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Small Business with Recruitment Business

Postby skysnap » 06 Jan 2017, 09:32

These days recruiting other people for the job is turning out to be a good business. However the earning is good, there are phases where the business is likely to go dry. And this is where you can pitch this business as more or less of side income if you have other strong business going on. From my observation this business is only good for those who have some capital and office. However anyone can start this business if they know how to get into recruitment niche where they wish to get clients. Here are some of the ways you can build side income with recruitment business.

Setup

Recruitment business requires you to have an office space. So if you are single person then this can be harder to setup business. You need dedicated place and the people who work in such business. Setting up place at home can work out initially but you need an office. Otherwise candidates are less likely to take you seriously. Another important point is that while you are calling and inviting companies for your office, it should be decent one.

Database & Contract Amount

Biggest work that one has to do is in the database. You need to build a bigger database where you have to collect the information of the candidates. And they need to be called for the interview opportunity. If you manage to get the candidate inside the company as employer, then you are likely to get some money in return. The percentage is likely to be around 6% to 8%. And that can be fluctuating as well. But yes the database creation helps to reach that respective amount if and only if the candidate gets hired.

Contract

In case of the contract, you can choose to do with client as well as the candidate. Both can be under contract. Some of the time you may find that organization is the one that may get bind into the contract. But if the client refuses then under contract you can legally get the money out of it. Usually that part never comes in if the client is decent. And it's your job to find such client. What I have realized on the other hand is that such contract keeps you safe most of the time. My employer has such contract with me and the client too.

References

Most of the repeat business happens if the organization have the good experience. What is there is no initial experience with you? In such case one has to go for the references. And most of the clients prefer you going through the reference channels. This can be a good option in case if you want to establish your business. References matter a lot when it comes to getting new clients and sometimes also while keeping them. So start building the references as early as you can.

Training

You may initially need to train yourself on soft skills and communication. This is so that you can call the client and also learn from the communication. So lead development and other training needs to be taken here. You need to have some funds in order to expand into this phase. As a small business, you constantly need to get into this phase.This step requires more effort and also this is the phase where you have to employ people.

This side business idea requires effort but if you manage properly you can make some decent money. You have to initially give some investment and then things can roll pretty good from there. This idea can be good if you have some money and space for the work. If you don't have that then this idea may not be for you.
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