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Employment Agency Business Plan

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All About People

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

All About People (AAP) began out of the desire to contribute to this community, just as communities have fed All About People’s proprietor over the years. Although originally from a larger market, the proprietor realizes the need in the southern Willamette Valley for a personnel agency that fills a void left by other temporary and permanent placement agencies. AAP matches specifically skilled workers with clients, saving businesses time and money, while providing for its employees with honesty and honor. This requires a high level of communication. It means asking open-ended questions and listening, not talking. This means knowing the local market so AAP can really serve each client and employee, not just “sell” them our goods. AAP is quality service.

The long-term vision includes a number of offices throughout the southern Willamette Valley. The proprietor sees the challenge in this vision, not in the growth itself, but in training and encouraging all AAP personnel to treat each client and employee with the same care and with the same level of communication.

Managing our Growth AAP is a sole proprietorship that will convert to an S Corporation. As a new corporate entity, AAP will be treated as a start-up in this business plan. During the past couple of years the proprietor provided all services. In Year 1, the company will add a part-time office staff person and an employment specialist. In response to this growth, AAP will have a procedures manual for in-house staff to assure that the information is clear. In addition, AAP will provide employees with regular training within the divisions to assure they understand the details of the work they are doing daily. Year 2 projections include a receptionist, another employment specialist, and a field representative. In Year 3, AAP will examine the feasibility of opening a branch office in the Salem, Bend, or Medford/Ashland areas.

The Market AAP is structured like other temporary and permanent placement agencies. However, it will serve clients with needs for select, specialized professionals rather than clerical or light industrial workers. Several businesses in Portland, Oregon provide a similar service to specific groups of people, but there are none for the Willamette Valley. AAP has five divisions, targeting the following areas of expertise:

  • Editors/Writers

Event Planners

Graphic Artists

  • Interpreters/Translators.

Services AAP will handle recruiting, including reference checks, skills evaluation, preliminary interviewing,  and screening of all employees for its clients. AAP acts as an extension of the client’s human resource department, assuring that there is open communication between supervisor and employee, and assisting with any troubleshooting or problem solving that may be needed.

Financials The company’s start-up requirements are $55,464, of which $7,600 will be provided for by the owner’s personal investment. The rest will be obtained through loans.

We expect to be able to charge a 50% markup to our business clients. Thus, if an employee is being paid $10 per hour, we are charging the client $15 per hour. The company predicts that it will be able to produce sales of approximately $300,000 by Year 3. The company does not have any direct cost of sales; we track payments to placed individuals as regular payroll.

Sbp, employment agency business plan, executive summary chart image

1.1 Objectives

AAP is structured like other temporary and permanent placement agencies. However, we serve clients with needs for select specialized professionals, rather than clerical or light industrial workers. Several businesses in Portland, Oregon provide a similar service to specific groups of people. AAP followed the model of one placement firm described below.

A contract engineering firm places temporary workers who are hardware and software engineers. Employees earn between $80- $100 per hour and approximately seven employees are placed per month. The firm recruits through its website, advertises in newspapers, magazines, and trade publications. Incentives offered to contingent workers include medical, dental, and disability insurance, 401(K), and a reference finder’s fee for placement referrals. They find their employees are 60 percent male, 40 percent female, and ages spread evenly.

AAP serves the business client by locating a professional worker, interviewing and screening that worker, setting up interviews if necessary, and administering all hiring paperwork. The company runs payroll and bills the client bi-monthly. AAP will also manage the professional, staying in close contact with the client and communicating with the worker regarding any personnel issues that may arise.

The professional worker is served with employment opportunities at no cost; pay rates that are within industry standards; and health insurance may be purchased, if a worker becomes eligible, at a group rate starting at $124/mo. AAP will pay $65/mo for any coverage chosen from the group package.

1.2 Mission

All About People’s mission is to contribute to the community by filling a need for specialized, professional, contingent workers. The company will provide workers with a safe and independent environment. It will also provide businesses with a high-caliber of employee available for project or permanent work. All About People listens to individual needs and customizes personnel solutions for both businesses and workers.

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Company summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">.

AAP is a temporary and permanent placement personnel agency working solely with skilled, professional workers and Willamette Valley businesses. AAP differs from other temporary and permanent placement agencies because of our skilled workers. The company believes that the temporary industry pays only cursory attention to providing businesses highly qualified workers for permanent and non-permanent positions. AAP has five divisions, targeting the following areas of expertise:

AAP does not provide general clerical, light industrial, engineers, accountants, nurses, or other medical technicians.

AAP does the following for each client:

  • Recruiting (reference checking)
  • Skills evaluation (preliminary interviewing)

AAP conducts regular evaluations: AAP checks in with the supervisor and the worker during the first week on the assignment. AAP then checks in as agreed with the client. AAP acts as an extension of the client business’ human resource department assuring that there is open communication between supervisor and employee, and assisting with any troubleshooting or problem solving that may be needed.

Prior to opening our doors, research showed support for the development of a personnel agency working solely with professional contingent workers and Willamette Valley businesses (see topic 7.3 Supporting Research).

According to the Oregon Department of Employment, Lane County has 31 temporary agency firms with 3200 individuals employed. Total employment figures for Lane County are 250,000; therefore, we support between two and four percent of the population.

Through connections in a variety of areas, AAP is able to locate qualified workers not only through advertising, but through a channel of networking. This past year has shown that qualified, willing workers are certainly available as we currently have hundreds on staff willing and able to work.

2.1 Company Ownership

AAP is a sole proprietorship that will convert to an S Corporation. As a new corporate entity, AAP will be treated as a start-up in this business plan.

The sole proprietor, Sarah Wayland, can be reached at AAP’s office, [contact information omitted in this sample plan].

2.2 Start-up Summary

Projected start-up figures are shown in the chart and table below.

Sbp, employment agency business plan, company summary chart image

The company is uniquely positioned to take advantage of this market opportunity because of the management and field expertise of the proprietor. Sarah Wayland worked in the temporary employment industry for three years with ADIA Personnel Services (now ADECCO) as Area Account Manager (in training as a branch manager): building business relationships; hiring employees; handling employee issues; working with clients during the implementation of ADIA; and opening an additional office in Beaverton, Oregon.

For one year the proprietor was a District Sales Manager at Columbia Distributing, showing a 10% increase on $3.5 million in annual sales. Managing a staff of nine in sales and customer service, she had the opportunity to delve further into hiring/firing, reviewing, incentives outside of salary, and personnel issues.

Most recently, she has spent several years as Funds and Contracts Manager at the Oregon University System; managing four grants totaling $1.5 million annually and all personal service and interagency contracts as well.

The proprietor’s most notable success was bringing the second branch of Cellular West located in Portland, Oregon, from running in the red, to breaking even within four months of its opening. She accomplished this by using motivational tools and providing the sales force with extensive training.

3.1 Products and Services Plan

Changing labor market conditions threaten the concept of full-time permanent employment.

AAP provides a complex blend of services to distinct populations. The company serves businesses through connecting them with the professional contingent work force. It also serves the worker by connecting them with businesses, at no charge, and providing benefits not often provided by other employment agencies.

Market Analysis Summary how to do a market analysis for your business plan.">

All About People (AAP) is a local firm that costs less than a consultant or agency, provides for both project and long-term needs, and has an easy, pay and billing rate system that covers employee payroll and worker’s compensation insurance.

There are a variety of reasons why businesses may need AAP’s services:

  • Spikes in work load
  • Business expands into an area that in-house expertise does not yet match
  • Special events
  • Pregnancy leave or sabbatical
  • Business increases after layoffs
  • Smaller business does not yet have staff on-hand to complete extra projects.

According to economic forecasters, employment agencies and financial services are expected to have the largest industry growth over the next 25 years. The trend toward businesses cutting back on employees and their benefits due to high costs creates the demand for AAP’s services.

Just consider the time, energy, and resources an employer may spend trying to employ a person for a 20-hour task.

In addition to the already lucrative temporary industry, several companies in the Portland Metro Area place professional contingent workers, but the southern Willamette Valley is not currently being served.

The company approaches businesses primarily through networking and cold calls. Our intention is to utilize a PR agency for more coverage as soon as possible. AAP is a member of the area Chamber of Commerce and actively participates in as many activities as possible, the proprietor is a member of the Women’s Business Network, the Professional Women’s Organization, and we are in the process of connecting with the Society for Human Resource Management. Prior to start-up, AAP also surveyed several area businesses about their use of contingent workers. The company will use its website and other marketing materials that describe what services we provide and explain how simple it is to work with us.

AAP advertises in local papers and trade magazines when absolutely necessary, but most often uses the Oregon Employment Department, both community college and university campuses, and the networking groups we are members of to search out the right employee. Prior to the sole proprietor start-up, the company started recruiting by administering twenty personnel surveys and advertising locally to create a staff of qualified contingent workers. This staff will be unaffected by AAP’s corporate restructuring.

4.1 Market Segmentation

The market can be broken down into two segments: the business market segment, and the employee market segment. Both of these segments are lucrative.

Business market targets: The company targets the University of Oregon, Lane Community College, the nonprofit organizations, the publishing industry, the advertising industry, and other large businesses.

Employee market targets: Editors/writers, graphic artists, computer specialists, event planners/fundraisers, and language translators/interpreters working in the business target markets listed above, as well as any applicants with unusual skills and talents.

4.2 Service Business Analysis

These charts demonstrate the types of workers employed, the type of qualified professionals on file to work for the company, and the types of businesses who have used AAP’s services. These statistics cover the 15-month sole proprietorship period from July 1, 1998 through September 30, 1999.

Types of workers employed by or signed up with AAP

Types of employers using AAP

Each and every contact is entered into the database-either in the professionals file if they are a potential candidate, or in the contacts file if they are another type of contact. The client and jobs files utilize the contact and client numbers to automatically fill in the information from the contact or client files. This means no duplicate typing. In addition, the contacts, clients, and professional files all have follow-up sheets attached making daily follow-up easy. Simply pull the file up for that day and all calls that need to be made that day will be marked.

Searching is easy. The check boxes within each professionals file allows us to check for singular or multiple skills and experience with a click and a return.

4.2.1 Competition and Buying Patterns

First form filled out from the moment the candidate calls. Three screens constitute one file: Personal Information; Job Information; Skills. The professional and contact files have a conversation record that will allow easy follow-up with a list daily of those records needing a call.

Interview Form

Directly from the employee forms the Employment Specialist can select the appropriate interview form. This form consists of three sheets: Basic Questions; Other Information/Recommendations; and Reference Checks.

Employee Profile Sheet

From the above information, a profile sheet is generated in hard copy for the inside of each file. This is our second backup system (besides the tape drive) in case of a power outage, etc.

4.2.2 Contact Sheet

This form is used for all other contacts. From here, a contact can be turned into a client by merely typing the contact number in on the client sheet, automatically bringing in all of the information.

In addition, the contacts can be pulled up as a list and can be used to create the client information. The professional and contact files have a conversation record that will allow easy follow-up with a list daily of those records needing a call.

4.2.3 Client Sheet

The client sheet is easily created by filling in the contact number. All pertinent information is automatically entered. The client sheet has its own contact sheet attached generating a daily follow-up list. The client files can also be pulled into a handy contact list.

Strategy and Implementation Summary

AAP is completely service minded, customizing personnel packages and offering the most it can to both employers and employees. The company brokers professional workers to Willamette Valley businesses. Because we serve two distinct groups of people, both businesses and employees will be considered equally important to AAP.

The company consists of five divisions, targeting the following types of workers and needs in businesses:

Computer Division

  • Computer Application Specialists
  • Computer Hardware Specialists
  • Computer Programmers
  • Network Administrators
  • Web Specialists

Editor/Writers

  • Multi-lingual
  • PR/Marketing
  • Fundraisers
  • Large and Small

Language Interpreters and Translators

  • Multiple Languages
  • Person-to-Person

Within these categories, we originally set up a system of single sheets on card stock and filed them in binders. Since then, an electronic database has been created by one of our professionals. With the push of a button, AAP can search for a client or an employee needed.

Businesses and employees will be able to communicate with AAP via both new technological and traditional methods. Our Web page provides information about AAP including what professional fields we serve, what clients we are working with, and what services we offer. A second-generation Web page will provide information about employees for businesses through a password-protected area. AAP forwards candidates’ resumes and other information through a variety of methods: phone, fax, personal visit, mail, and the Web page.

In August 1999 we moved the offices to the center of town. Accounting is handled electronically by the proprietor through QuickBooks, with the complex needs handled by our CPA. All payroll is generated through the payroll service, Paychex. The office is furnished with all of the technology needed to operate on a daily basis, increase market share, and serve clients.

