Starting a Temporary Staffing Agency – Sample Business Plan Template
1. Figure out what type of staffing agency you want to open
Your first step towards starting a successful temporary staffing agency is to determine the type of staffing agency you will operate.
Will your agency cater only to particular industries or to a wide range of industries? Will it cater only to certain job applicants or to a wide range of job applicants? Answering these questions will help you know what to put in place and what to focus on.
2. Write a business plan
Writing a business plan for your temporary staffing agency will help you gather your thoughts and ideas together and help you figure out whether there is a market in your locality for your temporary staffing agency.
In addition, a business plan will help you understand what you need to get started in terms of money, effort, and time. Beyond the startup phase, a business plan also guides you on how to run your business, grow it, and achieve your set goals.
3. Register your business
Find a good name for your business. You will need a name that is unique, memorable, and brandable. If possible, choose a name that reflects what your business is about. And if you are targeting a specific industry, add something about that industry into your business name—only if that won’t result in a messy name.
To register your business, you may need to visit your local business registration agency, pay the required fees, and fulfill all other business registration requirements.
4. Obtain necessary licenses and permits
Starting a business typically requires obtaining certain government-issued licenses and permits. These documents and the procedures for obtaining them vary by state and country. If you need more information on the requirements that apply in your state or country, then contact the appropriate local agencies.
Obtaining the necessary licenses and permits, aside keeping you from running into serious problems, boosts customers’ trust in your business.
5. Purchase liability insurance
You will be liable if a temporary staff you match with an employer gets hurt on the job, makes a mistake, or fails to do his or her job as expected by the employer. And chances are that claims might be made against you. Securing business insurance is a smart way to protect yourself and your business against liability claims from your clients and employees.
6. Set up your payroll system
Staffing agencies pay their temporary staff weekly. So, there is a need for a frequent payroll system. To ease the task of handling the payroll, you can either purchase payroll software or outsource to payroll services. Outsourcing will help you get the job done perfectly while you focus on more important aspects of your business.
7. Find a good location
If you intend to have staff and a place where clients and job seekers can visit you in person, then you will need to rent office space. Factor in parking space and other important factors when choosing a location for your business.
8. Hire required staff
If you plan to start a temporary staffing agency that goes beyond a one-person operation, you will need to hire sales and recruiting staff. Both recruiting and selling to clients involves good sales client. So, you need to hire individuals with a solid background in staffing or the specific industries you want to serve.
9. Market your business
Your marketing efforts will be directed at both companies who need temporary staff and job seekers. Contact companies and introduce your business to them through cold calling, direct mail, email, telephone, or other media depending on your target industry. You can also advertise in newspapers and attend trade association events. To attract job seekers, place adverts in local newspapers and on high traffic job boards and blogs. You can also create social media accounts for the same purpose.
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