Staffing
Agency Niche Sectors
There are hundreds of niche areas to concentrate your
search. You could decide to cater to professionals in any industry. The good
part is that you are providing a valuable service to both unemployed
individuals and companies.
Common sectors include teaching, financial sector,
security, healthcare professional and janitorial sector. Others include
mechanical engineering, structural professionals, accounting and secretarial
services.
- Teaching
- financial sector
- security
- healthcare
- janitorial sector
- mechanical engineering
- structural engineers
- accounting
- secretarial services
Things
to Consider Before Starting a Staffing Agency
There are a few things to consider before starting a
staffing agency. The sector is a billion dollar industry and you could make
huge earning.
The success of the enterprise depends on your ability to
provide proper placement to the unemployed. You need a dedicated office,
company registration, watertight contracts and proper data management.
- Low Startup Capital
- Company Registration
- Write a Contract
- Proper Data Management
- Networking
- Advetising
Who
Can Start a Staffing Business?
You don’t need any particular skill except proper
management and networking skill. The business requires serious investment in
networking and time management. You need good interpersonal skill, few workers
and dedicated office.
To gain experience you could join a staffing industry to
study their business structure. Other ways are through seminars, books, online
resources or tutorials.
The
Staffing Agency Job Description
The job description involves scheduling appointments,
interviews and handling correspondence. Others include finding qualified
individuals looking for jobs.
The agency is predominantly the middleman between the unemployed
professional and company. Apart from proper data management, you need to check
the qualifications and referrals of candidate. The reputation of your agency is
very important and misrepresentation could cost your business dearly.
How
to Start a Staffing Agency
Legalities
To start a staffing agency there are a few legalities.
You need the services of a lawyer to draft an employee agreement contract.
The contract specifies terms of service such as percent
payable for each successful placement. Within the contract include sign up fees
and other legalities.
The employment agency should be registered as a limited
liability company. Other requirements are tax identification number and
Liability insurance. Make sure the
sector you operate reflects in your choice of business name.
Funding
The amount of money you need develops on the scope of
your operation. You need an office, equipment s and serious networking with
companies. Make sure you have a good financial plan, profit, loss account and
goals.
Things to consider while sourcing for funds are cost of
rent, office equipment, staffing, utilities and phone bills. Factor the fixed
and working capital to establish actual startup costs. The good news is the low
startup cost and overhead.
Equipment
Apart from office equipment like chairs, table you need a
way to collate inventory. Purchase a computer, printer, fax machine and
dedicated phone.
You need good software for your data base of
professionals. Don’t forget office supplies, mode of transportation and
branding.
Charges
and Branding
The industry you operate should be reflected in your logo
or business name. You could focus on a niche sector or provide broad based
services.
Your agency could charge from 10%-20% based on the total
annual salary of the individual. The receivership period depends on your
contractual agreement with the professional.
Some agencies might ask for a registration and placement
fee. To stay competitive you need to find out what is obtainable in your
locality.
Marketing
To run a successful staffing agency you need lots of
unemployed professionals and companies. Your core business is to match the unemployed
individuals to companies. Possible clients are manufacturing companies,
shipping companies, wholesale/retail, and State/Government offices.
To enlist unemployed professionals you need proper
advertisement. The advertisement campaign should target both unemployed and
companies.
Network through word of mouth, social media or attend
business conferences. Use print media such as flyers, posters, banners and
stickers.
Advertise on the radio, television and online. Make sure
your company is listed in yellow pages or directories. Another effective
measure is through newspaper publications.
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