Boutique headhunting firm with a small team

Regional and national employers, boards and private-equity-backed companies hiring directors, executives and specialist leaders.

Retained or staged fees per search, often a percentage of first-year pay. A team can handle more searches at once, but you cover wages and rent before fees arrive.

• Business development and client relationships
• Managing a small team
• Assessing leadership candidates and advising clients

• Check whether your province requires an employment agency licence or has rules on placement fees
• Commercial general liability and professional liability insurance
• WCB or WSIB coverage and employment standards once you hire, which vary by province
• Privacy law on candidate information, including PIPEDA and provincial rules
• Long gaps between starting a search and getting paid, so plan your cash flow
• Quebec has French-language requirements for business and hiring communications

Startup costs are typically around $10,000 to $50,000, depending on your office or workspace, team and tools. These are estimates only, so budget for insurance, premises and the months before your first search fee arrives.

Monthly revenue is typically around $6,000 to $30,000, depending on how many searches you win and the size of your team. It is an estimate, and there can be long gaps between starting a search and getting paid.

Check whether your province requires an employment agency licence or has rules on placement fees. Also check privacy law on candidate information (PIPEDA and provincial rules), insurance, WCB or WSIB and employment standards when you hire, and Quebec's French-language requirements.