Questions and Answers with F-O-R-T-U-N-E Personnel Consultants (FPC)

What sets F-O-R-T-U-N-E Personnel Consultants (FPC) apart from other recruiting franchises?

FPC is a strong, close-knit network of professionals who specialize in niche industry categories to help fill their clients’ critical staffing needs. FPC is a closely held, private company which affords its franchisees a direct line to the CEO for any questions, issues or concerns.  At FPC, franchisees are truly part of a “family” that share best practices, business opportunities and celebrate success together.  Our motto is “Be large enough to support a national system, but small enough to remain personal, flexible and responsive to our owners’ individual needs.”   One other competitive advantage is our Exchange program where offices share candidates and jobs. This allows our recruiters to increase revenue within their own discipline or make placements in areas they don’t cover themselves.

Can you tell us about the business model for an FPC franchise?  How do your franchisees make money?

Most FPC offices are owned by former corporate employees from a variety of disciplines including supply chain, engineering, quality or finance and accounting, and for one reason or another, were  ready for a change.  FPC teaches them how to place the types of professionals that they once were.  Franchisees derive income from direct placement of candidates with their client companies.   Their fee is generally billed as a percentage of the candidates’ first years’ compensation.  FPC offices can benefit from multiple revenue streams including contingent placement, retained services and contract staffing.

What is the current state of the franchise sector within the recruiting category?

There is a lot of opportunity within the recruiting category, specifically with FPC. The Bureau of Labor Statistics reports that national unemployment stands at 6.1%, but that number is very misleading for people considering the executive search business.  FPC generally places mid to senior level management professionals in manufacturing companies nationally.  The unemployment rate for those types of workers is nearly half of the national average (3.2%) - FPC National direct hire revenue is up over 10% year-over-year and the biggest challenge is finding good candidates to fill jobs, not finding good jobs to work on.

Can you describe the primary target customer for FPC?  How are your franchisees reaching out to this target customer?

FPC recruiters’ Ideal Customer is a senior-level executive within a midsize manufacturing company that understands the importance of talent acquisition and values the relationship with well-connected search consultants.    FPC owners and recruiters are trained to work with their clients in two distinct ways…first, when the clients that they maintain relationships with need help filling a specific role, they go out and recruit top-quality, passive candidates on their behalf.  FPC recruiters also proactively call on new and existing clients to make them aware of talented professionals in their industry and discipline that may be available.  One of the most important aspects of a recruiting franchise is that location does NOT matter.  We have successful franchises in several small cities around the country.  Also, there are no territorial boundaries that determine where you can or cannot call.  In recent years we’ve even seen a large uptick in the amount of international placements we’ve made.

What are the most important things a prospective franchisee or employee should know or be prepared for when entering the recruiting industry?

We’re very upfront with prospective franchisees that this is an owner/operator business that comes with its highs and lows.  Most people coming out of corporate America don’t realize how much experience they have that is already very relevant to the recruiting business such as interviewing, hiring, managing multiple stakeholder relationships and negotiating deals.  If we had to pinpoint one trait that is consistent throughout our system it would be persistence.  Whether it’s trying to find the right candidate to fill a unique role or identifying a hiring manager at a company that you really want to do business with, the drive to succeed and not give up until you reach your goal is critical to your success. 

How do you keep ahead of the curve when it comes to competitors?

One of the best moves we made was back in 2007 when FPC established a “model” office that shares office space with the Franchisor in New York City.  It’s a fully functioning executive search firm which acts as our “R&D” department. By having a company owned office, FPC is able to test new software, recruiting methods, training techniques and various other operational items.  This allows us to present successful, cutting edge ideas as well as steer franchisees away from less useful tools that may be a waste of money and effort.   The office also gives us real-time insight into what is happening in the marketplace which helps us to guide our offices accordingly.

Where do you see FPC going in the next five years?

Based on the impending labor shortage, FPC is poised for strong revenue growth from our existing franchise system over the next five years. Additionally, FPC expects to add between 35 and 40 new offices which will put us at 100 + franchised offices by 2019.

Are there any changes you foresee in your industry?

There is no doubt that we are in a dynamic industry and the internet has had a major impact on how we do our business.  We saw the value of traditional job boards peak a few years ago and the rise of social media continue to develop.  As company’s talent needs continue to grow and corporate recruiting departments are overwhelmed, specialists like FPC recruiters are going to increasingly be counted on to identify unique, passive and sufficiently more qualified candidates.  In fact, according to a survey conducted by BullHorn (recruitment software company), of 1337 US based recruitment professionals, 77% met or exceeded their goal in 2013 and 88% feel that 2014 will be even stronger.

