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Starting a staffing agency is a small business move in the current economic climate. Job creation is on the up, and you could find yourself riding the crest of an economic wave, with all the success that comes with that.
But before you get going, get organized. Find out what should be top of your agenda when you are setting up the best staffing agency.
Here is a brief guide to launching a new staffing agency and what you need to know to make it a stunning success.
Choose Your Niche
You’ll find it easier to launch a new business when you focus on a single specialist field. Here are the most common niches for staffing agencies:
- Clerical, admin, office, personal assistants
- Industrial, factory
- Other professional fields
You don’t have to choose a type of staffing area as your specialism. You could select an industry to specialize in or even a geographical area.
Hire the Best Recruiters
Picking the right talent for your team is a must if you want rapid business growth.
Start with an attractive remuneration package that will entice the most talented recruiters away from your competitors.
Think beyond salary. Many professionals are equally attracted by bonuses, additional paid vacation, health benefits, and flexible hours.
When you start from scratch without a reputation behind you, you’ve got to work hard to get your business known.
So start networking. It’s a great way to talk to other business owners and show what your staffing agency can offer them.
Book as many local events as possible, and bring along your top recruiters too so people can get to know your team.
Agree on a Setup Budget
Robust cash flow will help keep your business afloat in those challenging early days, and one thing you can do to help starts with a sensible, small setup budget.
Here are some costs you’ll need to include in your startup budget:
- Website build
- Office space
- IT equipment and phones
- Software, including accounting and payroll
- Legal logistics and associated costs
Think about any payments you can delay for a few months, at least until you sign your first client contracts. That will give you a financial cushion that might come in handy.
Get Organized With Payroll
You want to get payroll right from day one. Missing payments or incorrect tax calculations not only cause a burden for a small business owner but can also disrupt your staff.
Consider hiring an outside payroll service to manage this area of your business so that you can focus on other priorities during your busy startup phase. If you are worried about cash flow, consider payroll funding.
Don’t Forget About Legal Considerations
Make sure your startup meets all legal requirements when forming your business. You’ll need to determine your preferred business structure (sole proprietor, partnership, limited liability, or corporation).
You’ll also need to register your business name. You might also need to check with your local state to see if you need any special licensing or permits to operate as a staffing agency in your niche.
Launch the Best Staffing Agency
Getting organized now means you can launch the best staffing agency in your niche. That gives you every opportunity to find success in this field and create a business that will fill you with pride.
Don’t forget that effective promotion can make or break a new business, so before you go, check out our marketing section now for our best advice.