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Finance And Services:

Business For Sale. A Majority Interest In A Freelance Recruitment Technology Platform

LISTING DETAILS
Firms For Sale ID:
35155
Vendor reference:
CE232
Vendor website:
     
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BUSINESS DETAILS
Location:
Primary sector:
Asking price:
£500,000  
Turnover / revenue:
£356,000
Net profit / cashflow:
Undisclosed
Number of employees:
3

OTHER DETAILS
Reason for selling:
The shareholders are looking to sell a majority interest in the Company while retaining a small equity stake post-sale..
Support and training:
The existing management will provide full support and training at handover to ensure a seamless transition of ownership.
Business is relocatable:
Yes
Business is web-based:
No
Business is home-based:
No
PROPERTY DETAILS
 
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BUSINESS DESCRIPTION
Relocatable

Location: London

Asking price £500,000

Asking Price Includes:
Unique Software Platform
Over £15m spent on development
Up to 75% majority interest is being offered
Turnover for last successful financial year circa £356,000 p.a.
Excellent reputation
Established, independent recruitment agency Software Platform
Trained consultants
4.2m candidate database
Extensive client database
Training and handover
Goodwill
Website
Business Profile:

This business is a recruitment technology platform that provides all the tools a freelance recruiter needs to work remotely from one easy to use dashboard. Following initial development expenditure of over £13.2m plus a further £2m, the platform now provides a CRM and talent pool of 4.2m CV’s.
It is either the ideal bolt-on technology platform for a large recruitment company looking to take on more roles from new and existing clients and increasing fee revenues without growing their fixed overheads.

Alternatively the platform could be used by an existing software company to enter the lucrative recruitment market or even as a platform for this and other industries such as estate agency.

It only requires a feed of job roles and freelance recruiters to simply make the placements.

The company was founded some 5 years ago and over £15m has been spent on creating the platform and its online presence.

Before Covid it had recruited some 51 freelance recruitment consultants who paid the platform a monthly fee and a percentage share of the placement fee.

The software is proven and is now ready for a new owner to grow its market share and attract additional consultants.

At a time when more and more professionals are wanting to work from home and be self-employed this Platform allows them to do just that. Each consultant has access to millions of CVs and a professional web-based service.

The platform attracts employers looking for staff that want more than just a Jobs Board and want a professional and personal service from a seasoned professional recruiter who will qualify and sort the candidates and produce a shortlist of the most suitable for a fraction of the cost of a traditional recruitment agency.

Each consultant will have extensive knowledge and well established links with a strong network and contacts in the business community that give them the opportunity of working with employer groups. The Platform enables an individual self-employed consultant to conduct business as if they were part of a multi-national organisation.

Meanwhile the Platform allows an existing recruitment agency to grow exponentially at a fraction of the cost of employing office based staff.


Independence is a key contributing factor to the continued success of the business as this allows the flexibility to provide focus, speed and real commitment to client’s needs. Each consultant ensures that each individual candidate and client receives the same high degree of customer care.

The consultants aim to match candidates’ career aspirations to rewarding job positions, and by investing time and using an exhaustive pre-selective service they make sure only candidates that are well qualified and suited to each vacancy are put forward.

Recruitment is very much a 'people' business, providing advice and practical support to clients and this Platform makes the consultant an expert in good all round matching while ensuring clients receive a friendly, professional and courteous experience.
Technology:

Over £15m has been spent on developing a state of the art, multi-user software platform. The business has excellent back office administrative systems and processes that ensure the business is run efficiently and effectively. It also utilises Sage accounting and payroll software.


The business also has an informative interactive website for candidates and clients alike, while attracting suitable consultants to join the platform.

Customer Service:

Consultants on the Platform are chosen for their level of expertise and more importantly their passion for the business


The Platform has developed an impressive personalised yet structured service aimed at understanding client requirements and their needs.


The business has established the contacts and the reputation to ensure a highly individualised, personal service.

Key Strengths:

• A vast CV bank of over 4.2m CVs
• A unique gig-economy business model
• A state of the art software platform
• Extensive product development
• Perfect as a bolt-on to an existing and ambitious recruitment agency
• Huge economies of scale


The Company has a large and loyal client bank who have used its services time and again.

It also has a highly qualified candidate bank so it can react quickly to match client requirements. The knowledgeable and experienced team has expertise and professionalism.


Growth and Expansion:

The Company recognises that the business could grow significantly. Built on solid foundations the Company now has a “blueprint for success” in place, and this process can be rolled out as a new owner so wished.

This is a rare opening to acquire a majority interest in an extremely a highly attractive business that could adopt a more sales motivated structure to build this excellent operation into an even bigger cash earner.

With a strong demand for services and a new capacity to increase turnover, a new owner would contribute new levels of energy, fresh ideas and outside influence to build on an excellent base.

This business offers a tremendous opportunity for growth and expansion, with wonderful opportunities for the ambitious new owner or another agency wishing to expand their portfolio.

Advertising and Marketing:

The company is highly credible and does limited advertising through the most appropriate and successful mediums including internet recruitment websites as well as having its own website. The best form of advertising however is "Recommendation". The business regards existing clients as their best advertisers, bearing testimony to the excellent reputation the business has earned since inception. A high percentage of the business’s revenue being due to strong word of mouth recommendation, bearing testimony to the excellent reputation it has throughout the industry.

Employees:

The consultants are self-employed independent contractors. The company only employs three full time staff.


Financial Information:

The business is being offered for sale on a going concern basis, all financial discussions will take place directly between the vendor and all interested parties under the auspices of Turner Butler.

In the year ending April 2020 the Company had a turnover of £356,156 and made a loss. Covid then occurred and the effect on the employment market and the Company was significant.

Costs have been cut and overheads reduced. The present shareholders are not able to invest additional capital and so the shareholders have resolved to sell up to 75% of the equity in the company in order pay off liabilities and to bring the Net Assets to a net zero.

Equipment:


Office Furniture and equipment
Computers/back office systems/telephones.
All included in sales price.

Reason for Sale:

The shareholders are looking to sell a majority interest in the Company while retaining a small equity stake post-sale..

Support and Training:

The existing management will provide full support and training at handover to ensure a seamless transition of ownership.

Asking Price:

The Asking Price of £500,000 is for 75% of the issued share capital in the limited company. This is based on a cash free debt free scenario with the resultant Net Assets post-completion being Zero.