Are you about starting a staffing agency? If YES, here is a complete sample staffing agency business plan template & feasibility study you can use for FREE.
Staffing agencies are responsible for helping organization recruit staff to fill vacant position in their organization and also help applicants / those in between jobs secure employment; offer a wide range of recruitment -related services, largely temporary and contract staffing.
They also recruit employees for permanent placements. Some staffing agencies offer services beyond just recruiting employees for its clients, but also help in training and preparing the employees to fit into the role that they are being recruited for. Usually such staffing agencies charge more than those who just recruit employees for their clients.
When it comes to getting paid, some staffing agencies charge their clients; applicant administrative fees so as to enable them process their application, match them with employers and successfully help in securing jobs. Processing the application of an applicant includes helping them restructure their CVs and cover letters so as to fit into the expectation of the recruiter (the organization they want to work for).
In essence, it is the practice for staffing agency to earn their money by charging their clients (employers of labor) for the amount of work the employee undertakes. In most cases, the staffing agency receives the same amount as the employee. Staffing agencies make more money when they help organizations recruit highly skilled staff on a permanent basis.
Although some recruitment agencies still enter into personal contract agreement with applicants -such that they will collect a percentage of their salary for a period of 3 months or more if they help the applicant secure a job; most states in the U.S. have outlawed this type of arrangement.
A Sample Staffing Agency Business Plan Template
1. Industry Overview
It is on record that the staffing, recruiting, and workforce solutions industry makes a huge contribution to the economy of the United States of America, and they provide jobs and career opportunities for about 14 million employees annually. Despite the fact that staffing industry growth has outpaced the overall economic and employment growth in the U.S., it employs only about 2% of the U.S. non – farm workforce.
Statistics has it that in the united states of America, there are about 17,000 staffing and recruiting agencies and they operate around 35,000 offices scattered all around the U.S. Statistics also has it that the top 122 staffing agencies generates a combined sum of $69.4 billion in U.S. representing 55.9% of the market..
Records has it that 17 staffing agencies generated more than $1 billion in staffing revenue in 2014 and these staffing agencies represented over a third (36.4%) of the market. Each staffing agency on the list generated more than $100 million in U.S. staffing revenue in 2014.
No doubt, the $69 billion in staffing revenue generated by these staffing agencies give emphasis to the health of the staffing industry.
The staffing agency industry will continue to blossom because more and more organizations are beginning to realize that somehow they need the services of employment consulting firms to help them take aware the stress of recruiting workforce for their business which sometimes goes beyond recruiting to proving trainings and other Human Resources related services.
From all available statistics, it is safer to say the recruitment consulting industry is growing steadily despite the competitive nature of the industry. One thing is certain if you are well positioned, and have the required business skills, network.
Plus a robust CV bank, you may likely not have to struggle to compete favorable in the staffing industry. Another reason why people prefer to start a staffing consulting business is that, consultants have the monopoly to charge a fee as it suits them -especially if they are have been able to pay their dues in the industry over the years.
Other factors that encourage entrepreneurs to start their own staffing agencies or consulting firms could be that the business is easy to set up and the start – capital is indeed affordable; you can actually start your own staffing consulting business from the comfort of your house.
All you need to do is to create an office somewhere in your house. People usually pay you for the staff you can help them recruit and train.
2. Executive Summary
Brick House Staffing and Training Company, LCC is a Human Resource firm cum staffing agency that will be located in New York City, New York. The company will operate as a standard human resources consulting firm with bias in recruitment and trainings.
Our services will cover areas such as; Recruitment and Training Consulting, Highly Skilled Staffing Consulting, Unskilled Staffing (Maid supply, Nannies, Gardeners, Security Guards and Drivers et al), Permanent Staffing Consulting, Temporary / Contract Staffing and any other related human resources services.
