happiness.

Often, employees of recruitment agencies are working around the clock to try and close deals, speak to candidates, and win new business. Sometimes, all that work in return for a basic salary and commission can be disheartening. 

If you’re a high-performing recruitment consultant and want to work to your own rules: Why not do all that work for yourself and reap the rewards?

Maybe the last couple of years has shown you that flexibility is key for you and your work/life balance is more important than heading into an office and getting a fraction of what you earn for the company?

Work out your margins and potential

One of the first ways you can see if the idea of going alone is by looking at your earning potential.

Typically, recruitment consultants receive a commission of around 25% (depending on your employer) of total net fee income on personal sales. Even the most generous commission plan is usually a fraction of what you could take home if you worked independently.

Work out what you regularly generate in sales and look at what your personal pay could be if you’re self-employed.

You can keep your initial setup costs relatively small, especially if you work from home and predominantly online. WeDo Finance can help you to look at the initial costs for your business, with full recruitment agency back office support including help with setting up email accounts, phone numbers, website and social media pages, business insurances, and recruitment and finance software.

Be prepared to put the work in

The end-goal for working for yourself is to work more flexibly and earn more money, right? That’s a great thought – but don’t walk blindly into it without preparing yourself. You must be prepared to initially work longer hours. You need to spend time networking, building your brand and winning new business. Choose a period of time where you can dedicate yourself to your new venture – not right before a holiday, for example!

Managing your own business will be a rollercoaster. There’ll be days when you wonder why you did it – and others when you wouldn’t have it any other way. It can feel lonely, especially in recruitment where your job is to sell and possibly do some cold calling.

At WeDo Finance, we have decades of experience in the sector and it’s in our best interests to see your business thrive. We know what it takes to set up a new recruitment business – and how to make it successful. You get the clients – we’ll do the rest. In fact, we’ll hold your hand through the whole set up process and beyond.

Can you make it work?

You know your skills and how well you perform – can you do it on your own? Would some start-up finance help you? We’ll cover everything else, from software to payroll – and even give you some working capital.

If you’re considering changing your life and starting your own business, give us a buzz today and speak to one of our friendly team. Let us help you to carve out your future!

Give us a buzz: 0330 900 5000