5.1 Competitive Edge

When a business is contacted and expresses interest in contingent employees that the company can provide, the following procedures will be followed:

  • Consult with client and create a follow-up plan.
  • Complete the contact, client, and job sheet in the database.
  • Print one of each and forward a copy of the job sheet on yellow paper to the employment specialist.
  • File original sheets in the appropriate binders.
  • Search for matches in the database and pull each folder that looks like it will work.
  • Review that folder to assure a match.
  • Call each potential candidate and discuss the job and pay to its fullest.
  • Fax, e-mail, or otherwise contact client with information and/or resumes for review.
  • Schedule interviews or make a decision on appropriate candidates.

5.2 Sales Strategy

When an employee seeks to work with the company, the following procedures will be followed:

  • Complete the professional’s form in the database.
  • While completing this sheet, screen the employee for experience levels, requiring professional experience in each arena they wish to work.
  • Set up an interview with the employment specialist if the professional is qualified.
  • Create a file for each employee and place all paperwork, along with a copy of the professional’s form.
  • Keep in touch with the professional quarterly if nothing comes up, more often if at all possible.
  • When the professional agrees to a position, they will be supplied with an employee policy manual, pieces of letterhead for invoicing, and will complete the IRS I-9 and W-4 forms prior to beginning work.

5.2.1 Sales Forecast

Our sales forecast projections are presented in the chart and table below. Three years annual projections are shown in the table.  The chart shows first year monthly forecast.  First year monthly table is included in the appendix.

Sbp, employment agency business plan, strategy and implementation summary chart image

5.2.2 Target Market Segment Strategy

The pay rate data will be determined by changing market factors including business demand.

Our experience shows that the following is true in regards to pay and bill rates. A “good deal” for most temporary agencies is a 50% of pay rate markup. Thus, if the pay is $10, the bill is $15. However, we have traditionally used a flat markup that seemed appropriate. Pay and bill rates generally are outlined as follows:

Editors Most editors require between $25 and $35 per hour, and our history has shown a $10 per hour markup is acceptable. One exception is in the technical arena, garnering between $45 and $55 per hour pay; again a $10 per hour markup is typical.

Writers The only writing we have done is creative for [client name omitted], and we paid $15 with a $10 markup.

Event Planners Event planners often will work for between $12.50 and $25 per hour, depending on the length of the job, requirements, and experience needed. We find a $5 per hour markup on the $12.50-$17.50 is reasonable, and a $10 per hour markup on anything over $17.50 per hour.

Fundraisers Fundraisers can start at $10 per hour (nonprofit) and go up to $20 per hour. This usually depends on client and length of assignment. Bill rate markup for nonprofits is $5 per hour, others between $7.50 and $10 per hour.

Graphic Artists Entry level beginning at $12.50 per hour, intermediate at $15 per hour, and a top of the line professional at $25 per hour. The exception may run about $50 per hour. Bill rates are between $7.50 per hour markup ($12.50-$15), and $10 markup.

Language Interpreters This is a tricky arena. Pricing depends on the language (typical/atypical) and the length of the assignment. Interpreters have been known to work for as little as $15 per hour and for as much as $35 per hour. A $10 per hour markup is acceptable.

Language Translators This division is difficult as each language and situation varies slightly. Translators tend to work by page or by word. Technical translation can be as much as $.30 per word. Other translation can be $10 per hour (an hour a page). We are unsure of markup at this time, but would suggest 50% of pay rate.

Computer Specialists:

  • Application-Starting at $12.50 an hour based on Xerox experience. Markup $5 per hour.
  • Programmer-Starting at $20 an hour based on AlbertIQ experience. Markup $10 per hour at a minimum. Try for $15.
  • Web Designer-Entry level positions can start at $10 per hour with a markup of $5. Project work typically starts at $15 an hour, markup at least $10 per hour.
  • Administration-Pay rates range between $50 and $75 per hour, with a preferred markup of $25 per hour.

When determining the bill rate, additional expense factors to remember above the pay rate are 15% employer taxes, advertising, and staff time to fill the position.

5.3 Milestones

The company has an outstanding client list and an incredible number of qualified employees available. AAP has a good reputation for providing qualified people in a timely manner.

AAP just moved its offices and in 2000 will add employees. The company will soon have one front office person, one employment specialist, as well as the proprietor who will concentrate on sales and running the business. We own all necessary equipment and are in the process of acquiring more to make our jobs easier. Most notably, we are in the process of completing our customized data base.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

In a variety of settings the proprietor of AAP has strong management experience. The proprietor has the skills to not only listen well, drawing out a person’s needs through open-ended questions, but also has the ability to recognize people’s strengths and weaknesses. She will draw upon this extensive successful experience in addition to the knowledge collected over a period of 18 years working professionally. Much of the “people” skills have been developed during the seven years spent in management roles. This experience, along with a varied background, supports AAP’s goals.

AAP’s objectives are threefold:

  • To provide high quality, experienced, professional workers to businesses that are currently relying on the instability of word-of-mouth contacts, and are spending much of their time and resources (and, therefore, money) locating such workers;
  • To provide these workers with a path by which to reach the employer without spending their own time, money, and energy finding the work; and
  • To use this opportunity to make the contingent work force a better place for both the employer and the employee.

The long-term goal of the company is to franchise and/or to become multi-location, and eventually sell this business.

Management is a style, a belief, and a strategy.

In managing our clients, AAP will communicate regularly with them, setting up a schedule that meets their needs. The company will set goals for retention of clientele and strive to reach those goals by building relationships, listening to the client’s needs, and meeting those needs with a smile on our faces. We will take responsibility for our errors and the outcome.

In managing our workers, AAP will communicate regularly with them, providing them with an employee manual to minimize their confusion, and offer them the best pay and benefits possible. AAP will set goals for retention of employees and strive to reach those goals by treating each employee with respect, provide protection when appropriate, and do everything within our power to assure a healthy working environment.

This is a relationship business. AAP will manage all clients and employees through relationship building.

During 1998-99 the proprietor provided all services. In 2000 the company will add a part-time office staffer and an employment specialist. In response to this growth, we will have a procedures manual for in-house staff assuring that the information is clear. In addition, we will provide employees with regular training within the divisions to assure they understand the details of the work they are doing daily. 2001 projections include a receptionist, another employment specialist, and a field representative. In 2002 AAP will examine the feasibility of opening a branch office in the Salem, Bend, or Medford/Ashland areas.

6.1 Payroll

All About People runs its payroll twice a month. Each professional will be given a check schedule when they work with AAP. Each check covers the previous two weeks.

In order to process payroll; AAP must receive a professional’s signed invoice the Wednesday prior to payday. The invoice, must be on AAP letterhead and include: name, social security number, mailing address, dates of work completed, location worked (at home, at the client’s office), one or two sentences describing what tasks were completed, and how much time was spent each day. At the bottom there must be a place for the client to sign and date in acceptance of the work to date. The original will be submitted to AAP, the client will receive one copy, and the professional will keep a copy.

AAP is unable to provide payroll advances. If a check is lost in the mail, we must wait seven days from the date of mailing, and then if the check has not arrived we will stop the check at the bank and have one reissued.

6.2 Benefits

Because we value our employees, we have employee group health insurance available, and contribute a major portion of the monthly premium. According to the Insurance Pool Governing Board (IPGB) employees must work at least 17.5 hours per week. Employees who work intermittently or who have worked fewer than 90 calendar days are not eligible. IPGB also states that all carriers may decline to offer coverage to the business or to any employee.

Technically, All About People is employer of the professionals we place. This means that we are responsible for covering the worker’s compensation insurance, running payroll, and that we are the ones to whom each employee is responsible. We understand that this can be tricky when employee professionals are working with a client, so we want to describe the expectations of this relationship:

  • If the professional doesn’t understand the work or assignment that has been given by the client, then discuss the work with the client.
  • If there are issues at work, the employee should inform AAP and then speak with the client.
  • If these issues continue, the employee should talk with AAP immediately.
  • If the professional feels they are being harassed at work they should let AAP know immediately.
  • If the employee should be being asked to perform tasks other than the original assignment, the employee should talk with AAP before beginning any tasks other than the original assignment.
  • If the professional is being asked to work overtime (more than 40 hours per week), they should let us know immediately.

AAP does not guarantee either work or wages when you join us to become an AAP employee. We will, of course, strive to keep you as busy as possible. AAP is also not able to guarantee an hourly wage prior to the assignment beginning. If you work on a job, and complete the work successfully, you will be paid at the agreed rate.

This employment relationship differs from others because you, AAP, or the client may end your employment with or without notice and with or without reasons. However, if you accept a job with AAP, we do expect you to finish the assignment.

Marketing Strategy

AAP’s target market is both businesses and professional workers. Phase one of the marketing plan will target the University of Oregon, the technology industry, and the top 500 businesses in Eugene through networking and cold calling. Phase two will target small businesses with less than five employees because smaller businesses may not have the in-house capability to locate, evaluate, and hire potential professional contingent workers through a small PR campaign.

7.1 Businesses

We began marketing the businesses through several personnel surveys. The University of Oregon Alumni Association, University of Oregon Foundation, and University of Oregon Human Resources Department, as well as Symantec’s Human Resources director were approached for information regarding their need for professional temporary and permanent workers. These initial interviewees have all (with the exception of U of O HR Dept) become clients within the first year of business. After these personnel surveys were complete, we adjusted our recruitment of professional workers to meet the demand.

Another tactic was joining multiple business groups. AAP became a member of the Eugene Chamber of Commerce and attends the weekly greeters meetings; the Women’s Business Network and attends the monthly meetings; the Professional Women’s Organization and attend the monthly meetings; as well as the City Club, keeping a pulse on what is happening in the community, attending as the proprietor sees fit.

The next approach is face-to-face cold calls. The tools for these calls are simple-a business card and a brochure. The information collected during the cold call is vital: how many employees does the business have; in what areas have they experienced a need for professional contingent employees; and who is the appropriate contact.

7.2 Professional Workers

Our beginning point in marketing to workers was approximately 30 personnel surveys to professional contingent workers, building the foundation of our database.  AAP intends to recruit workers through advertising in the newspaper and appropriate trade magazines, trade shows, the University of Oregon career center, and by referral. We have found that each division within the company requires a different approach for recruitment. We try not to depend on newspaper advertising as we find the results are moderate. Results are far better with the employment department for some areas, with the U of O for others, and also through a series of developed contacts for the other divisions.

7.2.1 Trust

In order to build trust with both businesses and employees AAP will follow through as promised. We will treat each business, employee, and ourselves, with integrity. AAP will communicate clearly, asking businesses to specify the needs for follow-up service during the time that they employ our contingent worker. We will work with employees to assure that they have a clear understanding of what AAP offers and what we expect of them.

7.3 Supporting Research

“A fading model of employment in the United States envisions a business enterprise with full-time employees who can expect to keep their jobs and perhaps advance so long as they perform satisfactorily and the business continues. Changing labor market conditions threaten the concept of full-time permanent employment. As reported by the Conference Board in September 1995, contingent workers account for at least 10 percent of the workforce at 21 percent of the companies surveyed, or almost double the 12 percent of respondents with that number in 1990. Writing in the Monthly Labor Review in March 1989, Belous estimated that contingent workers constitutes 24 to 29 percent of the labor force in the United States. In August 1995, however, the U.S. Bureau of Labor Statistics (BLS) estimated the size of the contingent labor force at 2 to 5 percent of the total workforce. However, BLS did not count long-term part-time employees, who constitute 90 percent of part-time workers.”       — Society for Human Resource Management, The Contingent Worker: A Human Resource Perspective, by W. Gilmore McKie & Laurence Lipset taken from Chapter 1, What Is a Contingent Worker?

AAP is a service company providing businesses with customized personnel solutions by connecting them with the professional contingent work force. Research suggests that 2000 is an opportune time to be in the Eugene market with this service. Even with all of the evidence that contingent work is the wave of the present, and of the future, the niche of placing contingent workers who are paid $12.50 to $40 per hour is untapped in the Eugene area. However, a few companies place high-end contingent workers in the Portland area.

There are many reasons why businesses are turning to contingent workers. The Economic Policy Institute’s article “ Contingent Work ” by Polly Callaghan and Heidi Harmann explains that:

“Growth in involuntary part-time employment is causing total part-time employment to grow faster than total employment. Another indication of the shift toward part-time workers: hours for part-time workers are growing faster than hours for full-time workers. Temporary employment has grown three times faster than overall employment and temporary workers are being used for more hours. Contingent employment is growing faster than overall employment. Part-timers are disproportionately women, younger, or older workers. There has been a shift away from manufacturing toward trade and services. These structural changes help explain the growth in part-time employment.”