We are aware that businesses these days require diverse and sophisticated approaches. This is why we will position our staffing agency to offer a wide range of related consulting services as requested by our clients. Brick House Staffing and Training Company, LLC is a client-focused and result driven staffing agency that provides broad-based experience at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will offer a complete range of human resources consulting services to our local, state, national, and multi-national clients and we will ensure that we work hard to provide the required consulting services and staffing solutions needed by our clients to accomplish their business goals and objectives.
At Brick House Staffing and Training Company, LLC, our client’s best interest come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire consultants cum recruiters who are well experienced in a wide variety of human resources consulting and trainings et al.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Brick House Staffing and Training Company, LCC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
Brick House Staffing and Training Company, LLC is founded by Dr. John Powel and his son Blaise Powel. The organization will be managed by Dr. John Powel; he graduated from University of California – Berkley (First Degree in Personnel Management), Brock School of Business at Stamford University (MBA), and University of Harvard (PhD.).
Dr. Powel is a Certified Recruiting Specialist (CRS), a Certified Personnel Consultant (CPC) amongst other certifications in Human Resources.
Aside from his core area of strength i.e. recruiting and trainings, Dr. Powel has extensive experience in a diverse range of business consulting, and his consulting practice is concentrated in the areas of helping both big corporations and start – ups position their business for growth, sustainability and expansion.
3. Our Products and Services
Brick House Staffing and Training Company, LCC is going to offer varieties of related staffing and training services within the scope of the consulting industry in the United States of America. Our intention of starting our staffing agency is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.
Our business offering are listed below;
- Recruitment and Training Consulting
- Staffing for the IT industry
- Staffing for the Oil and Gas Industry
- Staffing for the Health Sector (Nurses, Doctors et al)
- Staffing for the Banking, Insurance and the Financial Sector
- Recruitment, Human Resource and Capital Development Consulting
- Highly Skilled Staffing Consulting
- Unskilled Staffing (Maid supply, Nannies, Gardeners, Security Guards and Drivers et al)
- Permanent Staffing Consulting
- Temporary / Contract Staffing
4. Our Mission and Vision Statement
- Our vision is to provide our clients with skilled staffing consulting and training solutions in a timely and efficient manner.
- We strive to handle each client with accountability and responsiveness, as if we were recruiting and training staff for our own business.
- We focus our attention on the providing workable business solutions as it relates to staffing for our clients so that our clients can focus their attention on the success of their business.
- Our vision reflects our values: integrity, service, excellence and teamwork.
- Our mission is to provide professional and trusted staffing and training consulting services that assist businesses and non-profit organizations in operating sustainably.
- We provide workable staffing and training solutions in combination with our own business backgrounds, and deliver valuable services in a timely and cost-effective way.
Our Business Structure
Ordinarily we would have settled for two or three staff members, but as part of our plans to build a standard staffing agency business in New York City – New York, we have perfected plans to get it right from the beginning which is why we are going the extra mile to ensure that we have competent, qualified, honest and hardworking employees to occupy all the available positions in our firm.
The picture of the kind of staffing agency business we intend building and the business goals we want to achieve is what informed the amount we are ready to pay for the best hands available in and around New York City – New York as long as they are willing and ready to work with us to achieve our business goals and objectives.
Below is the business structure that we will build Brick House Staffing and Training Company, LCC;
- Chief Executive Officer / Lead Consultant
- Recruitment Specialist
- Training and Development Executive
- Legal Secretary
- Admin and HR Manager
- Business Developer (Marketing and Sales Executive
- Accountant
- Customer Service Executive
- Front Desk Officer
5. Job Roles and Responsibilities
Chief Executive Office / Lead Consultant:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Legal Secretary
- Responsible for drawing up contracts and other legal documents for the company
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Produces information by transcribing, formatting, inputting, editing, retrieving, copying, and transmitting text, data, and graphics; coordinating case preparation.
- Provides historical reference by developing and utilizing filing and retrieval systems; recording meeting discussions; maintaining transcripts; documenting and maintaining evidence.
