For some people being their
own boss is a life long dream and ambition. This is the same in many
industries, however one of the most common dreams for recruitment
consultants is to start their own recruitment agency.
Many recruitment consultants
who may have the skills to be a success struggle once they go at it
alone. The main reason for this is that they have not fully
considered all of the costs associated with running their recruitment
agencies.If you are in the process of totting up potential
figures, some of the best advice I can give you is to over estimate
any costs that you have included and under estimate any income that
you think you can make. This will give you a better look at the
picture when it comes to your first few months to a year of
trading.The first cost that you should think about is the
cost of where your recruitment agency is going to be based. Many
contemplate running their agency from home, but realistically this is
not a viable option. Purchasing or renting an office is a
much better option as you will need to have somewhere to work from. I
would recommend that you rent some office space to begin with as you
don’t really need to, or shouldn’t want to commit yourself to
owning anywhere just yet.Why would you need an office space
if your going to work alone? Well to put it simply, you aren’t. You
are going to need to employ somebody to help you, even if it’s in a
secretary support role. Recruitment Agencies have a lot of paper work
and a lot of incoming calls. These tasks need to be dealt with by
somebody else whilst you are trying to secure and place
candidates.Apart from your heating and electricity bills,
your main expense will likely be your telephone bill. Recruitment
Consultants do spend a long portion of the day on the telephone to
ensure that they are working to gain placements and opportunities to
do so. As well as a landline phone bill, you will find that running
your own business does involve you making a lot of calls on your
mobile phone – even when your on holiday!The final big
regular expense that you will have to incur will be that of your
accountant. You should always look to employ a professional
accountant to do your number work as it will save you a lot of time
and stress.
