If you’re a people person with a knack for negotiation and sales, you could enjoy a hugely successful career franchising with a recruitment business. As a recruiter, your professional life will be both diverse and profitable. Here’s everything you need to know about taking that leap and becoming a franchisee in the recruitment sector.
The recruitment industry has been booming in 2021, and now makes a direct contribution of over £42.3 billion to the UK economy [Recruitment & Employment Confederation]. If you’d like to join this growing, in-demand sector, this article will tell you exactly where to start your journey.
What does a recruiter do?
Before you make any investments or legal commitments, it’s important that you fully understand the role of a recruiter, and whether it’s something you’d be suited to. That means step one is doing your research and finding out all you can about the job. Most recruitment consultants are responsible, primarily, for matching candidates to job roles. Other daily tasks for franchisees in the recruitment industry include:
- Client/candidate meetings
- Client/candidate research
- Marketing and advertising your brand
- Marketing and advertising job roles
Beyond the clear demand among UK companies and jobseekers for recruitment agencies and dedicated recruiters, there are many different advantages to working and franchising in the sector:
- Your role will be flexible and dynamic, with new clients bringing daily variety
- You’ll be constantly helping people achieve their goals
- You’ll enjoy a competitive culture and the ability to secure commission bonuses
- You’ll benefit from your franchise’s brand name and proven business model
- You’ll receive plenty of training and support as you start your franchise
- Low-cost investment opportunities are available
One of the greatest parts of being a recruiter is that you’re constantly bringing people together. Your clients come to you in search of the perfect candidate; and job hunters approach you when they’re looking for their next exciting role. Being able to work with and connect the two is incredibly satisfying.
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How to run a recruitment franchise
Once you understand the industry and the role you’ll be working in once you become a recruiter, there are a few more bases to cover in order to set yourself up for success and build a strong franchise business. Follow these four important steps...
1. Assess your skills and qualification level
Some franchise networks in the recruitment industry will require relevant experience from you, while others won’t. If you have experience, you can pick and choose from a wider range of options. If not, you’ll need to either narrow down your list of opportunities or pursue additional experience/qualification before investing. In terms of your transferable abilities, the following soft skills would benefit you in this line of work:
- Organisation and time management
2. Narrow down the pool of opportunities with careful research
Continue the process of narrowing things down by assessing opportunities based on all the factors that matter to you, like available operational locations and cost of investment. Find a franchise opportunity that won’t over-stretch your budget, and won’t see you having to work in an area that isn’t your ideal choice. In such a huge industry, there’s no need to settle for less than what you want.
3. Do your due diligence before signing the franchise agreement
Due diligence is a process of verification, investigation, or audit of a potential deal or investment opportunity to confirm all relevant facts and financial information, and to verify anything else that was brought up during [the investment process]. Due diligence is completed before a deal closes to provide the buyer with an assurance of what they’re getting.
– Corporate Finance Institute
Having chosen an opportunity, be sure that you’ve done your due diligence before signing your name on the dotted line. Complete a full analysis of the franchise, especially its financial status and situation. Speak with the franchisor and get answers to any and all questions that you have. Speak with existing franchisees, too, so that you can dive into their experience. Feel confident and informed. Know what to expect, what you’re getting into, and when you might recoup your initial investment.
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4. Keep developing as a franchisee and seizing ongoing opportunities
Even once you’ve settled in and started running your recruitment franchise, you can continue to grow and develop (as both a recruiter and a business owner). Seize every chance you get to develop your practice and increase your knowledge, because a committed businessperson is a successful businessperson.
Franchise opportunities in the recruitment sector
1. Wolf Education
Wolf Education is a recruitment specialist working in the education sector to fill temporary and permanent contracts. First established in 2020, the brand has seen huge success, selling 22 territories across the UK by January 2021.
- Becoming a Wolf Education franchisee: Wolf Education franchisees should be experienced recruiters, preferably from the education sector, though professionals who have worked in other areas of education will also be considered.
- How much you need to invest: You’ll need to make a minimum initial investment of £19,950.
- What you get for your investment: You’ll receive a five-week training course that focuses on candidate, client and sales principles, along with ongoing franchisor support wherever you need it.
Tezlom is a healthcare recruitment agency that places healthcare professionals across the UK in suitable roles. Tezlom was founded in 2008, and has grown substantially in the past 13 years to become a national franchise network with a strong reputation.
- Becoming a Tezlom franchisee: Tezlom franchisees don't need specific industry experience, but should be able to foster a supportive culture and support their agency workers. They should be great at building connections and confident spinning multiple plates at once.
- How much you need to invest: You’ll need to make a minimum initial investment of £25,000, with franchise fees of £25,000 and a total investment cost of £60,000.
- What you get for your investment: You’ll receive an initial training programme, marketing assistance and access to Tezlom systems. You’ll also be provided with operational guidelines and plenty of franchisor support.
Become a recruiter and make a career change that brings you professional fulfillment and financial security
You should now have a strong understanding of how you can become a recruiter. If you’d like to learn more about franchising and the role of a franchisee, stay on Point Franchise. Find out the five pitfalls that could limit your success, or discover how to develop an effective franchisor-franchisee relationship.
Lily Sweeney, Point Franchise ©