At HR GO we believe that the individuals who progress through their personal business experience deserve to take charge of their own destiny. They can open their own successful businesses (Joint Ventures) with the backing of a multi-million pound recruitment group.
Jack Parkinson, Chairman of HR GO plc, strongly believes that recruitment joint ventures are a highly important factor that encourages entrepreneurial businesses success and development, throughout the company.
A fundamental cornerstone to the success of the HR GO group of companies has been the commitment to build recruitment joint venture operations with enthusiastic, motivated individuals who are successful in their own fields.
When Jack Parkinson joined the business in 1977 he immediately saw the opportunity to pioneer joint ventures as a way of growing the business while leaving entrepreneurial managers with an important share in the operation.
The first JV, Refrigeration Recruitment, was formed in 1977, capitalising on Jack’s own refrigeration and air conditioning expertise.
Jack’s dream of creating many millionaires was born there and then – and he has succeeded!
Joint Venture companies are independent corporate entities (limited companies) where the leaders/key players own part of the equity. The JV partners can concentrate on what they do best (winning and growing profitable business) while benefiting from a package that includes salary, profit share bonuses, dividends and capital growth as the value of their shares in the business grow, and the chance to benefit from growth initiatives in sister businesses.
If you join us as a JV partner we help you to maximise your time productively by providing all the advice and back office services needed by a successful business, including payroll, finance, marketing and IT. New joint venture businesses may also benefit from a share of existing large supply contracts.
In each arrangement HR GO plc retains a majority of the equity because this helps convince investors and 'The City' that the whole organisation is constructed in an appropriate, efficient and satisfactory manner.
We not only offer a unique opportunity for people with entrepreneurial capability and vision to start a business when Banks or Venture Capitalists may not be so supportive, but also an exit plan so that recruitment Joint Venture partners can really reap the rewards of their success.
Selling a business in the open market is often fraught with difficulties. Confidential data may be treated unprofessionally, key staff may be approached, buyers may be on missions other than purchase and valuations themselves are difficult. But selling in the context of HR GO plc when a Joint Venture partner wishes to reap the rewards of their endeavours is much easier and safer, as shares are valued and agreed and share sales may take place with close colleagues and friends already in the business on a pre-arranged basis.
A recruitment agency that is part of a plc is generally valued at a higher price than a private company.
Following an initial review of your skills, experience and ambitions we will invite you to meet with Jack Parkinson to discuss if becoming a Joint Venture Partner is right for you.
If you are interested in and would like, in total confidence, more details on establishing a Joint Venture company get in contact today.
Human Engineering, with the strong support of HR GO plc, grew quickly into one of the largest human factors consultancies in the UK and Australia. Human factors are the term used for the application of human physiology and psychology to the design of products and systems to attain safety and usability. The work comprised physical ergonomics, cognitive ergonomics and socio-technical issues.
Over time the company grew to around 50 technical staff and also opened a very successful subsidiary company in Australia and was providing human factors consulting services across most safety critical sectors including rail and road transportation; health services and medical devices; oil, gas and process control; airports and air traffic control; power generation and distribution, defence and marine sectors.
While the Joint Venture partners had enjoyed the growing rewards of salary, profit share bonuses and dividends they reached a stage where they wished to secure the capital growth they, with the support of HR GO plc had generated. As a result and with the full support of HR GO plc they talked to a number of interested parties and concluded a sale agreement.
The trade sale was completed in July 2008, some 13 years after the Joint Venture was established. The agreed sale price was almost £5 million with HR GO plc receiving £2.5 million and the four Joint Venture partners receiving between them almost £2.5 million. This was a very happy conclusion for all parties.
The business is a typical ‘High Street’ recruitment business placing permanent and temporary workers in a wide range of roles in most sectors of the economy in a 3,500 square kilometre region of the UK. The company has grown from nothing to over £7 million sales per annum and is one of HR GO Group’s many successful joint venture companies.
Much of this success has been down to the managing director and senior joint venture partner who has led sales development and has established a strong and stable team of top performers. Free from the day-to-day administration, provided by HR GO plc, the team have concentrated on providing clients with consistently high standards of service, speedy responses and a very competitive package of solutions to all staffing matters.
The success may be summed up in many ways but a couple of key financial measures indicate the real value of our recruitment joint venture partnerships. In addition to good salaries and profit sharing plans the joint venture partners have earned dividends from their equity ownership.
It all depends! We operate a range of different models depending on the specifics of each opportunity, some of which will require investment from the JV partner.
If the proposition is strong we are willing to discuss different funding options. Just bring us your ideas – backed up by your experience and commitment and we can talk!
Everything you need to set up and run a successful business, including:
Not having to worry about setting up these services yourself means you can get up and running more quickly, more cheaply, and concentrate on what you do best – providing a service to clients.
Not at all.There is greater flexibility and autonomy because you are not obliged to buy everything from one supplier, although we offer common services such as payroll, IT, marketing and other business support services for a nominal management fee.
We share in the profits with you – a franchise will typically take a share of the revenue even if there is no profit.
Most importantly we do not interfere in a JV – unless essential. We don’t want to make your decisions for you, we trust you to know your market.