Solo executive search in your own industry

Small and mid-sized employers that need a manager, director or specialist and lack the time or network to find them.

A placement fee, usually a percentage of the hired person's first-year salary, paid on success or in stages. Revenue comes in a few large payments, so many months may bring nothing and a good month may bring one or two fees.

• Deep knowledge of one industry
• Confident networking and cold outreach
• Judging candidates and handling confidential information

• Several provinces require a licence before you recruit for employers for a fee. For example, check Ontario's recruiter licence with the Ministry of Labour, Immigration, Training and Skills Development, and British Columbia's employment agency licence with the Employment Standards Branch. Other provinces, such as Alberta and Quebec, have their own agency or recruiter rules, so check with your provincial employment standards office whether executive search is covered and what applies before you start trading
• Recruiting in more than one province may mean checking the rules in each one
• Do not charge fees to job seekers unless your province clearly allows it
• Check the home-based business rules with your municipality
• Privacy rules for handling candidate data, including provincial law and PIPEDA
• Professional liability insurance, which is worth asking a broker about
• Income can be lumpy, so keep a cash buffer
• Non-solicitation clauses in your previous employment contracts

Estimates are typically around $2,000 to $10,000, depending on your home office setup, the tools you use to find and approach candidates, and what you need to get started. Professional liability insurance is worth asking a broker about.

Estimates suggest monthly revenue of typically around $2,000 to $10,000, depending on how many senior roles you fill and the fees you agree. Income can be lumpy, so it helps to keep a cash buffer.

Several provinces require a licence before you recruit for employers for a fee. Check Ontario's recruiter licence, British Columbia's employment agency licence, and the rules in Alberta, Quebec or any other province with its employment standards office. Do not charge job seekers unless your province clearly allows it.