Because of the changing nature of jobs themselves, AAP’s services are desirable to employers of all sizes. Unlike five or ten years ago, many positions are so diversified, or specialized, that it is not financially feasible for an employer to hire a person to fill one position, requiring several areas of expertise. This is not financially wise for the business because of the pay range required to recruit and hire such a talented person (especially in areas such as graphics, design, etc.). The cost of payroll, taxes, benefits, and other miscellaneous staff required to run employees add to the burden of a downsized staff. Contacting AAP and using a professional contingent worker for each portion of a position as needed will solve this dilemma. Currently most businesses locate needed “qualified” workers by word of mouth. With one phone call, e-mail, or connection with our Web page, AAP makes the task easy.

In addition, Oregon’s economy is expected to continue growing, and employment, total personal and per capita income, and population growth rates are expected to exceed the national average (according to the 1997-98 Oregon Blue Book). Although Oregon’s economy is among the best there is an obvious group of contingent workers available to build an employee labor pool. The company draws from a labor pool of qualified contingent workers which consists of people who work at home, retirees, others who wish to work part-time. According to the Oregon University System, approximately 33% of bachelor’s degree graduates will be unable to find jobs in Oregon each year. So, recent college graduates are also a part of AAP’s labor pool.

Research shows that a large percentage of workers who tend to work more than one job are well-educated individuals who have a higher degree of education. According to Oregon Employment Department’s Occupational Outlook Quarterly , Spring 1997, 9.4% have Ph.D.’s; 6.5% a Professional degree; 9.1% a Master’s degree; 7.9% a Bachelor’s degree; 7.9% an Associate degree; and the remaining 15.8% lesser education. According to a Personnel Journal article “ Contingent Staffing Requires Serious Strategy ,” April 1995, there are also many retirees that enjoy doing contingent work.

Financial Plan investor-ready personnel plan .">

The following sections contain the financial information for All About People. Tables show annual projections for three years. Charts show first year monthly figures.  First year monthly tables are included in the appendix.

8.1 Important Assumptions

The financials of this plan are predicated on the following table of assumptions.

8.2 Projected Profit and Loss

Profit and Loss figures are projected in this table.

Employment agency business plan, financial plan chart image

8.3 Projected Cash Flow

Our cash flow estimates are shown in the chart and table below. The owner expects to invest further amounts in the business over the next two years to finance continued growth.

Employment agency business plan, financial plan chart image

8.4 Projected Balance Sheet

Three year annual balance sheets estimates appear below.

8.5 Business Ratios

The table below presents important business ratios from the help supply services industry, as determined by the Standard Industry Classification (SIC) Index code 7363, Help Supply Services.

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Staffing Agency Business Plan Template

Written by Dave Lavinsky

Business Plan Outline

  • Staffing Agency Business Plan Home
  • 1. Executive Summary
  • 2. Company Overview
  • 3. Industry Analysis
  • 4. Customer Analysis
  • 5. Competitive Analysis
  • 6. Marketing Plan
  • 7. Operations Plan
  • 8. Management Team
  • 9. Financial Plan

Start Your Staffing Agency Plan Here

You’ve come to the right place to create your staffing agency business plan.

We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their staffing agencies.

Below are links to each section of your staffing agency business plan template:

Next Section: Executive Summary >

Staffing Agency Business Plan FAQs

What is a staffing agency business plan.

A staffing agency business plan is a plan to start and/or grow your staffing agency business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can  easily complete your staffing agency business plan using our Staffing Agency Business Plan Template here .

What Are the Main Types of Staffing Agency Companies?

There are many types of staffing agency companies. Some staffing agencies will focus on a particular industry, such as clerical jobs. Other staffing agencies focus on executive job placement, while others will offer a wide range of services across all industries. Some even offer human resource functions, such as payroll, benefits administration and risk management.

What Are the Main Sources of Revenue and Expenses for a Staffing Agency Business?

The primary source of revenue for staffing agencies are the fees it charges clients to place them in a job and the revenue it receives from businesses that hire them to find and recruit suitable staff for their business.

The key expenses for a staffing agency business are the costs to market the business, as well as payroll for the support staff. Other expenses will be the rent, utilities, and overhead costs for the physical office space.

How Do You Get Funding for Your Staffing Agency Business Plan?

Staffing agency businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources. This is true for an employment agency business plan and specialities like a healthcare staffing agency business plan.

What are the Steps To Start a Staffing Agency Business?

Starting a staffing agency business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Staffing Agency Business Plan - The first step in starting a business is to create a detailed staffing agency business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your staffing agency business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your staffing agency business is in compliance with local laws.

3. Register Your Staffing Agency Business - Once you have chosen a legal structure, the next step is to register your staffing agency business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your staffing agency business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Staffing Agency Equipment & Supplies - In order to start your staffing agency business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your staffing agency business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful staffing agency business:

  • How to Start a Staffing Agency Business
  • How to Open a Staffing Agency Business

Where Can I Get a Staffing Agency Business Plan PDF?

You can download our staffing agency business plan  PDF template here . This is a business plan template you can use in PDF format.

How To Create a One-Page Business Plan for Your Marketing Agency (+ Template)

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QUICK SUMMARY:

A one-page business plan simplifies a marketing agency's strategy, focusing on core objectives and actionable steps. Ideal for agencies seeking clarity in goals, it serves as an efficient roadmap. This article offers insights into crafting such a plan, highlighting its benefits for agencies aiming to streamline their strategic approach, with a template for developing your agency's focused business strategy.

Much like flossing or getting enough sleep, many leaders of marketing agencies are on the verge of a new business move–whether it’s growing their agency’s franchise or creating a separate branch with distinct services. They know they should create a business plan, but don’t. Whether it’s being overrun by “higher priorities” or questioning the value of this exercise altogether, it’s not uncommon for the business plan to fall by the wayside.

While it may be common for marketing agencies to operate without an actual written plan, that doesn’t mean it’s the smartest move for you . Enter the one-page business plan. The fast, effective way for marketing agency owners and CEOs to reap the benefits–without the herculean effort.

In this article, we’ll define the differences between traditional and one-page business plans and answer your questions about whether or not you should prioritize writing one for your marketing agency. (Spoiler alert: you should!)

We’ll cover:

What a One-page Business Plan Is Not

What Is a One-page Business Plan?

Can I Skip Writing One?

The Benefits of a One Pager

What Should I Include in It? (Free Template) 

How Do I Write a One?

How Do I Use My One-page Plan at My Marketing Agency?

Scaling Your Agency

Before we define what it is, it’s easiest to define what it is not . A one-page business plan is not a traditional business plan. These are two different documents that serve different purposes for different audiences.

A formal or traditional business plan is a core document for any business, not just marketing agencies. They are a pitch–your proof of concept to get a loan or investment from a bank or venture capitalist. But they can also be used to formalize the vision of agency leadership to make sure everyone is on the same page. 

Traditional business plans follow a standard structure and include a company’s executive summary , vision, and values, a general overview of operations and structure, marketing analysis, and financial projections. They can range from five pages to 50 and are usually accompanied by a formal presentation.

Some marketing agencies start without one–maybe yours did. And that’s OK. But we’re willing to bet that the most successful agencies, from Omnicom Group to Deloitte Digital, are definitely not winging it today; they each have meticulous business plans. Guaranteed. 

Additionally, formal business plans are essential for acquiring loans or investments, particularly from established institutions. Bankers, venture capitalists, and angel investors will all expect to see a written plan at the outset. So, if you are actively looking for funding, focus on creating a traditional business plan to wow potential investors. Of course, it’s more than just a pitch to investors. It’s also an excellent resource for your executive team as your agency grows and changes. 

However, not every agency has the time–or the need–for a 50-page business plan. This is where the one-page agency plan comes in. It can provide the same value as a traditional one in a condensed format that makes it more accessible and easier to use on a regular basis. It may be shorter than a traditional one, but it is equally vital to your company’s growth and scalability.

Ok, So What Is a One-Page Business Plan?

Think of your agency’s growth as an epic quest. There will be bumps in the road and a cast of colorful characters. As you journey onward, you’ll pick up new skills and ditch the dead weight. Where does a one-page business plan factor into this journey? It’s your GPS.

Your one-page plan is where you input your destination and map the most efficient route to get there. It’s how you know whether you’re making progress or falling off track. It’s this mapped trajectory toward your goals that keeps your agency focused–and for marketing agencies, focus equals growth, scalability, and more satisfied clients.

Unlike a traditional business plan, which is a lengthy and detailed formal pitch to investors, the one-page version is a scaled-back version of the same information distilled down to the essence of your business. You can use a one-page plan as a pitch document for certain investors or as the starting point when you write your formal document. But it can also serve as an internal document to keep you and your staff on target. As the name implies, it’s just one page long. 

From Shakespeare to Thomas Jefferson, a lot of smart people praise the power of brevity–and complain that it’s harder to be concise than it is to be long-winded. It may be a challenge to condense the expansive concepts of objectives, USP (Unique Selling Proposition), financial projections, etc., into one or two short, simple sentences. But persevere! There’s no room–and no need–for fluff. Your plan will be powerful because it’s short.

Can I Skip Writing One? 

Sure! You can skip this valuable exercise in the same way you can skip flossing–but it’s not smart in the long run.  

Many marketing agency owners or CEOs don’t get around to creating this living document because of three misconceptions. Raise your hand if any of the following concerns are the reasons you’ve delayed writing yours:

It’s going to be time-consuming to write 

It’s a ceremonial document that isn’t practical or useful  

It’s not your highest priority 

Let’s tackle each of these misconceptions.

1. It’s Going To Be Time-consuming To Write

You get to decide how much time you will invest in this project. You can weigh the cost of your time against defining what success looks like to your business and specifying how you will get there. You choose the amount of time that you think is appropriate. 

But think of it like that old adage “Measure twice, cut once.” The more time you spend understanding how you will achieve your agency goals, the better you will be able to envision your path forward. This could save you a lot of time–and costly mistakes–down the road.

2. It’s a Ceremonial Document That Isn’t Practical or Useful

This is going to sound a bit harsh: if that’s what you end up with, you didn’t do it right. (Don’t worry, if you follow this guide, that won’t happen.) A one-pager can–and should–provide important guidance for every aspect of your agency from daily operations and hiring to sales and customer retention.

3. It’s Not Your Highest Priority

When weighed against other urgent tasks and competing demands on your time, you may feel like your agency plan should go on the back burner. But how will you know if your staff is working on the right things to grow and scale your agency if you’ve never defined or documented your goals and milestones? Putting in the initial work to do this exercise can save your team from wasting time, effort, and resources later.

As Rob Da Costa said in his recent Agency Accelerator podcast , “We’re all really busy, but no one wants to be a busy fool.” 

The Benefits Of a One-page Business Plan

We wouldn’t ask you to read a blog about them if they weren’t important (just like your dentist doesn’t ask you to floss for the heck of it). We’re all about helping agencies produce quality work quickly and easily, not about persuading you to spend your limited time and resources doing busy work or vanity projects.

A business plan improves the decision-making abilities of the executive team by proactively answering some of the most critical questions you will face and acting as a rubric to assess performance. Business leaders, authors, marketing professors, and other experts all agree: having a plan that evolves with your business is a major differentiator between businesses with sustained growth and those that plateau. 

The reason is competitiveness. Without a strategy that specifies an agency’s competitive edge and defines a targeted market, that agency is eclipsed in a sea of generalized agencies. As world-renowned marketing expert Peter Levitan says, “you need to be unignorable.” Your one-page plan defines how you are unignorable.

What Should I Include in My One-page Plan?

OK, so by this point, you’re clear on what a one-page plan is and is not and why it’s a worthwhile exercise. Now let’s get into how to structure it.

Business plans typically include some or all of the following sections. A one-page plan could include them all or a selection or merge some ideas together. Peter Levitan recommends that you think of your one-page plan as a tool you would use if you were selling your agency: “I like the idea of having the idea of an eventual sale as a guide. How will you grow agency value–if only for a sale five years down the road?”

The Free One-page Agency Business Plan Template

We encourage you to start with this outline and adapt it to suit your needs.

One page agency business plan template preview

Download Your One-page Business Plan

Use this template as a living document for your agency's next move., how do i write one.

