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| Keep 70% Billings - any advice |
| Author: | Phil |
| Date: | Wednesday, 21st Oct 2009 13:38 |
| Views: | 548 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=194567 |
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Hello all,
I was made redundant from a legal recruiter earlier this year. I was working on a desk recruiting paralegals and legal executives. My billings were around £50k a year, for 2 years. To put this into context, it seems that there is just not enough market to sustain paralegal recruiters in my geographical area. All competitors withdrew from the market at around the same time and, whilst they only had 1 person working the market, a second consultant was appointed early into my tenure because the early good results I had convinced the powers that be that there was room for 2, when there probably wasn't room for 1.
Anyway, I am struggling to get back into recruitment. I am thinking of going down the route whereby you are self-employed and keep 70% of billings. I think I am much better than those poor billings show, more exprieced colleagues on the solicitor recruitment side often sought my opinion, I am keen to learn and have read and implemented a raft of recruitment books, and think I could make a go of it. I would look to do search.
My only concern is, if something's too good to be true, it usually is!!
Has anyone got any experience of working on such a basis, or know anyone who has? All advice received very gratefully!
PJ |
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| Re: Keep 70% Billings - any advice |
| Author: | Derek |
| Date: | Wednesday, 21st Oct 2009 13:58 |
| Views: | 29 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=194567 |
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Phil,
Depends what they do for their 30%, if they provide clients and access to good databases maybe thats OK but I suspect they give you a banner to work under which will have more value to them than to you and some back office support.
If you can find your own clients and candidates then it would not be too difficult to generate a couple of invoices each month and pay a few bills - and keep 100% of your billings (to pay you and your outgoings)
Start off as a sole trader (low accountancy costs) then as you grow take advice about becoming a Ltd Co.
If legals in your area can only generate £50k you might want to consider widening your net and cover general admin as well.
Derek |
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| Re: Keep 70% Billings - any advice |
| Author: | Phil |
| Date: | Wednesday, 21st Oct 2009 16:19 |
| Views: | 34 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=194567 |
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Derek, thanks for your thoughts! The 'partner company' would design a website, print stationery, provide recruitment software, personal tax advice and incorporation advice. I like the idea of recruitment software and a website, but apart from that, 30% seems a bit steep.
I would go into recruitment of solicitors, in the main, possibly on a search basis. I did a bit of headhunting from accountancy forms for a position in a law firm, and thoroughly enjoyed the experience. I don't know what billings I could get; I think my former colleagues who deal with solicitor recruitment are very much affected by the downturn but are still managing around £100k.
Then again, I guess I could go on web design courses. And I would be happy with a paper system and reference cards by speciality instead of a database!!
Thanks again Derek, very much appreciated. |
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| Reply To This Thread |
| Re: Keep 70% Billings - any advice |
| Author: | Gavin |
| Date: | Monday, 26th Oct 2009 12:08 |
| Views: | 26 (excluding Digests and RSS feeds) |
| Category: | Other | | URL: | http://web.ukrecruiter.co.uk/forum/Forum/read.php?i=194567 |
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Hi Phil,
We offer similar deals to this but not at 30% and speaking bluntly if they are offering all of this for a 70/30 split I would snap thier hands off!!!
I know from experience that there is no way they can run a profitiable and sustainable business offering that kind of deal.
If you are confident enough in your market and ultimatley your own abilities why not go on your own?
Happy to offer help and advice if you decide to take that route.
Gavin |
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