william davis

myrtle beach, SC (USA)
Role(s):
Founder/Owner/Principal

Source IT

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Location: myrtle beach
Industry: Staffing/Recruiting
Year Founded: 1999
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: Not Incorporated
Description: Goals of Business The business goal is to provide permanent placement of employees, primarily Information Technology employees to businesses throughout the U.S. The goal is to provide on average two placements every sixty (60) days initially and increase that as the business grows. The customers of our business are virtually every medium to large company in the U.S. In the majority of these companies they have at least some need of IT employees. Our niche market at present is the mid-range AS/400 computer IT departments found throughout the country. We also target IT infrastructure positions. These vacancies or open positions appear to be prevalent by searching the various boards, i.e. Monster, Career Builder, Dice, (URL removed), etc. A recent search on (URL removed) revealed approximately one thousand (1,000) open positions within a two hundred mile radius of Columbia, SC. A key employee, William Davis has twenty five years experience in IT and fifteen of those years as an IT Account Exec (recruiter) in the southeast. 　 Our intention is to file as an LLC in the near future and to move the business into an office in Conway, SC. We are operating at the present time and we have active contracts with four large corporations in the Carolinas. The contacts are with: AVX in Myrtle Beach, Carolinas Medical Center in Charlotte, NC, ESAB Corp. in Florence, SC, TCI Tires, a division of Michelin, in Duncan, SC, Cabella’s in Nebraska. The contracts with these five companies represent eight open positions. We have telephone interviews scheduled with all eight of those open positions. Each contract represents a fee of 20% of the first year’s salary for each position. That is an average of $16,000.00 per placement of each open position or a total work-in-progress figure of $128,000.00 at this time. We have only been open for business since October 12, 2008, one month. Historically, an experienced, well established account executive/recruiter will bill at least $30,000.00 per month. In that we have two Account Executives initially our projections are to generate about $60,000.00 per moth or $720,000.00 per year. A big advantage we have over our competition is strong knowledge of the IT industry in terms of technical understanding and years of experience in the IT recruitment field. Additionally we have many existing contacts with potential client companies. More, we are developing relationships with other recruiting agencies in the southeast area for the purpose of doing “split business”. Due to our low overhead we are able to reduce our fees by 5% below the current recruiting industry standard of 25% and thereby offer experienced, proven service at a lower cost to our client companies.