Guide to Double Digit Staffing Firm Growth
Learn growth lessons from fast growing firms, what qualities top performing firms have in common, the biggest growth challenges staffing firms face, and more.
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How much does it cost to start a staffing agency?
Industry Outlook: Why Now Is a Good Time to Start Despite economic uncertainty and post-pandemic shifts, the staffing industry has remained remarkably resilient. Many businesses are turning to flexible staffing solutions to manage fluctuating demand, and that’s where agencies shine. Verticals like healthcare, IT, logistics, and government staffing are experiencing sustained or increasing demand….
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What Rising Interest Rates Mean for You and Your Bank (hint: get ready to pay more)
The Federal Reserve recently raised the benchmark interest rate by a quarter of a percentage point, the latest in a series of hikes. The benchmark rate range is now 4.75-5%. This move is intended to slow down inflation. What does that mean for staffing firms that fund with a bank? If you are currently funding…
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How Much Does Invoice Factoring Cost?
The fees a factoring company charges on your invoice amounts. Factoring fees can include daily fees, incremental fees, and admin fees. You may be able to arrange your fee structure (daily vs. admin) to fit your business/billing structure. The factoring fees you might encounter include the daily dee, incremental fee, and admin fee (see below…
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9 Common Pitfalls Your Staffing Startup Should Avoid
Starting a staffing company can be very profitable business if you take the right steps to ensure your success. However, we often see staffing startups making the same mistakes that can derail their business before it has a chance to grow. Here are some common pitfalls for startup staffing companies and recruiters. 1. Focusing on…
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Understanding Your Staffing Firm’s Non-Compete Agreement
If you’re a staffing professional, it’s likely that at one time or another you’ve considered leaving your company to start your own staffing business. You work hard for a paycheck but know that there is no assurance of a big future or financial security. You’re excited to explore becoming an entrepreneur but your non-compete and…
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Choosing an S Corporation or LLC for Your Staffing Firm
When deciding what type of business structure you want for your staffing firm, there are several things to consider. Most staffing firm owners choose to organize as either a Limited Liability Company (LLC) or S Corporation. In this article we explore the similarities and differences between the two structures.
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How to Start a Temporary Staffing Agency
Temporary staffing is a challenging but rewarding industry with few barriers to entry. It is a great time to consider starting a temporary staffing agency. The industry recovers quickly from setbacks, and companies always need labor. When starting a firm, we think there are four key things you must consider: people, technology, insurance, and payroll…
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4 Ways to Help Your Staffing Sales Team Close The Year Strong
As a staffing firm owner, you have a lot of incentive to close out the year with strong sales. This is your business we’re talking about, the one you spend countless hours on, your livelihood! The hope would be that your sales team is also motivated to meet monthly and yearly goals with time ticking…
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5 Simple Ways to Increase Staffing Firm Profits (That Aren’t “Sell More”)
When it comes to making more of a profit in staffing, “sell more” is not always the answer. First off, easier said than done! And secondly, it can actually hurt you in the long run if you under price yourself to win a high volume contract. That strategy almost never works out because if you’re…
