Expansion exceeds Expectations!
The new branch was expected to be profitable in year two, but has exceeded expectations, proving a huge success for the firm. The Leamington Spa office outperformed targets by a whopping 58% in year one.
When you are looking to launch a new business, you create a good business plan and conduct plenty of market research but when it comes to actually doing it, it’s difficult to 100% know what to expect, or predict exactly how it’s likely to turn out. This has certainly been true for recruitment company Expectations! Recruitment Services, who opened the Leamington Spa branch in February 2014.
It was the third for the company, who already have branches in Gloucester and Cheltenham, but this was the first outside of the Gloucestershire County, and saw the business enter a very different recruitment market.
After extensive research, the directors predicted a healthy, break-even year for the fledgling branch, expecting to service 25 regular customers and circa 50 ad hoc projects, and to grow from one to a maximum three staff in the first twelve months.
In fact, as they came to the end of their first twelve months in operation, the branch has delivered the most successful first year trading of all three branches, securing 50 regular local customers, almost half of which now work with Expectations! exclusively, and placing 58% more candidates than they expected the high demand has also been great news for their own employment, as the new branch ended their first twelve months with a team of six, and plans to employ an Apprentice too.
Victoria Maddock, managing director, Expectations! Recruitment Services says, “For us, Leamington Spa was a trial expansion out of the county and one which we couldn’t have done without firm roots in Gloucestershire! The business community here has been instrumental in supporting our expansion, and it is the unique marketplace we find ourselves in here that gave us the confidence to expand.
"We knew there was a gap in the market in Leamington Spa for the type and level of service that we offer, but none of our market research even hinted at this level of success! We are very proud of the team at Leamington, and their success is testament to the proactive and much-needed approach that the branch takes, under experienced manager Dawn Walker. To be able to say we’ve created six jobs in just twelve months is the icing on the cake for us!”