There’s no one-size-fits-all way to write a business plan. The method that will be most effective for you is as unique as your agency and is deeply rooted in context. Where you are in the agency lifecycle , what niche you serve, how many staff you have, and what you offer in your market–these all play a role in how you handle this task. 

Generally, when someone hears “business plan” it conjures up ideas of the visionary CEO alone in his or her office, coming up with the magical ideas that set their agency on a path to success. Sure, that’s one (totally valid) way to do it. But if you find this task too daunting, or find your solo draft lacking, let us suggest a few alternative processes.

Method 1: Co-create it with your trusted inner circle or your c-suite.  

This could be an offsite leadership meeting where you tackle big-picture questions for your agency. This is the best option for an agency with an experienced crew of executives at the helm. 

Method 2: Invite all staff to contribute ideas in a group brainstorm or a shared document.  

If you’re a new or small agency with bright employees and a flat organizational structure, consider allowing your staff to contribute to the vision and plan of your agency. Set expectations immediately that this is an idea-sharing exercise only and define who will have the final say on the strategic direction of your agency. 

You might be surprised at the insight you gain about the team itself. This is the best option for small but mighty agencies that pride themselves on their team culture.

Agency Tip: Considering a change to your org. chart? Read this article for the pros and cons of a traditional hierarchy versus a pod structure .

Method 3: Hire a consultant who specializes in business planning.  

While it may not be the cheapest choice, it may be the quickest and most effective. If you’re feeling particularly concerned about getting it “right”, there are professionals who can ask insightful questions and get to the heart of what your business is all about–and where it’s headed. This is the best option for an agency owner who sees the value of this exercise and wants to get it done quickly while ensuring quality.

Just as important as the initial writing of this plan is the rewriting . A one-page agency plan is meant to be a “living document”; that’s the only way it remains a useful waypoint for your employees and relevant for your agency as a whole. That means you can–and should–update it regularly, whether on a set schedule or when you’re on the cusp of big changes at your agency. 

Your agency–and this industry–is constantly evolving, and your business plan should not only reflect that but anticipate that. As Peter Levitan wrote, “Not having an updated plan that recognizes industry shifts is a bad idea that will most likely impede your revenue quest.” 

How Do I Use It at My Marketing Agency?

Whether or not you write this document alone, with your second-in-command, or with your entire team, make sure the end result is shared widely and often. A business plan that gets filed away on your computer, never to be seen again, is utterly useless. 

You’ll need to experiment until you land on the most effective communications methods that work for your agency. These will vary widely based on the size and maturity of your team, whether or not your staff works remotely, how frequently you meet, etc. But let these tips inspire you to look for ways to use your plan in the day-to-day running of your business. 

Read It in Meetings

Start meetings by reading a line or two from your business plan. These could be someone’s personal favorite, a random selection, or hand-picked by the meeting organizer based on relevance (e.g., quarterly financial review, read from the financial projections section).

Sign Your Emails With It

Use the best line from your business plan as your company-wide email signature.

Put It on Your Walls

Design posters or artwork that include keywords or phrases from your business plan. Hang them around the office, or mail mini versions (such as postcards, notepaper, or printed on water bottles or t-shirts) to your remote staff.

Use It in Your Online Workspaces

Provide digital versions of this artwork that staff can use as LinkedIn cover photos, desktop backgrounds, etc.

Make It Available

Create a “big picture” folder that’s accessible to everyone on your shared drive. In this folder, you should have PDFs of your business plan, your company values, your client profile(s) , your brand guidelines, and any other strategic information that every employee should use to guide their day-to-day work. 

Start–or End–Every Presentation With It

Create a slide (just one slide!) for your company’s branded PowerPoint template with the top takeaways.

Make It Part of Managing

Encourage the leaders in your company to review it often with their teams. Managers should help their direct reports connect goals, projects, and tasks directly to the plan and also compare performance against the business plan during performance reviews.

Review It Together

Host an annual or bi-annual company-wide meeting where you review the document and unveil any revisions (or workshop them as a team).

Use It for Hiring, Onboarding, and Training

Train your HR teams and hiring managers to include selections from your business plan in job postings and to work them into questions during interviews. Likewise, ensure training and onboarding includes practical examples of how your staff can use the plan in their work.

Start With a One-page Plan To Scale Your Agency

Are you a young agency, and the idea of a written plan makes you feel hemmed in? Are you a mature agency worried a business plan might kill your team’s flexibility or stifle their creativity? Are you concerned that your employees will raise their eyebrows when you change direction to capitalize on new opportunities or pivot to avoid obstacles? Don’t be. 

Research shows that the most successful businesses plan ahead, but they also adapt their plans as needed. So keep that document alive and update it regularly with small or big changes. 

So, if you’re an agency owner who has put off writing your business plan. A one-pager forces you to do the strategic thinking to answer important questions about how your agency will differentiate from competitors, target customers, and what milestones you’ll aim for on the road to success.

Ultimately, agency scalability and growth are about honing in on the unique skills and services that only you can provide and reaching the customers who specifically need your skillset. The one-page business plan is your GPS, keeping you on track to your goals . Plus, it provides a useful starting point for writing a traditional one, should you need one to approach investors.

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Elyse Gagné bio

Elyse Gagné develops branding and content strategies that unite businesses with their customers. A podcast junkie, you'll find her learning about the latest technologies and brand storytelling techniques while she gardens or hikes.

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Staffing Agency Business Plan

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As the job market becomes increasingly competitive, businesses are looking for innovative ways to attract and retain top talent. It is where your staffing agency will become profitable.

Are you looking to start writing a business plan for your staffing company? Creating a business plan is essential to starting, growing, and securing funding for your business. We have prepared a staffing agency business plan template for you to help in start writing yours.

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Free Staffing Agency Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

  • Fill in the blanks – Outline
  • Financial Tables

How To Write A Staffing Agency Business Plan?

Writing a staffing agency business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the whole business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, mention your services:, management team:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon..

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2. Business Overview

Depending on what details of your business are important, you’ll need different elements in your business overview, But there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

  • The name of the staffing agency and the type of agency you want for example are you writing it for a nurse staffing agency, medical staffing agency or any direct hiring firm.
  • Company structure of your staffing agency whether it is LLC, partnership firm, or some other.
  • Location of your staffing company and the reason why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your recruitment business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your Recruitment agency business plan:

  • Use a variety of sources to gather data, including industry reports, market research studies, and surveys.
  • Be specific and provide detailed information wherever possible.
  • Include charts and graphs to help illustrate your key points.
  • Keep your target audience in mind while writing the business plan

4. Products And Services

The product and services section of a staffing company business plan should describe the specific services and products that will be offered to customers. To write this section should include the following:

List the services:

  • Create a list of the services that your staffing agency will offer, which may include all the services for example, will the agency offer temporary staffing, temp-to-perm staffing, direct hire placement, or a combination of these services?
  • Describe each service: For each service, provide a detailed description of what it entails, the time required, and the qualifications of the professionals who will provide the service. For instance, do you need a full-time HR or some other personnel specific for interviews?

Screening and Placement Process:

Overall, the product and services section of a recruitment firm business plan should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key points to include in your marketing plan:

The partnership is a blessing:

Have a competitive fee structure:, marketing strategies:, customer retention:.

Overall, the sales and marketing strategies section of your business plan should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s important to consider the various aspects of your business operations. Here are the components to include in an operations plan:

Hiring plan:

Operational process:, client management:.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your staffing business.

7. Management Team

The management team section provides an overview of the individuals responsible for running the staffing agency. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Key managers:

Organizational structure:, compensation plan:, board of advisors:.

Describe the key personnel of your company and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan , it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections, and to provide supporting evidence for all of your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

  • Include a table of contents for the appendix section to make it easy for readers to find specific information.
  • Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
  • Provide market research data, such as statistics on the size of the staffing industry, consumer demographics, and trends in the industry.
  • Include any legal documents such as permits, licenses, and contracts.
  • Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
  • Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your employment agency business should only include relevant and important information that supports the main content of your plan.

Download a sample staffing agency business plan

Need help writing your business plan from scratch? Here you go; download our free staffing agency business plan pdf to start.

It’s a modern business plan template specifically designed for your staffing agency business. Use the example business plan as a guide for writing your own.

The Quickest Way to turn a Business Idea into a Business Plan

Fill-in-the-blanks and automatic financials make it easy.

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This staffing agency business plan sample will provide an idea for writing a successful staffing agency business plan, including all the essential components of your business.

After this, if you are still confused about how to write an investment-ready staffing business plan to impress your audience, then download our staffing agency business plan pdf.

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Frequently asked questions, why do you need a staffing agency business plan.

A business plan is an essential tool for anyone looking to start or run a successful recruitment business. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your staffing agency.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your agency.

How to get funding for your staffing agency business plan?

There are several ways to get funding for your staffing business, but one of the most efficient and speedy funding options is self-funding. Other options for funding are

  • Bank loan – You may apply for a loan in government or private banks.
  • Small Business Administration (SBA) loan – SBA loans and schemes are available at affordable interest rates, so check the eligibility criteria first before you can apply for it.
  • Crowdfunding – The process of supporting a project or business by getting a lot of people to invest in your staffing agency, usually online.
  • Angel investors – Getting funds from angel investors is one of the most sought options for startups.
  • Venture capital – Venture capitalists will invest in your business in exchange for a percentage of shares, so this funding option is also viable.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your staffing agency business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your employment agency business plan and outline your vision as you have in your mind

What is the easiest way to write your staffing agency business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any staffing agency business example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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Download Staffing Agency Business Plan

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How to Start a Staffing Agency: A Comprehensive Guide

In this guide, we will walk you through everything you need to know before launching your own staffing agency, even from a tech perspective. From establishing your business framework to integrating technological tools that streamline your operations, we’ve got you covered. Together, we’ll navigate through the essentials, ensuring that you’re well-equipped to start your own successful staffing agency, adeptly connecting employers and prospective employees.

What is a staffing agency?

How do staffing agencies work, starting your own staffing business, key statistics on staffing agencies in 2024.

  • Types of staffing agencies

Business benefit of starting your own staffing agency

How to start a staffing agency in 10 steps, how much does it cost to start a staffing agency, key metrics to track when starting an online staffing agency, staffing agencies vs. talent acquisition platforms, building a new application or extending your development team.

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A staffing agency is a business that specializes in connecting jobseekers with employers looking to fill specific roles.

When a company has a vacancy, instead of advertising the position themselves, they may engage a staffing agency to manage the hiring process.

The agency will source candidates, handle applications, and often conduct initial interviews, presenting the company with a shortlist of potential hires.

For candidates, a staffing agency provides assistance in finding positions that match their skills and career aspirations. They can submit their resume to the agency, which will seek out suitable job openings on their behalf.

Their primary role is to match the right candidate with the right role. They ensure that the needs of both parties are effectively met.

The process of acquiring an employee through a staffing agency typically involves several key steps.

Note that different industries or role may need additional steps.

staffing agency

Here’s a general overview of a staffing agency process in 10 steps:

1. Client requirement analysis:

  • Understanding needs : The agency works with the client company to understand the specific requirements for the open position, including skills, experience, and other relevant attributes.
  • Contract agreement : The agency and the client agree on terms, including fees, responsibilities, and other particulars related to the hiring process.

2. Job posting and promotion:

  • Creating job listings : The agency creates detailed job listings based on the client’s requirements.
  • Promotion : The job listing is promoted through various channels, such as job boards, social media, and the agency’s own network to attract potential candidates.

3. Candidate sourcing and screening:

  • Sourcing candidates : The agency identifies potential candidates through various sources like databases, networks, and job platforms.
  • Screening : Applications are reviewed, and candidates are screened based on their skills, experience, and fit for the role.

4. Initial interviews and assessment:

  • Conducting interviews : The agency conducts initial interviews to further assess the candidates’ suitability.
  • Skill assessment : Depending on the role, candidates might undergo skill assessments or technical tests.

5. Shortlisting and client review:

  • Creating a shortlist : The agency selects the most suitable candidates and creates a shortlist.
  • Client review : The shortlisted candidates are presented to the client for review and further evaluation.

6. Client interviews and selection:

  • Further interviews : The client conducts their own interviews with the shortlisted candidates.
  • Selection : The client selects a candidate and communicates their choice to the staffing agency.

7. Job offer and onboarding:

  • Job Offer : The agency extends a job offer to the selected candidate on behalf of the client.
  • Onboarding assistance : The agency, depending on the company, may assist with the onboarding process, ensuring a smooth transition for the candidate into their new role.

8. Follow-up and feedback:

  • Performance check : The agency may conduct follow-up checks with both the client and the candidate to ensure satisfaction on both ends.
  • Feedback : The agency collects feedback to understand the efficacy of the recruitment process and make any necessary adjustments in the future.