Recruitment Specialist
- Responsible for handling staffing contracts for the IT industry
- Responsible for handling staffing contracts for the Oil and Gas Industry
- Responsible for handling staffing contracts for the Health Sector (Nurses, Doctors et al)
- Responsible for handling staffing contracts for the Banking, Insurance and the Financial Sector
- Handles Recruitment, Human Resource and Capital Development Contract for our clients
- Handles Highly Skilled Staffing Contracts
- Supervise unskilled staffing contracts (Maid supply, Nannies, Gardeners, Security Guards and Drivers et al)
- Handles Permanent Staffing contracts for our clients
- Supervise temporary / contract staffing contracts
- Work with the Training and Development Consultant to develop training solutions for clients
- Track hours and bill to clients.
- Handle any other responsibility as assigned by the Lead Consultant
Training and Development Consultant
- Coordinates training programs facilitated by Brick House Staffing and Training Company, LCC
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Identifies training and development needs for staff through job analysis, appraisals and consultation
- Collects briefs from clients in respect of Recruitment exercise, Learning and Development and Advisory services
- Designs job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Facilitates and coordinates strategic sessions.
- Works directly with clients in a non-advising capacity, such as answering questions, scheduling appointments and making sure all training concerns are properly taken care off
- Responsible for handling all trainings both internal and external trainings
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Design job descriptions with KPI to drive performance management for clients
- Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Oversees the smooth running of the daily office activities.
Business Developer (Marketing and Sales Executive)
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develops, executes and evaluates new plans for expanding increase sales
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps increase sales and growth for the company
Accountant
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Client Service Executive
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Front Desk Officer
- Receives Visitors / clients on behalf of the organization
- Receives parcels / documents for the company
- Handles enquiries via e-mail and phone calls for the organization
- Distribute mails in the organization
- Handles any other duties as assigned my the line manager
6. SWOT Analysis
Brick House Staffing and Training Company, LLC engaged the services of a core professional in the area of business consulting and structuring to assist the firm in building a solid consulting firm that can favorably compete in the highly competitive consulting industry.
Part of what the team of business consultant did was to work with the management of the firm in conducting a SWOT analysis for Brick House Staffing and Training Company, LLC. Here is a summary from the result of the SWOT analysis that was conducted on behalf of Brick House Staffing and Training Company, LLC;
- Strength:
Our core strength lies in the power of our team; our workforce. We have a team that are considered experts in the industry, a team with excellent qualifications and experience in recruiting and training.
Aside from the synergy that exist in our carefully selected workforce and our strong online presence, Brick House Staffing and Training Company, LLC is well positioned in a business district with the right demography and we know we will attract loads of corporate clients from the first day we open our doors for business.
- Weakness:
As a new business consulting firm, it might take some time for our organization to break into the market; that is perhaps our major weakness.
- Opportunities:
No doubt, the opportunities in the consulting industry of which recruiting and training is a part of is indeed massive and we are ready to take advantage of any opportunity that comes our way.
- Threat:
Every business faces a threat or challenge at any part of the life cycle of the business. These threats can be external or internal. This shows the importance of a business plan, because most threats or challenges are to be anticipated and plans put in place to cushion what effect they might bring to the business.
Some of the threats that we are likely going to face as a staffing operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects spending / purchasing power.
There is hardly anything we could do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
Quite a number of distinct trends have emerged in recent time in the consulting industry which is why staffing agencies and consulting firms alike are positioning their organizations to survive the peaks and troughs of an ailing economy.
As a matter of fact, most of these trends aid staffing agencies cum consulting firms and organizations to become more creative, competitive, efficient, and productive in a global market. Some other trends in the consulting industry could be attributed to changing demographics, attitudes and work styles.
No doubt, as the cost of consulting services continues to increase and as corporate spending falls, new consulting delivery methods will continue to emerge and gain momentum going forward. In addition, the market for consulting services has shifted from a sellers’ market to a buyers’ market. A market where consultants provide software solutions that will make it easier for their clients to run their businesses.
