If you are looking for a sample staffing agency business plan template, here is a business plan for starting a medical or non-medical staffing firm and free feasibility study to use.
There are several service industry businesses you can start if you have the skill.
However the purpose of this article is not to dwell on the many available opportunities. We seek to focus on one; a staffing agency business.
In this article, we will provide a staffing agency business plan sample. This is targeted at aspiring entrepreneurs who are interested in this area of business. All you need to do is follow to the end to have a better understanding of how plans are written.
STAFFING AGENCY BUSINESS PLAN SAMPLE PDF / DOC
You can consider this a guide or template against which you can make comparisons when writing your plan. It must be stated that no matter how useful you find this sample, it will be of little value to you if you have not done a proper feasibility study of your business.
- Executive Summary
Corporate Resource LLC is a company located Atlanta, Georgia. We are a staffing agency that provides businesses and corporate entities with manpower. We offer consulting and training, therefore helping businesses find suitably qualified workforce. Whatever the staffing needs of our clients, we are up to the task.
We will offer consultancy services for highly skilled, semi-skilled and unskilled labor. We seek to offer the best solutions to our esteemed clients. We understand that our clients do not have the luxury of time to get into the nitty-gritty of staff employment.
We handle the difficult aspect of the job by identifying and categorizing our human resource pool. These are provided with added job specific training to increase efficiency. To enable us get the job done are highly experienced personnel with many years of experience as recruiters. Our clients will include both domestic and foreign corporate entities.
- Products and Services
Consulting entails a whole lot of processes aimed at matching vacancies with the right type of people. In view of this, our staffing agency will be involved in staffing for all types of businesses and industries. These include the provision of staffing for the health care sector, the oil and gas, provision of training services for certain positions and the provision of temporary or contract-based staffing services.
- Vision Statement
Having the right crop of staff is important to any business. We understand this and are fully equipped to providing such services to our clients. We are focused on eliminating the difficulties faced by businesses in getting the right type of labor. This will enable them concentrate on the task of running their businesses efficiently while we get the job done.
- Mission Statement
Our staffing agency seeks to provide highly professional services which will be second to none in the industry. Our reputation means the world to us. Hence we are committed to building a reputation hinged on excellence. This will be achieved by performing beyond our clients expectations.
We will need adequate financing to ensure a smooth take-off. We have done the necessary analysis on capital required; this is in excess of $800,000.00. We will be applying for a $1,200,000.00 bank credit. We are hoping to obtain such loans at single digit interest rates. However, our negotiations will determine the final outcome.
- SWOT Analysis
For a smooth take-off of our staffing agency, we have conducted an analysis of our state of competitiveness. This focuses on vital areas that include our strengths, weaknesses, opportunities and threats. The following are results obtained;
We have been careful in choosing our staff. As a staffing agency business that seeks to make a positive impression, we have sought to become an example of the services we will offer. We have selected professionals with the right experience. Some of these have served in major staffing agencies as recruiters, while others have the skill required.
These will work in various capacities that include our recruiting department, training, marketing, and customer service providers among others.
We are a new entrant into the industry. This means that it will take some time before we begin to attract clients and build a steady flow of clientele.
In addition to the provision of staffing services to businesses, we have included trainings. This gives us the opportunity to work closely with businesses to provide the right type of training. By outsourcing their training, our clients are able to focus on their business by allowing us handle one of the most difficult aspects of hiring.
Competitors are a steady threat to this type of business. These are made up of other staffing agencies which will compete for our clients. Another threat is in the form of unfavorable government policies. Such situations are harmful to doing business. Biggest threat among these is a global economic meltdown.
This will lead to businesses shedding off their workforce thereby creating an unfavorable employment climate. This will have a direct impact on our business as businesses will no longer be looking to hire, but to survive.
- Sales Projection
Over the years, economic growth in the United States has influenced a rising employment rate. This is good for staffing agency businesses like ours. Using this, we have done a sales projection for our business. This has revealed a positive outcome over a 3-year period as shown below;
- First Financial Year $310,000.00
- Second Financial Year $500,000.00
- Third Financial Year $855,000.00
- Competitive Advantage
We welcome competition as it enables us innovate on better ways of serving our clients. Our pride lies in the quality of our management staff. These are composed of thoroughbred professionals who have contributed in no small measure to making the employment industry what is presently is. Their impressive experience puts us at greater advantage in excelling over our peers.