9. Payment and Billing:

  • Invoicing : The agency sends an invoice to the client for the recruitment services provided.
  • Payment : Upon successful placement and depending on the agreement, the client pays the agency based on the agreed-upon fee structure.

10. Ongoing relationship management:

  • Maintaining relationships : The agency maintains relationships with both the client and the candidate for future opportunities and placements.
  • Continuous support : The agency may provide ongoing support to ensure the placement is successful and address any issues or concerns.

If you’re considering starting your own staffing agency, you’ll be stepping into a role that bridges the gap between employers and potential employees.

Your business will involve identifying skilled candidates, understanding their career goals, and matching them with companies that have corresponding needs.

It’s a business that requires strong networking, effective communication, and a keen understanding of various industries and job markets.

Your revenue will typically come from the employers, who pay a fee once a candidate you provided is successfully hired.

Thus, your dual role in a staffing company involves supporting individuals in their career journey and aiding companies in finding the right talent efficiently.

[Read also: How to Start Real Estate Business in 2023 ]

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Global Expenditure on Digital Transformation

Projected Growth in Investment : By 2026, it’s expected that global investment in digital transformation technologies and services will reach a staggering $3.4 trillion USD, highlighting the increasing importance of digital innovation for business competitiveness.

Rankings in Digital Competitiveness

  • Denmark’s Digital Leadership : Currently, Denmark is recognized as the leading country in digital competitiveness, demonstrating the benefits of early and strategic adoption of digital technologies.
  • Global Adoption of Cloud Technologies : Cloud extensions are a popular method for digital transformation worldwide, offering businesses enhanced flexibility and growth potential.

Evolution of the Workplace

Significant Market Expansion : The marketplace for transforming workplaces is predicted to grow considerably by 2030, reflecting the shift towards more digitally integrated and flexible work environments.

Focus on Artificial Intelligence Investment

Growing Budgets for AI : In recent years, a significant portion of businesses have been allocating more than 5% of their digital budgets to AI, with many planning to increase this investment in the coming years.

Economic Contributions of Digital Transformation

Impact on Global GDP : Digitally transformed businesses are expected to constitute over half of the global GDP by 2023, totaling approximately $53.3 trillion, with the majority of the world’s GDP becoming digitized.

The Increasing Need for Digital Skills

Rising Demand in the Job Market : Jobs requiring digital skills are becoming more prevalent, accounting for a significant percentage of online job postings in various countries.

Future Projections for 2024

Emphasis on Augmented Intelligence : Predictions for 2024 emphasize the growing influence of augmented intelligence (GenAI) in areas such as personalization, automation, and data-driven strategies.

Source: Staffing Industry Analysts , American Staffing Association .

9 types of staffing agencies

The staffing agency industry is a very broad one.

Therefore, as you plan to establish your own staffing firm, it’s crucial to examine various types of staffing companies. This will enable you to select the one that promises the highest profitability.

Later in this article, we will guide you through the essential steps to take when starting a staffing agency. But first, let’s take a closer look at the different types of staffing industry to help you navigate in the right direction.

1. Traditional employment agency

Traditional staffing firms serve multiple sectors and provide candidates for a variety of roles without specialising in a particular niche. They manage large databases of candidates and employers, facilitating cross-industry matches.

Pros : A broad client base and a wide range of job openings can provide steady business and revenue.

Cons : The lack of specialization may result in facing competition from niche agencies that offer specialized talent.

2. Contingency employment agencies

Operating on a “no win, no fee” model, these agencies are compensated only when a candidate they propose is successfully hired. They often manage multiple client assignments at once, presenting candidates to numerous employers.

Pros : The payment-on-success model can be attractive to clients, and working with multiple clients simultaneously can diversify revenue streams.

Cons : The pressure to fill positions quickly to secure payment may sometimes compromise the quality of placements.

3. Temporary staffing agency

These agencies supply temporary staff for short-term assignments, covering roles during employee absences, peak seasons, or specific projects. They manage contracts and payroll for temporary staff.

Pros : Consistent demand for temporary staff and the ability to place the same candidate in multiple assignments can ensure steady income.

Cons : Managing high turnover and ensuring a constant supply of available temporary workers can be challenging.

4. Direct hire employment agency

These agencies focus on sourcing candidates for permanent roles, often involving a thorough recruitment and selection process to ensure long-term fit.

Pros : Typically, direct hires involve higher placement fees and the potential for stable, long-term client relationships.

Cons : The recruitment process can be lengthy and resource-intensive, requiring thorough vetting and assessment.

5. Permanent placement employment agency

These agencies specialize in securing candidates for permanent positions, ensuring that both the employer’s and candidate’s long-term goals align.

Pros : Establishing successful long-term placements can build a strong reputation and foster ongoing client relationships.

Cons : The extensive vetting and matching process requires significant time and resources.

6. Recruitment process outsourcing (RPO)

RPO agencies manage the entire recruitment process on behalf of a client, acting as an extension of the client’s HR department.

Pros : Offering a comprehensive service can secure long-term contracts and consistent revenue.

Cons : Requires a substantial operational setup and expertise in managing end-to-end recruitment processes.

7. Specialized staffing agency

These agencies focus on a specific industry or role, offering deep expertise and a specialized talent pool.

Pros : Niche focus can attract specific clients and command higher fees.

Cons : Dependence on the health and demand of a specific sector.

8. International staffing agency

Facilitates placements across countries, navigating various international employment laws and practices.

Pros : Access to a global talent pool and international markets.

Cons : Complexity in managing varied employment laws and cultural practices.

9. Remote staffing agency

Specializes in placing remote workers, catering to the growing demand for remote positions across various sectors.

Pros : Meeting the rising demand for remote work and accessing a wide candidate pool.

Cons : Ensuring effective remote recruitment, onboarding, and management processes can be challenging.

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Starting a staffing agency can offer a range of business benefits, especially if you have expertise in a particular industry or sector.

We created a list of potential benefits for you when starting a staffing agency.

High demand for staffing services

  • Market relevance: Various industries require temporary or permanent staff, ensuring that staffing agencies are always in demand.
  • Diverse clientele: You can serve multiple sectors, such as IT, healthcare , and finance , providing a wide range of opportunities.

Profitability

  • Revenue streams: You can have multiple revenue streams, including earning commissions from placed candidates and charging clients for your services.
  • Low overhead costs: Once established, staffing agencies can operate with relatively low overhead, potentially increasing profit margins.

Flexibility

  • Business model adaptability: The ability to adapt your business model to cater to different industries and market changes.
  • Remote possibilities: The possibility to manage many aspects of the business remotely or through virtual platforms.

Building networks

  • Expanding connections: Establishing relationships with various businesses and professionals.
  • Industry influence: The potential to become an influential player in the industries you serve by connecting businesses with top talent.

Contributing to career growth

  • Enabling careers: Playing a pivotal role in helping individuals find jobs and build their careers.
  • Skill development: Assisting individuals in identifying and developing their skills to meet market demands.

Economic contribution

  • Supporting economies: Contributing to the economy by facilitating employment and supporting businesses in their growth.
  • Reducing unemployment: Actively participating in reducing unemployment rates by connecting job seekers with relevant opportunities.

Technological advancements

  • Leveraging technology: Utilizing advanced technologies like AI and data analytics to streamline recruitment processes and enhance service delivery.
  • Digital presence: Establishing a strong online presence, making it easier to connect with clients and candidates globally.

Creating employment

  • Job creation: Your agency will not only help others find jobs but also create employment within your own organization.
  • Team development: Building a team that can contribute to the growth and success of your agency.

Step 1: Craft a solid business plan

Developing a comprehensive business plan plan is pivotal. Identify your niche, conduct thorough market analysis, and establish a clear financial plan. Define your services, competitors, target market, and unique selling propositions to position your agency effectively in the market.

Step 2: Navigate legal and compliance requirements

Ensure your agency is set up as a legal business entity by registering your own business and adhering to employment laws. Creating comprehensive contracts for clients and candidates from the outset will safeguard your agency from potential future legal challenges.

Step 3: Build a marketing strategy and a strong brand identity

Your agency’s name, logo, and overall branding should resonate with your target market and marketing strategy. Develop a professional website and employ a strategic marketing plan to enhance visibility and attract your initial set of clients and candidates.

Step 4: Choose the right staffing agency software

Selecting appropriate staffing software is crucial. Ensure it meets your agency’s needs and can scale as your business grows. Also, evaluate options based on features like candidate tracking, job order management, and reporting capabilities.

Choosing the right software is a challenging task. You can select from out-of-the-box tools and custom solutions . Each scenario has its pros and cons. Out-of-the-box solutions requires a quick implementation and are cost-effective since they usually have user-based pricing and are ready to use. However, ready-made solutions impose some limitations when it comes to personalization , which is crucial for this kind of business.

On the other hand, custom software solutions take more time to develop but are tailored to your specific needs , scale as your business grows and give you full control and ownership of the software , including data management .

There is a third option to consider, which combines the advantages of ready-made solutions and custom software development .

You can build custom staffing agency software with a fast development service offered by some custom development companies. Thanks to low-code elements , you can speed up the development process , which also means saving money.

The biggest benefits of this solution are:

  • Unlimited personalization features;
  • Standing out and gaining a huge competitive advantage;
  • Code ownership;
  • Cost-effectiveness;
  • A fast development process.

Learn more about the potential of rapid software development. Schedule your free consultation call today and let us navigate you through our innovative fast software development services.

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Here are the key features to look for when choosing staffing agency software:

Customization

Allows staffing agencies to tailor the software according to their unique needs and operational workflows. This adaptability not only enhances user experience but also ensures that dashboards, reports, and interfaces are tailored to provide maximum usability and efficiency for your team.

AI-driven features

In 2023, introducing a layer of intelligent functionality is a must for every kind of application. AI can, for example, enable the software to adeptly match candidates with suitable job opportunities and utilize predictive analytics to forecast hiring and HR trends .

This AI integration not only streamlines the recruitment process but also provides valuable insights to inform strategic decision-making.

High-performance

In staffing agency software ensures that operations are conducted swiftly and reliably, enhancing user experience and ensuring operational efficiency.

The emphasis is on ensuring that the software consistently performs optimally , minimizing downtime and avoiding disruptions in agency workflows.

Automation and custom workflow

Capabilities enable the staffing agency to automate repetitive tasks, such as communication and scheduling, while also allowing the customization of workflows.

This ensures a streamlined approach to recruitment and client management processes, saving time and reducing the scope for error.

Reporting and analytics

Features provide data-driven insights by generating advanced reports that analyze various metrics, including performance and client retention. These analytical data not only serve as a performance review but also act as a guide to enhance strategic and operational decisions.

Integration capabilities

Ensure that the software can seamlessly connect with various platforms, such as job boards and social media, thereby streamlining operations. Furthermore, API utilization allows the software to integrate with other tools and systems, providing a cohesive technological ecosystem within your agency.

Compliance management

It is vital to ensure that the software supports compliance with employment legislation and industry standards. It also ensures that detailed audit trails are maintained, providing a transparent record of actions and changes within the software to ensure accountability and compliance.

Data security

It is important to ensure that sensitive data, such as candidate and client information, is safeguarded through robust security protocols. Additionally, ensuring that data transmitted across networks is encrypted protects it from unauthorized access and potential breaches.

Project and task management

Make sure your software has features that help with effective management and assignment of tasks. With this funciontality, you will be able to monitor project progress, allocate resources appropriately, and ensure that delivery aligns with client expectations, thereby ensuring project success.

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Step 5: Develop a strategic recruitment approach

Formulate a recruitment strategy that encompasses effective candidate sourcing , screening, and management. Utilize your staffing software to maintain a dynamic database of job candidates, ensuring you can quickly match talent with client needs.

Step 6: Acquire clients through targeted efforts

Identify and reach out to potential clients, offering tailored staffing solutions. Engage in networking, create compelling proposals, and leverage testimonials and case studies to showcase your agency’s capabilities and build credibility.

Step 7: Set up operational infrastructure

Establish your office space, whether physical or virtual, and build a team that aligns with your agency’s mission and services. Ensure your management setup is efficient for your daily business operations, with clear roles and responsibilities defined for your team members.

Step 8: Ensure excellence in service delivery

Implement structured client onboarding processes and utilize your staffing software to efficiently fulfill staffing needs. Use staffing software to gather and address feedback, ensuring continuous improvement in service delivery.

