This is the fifth and final post in our series about the career path that led some top executives into franchise ownership. These owners are part of our FPC executive recruiting franchise network, but their stories have broad application for others seeking a new direction.
What motivated these owners to consider leaving the corporate world? What options did they explore? Why was franchising appealing? How did they choose a franchise company?
This week we profile a very successful owner who took an indirect path to ownership.
Meet Randy Cagan
Randy Cagan joined FPC of Raleigh (North Carolina) in 1986 as a recruiter. The office had been established by longtime owners Rick and Stan Deckelbaum. Today Randy and his partner David Singer own the business, which they bought in 2002. The business employs 12 recruiters and is the top-producing office in the FPC network. Here’s the story of his recruiting and franchise success.
Randy began his career in sales and marketing in the pharmaceuticals and medical device industry. “After several successful years of outside sales and product management I was fortunate enough to be introduced to the owners of the Raleigh office,” he said. “It was this introduction that changed the course of my career. I learned what it takes to succeed and saw the potential in recruiting as a career for myself.
“I wanted an opportunity that gave me control of my own destiny and that had unlimited earnings potential. I also saw that it could create a career path to running my own business one day. I really liked sales so it made even greater sense to me to work with Stan and Rick, who were glad to have expertise in pharma and medical device manufacturing.”
The Road to Success
Like 85 percent of all FPC owners and many FPC recruiters, Randy started from scratch with no recruiting experience. He went through FPC’s recruiter training and was under the wing of experienced colleagues who helped shorten his learning curve.
“I joined a successful office with two successful owners, so I had some almost immediate wins. It took three-to-six months to get started and about a year to hit my stride. Of course there were some bumps along the way, but hey, this is a marathon, not a sprint, so I pushed forward building a book of business.
“I was making a good income but, in truth, it took a few years until I became a really proficient top producer. What do they say? It takes 10,000 hours of practice to become an expert in any field.”
According to Randy, everyone has the same opportunity as he did, but you have to have the legs and the staying power. It takes a strong work ethic and a commitment to putting in the time.
“Once I got into recruiting, I never looked at anything else. David and I are succeeding by hiring, training and retaining top recruiters and providing them a career path in the business, just like we had. Our plan is to grow organically by partnering in additional offices with our recruiters who want an opportunity for ownership.”
Why He Loves Recruiting
There are both tangible and intangible reasons why Randy Cagan is passionate about executive recruiting.
“First of all I love the challenge. Finding opportunities, building credibility with companies and job candidates, making the right matches – for both our clients and our own business – dealing with changes in the economy and where the jobs are.
“Successful recruiting is financially rewarding to be sure. But it’s as important that what we do makes a positive impact. Sometimes I look back at 25-year business relationships I’ve developed and it feels great to have been part of building someone’s career. For example, in 1987 I placed someone in a $25k entry-level job and have worked with him over the years. Today he’s a senior VP at a very large firm earning more than $500k.
“I also love watching the success of the recruiters in our office, and I enjoy the freedom and flexibility that recruiting and franchise ownership provide. I like controlling my lifestyle. I have no business travel and I have the time to work out and be with my family.”
How FPC Contributes
Even after many years of recruiting and franchise ownership, FPC of Raleigh uses the services of the corporate office in New York City every day.
“FPC has great brand recognition and an excellent reputation. We use the national office regularly for help hiring and training recruiters. We encourage our recruiters to take advantage of their expertise and support in day-to-day situations – whether it’s advice in negotiating a placement or to help boost them out of a slump.
“With FPC we get a training and recruiting system that is consistent and repeatable. If you follow the system and call on the national office regularly – which is what you pay royalties for – you can succeed. The sky’s the limit!”
If you’d like more information about franchises, recruiting and FPC, you can download a free recording of our popular webinar, “A Great Career Opportunity You May Never Have Considered.”