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Setting up your own business.

  • 03-04-2008 12:52pm
    #1
    chill2366
    Closed Accounts Posts: 1 ✭


    Hi

    Just wanted to come on a get a bit of advise really. I live in the Limerick Area and me and my mum are thinking of setting up our own business. The thing is what to do. We do have 2 ideas - they are both completly different from each other though. The first one is a recruitment agency - we would both be good at this. Low start up cost - and my mum had such bad experience's from them a few months ago when she was looking for a job and thinks that she would be able to provide a better service then she recieved.

    The second one was a card/gift shop (that sold nice stuff for good value - as some are so overpriced -. Bigger start up cost and you would have to rent a shop right in town to get the business and belive me they arent cheap. Also where would you get the stock from?!!! I know that you would get them from a wherehouse in bulk - but where are these places and where do you go about finding this out. I am liking the Recruitment agency more to be honest - but where do we start - and do you think we can make a good enough living off it - we only want to start off small with the 2 of us and see where it takes us.

    Any advise will be great.

    C xxx


Comments

  • #2
    board om
    Closed Accounts Posts: 643 ✭✭✭board om


    chill2366 wrote: »
    Hi

    Just wanted to come on a get a bit of advise really. I live in the Limerick Area and me and my mum are thinking of setting up our own business. The thing is what to do. We do have 2 ideas - they are both completly different from each other though. The first one is a recruitment agency - we would both be good at this. Low start up cost - and my mum had such bad experience's from them a few months ago when she was looking for a job and thinks that she would be able to provide a better service then she recieved.

    The second one was a card/gift shop (that sold nice stuff for good value - as some are so overpriced -. Bigger start up cost and you would have to rent a shop right in town to get the business and belive me they arent cheap. Also where would you get the stock from?!!! I know that you would get them from a wherehouse in bulk - but where are these places and where do you go about finding this out. I am liking the Recruitment agency more to be honest - but where do we start - and do you think we can make a good enough living off it - we only want to start off small with the 2 of us and see where it takes us.

    Any advise will be great.

    C xxx


    tbh everyone thinks that recruitment agencies are easy to set up and low cost start up, etc, but they arent at all. it is a lot of hard work. i used to do it myself and it is no easy number. people think that you just get huge fees for putting an ad on a website but far from it. you could spend weeks working on a role and the company might never take the candidate. you need to know the various industries you are recruiting for becuase if you call and IT company offering your services and they realise you dont know anything about IT, then why are they going to use your company when there are plenty of other comapnies that do know about it. the better recruiters worked in the industry before starting recruiting in it. i came from the same industry i ended up recruiting for and knew every company in the market, and it still wasnt easy.

    regarding the set up costs, you wont have your company name out there being new so you will spend a few months building up a client base. you will also need to source candidates for the jobs, newspaper ads are very expensive and very ineffective, online is how most of it is done nowadays and that is expensive as well. you need subscriptions to websites like Monster, irishJobs, Recruit Ireland, etc so that you can place ads and source candidates and these cost about €10k + a year. to give you an example our subscription for one of these companies (i wont say which one) was over €30k for the year and that was just to place ads, that doesnt include CV databaes. and when we reviewd it at the end of the year we realised that not one single candidate who applied through that website was placed in a job. so basically at the end of the year that was €30k+ down the drain. that will give you an idea of how hit and miss recruitment is. we sometimes had teams of 3-4 recruiters calling candidates for entry level customer service positions, so basically the candidate just had to turn up for the interview and they had the job. easy you would think. that team would have called 100 people a day for 2 months, and not get a single placement out of it. or worse still the candidate goes through all the interviews and gets the job, but then they leave the job a month later and the recruiter still gets nothing.

    bottom line is there are a lot of recruitment agencies, both big and small, have closed down in the last few years. recruiment websites are pretty much taking over. the way companies see it is why pay a recruiter when all they are going to do is get CVs from Monster and send them over. why not just subscribe to monster themslves and find the same CVs for a fraction of the cost, and thats what they are starting to do.

    personally i would go back and look at your card shop idea.


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