If you’re tired of having a job working for someone else, why not open a franchise business where you help others find jobs working for someone else. Companies are always looking for the top talent they can find and if you can point people in the right employment direction, you can have a steady flow of revenue coming in.
Employment placement agencies and executive search services help people find jobs and help companies fill their job vacancies. On average, according to the Government of Canada, these establishments bring in almost $565,000 in revenue on an annual basis and 80% of them are profitable.
That’s fantastic news for anyone who is interested in opening an employment agency franchise. With a franchise, you will have the backing of a brand name that people will recognize throughout the province and maybe even throughout the country. So, someone who has used the agency brand to find a job in St. John’s will be drawn to it to help them find a job when they move to Winnipeg.
More Than Revenue
While being profitable is obviously important to any business, when it comes to employment agencies there is an added feel-good element because you are helping people find employment (or new employment) and also helping companies fill the vacancies they have with the right people to help them be successful.
Employment agencies help keep the economy moving by filling in employment gaps with people who want to earn money. They’re like neurotransmitters in the economy, delivering employees to employers and helping everything run smoothly. For entrepreneurs who want to help people and go beyond profit, employment agencies are a good fit.
There are different kinds of employment agencies, although the lines are blurring between them:
- Temp agencies – primarily help find temporary workers for businesses.
- Traditional or contingency agencies – only get paid when a client hires a candidate they have suggested.
- Executive search firms – they are retained by larger companies specifically help to fill higher up roles.
- Niche or specialist agencies – only concentrate on employment in a highly specific niche.
Regardless of which type of employment agency you are interested in opening, you can find a franchise to join.
What it Takes
To be a good employment agency owner, you have to really love helping people and a background in human resources — although not necessary — would certainly help. Above all else, you have to be a good manager of people and processes.
You can scour the internet and find all kinds of helpful articles about how to start a staffing agency. If you read 10 different articles, you may get 10 different ways of doing it. That is why joining a franchise can help you immensely. A franchise already has the startup thing figured out. They’ve done it dozens and possibly hundreds of times and have it down to a fine art.
A franchise will take you through the process of choosing a location, drumming up interest for your grand opening, marketing your agency, procuring clients and following up with those clients. Franchises offer comprehensive training to their franchisees to help them be successful, as it helps the entire brand be successful.
As a franchisee, you will get the benefit of all of your fellow franchisees’ hard work and they, in turn, will reap the rewards of your own hard work. The first step is finding the right franchise to join and that’s where FranNet can help you. If you’re ready to get started down the path of success with a franchise, sign up for a free FranNet franchise search and consultation today. We would be delighted to help you take that first step.