Lastly, it is now becoming trendy in the consulting industry for smaller staffing agencies or consulting firms to merge with bigger consulting firms and for bigger consulting firms to acquire smaller consulting firms / staffing agencies; mergers and acquisitions. Many consulting firms all over the United States are coming to the conclusion that the bigger the better for them.
8. Our Target Market
We do not want to leave any stone unturned in seeing that we attract all those who may be in need of our business. Although Brick House Staffing and Training Company, LLC will initially serve small to medium sized business, from new ventures to well established businesses.
But that does not in any way stop us from growing to be able to compete with the leading consulting firms cum staffing agencies in the United States. We hope to someday merge or acquire other smaller consulting firms and expand our staffing agency cum consulting services beyond the shores of the United States of America.
As a full service and standard staffing agency cum consulting firm, Brick House Staffing and Training Company, LLC have a variety of practice areas to help startups grow especially as it relates to staffing and training.
While we works with a variety of organizations and industries, Brick House Staffing and Training Company, LLC will also specialize in working with startups, real estate investors, and contractors, manufacturers and distributors, banks, lending and financial institutions.
Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses.
In other words, our target market is the whole of the United States of America and subsequently other parts of the world. Below is a list of the people and organizations that we have specifically design our products and services for;
- Banks, Insurance Companies and other related Financial Institutions
- Businesses and Entrepreneurs
- Blue Chips Companies
- Corporate Organizations
- Manufacturers and Distributors
- Real Estate Owners, Developers, and Contractors
- Research and Development Companies
- The Government (Public Sector)
- Households and families
- Schools (High Schools, Colleges and Universities)
- Hospitals
- Hotels
- Sport Organizations
- Entrepreneurs and Start – Ups
Our Competitive Advantage
One of the things that make one sit up in business is competition. The level of competitions in the staffing consulting industry depends largely on the location of the business and of course the niche of your staffing consulting business. If you can successfully create a unique niche for your staffing consulting agency, you are likely going to experience little or no competition.
For instance; if you are the only staffing agency that recruits nurses for organizations and homes in your location, you are sure of monopolizing that aspect of staffing. Brick House Staffing and Training Company, LLC might be a new entrant into the staffing and training consulting industry in the United States of America, but the management staffs and board members are considered gurus.
They are people who are core professionals and licensed and highly qualified consultants in the United States. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups staffing agencies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
We are very aware of the role that money plays in every business and that is why we are doing all we can to see that we source for income in the right places.
Brick House Staffing and Training Company, LCC is established with the aim of maximizing profits in the consulting industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign ‘retainer – ship’ contract with most of our clients.
Brick House Staffing and Training Company, LCC will generate income by offering the following staffing and training consulting services for individuals and for organizations;
- Recruitment and Training Consulting
- Staffing for the IT industry
- Staffing for the Oil and Gas Industry
- Staffing for the Health Sector (Nurses, Doctors et al)
- Staffing for the Banking, Insurance and the Financial Sector
- Recruitment, Human Resource and Capital Development Consulting
- Highly Skilled Staffing Consulting
- Unskilled Staffing (Maid supply, Nannies, Gardeners, Security Guards and Drivers et al)
- Permanent Staffing Consulting
- Temporary / Contract Staffing
10. Sales Forecast
As long as there are people living in the United States of America and business starting and growing in the U.S., the services of staffing agencies will always be needed.
We are well positioned to take on the available market in the U.S. and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond New York City, New York to other states in the U.S. and even the global market.
We have been able to critically examine the staffing agency market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in New York.
Below is the sales projection for Brick House Staffing and Training Company, LCC, it is based on the location of our business and the wide range of recruiting cum consulting services that we will be offering;
- First Year-: $100,000
- Second Year-: $500,000
- Third Year-: $1,000,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there is stiffer competition amongst staffing agencies in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing. Our sales and marketing team will be recruited base on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization.
