Employment Agency Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Employment Agency Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start an Employment Agency business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be immediately emailed to you after you make your purchase.
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
Employment agencies have drastically changed their operations over the past two decades. As more companies seek to work with employees on a more temporary basis, they have turned to employment agencies in order to provide them with the human resources they need on a short-term as well as long-term basis. This trend is expected to continue given that the costs associated with hiring and keeping employees are extremely high. For many companies, it is far more economically viable to work with a number of shorter-term employees and independent contractors. As such, employment agencies are in substantial demand and will continue to be so in perpetuity. The barriers to entry for a new employment agency are considered moderate given that there is a number of licenses that need to be acquired in order to provide the services to the general public. It should be noted that many employment agencies are able to generate substantial secondary streams of revenue by providing job placement and resume services to potential employees.
The employment agency business plan, like any other capital raising document, should have a well-developed three-year profit and loss statement, cash flow analysis, balance sheet, business ratios page, and breakeven analysis. This business plan should document how any raise capital is going to be used during this timeframe. Most importantly, an employment agency needs to very carefully showcase its underlying expenses especially for temporary employees that are technically considered working for the company. Employment agencies have to follow very careful rules, laws, and regulations as to how they receive payment for employers and pay their underlying staff.
Employment agency marketing plan should focus substantially on two things. First, the employment agency needs to maintain ongoing relationships with large employers that have ongoing staffing needs. As such, it is important that these businesses frequently attend trade shows while concurrently maintaining a substantial online presence. Second, employment agency needs to have a tried-and-true method for making sure they have a large roster of employees that can fill temporary as well as permanent positions. Much like with sourcing companies that will work the employment agency, it is important that the management of the business frequently attend job fairs and related events in order to get as many resumes as possible from qualified candidates.
An employment agency SWOT analysis should also be developed in conjunction with the company’s business plan, marketing plan, and any other pertinent documentation. Relating to strengths, employment agencies are generally able to remain profitable in most economic climates especially when temporary labor is in strong demand. For weaknesses, these businesses have very large ongoing reporting requirements as well as very high operating and overhead costs. As it relates to opportunities, these businesses are frequently able to hire additional staff in order to increase the billing to the business. It should also be noted that one of the ways that employment agencies grow is by acting as an outsourced human resources department for many medium-size businesses that cannot afford to do this completely in-house. Finally, as it relates to threats – there are really no major threats outside of negative economic changes that would impact the weight of these businesses conduct their operations.
In closing, employment agency can be a great business to own and operate provided that it is located in a market that has continual needs for specialized and temporary labor. The gross margins are relatively high given the amount of revenue being generated and banks and lenders are generally very receptive to providing the necessary capital to get these businesses off the ground.