Start a boutique executive search firm

Medium-sized employers, not-for-profits and private companies hiring directors, managers and specialists.

Retained or staged fees for each search, often split into instalments at set stages, with a final part on placement.

• Business development and selling
• Managing a small team
• Assessing senior candidates
• Handling client relationships

• Workers compensation and payroll obligations once you hire, check your state scheme
• Public liability and professional indemnity insurance
• Check whether your state has recruitment or labour hire licensing that applies to your work
• Privacy and data security for candidate records
• Cash flow while searches are in progress, keep a buffer for slow months

Estimates suggest startup costs typically around $8,000 to $35,000, depending on office space, technology and how much you set aside as a cash buffer. Searches take time to pay, so it is worth keeping a buffer for slow months.

Estimated monthly revenue is typically around $5,000 to $25,000, depending on how many searches you run at once and the seniority of the roles. Revenue can be uneven while searches are in progress, so keep a buffer for slow months.

Check workers compensation and payroll obligations once you hire, as they depend on your state scheme. Also check whether recruitment or labour hire licensing applies to your work, your public liability and professional indemnity insurance, and privacy and data security for candidate records.