We will also ensure that our excellent job deliveries speaks for us in the marketplace; we want to build a standard staffing agency cum consulting business that will leverage on word of mouth advertisement from satisfied clients (both individuals and organizations).
Our goal is to grow our staffing agency to become one of the top 20 staffing agencies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the U.S but in the world stage as well.
Brick House Staffing and Training Company, LLC is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to organizations and key stake holders in New York and other parts of the U.S.
- Promptness in bidding for staffing and training consulting contracts from the government and other cooperate organizations
- Advertise our business in relevant business magazines, newspapers, TV stations, and radio station.
- List our business on yellow pages ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality staffing and training consulting services to them
- Leverage on the internet to promote our business
- Engage in direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
We have been able to work with our in house consultants and other brand and publicity specialist to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the consulting industry by storm which is why we have made provisions for effective publicity and advertisement of our consulting firm.
Below are the platforms we intend to leverage on to promote and advertise our staffing agency business;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, et al to promote our brand
- Install our Bill Boards on strategic locations all around New York and major cities in the United States of America
- Engage in road show from time to time in targeted communities
- Distribute our fliers and handbills in target areas
- Position our Flexi Banners at strategic positions in the location where we intend getting clients to start patronizing our services.
- Ensure that all our staff members wear our customized clothes, and all our official cars are customized and well branded.
12. Our Pricing Strategy
Hourly billing for consulting services is a long – time tradition in the industry. However, for some types of consultancy services especially staffing and training services, flat fees or per head billings make more sense because they allow clients to better predict consultancy costs.
As a result of this, Brick House Staffing and Training Company, LLC will charge our clients a flat fee or per head for many basic services such as staffing and trainings et al.
At Brick House Staffing and Training Company, LLC we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance. In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises.
We are aware that there are some clients that would need regular access to consultancy and advisory services as it relates to staffing and performance management, we will offer flat rate (commission / percentage) for such services that will be tailored to take care of such clients’ needs.
- Payment Options
Brick House Staffing and Training Company, LLC, our payment policy will be all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that we will make available to our clients;
- Payment by via bank transfer
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
- Payment with cash
In view of the above, we have chosen banking platforms that will help us achieve our plans with little or no itches.
13. Startup Expenditure (Budget)
Starting a staffing agency cum consulting firm can be cost effective; this is so because on the average, you are not expected to acquire expensive machines and equipment.
Basically what you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, the amount needed to pay bills, promote the business and obtain the appropriate business license and certifications.
Basically, these are the area we are looking towards spending our start – up capital on;
- The Total Fee for incorporating the Business in New York – $750.
- The budget for Liability insurance, permits and license – $2,500
- The Amount needed to acquire a suitable Office facility in a business district 6 months (Re – Construction of the facility inclusive) – $40,000.
- The Cost for equipping the office (computers, printers, fax machines, furniture, telephones, filing cabins, safety gadgets and electronics et al) – $2,000
- The Cost of launching our official Website – $600
- Budget for paying at least two employees for 3 months and utility bills – $30,000
- Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous – $1,000
Going by the report from the research and feasibility studies, we will need about $150,000 to set up a small scale but standard staffing agency business in the United States of America.
Generating Funding / Startup Capital for Brick House Staffing and Training Company, LLC
Brick House Staffing and Training Company, LLC is going to start as a private business that will be solely owned by Dr. John Powel and family. The family will be the sole financial of the firm, but may likely welcome partners later which is why they have decided to restrict the sourcing of his start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $100,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Brick House Staffing and Training Company, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer nothing short of excellent services.
Brick House Staffing and Training Company, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check:>Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts various banks in the United States: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of All form of Insurance for the Business: Completed
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In progress
- Creating Awareness for the business (Business PR): In progress
- Health and Safety and Fire Safety Arrangement: In progress
- Establishing business relationship with key players in the industry: In progress
Frequently Asked Questions
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What Are The Responsibilities Of A Staffing Agency?
