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Apr 26, 2016 8:57 EST

FindersFee’s unique approach is to find the right candidates to the right jobs in a short amount of time

iCrowdNewswire - Apr 26, 2016

FindersFee

Main photo

Elevator pitch

FindersFee’s unique approach is to find the right candidates to the right jobs in a short amount of time by a recommendation and a reward-based recruitment process. We have a unique application with more than 1600 finders that helps us find candidates that are not actively seeking new jobs. FindersFee started in 2007 as a recruitment company and developed procedures and business support systems 2014/2015 making it available for franchising. We have a franchise in Malmö, Sweden that made 30 successful new recruitments last year.

Investor proposal

Why FindersFee
  • Unique concept for finding right candidate.
  • Unique application for Finders.
  • Proven concept since 2007.
  • The concept is ready for franchising in Sweden and Europe.
Price per share: 113 SEK
Shares Offered: 17 650
Issue Amount: 1 994 450 SEK
Exit
Takeover candidates from large Swedish companies in the industry who want to have access to this unique concept, application and franchise.

Idea

The problem this product solves

It has become more difficult to find the right candidates for recruitment in modern times. Half of all Swedes are willing to change jobs, but they are not actively looking. Our process based on reward and recommendation recruitment means that we find the right candidates faster.
Reality is that 8 out of 10 companies are currently using informal contacts and networks when recruiting.
We work with already existing networks when we recruit.
In Sweden there are currently no companies that provide this solution.

How the product solves it

We have developed our recruitment process to ensure quality and also increase the pace for a more efficient process. Usually we present the candidates within 30 days. We do this by using technology with a human review. FindersFee is unique because it is based on high quality, efficient processes with a larger and deeper range than the regular market can offer. As an incentive to our finders we pay a FindersFee (reward) for a successful recruitment. Our candidates are matched to an appropriate assignment, our finders receive a FindersFee for their dedication and our clients get a unique candidate. 4Win/Win.

Product

Product features

Today we have 1 600 Finders (looking at 35 000 Finders by 2020) in our proprietary application that work as our searchers. They recommend candidates who are currently not actively seeking a new job.
FindersFee started in 2007 as a recruitment company and we have developed a new procedures and business support systems that we launched in 2014/2015 making it available for franchising.
Our franchise is based on a long-term investment so that the franchisee will get a safe and stable foundation to work from for their company. The goal is to create profitable and competitive local businesses.

Product use cases

Our success stems from using three different ways to find candidates; through job advertisements, through research and through the use of our finders. These finders recommend candidates from their networks.  Today we have over 1600 researchers who can vouch for their contacts and candidates.
Another success factor is our extensive 15 years of experience in recruitment, something that makes us quickly familiar with the positions and the companies we work with. This in turn enables us to find the right person who will not only be suitable for the position, but also meet the client’s expectations.

Market

Target Market

FindersFee’s customers are based in private companies and municipal based companies in all sectors with a turnover of at least SEK 50 million / year.
Our work is primarily within the recruitment of managers and specialist services, with a minimum monthly salary of SEK 35 000 or more.
In Sweden there are about 19 500 businesses and municipal companies with a turnover of more than SEK 50 million / year. The Swedish recruitment market turnover is about 2-3 billion / year.

Competitive landscape

Today we don´t really have any competitors in this sector that do the same as us. The competitors that are on the market doesn´t only make recruitment they also work whit staffing.
Examples of these are:
  • Wise Group
  • Manpower Experis
  • Monster Sverige
  • Assessio
  • Startkraft
  • Alumni AB

Unique differentiator from competitors

FindersFee is unique because we find the right candidates to the right assignments in a short amount of time by recommendation and reward-based recruitment.
In the following lists, you will find a summary of the past seven years’ recruitment assignments for clients that have become our business partners.
  • IKEA Sweden
  • Axis Communications
  • Alfa Laval
  • BorgWarner
  • ABB
  • Duni
  • Securitas
  • Findus
  • Cloetta
  • Resurs Bank
Positions Filled:
  • CEO in an upcoming sector with technical focus
  • COO/CFO
  • Online Sales & Marketing Manager
  • HR Manager
  • Systems Developer SAP WM
  • .NET Expert / Software Architect

Business Model

Company revenue streams

A Franchisee earns capital by recruiting personnel that they receive through traditional customer processing and contacts. We usually figure out recruitment revenue by the hypothetical salary times a factor of between 2.5 and 3.5. Which is an average of 108 000 SEK. (The hypothetical salary 40 000 SEK times a factor of 2,7 = 108 000 SEK for this recruitment).
In our calculation, we expect that a franchisee should make 11 recruits in year 1 with a profit margin of 9% the first year and 15 recruits year 2 to reach a 28% in the second year.

Product/service distribution

Product/service distribution
We want to build a franchise that will be accessible and avaliable in the whole of Sweden. FindersFee goal is to establish 1-3 units per period:
2016 to establish 6 units
2017 to establish 8 + 1 units
2018 to establish 10 + 1 units
2019 to establish 0 + 3 units
2020 to establish 0 + 5 units
Each franchisee is assigned a primary field and possibly a secondary area where they will be working the market. Each area has about 600-700 potential customers with a turnover of at least SEK 50 million / year.

Execution

Previous milestones/traction

Our franchisees in Malmö make 30 new recruitments in a year and have an turnover of approximately SEK 3.2 million and has a profit margin of about 10%.
FindersFee Sweden AB makes money by an entrance fee of SEK 125 000 to each franchisee and 15% for invoicing sales.

Next key objectives

Project plan:
  • Develop a new application or adapt existing solutions.
  • Recruit a new establishing employee before the holiday in 2016, the goal for the employee is to find and recruit new franchises.
  • Establish FindersFee in Norway in 2017, have 10 FT 2020.
  • Continue marketing FindersFee in Sweden and Norway.
FindersFee goal is to establish 1-3 units per period:
Our ambition is to have offices located at 25 cities in Sweden and 10 offices in Norway by 2020.

Industry Recognition

Industry Certification/Awards

The Owner Michael Gross was awarded with “Entrepreneur of the year 2015” in Västervik, Sweden.
Exit
Takeover candidates from large Swedish companies in the industry, who want to have access to this unique concept, application and franchise
Contact Information:

Niclas Rehnqvist

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