What are some common characteristics of your top performing franchisees?

Across the board, the top 5 characteristics of successful franchisees are a strong work ethic, good people skills, coachability, excellent listening skills and a drive to succeed. 

What kind of training and support can your franchisees expect to receive?

Throughout our history, training and support has been the single greatest driver of our success and consistency.  The initial training class at our corporate headquarters in New York City is two weeks long. During the training, franchisees learn about the intricacies of the recruitment business. They will also learn successful strategies for the day-to-day operations of their new office. In addition, we provide another week of training at their office location. This on-site training includes working with your new consultants, setting goals and establishing a solid foundation on which to grow. Training and support continue throughout our relationship, including frequent phone contact, periodic office visits, regional seminars and an annual owners’ conference for all FPC owners nationwide. FPC is as successful as our franchisees are and we feel strongly about initial and on-going training and support.

What kind of work background or skill set are you looking for in a franchisee?

The majority of FPC owners have generally worked in the corporate world for a number of years. They have held mid- and high-level positions, and been responsible for major business decisions. When contacting FPC, they find themselves at a career crossroads.  . They have established a consistent record of success, but may now be tired of the bureaucracy of corporate life, too much travel, the lack of income growth and leadership potential or been a victim of downsizing.   They are goal-oriented, possess positive attitudes and strong work ethic. They are also excited about joining a supportive and encouraging network of colleagues.

What are your growth plans for FPC?  Which geographic markets are you targeting for expansion?

As stated above, FPC expects to be at 100 + franchised offices by 2019 and those franchises can be located anywhere in the US.  As well, we will endeavor to work with all our franchisees to hire recruiters and researchers to grow their businesses.

What type of area development opportunities are available?

Currently there are no area development / master franchise opportunities available.

Is there anything else you wish to share about FPC?

If you feel you are ready to take control of your personal and professional life, enjoy increased income potential, a favorable lifestyle and the equity that comes from owning your own business, then we would be more than happy to talk with you to determine if FPC is right for you.

For more information view the origina article at https://www.franchisehelp.com/blog/questions-and-answers-with-f-o-r-t-u-n-e-personnel-consultants-fpc/

Similar to the concept of “ABC”. Job seekers should always be networking and keep an open mind to alternative career opportunities. 99.5% of FPC owners never thought they would own and operate an executive search firm.

http://www.foxbusiness.com/personal-finance/2014/08/04/should-be-networking-all-time/?intcmp=fbcolumnsblogs

When it comes to securing a job in the current labor market, the adage of "it's all about who you know" especially rings true.

Networking is a big part of securing a job and advancing a career, which is why networking and connecting with other professionals should be happening all the time. 

At the end of July, LinkedIn released its new LinkedIn Profile on Mobile, which redesigned the way its mobile app displays users' profiles

Making the change wasn’t easy. In my conversation with the LinkedIn mobile team Tomer Cohen, head of the mobile product team, expressed that your profile “is the heart of LinkedIn and any change would require a lot of care.” Krista Canfield, mobile product PR lead, likened the process to “going to your favorite restaurant and finding out they changed the recipe to your favorite dish.”

Here are some thoughts on how to best use LinkedIn (LNKED) and its new tool to put your best professional foot forward:

Keep Your “Open” Sign On

Never have an incomplete or out-of-date profile on career networking sites. It’s like having a "closed" sign in your window, explains Canfield. 

Your profile should showcase your best professional story and what you have to offer. The only way to do this is with a complete, accurate and up-to-date profile. Make sure you regularly review you profile for accuracy, and always update it as your career evolves. Remember, your contacts are notified when you make updates, so it’s a good way to keep your professional network abreast of your  progress.  

Keep Your “Top of Mind” Relevant

In the modern mobile world, your professional identity is no longer centered solely on your job, but also around what you have to say. Social media has provided us all with an avenue for sharing real-time commentary on anything and everything going on around us. The challenge is being relevant. 

LinkedIn focuses on your professional persona, which means your commentary needs to be relevant to the people you are connected with and consistent with your knowledge, experience and professional identity. Make sure your updates are meaningful and showcase your expertise in a way that adds value to your network. Save the pop culture stuff for Facebook.      