The responsibilities of a staffing agency are as follows;
- A staffing agency can provide end-to-end staffing solutions to a business
- Understanding the workload needs of the company
- Determining the workforce required to meet the same
- Conducting interviews and shortlisting candidates
- Vetting potential candidates through background checks and employment history
- Drawing contracts and looking at legal issues
- Imparting training in case of gaps
- Follow-ups on the performance of the temp workers to see if the requirements are met
- So also, if the worker is not the right fit, then it’s the responsibility of the staffing agency to terminate the hire and compensate, as needed.
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What Is A Staffing Agency And What Does It Do?
A staffing agency is an agency that is responsible for helping organization recruit staff to fill vacant position in their organization and also help applicants/those in between jobs secure employment. They also offer a wide range of recruitment-related services, largely temporary and contract staffing.
Some staffing agencies offer services beyond just recruiting employees for its clients, but also help in training and preparing the employees to fit into the role that they are being recruited for. Usually, such staffing agencies charge more than those who just recruit employees for their clients.
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How Does A Staffing Agency Get Paid?
When it comes to getting paid, some staffing agencies charge their clients administrative fees so as to enable them process their application, match them with employers and successfully help in securing jobs.
In essence, staffing agencies make more money when they help organizations recruit highly skilled staff on a permanent basis.
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What Are The Benefits Of A Staffing Agency?
Here are some of the benefits of a staffing agency;
- Staffing agencies have specialists to identify the right talent.
- Staffing agencies maintain a talent pool.
- Staffing agencies can hire faster and more accurately.
- Staffing agencies offer tailor-made solutions.
- Staffing agencies let you focus solely on your growth.
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When Should You Opt For A Staffing Agency?
- You should opt for a staffing agency when you want to quickly fill a position in your organization
- You should opt for a staffing agency when you need tailor made solutions to your recruitment process in your organization.
- You should opt for a staffing agency when you are finding it difficult to access pool of talents to fit into your organization.
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What Can A Staffing Company Do For You?
A staffing agency is an organization that matches companies and job candidates. By registering with a staffing agency, you have the potential to make connections with multiple hiring managers looking to find the right people for their job openings.
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What Is It Like To Work For A Staffing Agency?
Working for a staffing agency can be exciting, challenging and of course rewarding.
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What Are The Different Types Of Staffing Agencies?
These agencies are divided into three categories namely (I) Line Agencies (II) Staff Agencies, and (III) Auxiliary Agencies, depending on the nature of work performed by them.
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What Are The Benefits Of Working With A Staffing Agency?
The benefits of working for a staffing agency are enormous and some of them are;
- You will be in a position of influence
- You will earn an above-average salary
- You will have the chance to change lives
- You will have the opportunity to meet with different people
- You can help develop the people around you.
- You will feel gratification from solving problems.
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What’s The Difference Between A Staffing Agency And A Temp Agency?
Even though temp agencies and staffing agencies offer temporary workers to their clients, but temp agencies only offer temporary work, staffing agencies focus on the long term needs of their clients as well as placing candidates in what can turn out to be full time employment with major corporations.
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How Much Does A Staffing Agency Charge?
Staffing agencies typically charge 25 percent to 100 percent of the hired employee’s wages. So, for example, if you and the staffing agency have agreed on a markup of 50 percent, and the new employee earns an hourly wage of $10, you will pay the agency $15 per hour for their work.
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What Kind Of Roles Do Staffing Or Placement Agencies Offer?
Staffing agencies help fill temporary positions, temp-to-hire positions and direct-hire positions.
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How Can A PEO Assist With Employee Training?
A PEO can assist you with employee training in a variety of ways. This might include giving your employees access to internet-based learning sites, offering custom training with an outside expert, or even creating new seminars just for your employees.
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What Is Contract Staffing And Permanent Staffing?