Step 9: Implement continuous improvement mechanisms

Regularly analyze your agency’s performance, identifying areas for improvement. Utilize data from your staffing software to make informed decisions and enhance your services, ensuring they consistently meet client and candidate expectations.

Step 10: Manage and enhance client relationships

Focus on client retention through excellent service, regular communication, and value-added services. Utilize your staffing software to manage client information, ensuring personalized and timely interactions.

Starting a staffing agency involves various financial aspects, including initial investments, ongoing expenses, and operational costs, each playing a crucial role in shaping the agency’s financial health and sustainability.

Initial investment

The initial investment to start a staffing agency can vary widely depending on the scale, location, and niche of the agency. This encompasses costs related to:

  • Office space (rent or purchase)
  • Equipment (computers, phones, furniture, etc.)
  • Licensing and registration fees
  • Insurance premiums
  • Marketing and branding (website, promotional materials, etc.)

Ongoing expenses

Recurrent costs that the agency will incur to maintain its operations include:

  • Monthly rent and utility bills
  • Salaries of internal staff
  • Marketing and advertising costs
  • Technology and software subscriptions
  • Travel and transportation expenses
  • Office supplies and miscellaneous costs

Operational costs

Expenses related to the core operations of the staffing agency, such as:

  • Candidate sourcing (job boards subscriptions, recruitment marketing, etc.)
  • Background checks and verification processes
  • Training and development programs for internal staff and candidates
  • Networking and relationship-building activities (events, memberships, etc.)

Payroll financing

Payroll financing is a critical aspect, especially considering that staffing agencies often need to pay temporary workers before clients make payments. This involves:

  • Ensuring that candidates are paid on time, regardless of client payment schedules
  • Potentially utilizing payroll financing services or credit to manage cash flow
  • Managing taxes, benefits, and other payroll-related expenses

Fees and commissions

In the staffing industry, fees and commissions are crucial revenue streams and involve:

  • Client fees: Staffing agencies typically charge employers a fee, which can be a flat rate or a percentage of the hired candidate’s annual salary.
  • Candidate commissions: Some agencies might charge candidates a fee, often a percentage of their salary, especially in certain niches like entertainment or modeling.
  • Markup rates: Agencies providing temporary staff usually add a markup to the hourly rate paid to the temporary staff, which is then billed to the client.

Additional considerations

  • Legal and compliance costs: Ensuring adherence to employment laws and industry regulations, which might involve legal consultations and compliance management expenses.
  • Technology investments: Implementing staffing agency software and other technological tools to streamline operations and enhance service delivery.

Starting an online staffing agency involves keeping a keen eye on various metrics to ensure the business is moving in the right direction. Here are some key metrics that are pivotal to track:

Candidate acquisition metrics

  • Application rate: Number of applications received per job posting.
  • Source of hire: Identifying which platforms (job boards, social media, etc.) are bringing in the most candidates.
  • Time to hire: The duration between posting a job and hiring a candidate.

Client acquisition metrics

  • Client conversion rate: The ratio of leads that convert into paying clients.
  • Client acquisition cost: The total cost involved in acquiring a new client, including marketing and sales expenses.
  • Client retention rate: The percentage of clients who continue to use your services over a specific time period.

Financial metrics

  • Revenue: Total income generated from client fees and commissions.
  • Profit margin: The net profit of the agency after deducting all expenses.
  • Return on investment (ROI): Evaluating the profitability of investments made in marketing, technology, etc.

Operational efficiency metrics

  • Job order to placement ratio: The number of job orders compared to successful placements.
  • Submission to hire ratio: The number of candidate submissions compared to successful hires.
  • Fill rate: The percentage of job orders that the agency successfully fills.

Candidate and client satisfaction

  • Net promoter score (NPS): Measuring the willingness of clients and candidates to recommend your agency to others.
  • Feedback and reviews: Analyzing feedback from clients and candidates to gauge satisfaction and identify areas for improvement.
  • Quality of hire: Evaluating the performance and retention of placed candidates.

Technology and online presence metrics

  • Website traffic: Monitoring the number of visitors and interactions on your agency’s website.
  • Engagement on social media: Tracking likes, shares, and comments on your social media posts.
  • Email marketing performance: Analyzing open rates, click-through rates, and conversion from email campaigns.

Compliance and legal metrics

  • Compliance rate: Ensuring that the agency adheres to industry regulations and employment laws.
  • Legal disputes: Tracking any legal challenges or disputes involving the agency.

Employee performance metrics

  • Recruiter efficiency: Measuring the number of placements made by each recruiter.
  • Employee satisfaction: Gauging the job satisfaction and engagement levels of your internal staff.
  • Employee turnover rate: Monitoring the rate at which internal staff leave and are replaced.

Market trends and analysis

  • Industry demand: Keeping track of the demand for staffing services in your specialized sectors.
  • Market share: Understanding your agency’s position and share in the staffing market.

Monitoring these metrics provides a comprehensive overview of the agency’s performance, highlighting areas of success and pinpointing aspects that may require attention or improvement.

Utilizing a robust staffing agency software can assist in tracking and analyzing these metrics effectively, thereby supporting informed decision-making and strategic planning.

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What makes a staffing agency different from popular online hiring platforms?

It can get a bit tricky!

So, we’re here to help make things clear.

First, we’ll give you a quick and easy explanation of each type of hiring service. And don’t miss our handy table below—it breaks down the main differences to help you figure out which option might be best for your next hiring adventure.

  • Staffing Agency : Traditional model, provides candidates for permanent or temporary roles. High control over hiring.
  • Freelance Marketplaces : Platforms like Upwork, focus on connecting freelancers with businesses for short-term projects.
  • Professional Networking & Job Boards : LinkedIn and Indeed focus on professional connections and job postings, respectively.
  • Gig Economy & Specialized Staffing : Platforms like Uber or Toptal provide short-term work or specialized talent.
  • Remote Work Platforms : Platforms like Remote.co focus on listing remote work opportunities.
  • Project-based Collaboration : Guru is an example where businesses and freelancers collaborate on specific projects.
  • Virtual Assistant Platforms : Belay and similar platforms connect businesses with virtual assistants for administrative tasks.
  • Recruitment Process Outsourcing (RPO) : Outsourcing of all or part of the recruitment processes to an external service provider.

Each platform type has its unique features and is suitable for different hiring needs and structures. The choice between them would depend on the specific requirements, budget, and scale of the hiring entity.

Today, we’ve learned key steps to start a staffing agency. This guide emphasizes understanding the staffing industry, picking a niche, and ensuring legal compliance right from the start. It stresses the need to create a detailed business plan covering finance, operations, marketing, and risk management. Developing a strong brand and using digital platforms for marketing and acquiring clients are also highlighted. We have also discussed the importance of using staffing software to streamline operations and focused on how to build relationships with clients and candidates, providing quality service, and sticking to ethical and legal standards for sustainable growth.

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  • AGENCY MASTERY

How to Create an Agency Business Plan That Works

By Jason Swenk on January 6, 2020

Are you thinking of starting an agency, but are not sure where to start? Do you have a business model but are struggling to find your core values? In today’s market, starting a digital agency can be an exciting and prosperous opportunity. Knowing your brand’s message and how to share it with others is the key to standing out and not be another “me too” agency.

In today’s episode, we’ll cover:

  • How to find and retain agency employees.
  • #1 key to creating an agency business plan.
  • How to find your agency’s true north.

Today, I got the opportunity to sit down with Jonathan Peischl, co-owner of SPLICE Agency . Jonathan started his career as a medical writer, but quickly realized he was destined for the digital ad agency world. After a couple of moves (and a major move across the United States), Jonathan and his business partners realized the companies they were working for were missing a few key components necessary for the industry to survive. Together, the four men created a business plan that has transformed SPLICE from a four-man operation to a company of over 30 employees in just three years. Find out Jonathan’s keys to success here.

How to Find and Retain Agency Employees

When you are creating a business, your employees are going to be one of the key components of your businesses’ success. It doesn’t matter how great you are at everything else, if your employees are constantly jumping ship for the next bright and shiny opportunity, your agency is going to sink, fast . So how do you make your employees want to work with you?

It begins with culture. Promote a culture you want to live by. Jonathan says he wants his employees to have time to pursue their passions. Whether this means letting your employees work from home or leave early to pick up their kids, show your employees that you value their creative input, as well as their lives outside of the business. Really live by this culture. Don’t just put it on a whiteboard and be done with it. Creating culture employees want to work in requires care and feeding every day. It begins with great leadership promoting your company’s values.

#1 Key to Creating an Agency Business Plan

The thing about digital agencies is many begin without a solid business plan in place. They start the business and then five years later create a business plan. If you are going into a startup trying to create a business plan from scratch, you want a plan that sets you up for success. The number one way to do this is to develop a plan that works well for both your clients and your team. Once you have your philosophy, you surround it with a set of core values for which you want your company to stand by. When you balance your vision of what you what for your business with what you provide your clients, you will always be able to find your true north.

How to Find Your Agency’s True North

Your true north is where you want your business to grow — where your vision should be focused every day. But how do you find your true north? How do you know what direction is the right direction? It all begins with soul searching.

  • Cleanse yourself from the processes of past employers : It’s so easy to get caught up in values and ideas from previous companies and leaders. To find your true north, you need to really sit down and think about what’s important to you.
  • Find what makes you stand out from your competitors : You won’t always be able to compete on price or cash flow, so it’s important that your values and offerings stand out from the crowd. What can you provide that no one else can? How can you position yourself beyond just a commodity?
  • Gut check yourself : You don’t want to come up with a vision or idea that is so lofty that nobody can pull it off. That’s a way to set yourself up for failure. You have to keep your feet on the ground to some degree.

Your true north and guiding values will be a key to your success as an agency. If you can’t provide a product or service you are proud of and work for a company you enjoy working for, you’re never going to find true success. When you begin with a solid vision and business plan, the opportunity to grow bigger and better will always exist.

#1 PODCAST for Agency Owners , SCALE your AGENCY

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Staffing Agency Business Plan Example

JAN.10, 2024

Staffing Agency Business Plan

What Does the Staffing Agency Mean?

A staffing agency, also known as a recruitment agency, employment agency, or temp agency, is a business that connects companies looking to hire temporary or permanent employees with qualified candidates looking for job opportunities. As per an HR consultant business plan to grow a staffing agency, staffing agencies focus on recruiting, screening, and placing workers in various roles across different industries. A staffing agency can also offer other services, such as payroll, training, background checks, and performance evaluations.

A staffing agency can operate in different ways, depending on the service it provides. Some common types of staffing agencies are:

  • Temporary staffing agency
  • Contract staffing agency
  • Permanent staffing agency

Refine Your Strategy for Building Your Staffing Agency Business

To write a recruitment agency business plan, you need a clear strategy. Your strategy should include your vision, mission, goals, values, target market, niche, and competitive advantage. These are some questions to guide your strategy:

  • Vision – What impact do you want in the industry and society?
  • Mission – Why does your business exist, and how will you achieve it?
  • Goals – What are your short-term and long-term objectives, and how will you measure them?
  • Values – What are the principles that drive your actions and decisions?
  • Target market – Who are the employers and workers you want to serve, and what are their needs and preferences?
  • Niche – What segment or industry do you want to specialize in?
  • Competitive advantage – What makes you different and better than your competitors?

Your strategy will help you structure your business plan for a staffing agency company. A business plan, like a headhunter business plan , is a document that outlines your business details, such as your products and services, market analysis, marketing plan, operations plan, management team, and financial plan. A temporary staffing agency business plan can help you share your vision, get funding, find partners, and grow your business.

Here are the main sections of a staffing agency business plan template and what they should include:

Executive Summary

This sample business plan for staffing agency is for StaffSpur, an Austin-based staffing agency for the IT sector, founded in 2024 by Hana Doe, an experienced IT professional. StaffSpur links IT talent with opportunity. StaffSpur offers staffing services to employers of all stripes. For workers at any career stage, StaffSpur provides career coaching, resume help, interview prep, feedback, and training.

StaffSpur has an IT edge and network and uses advanced technology to match candidates and opportunities and ease the hiring process. It aims to be the best IT staffing agency in Texas, to go global, and to impact the IT community and society positively. StaffSpur’s financial summary shows a low startup cost of $50,000, a breakeven point of 6 months, projected revenue of $1.5 million, and a profit of $300,000 in the first year.

Company Overview

StaffSpur is an Austin, Texas-based IT staffing agency founded in 2024 by Hana Doe, an IT professional with over ten years of experience. Hana saw a gap in quality, personalized IT staffing services. Hana started StaffSpur to serve employers and workers in the sector. Since launching, StaffSpur has grown to over 100 clients and 500 candidates with positive feedback.

