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Staffing Company, welcome Tytus Walls1 of 1 people found this helpful
I also run a staffing company. You need a business plan.
My plan was to have the employees seek out contracts, So YES the employees came first (for me)
Good luck, LUCKIEST
I have a business plan, it's 26 pages. I'm working out the kinks with a SPARK professional. (kinda like SCORE)
But in my plan, I want to be clear about which comes first!
My problem I know up front is going to be funding. And since you have experience in this area, do you have any words of wisdom I should do to receive funding? I dont need alot, because I will be using SPARK to house my company in for as long as 2 years until the incubation period is over.
Also, what is general cost that you have run into regarding insurance cost, how much can i expect to pay for about 5-10 temp employees? (Workers comp, etc...)
Regarding funding - there are many options for you depending on the amount and purpose. But, having customers in hand can really help with all options - even if you can't yet fulfill the contracts.1 of 1 people found this helpful
Regarding insurance costs - that depends. It depends on your type and amount of coverage and all the riders you want to include. Your best bet is to call an insurance company and start getting quotes.
For employee costs (all costs) your state employement agency should be able to help you here to estimate wage costs and employment taxes.
Business Money Today
Having worked with a number of staffing agencies, I agree with Luckiest.
First, create a business plan based upon your UVP (unique Value Proposition - i.e. why customers will come to you instead of other staffing firms) and market research.
Second, I would gather a database of eligible workers based upon the roles and types of business you plan to service.
Third, seek out customers.
Remember, just because you've added an eligible worker to your database doesn't mean you've promised them work. However, if you contract with as business seeking staffing and are unable to find appropriate workers (or take a lengthy time), you will likely lose the client and not have another chance with them. When a customer pays you for their services, they want eligible workers immediately.
Hope this helps.
1 of 1 people found this helpful
Although unemployment rates are higher than they have been in years, that doesn't mean finding qualified, dependable staff will be easy! Take the time to find outstanding staff before you go out and find contracts! Remember people will say just about anything these days to get a job, that doesn't mean they are as good as they claim to be!
Take your time and thoroughly interview, test and check references! I have a friend that started a staffing company and really got burned because he didn't take the time to thoroughly test and check references before rushing to send people out to represent his company. Meeting the demads of contracts is a top priority, building your reputation requires that you have only top notch people doing the work!