- Target Market
In providing high value staffing services, we have identified several businesses and industries as potential targets. These include the public sector, blue chip companies, the real estate sector, financial institutions, the manufacturing industry, health care industry, small start-ups, and the educational sector among others.
- Marketing and Sales Strategies
As a new staffing agency business, marketing is crucial to attracting a steady stream of clients. We are adopting a number of effective marketing strategies. These include placement of ads in newspapers and business magazines, bidding for all types of staffing agency contracts, using the internet in making our business more visible and providing staffing services for all categories of businesses.
This staffing agency business plan sample has been written with the aspiring entrepreneur in mind. You are able to go through its content and get a greater understanding of how your plan should be organized. We have summarized this to allow you grasp its general structure in the shortest time possible.
Interested in small staffing business ideas? If YES, here is how to start a staffing service business with no money and no experience. How much does it cost to start up?
How to Start an Employment Agency Business
Thousands of job seekers stream aimlessly to different offices and business settings just to find a place to work. How do you think such ones will feel if you’re doing the work of matching them to their preferred work? Staffing agency is all about doing the survey for them and matching employees to employers. This is easier said than done.
In this article, I present to you all that is needed to start a staffing agency, and at the end, you should be equipped enough to start your own staffing agency.
Step 1: Determine the Type of Staffing Agency you Want to Open
The first thing to do while starting a staffing agency is to decide which type of staffing agency you want to work on. You have the luxury of opening a staffing agency that deals with just a particular industry, maybe the medical industry, music industry, education sector etc.
While some staffing agencies are age-dependent (Open to people of certain ages alone), and you may decide to open a staffing agency that is open to all who are ready to join no matter the age or industry they are interested in.
Step 2: Register your Business
For employees and employers to agree that your business is legal or that you are a valid business setting, you need to have registered your business with the required agency. Registering your business will help you become informed about all that is needed to run a successful business.
Depending on your location or where you reside, there are many companies that offer registration of business. So find a reputable company and register your business, it is very essential.
Step 3: Get a Staffing Business Plan
To set up and run a successful business, one needs to get a well-scripted business plan. A business plan will help a staffing agency know what they will need to survive in the business.
The plan will clearly state their unique business name also called a niche, their mission and visions, it will contain their financial plans, the services they want to render, the SWOT analysis. A good business plan will give dimension and help your business have a clear purpose.
Step 4: Raise Fund to Start the Business
No business will function well without having enough money to start it, for a staffing agency the same thing applies. You need to get funds that will be used for starting the business.
These funds will be used in securing space, you need funds to get insurance, getting office equipment and for job survey to be run by the industry. What if the industry you link your applicant to end up paying late? You may need to cover up them. You need funds to get insurance amongst other.
Step 5: Get a Lawyer or Legal Practitioner
Situations might arise where applicants might need to be cautioned, in this situation a lawyer will be the best person to accomplish this. There must be terms and conditions, right and responsibilities that applicants must fulfill so far you will be getting them their required job, to prevent story that touch or cases of not honoring agreements you need a legal practitioner to make everything official and valid under the law.
Step 6: Finding Location and Employing Best Marketing Strategy
To run a successful business two things must be done properly. One of them is getting a good location to cite your business and employing the best sales and marketing strategy. Your location will help people discover you since your business isn’t for you and your family alone; you need to let both employees and employers know that you exist.
You also need to employ the best sales and marketing strategy. In fact, some consider this to be the most important thing to do when starting a business, inform as many as you can about the business starting from the industry, to the internet and to every household, they need to be aware.
Step 7: Secure Insurance
A reasonable level of insurance in need for your business to be termed original. Most clients will want to be assured that there is a measure of insurance in case one of your clients damages their properties while on site.
So getting an insurance company that understands your business and ready to offer help in covering those expenses incurred by your clients at any time is very important.
Step 8: Setup Payroll Processing System
Having filled an order, you need to plan how you will pay your employees, weekly, semi-weekly or monthly. There are rules guiding the payroll system that you must understand as long as you want to be successful in the business, these may include plans for overtime payment, vacation pay amongst other payments.
You need to also sort out their taxes and remit it to the required governmental body or agencies. Most time hiring payroll administrator personnel is the best option.
Step 9: Start Your Business
Having done all the above, it is time for you to start the business, by now you must have secured a good location, you must have purchased all the needed tools and equipment for the office, at least the basic. Your business must be registered at this point and all financial calculation must also be done and ready for carrying out.
Starting a staffing agency is just as easy as starting any business when you get those points right, and if only you wish to become successful in the field, but failure to understand and adopt those points might be catastrophic.