We’ve all been there — losing track of time to daydreams of becoming our own boss. We’re just itching to invest some capital, and we can envision all that money that we’re going to make, often before the cash is even in hand. At some point, many of us would-be entrepreneurs consider the appeal of the franchise arrangement, especially because it means that much of the startup work is already complete. The appeal of the turnkey business can be overwhelming. A potential franchise owner can sign legal documents, put up the cash, and enjoy the first phase of ownership, but starting a business has many risks.
The Background
Whenever you’re thinking about investing in a franchise, you should consider the risks. There’s the initial appeal: a brand is already firmly established, and the franchise organization has conducted extensive research into the viability of your proposed market. Because there are many franchise arrangements on the market, gauge which one is most suitable for your business objectives. You might even have several brands from which to choose.
Considering a Staffing Franchise
A company that you can start up locally is one that places temporary and long-term workers into new jobs. Some employers seek part-time workers or contract workers, and others want to try full-time professionals on for size. These organizations have HR needs, and they want to outsource some or all of their recruiting activities. They want experts with time to screen applicants.
The Potential for Failure
Like every startup business, there is the risk for failure. You could lose some or all of your initial investment. You might not make enough placements to replace that important seed money. You could spend much of your own time working for a business that never makes a profit. These are risks expected from any startup venture, and prospective business owners like you know they might not ever get paid. The thrill is making the company work and being your own boss.
The Reward
It’s time to gauge your readiness for business ownership. Just understand that building a staffing franchise is about creating successful relationships. There are two sides to this business that we love: securing the confidence of job-seekers and gaining the repeat business of employers. You must balance their needs and keep them both happy, especially with win-win placements.
We want to help you understand the benefits and risks of buying a staffing franchise. For more details, please contact us.