StaffSpur is a sole proprietorship LLC run by Hana Doe, the CEO/manager. She leads the strategy, vision, marketing, sales, and customer relations and has a team of 5 for staffing services. Tapping into Austin’s booming tech scene fuels StaffSpur’s competitive edge – abundant talent and opportunities at their doorstep.

Industry Analysis

The US national temp/contract staffing sales amounted to $144.2 billion, with over 37,000 estimated staffing offices in the US ( American Staffing Association ). The industry has grown 3% annually, driven by economic recovery and trends like the gig economy.

According to IBISWorld , the Employment and Recruiting Agencies industry in Texas is on the rise which the following numbers showcase clearly:

  • Texas Market Size: $3.1 bn
  • Number of Businesses in Texas: 1,190
  • Texas Industry Employment: 29,788

The Austin metro area has a thriving, diversified economy that drives talent demand across sectors like technology, real estate, healthcare, government, and construction. Unemployment is 4.1% ( Federal Reserve Bank of Dallas ), indicating a strong labor market.

While substantial competition exists for high-volume administrative roles, few staffing firms focus specifically on specialist IT placements. This represents an attractive niche opportunity that StaffSpur will capitalize on through our experience and networks.

Customer Analysis

StaffSpur’s target market consists of:

  • IT employers

IT Employers

IT employers are companies needing IT talent for projects or operations. StaffSpur works with small, large, startup, and established firms. StaffSpur provides temporary, permanent, or temp-to-perm staffing services based on employer needs.

IT employers have these needs:

  • Finding qualified, skilled IT talent
  • Saving time and money by outsourcing hiring
  • Improving quality and performance by hiring the best talent

IT employers prefer:

  • Competitive pricing with quality and value.
  • Highly skilled, experienced workers with relevant credentials.
  • Fast, efficient services for timely hiring.
  • Reliable, professional services following agreed terms.

IT employers:

  • Rely on StaffSpur to source and screen candidates.
  • Expect regular, transparent updates from StaffSpur on hiring.
  • Decide who to hire based on StaffSpur’s recommendations.

IT workers are the technical professionals that StaffSpur helps find jobs. StaffSpur works with IT professionals across various specializations. StaffSpur offers IT workers temporary, permanent, or temp-to-perm job placements based on their preferences.

IT workers have these needs:

  • Finding challenging and meaningful work
  • Developing their careers by working on innovative projects
  • Earning competitive compensation and benefits
  • Working for reputable companies that provide growth opportunities

IT workers prefer:

  • Access to a range of job opportunities.
  • Guidance on finding the best roles based on their career goals.
  • Help preparing for interviews and negotiating offers.
  • Smooth onboarding experience at new companies.

IT workers:

  • Rely on StaffSpur to source relevant openings.
  • Expect regular updates on job search progress from StaffSpur.
  • Decide which jobs to pursue based on various factors.

Competitive Analysis

StaffSpur faces competition from both direct and indirect competitors in the staffing industry. Some of the main competitors are:

  • Direct competitors – These are staffing agencies that focus on the IT sector, such as Techstaff, IT Works, and Initech who provide similar staffing services to StaffSpur, but they have drawbacks, such as high prices, low quality, slow speed, unreliable, or poor reputation.
  • Indirect competitors – These are businesses that offer different staffing solutions to the IT sector, such as online platforms, freelance networks, or in-house recruitment who provide diverse staffing services to StaffSpur, but they have problems, such as low security, less flexibility, complexity, or less support.

StaffSpur stands out with its IT sector expertise and network of IT professionals and companies that help in improving matching candidates and simplify hiring.

Marketing Plan

StaffSpur is a leading IT staffing agency in Texas with a large and loyal customer base. StaffSpur’s marketing strategy aims to:

  • Boost brand awareness and reputation among Texas IT employers and workers.
  • Attract and retain more customers and candidates through referrals and conversions.
  • Foster long-lasting, mutually beneficial relationships with customers and candidates.

StaffSpur’s marketing mix includes:

  • Product – Offers temporary, permanent, and temp-to-perm staffing. Also provides career coaching, resume writing, and interview prep. Caters to IT employers’ and workers’ needs, delivering value and quality.
  • Price – Charges fair, competitive fees or commissions based on worker salary or employer budget. Gives discounts and incentives like free trials, referrals, and loyalty programs.
  • Place – Based in Austin with access to the large, diverse local IT market. Uses online platforms like its website, social media, email, and chat to reach and serve customers remotely.
  • Promotion – Communicates services, benefits, and brands through online and offline channels. Relies on word-of-mouth, referrals, testimonials, and reviews to build trust and generate buzz.

StaffSpur’s marketing budget is $150,000, 10% of its projected revenue in the first year. StaffSpur’s marketing budget has three parts:

  • Online marketing: $75,000
  • Offline marketing: $45,000
  • Marketing research and evaluation: $30,000

Operational Plan

StaffSpur’s operations plan is how it runs and manages its IT staffing business, using the best practices and standards in the industry. StaffSpur’s operations plan has one component:

  • Business processes – StaffSpur’s business processes are the steps it takes to provide staffing services. The four stages are:
  • Sourcing: Finding and attracting IT workers and employers through online platforms, referrals, and events.
  • Screening: Checking and assessing IT workers and employers through interviews, tests, and background checks.
  • Placing: Matching and connecting IT workers and employers, assisting with hiring and placement like contracts, agreements, and payments.
  • Managing: Supporting and monitoring IT workers and employers, providing feedback, training, and solving any issues.
  • Business systems – StaffSpur uses technologies and tools to support and improve its business processes. StaffSpur’s business systems are: 
  • Website: Online platform showing services, benefits, and brand. Provides information and resources.
  • Software: Applications and programs to manage and automate operations, like CRM, HRM, and accounting.
  • Hardware: Devices and equipment to run and access software and systems, like computers, phones, and printers.
  • Network: Infrastructure and connections to link and secure hardware and systems like the internet, cloud, and blockchain.

Management Team

StaffSpur’s management team has one person: Hana Doe, the founder, owner, and CEO. Hana leads the business and oversees everything. Hana also hires and supervises five staff who recruit, screen, place, and administrate. Hana’s management profile is:

  • Name – Hana Doe
  • Role – Founder, owner, and CEO of StaffSpur
  • Background – Hana has a bachelor’s in computer science and a master’s in business administration. She has 10 years of IT experience as a software developer, project manager, and consultant.
  • Experience – Hana knows the IT sector and the staffing industry well. She has managed and delivered many IT projects. She has also worked as a freelancer and a contractor using various staffing agencies and platforms.

StaffSpur has a simple, flat management structure. Hana is the boss and reports to no one. The staff are workers who report to Hana. Hana and the staff communicate and collaborate regularly and openly.

Financial Plan

StaffSpur’s financial plan aims to achieve and maintain profitable, sustainable financial performance by:

  • Generating sufficient revenue
  • Controlling costs
  • Managing cash flow

Financial Assumptions:

  • $10 billion IT staffing market in Texas, growing 10% annually (industry data)
  • 0.1% market share in year 1, increasing 0.1% annually based on strategy, competitive advantage, retention
  • 20% fee/commission of worker salary or employer budget (workers get 80% of salary/budget, industry standard)
  • Main costs are staff salaries, marketing, and office expenses. Assume a 5% annual increase from inflation and growth.
  • 21% federal corporate tax, 0% state tax in Texas. Expenses and depreciation deducted.

Financial statements:

Balance Sheet – Shows assets, liabilities, and equity at a point in time. Measures financial health and liquidity.

Income Statement – Shows revenue, expenses, profit, and margins yearly. Measures profitability and efficiency.

business plan for work agency

Select the Legal Framework for Your Staffing Agency

Choosing the correct legal structure and entity formation is vital when establishing a staffing agency. The primary options we evaluated were:

  • Sole Proprietorship
  • Partnership
  • Limited Liability Company (LLC)
  • S-Corporation

The key considerations were liability protection, tax treatment, ease of setup, ownership flexibility, and ability to attract investors.

For StaffSpur, we determined forming an LLC provides the best advantages:

  • Liability protection separates personal assets from business liabilities
  • Pass-through taxation avoids double taxation
  • Simple setup process compared to S-Corp
  • Flexible ownership structure to add investors
  • Credibility of formal company over sole proprietorship

We will form StaffSpur as an LLC, with Hana owning 100%. This allows us to obtain investment while retaining management control under Hana’s leadership. Refer to our holding company business plan for a better understanding.

Keys to Success

The key elements of starting a staffing agency startup business plan that will make StaffSpur’s business concept successful include:

  • Specialized IT Expertise – Our deep IT networks and knowledge help identify and place great candidates, giving us an edge.
  • Client Relationships – Strong partnerships through excellent service ensure repeat business and referrals for growth. We heavily invest time to understand each client’s needs.
  • Rigorous Screening – Thoroughly vetting candidates’ skills, experience, fit, and background checks provides clients with exceptional, qualified talent that lowers turnover.
  • Pricing – Competitive rates that offer client value and produce profits let us grow sustainably. Our niche also allows higher margins than generalist agencies.

By focusing on these core strengths, StaffSpur stands out from competitors as a top niche IT staffing agency in Austin.

Get Expert Help Building Your Staffing Agency Business Plan

At OGSCapital, our team of experienced business plan writers can provide invaluable guidance on creating a winning placement consultancy business plan or an employment agency business plan tailored to launch or grow your agency. For over 15 years, we have worked with hundreds of startups and businesses across industries to develop customized, investor-grade business plans, like the insurance agency business plan . Our IT staffing agency business plan clients span healthcare, technology, accounting, manufacturing, and more.

Whether you’re looking to secure SBA loans, pitch investors, a medical staffing business plan, or organize your strategy, we can assist with customized business planning services. From one-on-one consultation to complete written plans, we can help you understand how to start a staffing agency, maximize opportunities, and avoid pitfalls.

Reach out today to learn more about how to write a business plan for a staffing agency and how OGSCapital can help turn your staffing agency into a high-growth business.

Download Staffing Agency Business Plan Sample in pdf

Frequently Asked Questions

How profitable is a staffing agency?

As per a business plan template for a recruitment agency, an average staffing agency has a ~10% operating profit margin (EBITDA margin) after operating costs (salaries, admin expenses, etc.). However, this may vary depending on the agency’s industry, market, and client base. Generally speaking, staffing agencies make a profit margin of around 60% on the bill rate they charge to their clients.

What factors do you consider when developing a staffing strategy?

Key factors in developing a startup nonprofit employment agency include industry niche, target clients, talent supply, competitive landscape, geographic focus, value proposition, pricing, compliance, and technology/systems. Identifying a profitable niche where you can differentiate and build a robust talent pipeline to execute your strategy is vital.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Creating a Business Plan for Your Staffing Agency

A business plan is the blueprint you follow to build your company. It outlines all of the major aspects of the business and keeps its architects — you and your business associates — focused and aligned.

But a business plan is also a document you’ll use as you work with other critical stakeholders, including funders, vendors and others, to launch your business. A great deal of forethought is required when creating your business plan, because much like any structure, a solid foundation is a necessary starting point.

According to the U.S. Small Business Administration , there is no right or wrong way to write a business plan, but there are a few more commonly used templates. For example, most people use a traditional business plan format, which includes:

  • An executive summary: Describe what your company is and why it will be successful.
  • A company description: Detailed information about your company, including a detailed description of the problems your business will solve.
  • A market analysis: Competitive research that identifies your target market and dissects your industry competitors.
  • Organization and management: The legal structure of your company and its management hierarchy.
  • Service: A description of the service you’re offering.
  • Marketing and sales: An explanation of how you’ll attract and retain customers.
  • Funding request: If you’re asking for funding, this is where you’ll detail how much you’ll need over the next five years and how the money will be used.
  • Financial projections: A prospective financial outlook for the next five years, including forecasted income statements and capital expenditure budgets.

John Rampton, in his  Entrepreneur article titled “ 7 Steps to a Perfectly Written Business Plan ,” builds on the SBA’s basics with helpful tips. For example, he notes the importance of documenting all aspects of your business, saying that investors want to make sure that your business is going to make money.

“Because of this expectation, investors want to know everything about your business. To help with this process, document everything from your expenses, cash flow and industry projections,” Rampton writes.

He also advises making the business plan adaptable based on the audience. For example, bankers will be more interested in financial details, while investors might be more interested in the business concept and the management team.

While the plan should be modified to suit the reader, he says make sure that the foundational data, such as financial projections, are consistent.

