Our client are a 40 year established private company who are focused typically on sourcing transactions from £1m to £20m in size across a wide variety of assets.
They fund transactions via a panel of tier 1 and tier 1.5 funders often on a receivables basis. They are more than simply a money over money financier as their length of time in business and asset class experience gives them the confidence and ability to take own book residual value investment positions.
We have placed staff with them before but our last placement, although very experienced , technically skilled and well connected transpired not to be a genuine business developer , and although they achieved a degree of success they left the business after 20 months to take a role outside of the industry.
For their replacement our client are not seeking such an experienced individual but are seeking much more of a genuine business developer.
Given a balance of business development skills V technical skills they are happy to hire someone with a bias more towards business development as there is an abundance of resource across the business to close any gaps in structuring, documentation or product knowledge.
Typically historically deal sizes have been from £1m+ and usually margins of 1.0% are achieved on these, but as you would expect margins are squeezed on larger deal sizes and non engagement fees are rarely available. As a consequence there is now a willingness to look at deals from £250,000 where margins are known to be higher providing there is the potential to write larger volumes in the longer term.
The hiring director, for whom we have found staff in other environments and indeed placed in their own career is acutely aware of the competition in the market for new business hunters. As a consequence we have a mandate to attract interest from wherever in the UK.
Our client are head quartered in London and thus occasional travel once established to London would be part of the role but to be clear if you are not London located this role will be one that is contractually home based where you will be equipped with remote access.
To apply you must be not only experienced in mid ticket asset finance but you must also be a consummate networker leveraging opportunities from across your own network but also across professional introducers , OEM’s , plus you will have the ability to cold call , set marketing campaigns etc.
Crucially we seek a genuine new business hunter who has a real desire for high earnings and to be part of a small team but does not want to go to the hassle of setting up their own lease brokerage but desires the same earnings.
Our client are willing to pay a salary of up to £60,000 for the right person and to offer a pay plan that once you have generated £100,000 of gross profit you will keep 30% of anything above.
We are confident we can convince our client to pay this 30% on a quarterly basis and to make earnings uncapped – why would they not want to do this when they keep 70% will be our candid message to them !
There are no other benefits other than the government required pension c3% so see this an opportunity for high earnings not one of a plethora of benefits.
Realistically, year one we would expect earnings of > £90,000 assuming you can do £200,000 of GP , year two , well , how good are you and how driven are you ?
You can do the maths write £400,000 of GP you will make £180,000 , how does that sound ?
One final point as our client typically funds deals with funders they are subject to refunding commissions paid if a deal goes wrong, typically on a 1/12 per month basis , if deals you introduce go bad you will share in the pain as they will – the maxim is don’t introduce deals that go wrong and you will never be setting off commission earned against commission refunds for bad deals.