Patrice & Associates INFO
About Patrice & Associates
Patrice & Associates is a recruiting franchise that helps thousands of managerial and executive level candidates every year find rewarding jobs in the hospitality industry and beyond. With strong brand recognition, a flexible business model and a growing footprint, Patrice & Associates has established itself as a leading franchise opportunity in the staffing industry.
Today, with over 175 units in the U.S. and Canada, Patrice & Associates is the largest hospitality executive search firm in the country. In 2023, the franchise came in at No. 289 on Entrepreneur's Franchise 500 Rank.
Why Patrice & Associates? / Why Now?
The labor market has experienced a tectonic shift in the aftermath of the COVID-19 pandemic. An exodus of Baby Boomers retiring en masse, paired with a dwindling birth rate, has led to a significant labor shortage. The result is an environment where there are twice as many jobs as there are individuals available to fill them. It's undeniably a candidate-driven market. For businesses to stay competitive, establishing a robust connection with a recruiting firm is no longer a luxury — it's a necessity.
With its proven expertise in sourcing the cream-of-the-talent-crop in an exceedingly tight labor market, as well as its time-tested and well-positioned franchise model, Patrice & Associates is primed for exponential growth in the coming years.
To meet this increased demand for staffing assistance, Patrice & Associates is gearing up for major franchise expansion across the country. The team aims to onboard 40 new franchisees by the year's end. There has arguably never been a more opportune moment for entrepreneurs to join the Patrice & Associates family and take advantage of this extraordinary surge in staffing support demand.
What Sets Patrice & Associates Apart?
Patrice & Associates offers a unique franchise opportunity that is both flexible and affordable, allowing franchisees to operate from the comfort of their homes. The brand was recognized by Entrepreneur Magazine in 2023 as one of the Top 100 Brands for Less Than $100,000 Total Investment.
One of the distinguishing features of franchising with Patrice & Associates is their non-restrictive territorial model. As a franchisee, you are allocated a local area to set up your business, yet you are granted access to a nationwide database that houses over 650,000 candidates and more than 1,400 job listings. That said, each franchisee's territory is safeguarded; other franchisees are not allowed to specifically target your designated market.
However, your own business reach is not confined to your geographical allocation. You have the potential to onboard clients from anywhere in the world, given they are not already engaged with another recruiter and the connection is made through your network, referrals or typical business interactions. This effectively expands your client development possibilities across the entire U.S. It's important to note, however, that you're prohibited from directly targeting another franchisee's market.
When comparing Patrice & Associates to other players in the recruitment field, few can match their level of service. Franchisees can tailor a unique strategy for each client using the system provided by Patrice & Associates. This strategy can include targeted outreach to specific industries and geographical areas, cold calling to similar businesses to source top talent, and conducting thorough, behavior-based interviews and reference checks. Various channels are utilized to find job candidates, such as confidential cold calling, social media campaigns, anonymous advertisements in nationally recognized publications and the unique Patrice Way™ industry search.
For job seekers, Patrice & Associates franchisees offer comprehensive support that includes resume preparation, exclusive job openings, free interview coaching and assistance with final negotiations.
The $212 billion staffing industry was recently named one of the Top 10 Hottest Industries in 2023 by Entrepreneur Magazine. Why? Entrepreneurial opportunities in the recruiting and staffing industry are significantly growing in 2023 due to several notable reasons.
Firstly, the rise of remote work brought about by the global pandemic and the consequent shift towards a more flexible working model has necessitated an overhaul in recruitment processes. Traditional in-person interviews are becoming less common, and organizations are looking for innovative ways to attract, screen and onboard employees in a remote or hybrid environment. This paradigm shift in the hiring process is a lucrative opportunity for entrepreneurs who can create and provide solutions for these novel recruitment challenges.
Additionally, many sectors are facing a skills shortage. According to the latest Labor Department data, there were 10.5 million job openings, or roughly 1.7 vacancies, per available worker in the U.S. Entrepreneurs who join a franchise like Patrice & Associates can provide comprehensive recruiting solutions that also focus on continuous learning and development opportunities, creating a competitive advantage for their clients in a tight labor market. Thus, 2023 provides an exciting time for entrepreneurs to step into the recruiting and staffing industry, with ample opportunities to innovate, grow and contribute to reshaping the future of work.
Patrice & Associates offers a uniquely inclusive franchise model, where any entrepreneur who aligns with the brand's core values can find success. Ideal candidates are those seeking a venture that aligns with their lifestyle, wealth and income goals. Ultimately, the crucial trait is a passion for helping others advance in their careers.
To assist the transition from employee to business owner, Patrice & Associates has tailored a comprehensive training program for its franchisees. This involves an initial self-guided virtual training, followed by a two-week intensive training at the International Headquarters in Maryland. After this, there's a six-week program with bi-weekly classes and calls, coupled with 90 days of daily mentorship with a seasoned coach. With this thorough training process, franchisees can rest assured they'll be equipped with the necessary tools for success, regardless of their prior experience or background.
What Is the Investment & How Much Can I Make?
The total investment necessary to invest in a Patrice & Associates franchise is $90,050 – $92,750. This includes $82,000 that must be paid to the franchisor or affiliate.
According to the brand’s 2023 Item 19, which includes historical information from the 171 Patrice & Associates locations that were operating in the 2022 calendar year (FPR 2022 Units), the combined placement fees include paid, regular placement fees for client agreements, which ranged from $3,000 – $50,000 per hire. Executive search placements fees are a subset of the combined placement fees that involve placement of executive management personnel, which ranged from $7,500 – $50,000 per hire. ***
For more information, visit: https://patriceandassociatesfranchising.com/
***As noted in the Patrice Franchising, LLC March 31, 2023 Franchise Disclosure Document