Keep Your Connections Warm

It’s easy to lose touch, particularly if you have a large network. LinkedIn has several tools designed to help you keep your contacts warm without a lot of effort. 

Think of the contacts that show up in your “who’s viewed me” as a signal that these individuals were thinking about you and use it as an opportunity to reach out. Also, use endorsements to keep on the radar of colleagues you have worked with in the past. Just be sure you mean it!

Benchmark Your Trajectory

I’ve always been an advocate of looking to those who have gone before you for advice. 

A new way to do this is by checking out the profiles of those who have successfully accomplished what you are seeking to do. Search for those who have put together the kind of career you are pursuing and take a look at how they got there. If their profile is complete, it can give you some real insight into the path that led them to where they are now. And, don’t be afraid to reach out.

Refresh Your Memory on the Go

Before walking into your next meeting or networking event, you may want to hop on LinkedIn Mobile for a quick refresher on the backgrounds of those in attendance. The information you can pull from a mobile profile can be tremendously helpful. Finding that you have a past employer in common or went to the same high school may just give you that leg-up in turning that connection into a meaningful relationship.     

Michael “Dr. Woody” Woodward, PhD is a CEC certified executive coach trained in organizational psychology. Dr. Woody is author of The YOU Plan: A 5-step Guide to Taking Charge of Your Career in the New Economy and the new on-line course The YOU Plan for Career Change on Udemy. Dr. Woody is the founder of Human Capital Integrated (HCI), a firm focused on management and leadership development. Dr. Woody also sits on the advisory board of the Florida International University Center for Leadership. Follow Dr. Woody on Twitter and Facebook.

Last month we launched part one of our new eBook, “Your Job Search is a Bare Knuckle Fight. The FPC Recruiters’ Guide to Winning!” In it we shared tough advice about what it takes to get a job in this continuing difficult business climate.

The information in part one was intended to help you organize and implement an effective job search, the way we recruiters do it. And that’s much different than how outplacement services and job coaches tell you to go about it.

If you’ve read part one and taken it to heart, you’re well on your way to lining up some juicy interviews. That’s where part two of the Bare Knuckle Guide comes in. We believe that the interview advice most people get is way too soft and way too generalized.

As recruiters, we’re preparing candidates for interviews every day – and seeing the results of how those people actually handle themselves in the interview situation – for better or worse. We know what lands the job – and what lands you on the mat.

We’ve dug into our experience to share with you real world anecdotes about both successful and unsuccessful interview moves. Some come from interviewees. Some come from hiring managers. Some come from job search industry leaders.

Among many other important lessons, you’ll learn why:

• You must be respectful to every person you meet in the interview process regardless of their position
• The couch in the waiting area is off limits
• Showing off your knowledge of the company can work against you
• Your language must be very, very specific

Part two of the Bare Knuckle Guide also explains why you may need to act as your own recruiter and how to do for free what we do for a fee.

It’s hard enough to line up interviews for promising positions. Especially if you’re listening to and trying to follow the ‘rules’ we tell you about in part one – the ones that don’t work if you want to be employed.

When you finally do get a chance to sit down with a hiring manager at a company you really want to work for, you have to know how to assess whether the opportunity is as good as you think it is – and, if so, how to close the deal. This is particularly important for senior executives who have been out of work for six months or more and are stressing out about how to pay the bills and the kids’ college tuitions.

In writing this eBook, I put my heart into sharing some of the professional techniques that I and my fellow FPC recruiters use to help our job candidates build solid careers. It really kills me to see talented, experienced men and women going through long, painful periods of unemployment – especially when it’s unnecessary.

When we launched part one of the eBook last month, I said that the advice is blunt and that some of the activities won’t feel comfortable at first. But you owe it to yourself to push the limits a bit if it means getting back to work.

If you haven’t read part one yet, there will be opportunities when you download part two to get it. Look for links on the download page and also right within the part two pdf. We tried to have some fun in putting this eBook together with lots of boxing references and vintage images. It helps to smile when things are rough.

Enjoy both parts of the Bare Knuckle guide. Feel free to get in touch to let us know how it’s working for you. And if you start to think that this recruiter stuff might be fun as your next career, you’ll be right. It can also make you a darn good living – especially if you do it as the owner of an FPC Executive Recruiting franchise. It’s an incredible way to leverage your past experience and industry contacts, while taking control of your career at a time when corporate careers are increasingly risky.

Click the button below to get The Bare Knuckle Guide, Part Two.