What if you could open a franchise that wasn't about selling food or other products? Rather, your franchise would be about helping people. It would be meaningful because it would be about connecting people and helping other businesses thrive by finding them the best talent available.
Well, it's possible. Just as Ron Herzog, President and CEO of Fortune Franchise Corp, or FPC. Throughout his career, in recruitment he has helped clients find the best talent to grow their businesses and also helped candidates identify the best opportunities to advance their careers.
So what does the process for new franchisees look like? Franchise Gator recently spoke with Ron to learn more.
How much money, time, and resources (on average) go into recruiting when business owners take it on themselves internally?
The big question for business owners is how quickly they need the talent they are looking for. Keep in mind when you engage an executive search firm, their one and only focus is satisfying your critical staffing needs. Business owners don't have the resources to dedicate the laser focus required to attract the right talent for their positions, and recruiting often falls to the bottom of their priority list. Depending on the size of the company, the costs, time, and resources can vary greatly. Another disadvantage employers have in finding their own talent is that most of them won't pick up the phone and call their direct competitors. FPC recruiters are trained to identify and connect with passive candidates at any and all companies. This is often the only way to find those "needle-in-the-haystack" candidates.
How does a recruitment service like FPC help to alleviate some of those stresses and streamline the process? How is the quality of candidates enhanced?
Time and efficiency are two of the key factors. Speed is important, but not at the expense of quality. After a client and an FPC office have engaged and have completed the job intake process, which includes identifying all the requirements a candidate needs plus the "intangibles" the client would like to see in a candidate, the FPC recruiter is ready to start the search.
Typically, depending on the complexity of the search, a slate of three to five candidates will be presented to the client. The goal is to get one or two presented within a week or so from the time the search was launched. This slate of candidates includes only individuals who have been thoroughly vetted and briefed about the opportunity and have expressed interest in the position and the company. By "outsourcing" the hiring process to FPC, employers can stay focused on their business and within a short period of time have several "on-point" candidates to interview. Recruiters eliminate the stress, streamline the hiring process, and provide fully qualified and engaged candidates.
What does it take to become a franchise owner at FPC?
The majority of our owners have generally worked in the corporate world for several years. They have held mid- to senior-level leadership positions and have been responsible for major business decisions. When they contacted FPC, they were at a career crossroads. They have an established record of success, but may now either be tired of the bureaucracy of corporate life, were a victim of downsizing, are sick of travelling too much, or are frustrated with the lack of income growth and leadership potential. New franchise owners have the support and encouragement of their families. They are goal oriented, possess a positive attitude, and have a strong work ethic. They also see the benefits of joining a supportive, encouraging network of colleagues.
What are the perks of being a franchise owner with FPC? Are there any challenges?
- Owning and operating an FPC franchise will afford you the following:
- A business with low overhead, high margins and strong income potential
- Multiple revenue streams
- In-depth initial and ongoing training for the life of your franchise - for yourself and the recruiters you hire via FPC University
- A very scalable business
- A network of like-minded franchisees that act as your own Board of Advisers
- The ability to split business with other offices so you never have to say no to candidates or clients
- Recognition programs
For the potential franchisee who decides using the infrastructure of an established business is the smartest move, there are a lot of businesses out there with franchise opportunities. Why would recruitment consulting be far and above the rest?
Assuming that you have done adequate self-reflection/due diligence and have determined that executive search fits your personal and professional goals, you will find that FPC is far above the rest. The executive search business is a complex, sophisticated, intellectually-challenging business that offers strong personal and professional satisfaction. You spend most of your time interacting with candidates and clients and have the opportunity to make a positive impact on their lives and businesses.
In addition, our business model has very low overhead and high margins with the ability to easily scale up or down. Income potential is extremely high assuming you are willing to follow our process and become a student of the business. We are a phone business, so travel is almost non-existent. This aspect affords you the ability to enjoy dinner at home every night, attend your children's school and sporting events, and offer an all-around attractive work/life balance. As with starting any business, you will experience some ups and downs in your first year. However, given that FPC has been opening and supporting successful franchises for over 40 years, the blueprint for success has already been printed for you.
Ready to start a franchise? Check out some of the opportunities that are available.