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| Reply To This Thread |
| Re: Success |
| Author: | doug |
| Date: | Tuesday, 1st Jul 2008 14:43 |
| Views: | 113 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=107119 |
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best course from a risk perspective is to set up 5 individual Ltd companies but trade under the banner of one brand - this way, each person at each site would truly be responsible for their own revenue and earnings. |
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| Re: Success |
| Author: | I agree |
| Date: | Monday, 7th Jul 2008 14:35 |
| Views: | 94 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=107119 |
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I agree with Doug.
Unfortunately I've been there, done that, bought the T-shirt etc. I don't want to pour water on your plans, but I would be very reluctant again to go into partnership with anyone. We've been going several years and all want different things now. Some work hard in the business, others don't. Some blow their own trumpet unjustifiably, some are grafters. Inevitably in any business some end up more running the business, whilst other end up being the top billers, so it's hard to have a fair situation financially.
If I'd done this on my own and had 100% of the profit I'd be comfortable. Splitting the profit between us means it has been rubbish and I can't wait to get out.
Dougs idea of a Ltd co each, sharing resources and all working under one umbrella co. sounds ideal.
Whatever you do get watertight agreements drawn up that show good and bad reasons for leaving and provide a clear exit plan and share valuation.
Don't forget the insurances like keyman etc.
Good luck & keep us posted on your developments. |
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| Reply To This Thread |
| Re: Success |
| Author: | Absolute clarity |
| Date: | Monday, 7th Jul 2008 19:33 |
| Views: | 106 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=107119 |
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Hi. If you aim is to find " the best route to achieve massive growth and expansion of a agency in the shortest possible time and would be the ideal route for anyone looking to make it big quick" then company formation/location less important than finding the right market.
You could work alone using just a phone and email and make as much money as you can spend with low overheads if you find a lucrative niche.
Remember to buy insurance, use recognised terms of business and get yourself a good accountant.
I work solo and sometimes miss the companionship and office gossip but I would not be pursuaded to go into business with others even if I had worked with them before - it's like going on holiday with a friend who turns into a bunny boiler.
Good luck! |
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| Re: Success |
| Author: | R |
| Date: | Monday, 7th Jul 2008 21:34 |
| Views: | 110 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=107119 |
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I agree with the others, why would someone want to go into partnership when they can own 100% of their own company and do it alone.
Personally, I would go alone, that way you have your own input, say in things and don't have to answer to a board.
Opening 5 offices is a big risk, I think it's running before you can walk, why not start one company first and see if it's profitable before risking other offices and costs. |
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| Reply To This Thread |
| Re: Success |
| Author: | I also agree |
| Date: | Tuesday, 8th Jul 2008 08:09 |
| Views: | 118 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=107119 |
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I agree makes a good point. Trade under the same name, share your resources / database etc however keep profits for an individual basis. There are always going to be regional differences if the offices are based across the UK and why should one member have to compensate with his profits for others who aren't billing as much? |
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