Contractual staffing refers to the recruitment of employees for short-term employment contracts as opposed to full-time permanent workers, while permanent staffing is the process of providing required candidates for long-term employment based on specified candidate factors.
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Should I Use A Temp Agency To Find A Job?
Working with a staffing agency to find your next career will only help you expand your options. Employers are using staffing agencies and you should be too.
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What Are PEO Companies And What Do You Do?
PEO stands for professional employer organization. This is how PEO works; once a client company contracts with a PEO, the PEO will then co-employ the client’s worksite employees. The PEO typically remits wages and withholdings of the worksite employees and reports, collects and deposits employment taxes with local, state and federal authorities.
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How Do Employees Benefit From A PEO Arrangement?
Through a PEO, the employees of small businesses gain access to big-business employee benefits such as: 401(k) plans; health, dental, life, and other insurance; dependent care; and other benefits they might not typically receive as employees of a small company.
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What Are The Benefits Of Using A Temp Agency?
- Reduced overhead costs.
- Reduced overtime pay.
- Save on training, time, and reduce hiring risks.
- Saves time and increases ROI.
- Access to talent networks.
- The ability to hire quickly
- Industry market knowledge
- The ability to try out an employee before extending a full-time offer
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How Long Can You Hire A Temporary Employee For?
A period of temporary employment should last no longer than one year and have a clearly specified end date. Federal law also dictates that you cannot hire the same temp employee for more than two consecutive years.
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Do You Have To Offer A Temporary Employee Benefits?
You don’t have to offer a temporary employee benefit. Please note that while it may not be a requirement to provide health insurance to your temporary and seasonal workers, you are still obligated to provide a safe and healthy work environment. You can offer them voluntary benefits which they can pay for at low group rates.
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What Is The Difference Between PEO And ASO?
PEO – stands for Professional Employer Organization. ASO – stands for Administrative Services Organization and the most important difference between an ASO and a PEO is that the service provided through an ASO does not establish a co-employer relationship.
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What Is The Difference Between A PEO And A Staffing Company?
Both staffing agencies and PEOs are focused on workforce HR tasks, but with a staffing agency you are outsourcing your hiring process and the associated tasks. With a PEO, you are doing the hiring on your own and only outsourcing the administrative tasks, payroll, and compliance associated with your workforce.
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How Much Do Agencies Take Off Your Wage?
Standard recruitment costs tend to range between 15 percent and 20 percent of a candidate’s first annual salary, but this can go as high as 30 percent for hard to fill positions.
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Can You Just Leave A Temp Job?
Some contracts stipulate a mandatory notice period you may have to work through before leaving your job. The temp agency representative may want to inform your current employer of your intention to leave, since you are still technically an employee of the agency.
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Is It Bad To Get A Job Through A Staffing Agency?
Staffing firms play a critical role in helping companies find talent. Unlike corporate recruiters, recruiters at staffing agencies have access to jobs at multiple companies covering a wide spectrum of industries and positions. If companies and your competition are using them, you should be too.
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What Are The Differences Between A PEO And A Broker?
Generally speaking, a health insurance broker is an expert at insurance, whereas a PEO can provide expertise and assistance in a number of HR and compliance issues, in addition to providing access to health coverage
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Should You Outsource HR Or Keep It Inside Your Business?
In my opinion, I will advise that you outsource HR as against keeping it inside, especially if you are just starting out. As a matter of fact, even the smallest companies can benefit from small business HR outsourcing. In reality, the smaller your business is, the more beneficial it is to outsource human resources.
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What Are Common Misconceptions About Staffing Agencies?
Here are the top five common misconceptions of staffing agencies.
- Temporary Work Only (With No Stability)
- Take a Cut From Your Pay
- Don’t Pay Well
- Low-Level Jobs
- Only Offer Jobs at Small Companies
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How Can You Get Out Of Temp Agency Contract?
If you found your current job through a temp agency, the first step you should take is to contact your agency representative and inform them of your decision to leave, especially if it is prior to the agreed date.