He also notes that regardless of who’s reading your plan, it should be clear that you’re passionate, dedicated and care about your business. Doing so can create an emotional connection with others that could encourage them to support your new venture.

Building on Rampton’s tips, staffing entrepreneurs should also be prepared to discuss their venture in any social situation by creating an elevator speech that describes your new company to your audience in 30 seconds or less. You can use that elevator speech when you hit the streets to start courting clients and employees. Be prepared to knock on doors and ask where you can post job listings in the area, and talk to businesses about their temporary staffing needs.

And while it’s important to tell your business’s story, also be prepared to tell your story. When talking with lenders, investors and potential partners, introduce yourself, tell them your background and detail your expertise. Tell them what you’ve accomplished in the staffing industry, explain your entrepreneurial strengths and business successes, and highlight the partners you’ve recruited who possess skillsets or experience you lack.

With a lot of planning and careful execution, you can create a business plan that becomes the foundation of your firm’s success.

SOURCE LINKS

Entrepreneur.com

Associations and Affiliations

American Staffing Association Member logo

How to Create an Agency Business Plan

business plan for work agency

Whether you're revisiting your existing business or just getting started, an agency business plan can be a vital document that helps focus and prioritize your work against your goals. It's often helpful to think about this as a living document rather than a static one; instead of creating one masterpiece in an afternoon or week of thinking, think of your business plan as a starting point based on the information that you have today. When the situation changes, you can always revisit and revise.

What goes into an agency business plan?

Definition of the target market.

The business plan should clearly define who will you be selling to. While there may be a larger and more diverse group of customers that are potentially interested in your services, what does the ideal customer look like? The tighter and more defined you can get this initial customer definition the better.

Pain point you're solving

For the target market that you're addressing, what is the pain point that you're addressing for them? How are they solving it today? The more you can understand about the way your clients work today, the better off you will be in developing proposals and messaging that resonate with their pain.

Industry landscape

How are your customers solving the pain that they are experiencing today through existing tools or other agencies selling similar services? How successful is the market today?

Revenue plan

You want to start putting together some basic numbers to understand how you want your business to run. If you're early, you can really think about this as an estimate and forecast. For established businesses or agencies that want to expand, this is an exercise that can help you evaluate your existing business. Your business plan should address questions such as:

Tips for writing an effective business plan for your agency

Brief and to the point.

The basics of putting together a successful business plan require a deep understanding of the audience and customer that you're targeting. Rather than focusing on creating a long, complex, and over-involved document, focus on clarity and crispness against a few key ideas. This ensures that you're not losing the trees in the forest, and also makes it easy for you to share with others to get your point across.

Realistic and honest

Putting together a business plan for your agency should be an exercise of realism and honesty. The biggest mistake you can make is putting together an overly optimistic plan without a basis in numbers or reality. Make sure your business plan demonstrates how you'll differentiate, and if there's uncertainty, include financials with worst case scenarios and positive case scenarios so you can prepare for what happens if things go wrong. This is because you can set yourself up for failure

Evolves with new information

While the business plan is the starting point, new information emerges as you test your ideas and you learn from your customers. It's not set in stone. Successful agencies will treat their business plans as a starting off point, and continue to edit and evolve to test their core assumptions as they grow their business.

Tailored to the audience

Who are you writing this business plan for? If you're looking at a business plan with the intention fo bringing on a partner and investor, you might be writing it very differently than something that you want to use as a way to share your vision and philosophy with employees. Or, even as a business plan that you want to show to prospective employees to gauge their interest in your idea. Tailor your business plan to the audience's needs first, so you're getting the right information and message across.

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business plan for work agency

  • Real-Time Collaboration - As a cloud-based solution, Notejoy allows you to share your goals with internal and external collaborators. Leverage Notejoy not just for internal policies and wikis, but also for sharing information with clients.
  • Always in Sync - Rather than managing different versions of agendas or multiple threads of conversation, Notejoy allows the entire team to always see agendas including changes and discussions at the same time.
  • Keep Documents in One Searchable Place - have one place to keep track of and maintain one system of record for your team's plans and documents. Manage who has access to what information, and enable team members old and new to search across past and current goals.

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Additional Resources

  • Notejoy for Agencies
  • Tips for Setting Up an Agency Client Portal
  • How to Respond to a Request For Proposal (RFP)
  • Real Business Examples of SMART Goals

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How To Write a Creative Agency Business Plan + Template

Business-Plan-2

Creating a business plan is essential for any business, but it can be especially helpful for creative agency businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every creative agency owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Creative Agency Business Plan?

A creative agency business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Creative Agency Business Plan?

A creative agency business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Creative Agency Business Plan

The following are the key components of a successful creative agency business plan:

Executive Summary

The executive summary of a creative agency business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

  • Start with a one-line description of your creative agency
  • Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your creative agency , you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your creative agency, mention this.

You will also include information about your chosen creative agency business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a creative agency business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

  • What part of the creative agency industry are you targeting?
  • How big is the market?
  • What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of a creative agency may include advertising agencies, marketing firms, small businesses, and non-profit organizations.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or [sector] services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Below are sample competitive advantages your creative agency may have:

  • Strong management team with a wealth of experience in the creative industry
  • Proven track record of success with previous clients
  • Robust and innovative marketing strategies
  • Unique selling proposition that differentiates them from other agencies in the market
  • Specialization in a particular niche within the creative agency industry
  • Strong relationships with potential customers or key influencers
  • Financial stability and a strong financial forecast

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

  • Product/Service : Detail your product/service offerings here. Document their features and benefits.
  • Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
  • Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
  • Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your creative agency via public relations or traditional advertising.

Operations Plan

This part of your creative agency business plan should include the following information:

  • How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
  • What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a creative agency include reaching $X in sales. Other examples include adding new team members, launching a new service, or expanding to a new location.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific creative agency industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

  • Revenue : how much revenue you generate.
  • Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
  • Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Creative Agency

Balance sheet.

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

  • Assets : All of the things you own (including cash).
  • Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
  • Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Creative Agency

Cash flow statement.

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

  • Cash Flow From Operations
  • Cash Flow From Investments
  • Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup creative agency .

Sample Cash Flow Statement for a Startup Creative Agency

You will also want to include an appendix section which will include:

  • Your complete financial projections
  • A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
  • Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your creative agency . It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

If you are seeking funding from investors or lenders, it is especially important to have a well-written business plan that demonstrates the expertise and experience of your management team, as well as your company’s potential for financial success. By taking the time to write a detailed and comprehensive business plan, you will give your creative agency the best chance for success.  

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How to write a business plan for a recruitment agency?

recruitment agency business plan

Writing a business plan for a recruitment agency can be an intimidating task, especially for those just starting.

This in-depth guide is designed to help entrepreneurs like you understand how to create a comprehensive business plan so that you can approach the exercise with method and confidence.

We'll cover: why writing a recruitment agency business plan is so important - both when starting up, and when running and growing the business - what information you need to include in your plan, how it should be structured, and what tools you can use to get the job done efficiently.

Let's get started!

In this guide:

Why write a business plan for a recruitment agency?

What information is needed to create a business plan for a recruitment agency.

  • What goes in the financial forecast for a recruitment agency?
  • What goes in the written part of a recruitment agency business plan?
  • What tool can I use to write my recruitment agency business plan?

Understanding the document's scope and goals will help you easily grasp its structure and content. Before diving into the specifics of the plan, let's take a moment to explore the key reasons why having a recruitment agency business plan is so crucial.

To have a clear roadmap to grow the business

Running a small business is tough! Economic cycles bring growth and recessions, while the business landscape is ever-changing with new technologies, regulations, competitors, and consumer behaviours emerging constantly.

In such a dynamic context, operating a business without a clear roadmap is akin to driving blindfolded: it's risky, to say the least. That's why crafting a business plan for your recruitment agency is vital to establish a successful and sustainable venture.

To create an effective business plan, you'll need to assess your current position (if you're already in business) and define where you want the business to be in the next three to five years.

Once you have a clear destination for your recruitment agency, you'll have to:

  • Identify the necessary resources (human, equipment, and capital) needed to reach your goals,
  • Determine the pace at which the business needs to progress to meet its objectives as scheduled,
  • Recognize and address the potential risks you may encounter along the way.

Engaging in this process regularly proves advantageous for both startups and established companies. It empowers you to make informed decisions about resource allocation, ensuring the long-term success of your business.

To get visibility on future cash flows

If your small recruitment agency runs out of cash: it's game over. That's why we often say "cash is king", and it's crucial to have a clear view of your recruitment agency's future cash flows.

So, how can you achieve this? It's simple - you need to have an up-to-date financial forecast.

The good news is that your recruitment agency business plan already includes a financial forecast (which we'll discuss further in this guide). Your task is to ensure it stays current.

To accomplish this, it's essential to regularly compare your actual financial performance with what was planned in your financial forecast. Based on your business's current trajectory, you can make adjustments to the forecast.

By diligently monitoring your recruitment agency's financial health, you'll be able to spot potential financial issues, like unexpected cash shortfalls, early on and take corrective actions. Moreover, this practice will enable you to recognize and capitalize on growth opportunities, such as excess cash flow enabling you to expand to new locations.

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your recruitment agency.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your recruitment agency and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your recruitment agency's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your recruitment agency, let's explore what information is required to create a compelling plan.

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Writing a recruitment agency business plan requires research so that you can project sales, investments and cost accurately in your financial forecast.

In this section, we cover three key pieces of information you should gather before drafting your business plan!

Carrying out market research for a recruitment agency

Before you begin writing your business plan for a recruitment agency, conducting market research is a critical step in ensuring precise and realistic financial projections.

Market research grants you valuable insights into your target customer base, competitors, pricing strategies, and other crucial factors that can impact the success of your business.

In the course of this research, you may stumble upon trends that could impact your recruitment agency.

You might discover that job seekers in your area may be more interested in certain industries than others. Additionally, research may reveal that job seekers may be more likely to respond to certain types of recruitment tactics than others.

Such market trends play a pivotal role in revenue forecasting, as they provide essential data regarding potential customers' spending habits and preferences.

By integrating these findings into your financial projections, you can provide investors with more accurate information, enabling them to make well-informed decisions about investing in your recruitment agency.

Developing the marketing plan for a recruitment agency

Before delving into your recruitment agency business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and equipment needs of a recruitment agency

As you embark on starting or expanding your recruitment agency, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is essential for ensuring your business's success.

Both the recruitment and investment plans must align with the timing and level of growth projected in your forecast, and they require appropriate funding.

Staffing costs for a recruitment agency might include salaries for recruiters, administrative staff, and sales representatives. Equipment costs might include computers, software, telephone systems, and office furniture.

To create a realistic financial forecast, you also need to consider other operating expenses associated with the day-to-day running of your business, such as insurance and bookkeeping.

With all the necessary information at hand, you are ready to begin crafting your business plan and developing your financial forecast.

What goes into your recruitment agency's financial forecast?

The financial forecast of your recruitment agency's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.

The four key outputs of a financial forecast for a recruitment agency are:

  • The profit and loss (P&L) statement ,
  • The projected balance sheet ,
  • The cash flow forecast ,
  • And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a recruitment agency shows how much revenue and profits your business is expected to generate in the future.

projected profit and loss statement example in a recruitment agency business plan

Ideally, your recruitment agency's P&L statement should show:

  • Healthy growth - above inflation level
  • Improving or stable profit margins
  • Positive net profit

Expectations will vary based on the stage of your business. A startup will be expected to grow faster than an established recruitment agency. And similarly, an established company should showcase a higher level of profitability than a new venture.

The projected balance sheet of your recruitment agency

The balance sheet for a recruitment agency is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

  • Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
  • Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
  • Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

example of projected balance sheet in a recruitment agency business plan

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your recruitment agency's liquidity and solvency:

  • Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
  • Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your recruitment agency's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The projected cash flow statement

A cash flow forecast for a recruitment agency shows how much cash the business is projected to generate or consume.

example of cash flow forecast in a recruitment agency business plan

The cash flow statement is divided into 3 main areas:

  • The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
  • The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
  • The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your recruitment agency business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The sources and uses table or initial financing plan is a key component of your business plan when starting a recruitment agency.

It shows where the capital needed to set up the business will come from (sources) and how it will be spent (uses).

sources and uses table in a recruitment agency business plan

This table helps size the investment required to set up the recruitment agency, and understand how risks will be distributed between the business owners, and the financiers.

The sources and uses table also highlights what the starting cash position will be. This is key for startups as the business needs to have sufficient funding to sustain operations until the break-even point is reached.

Now that you have a clear understanding of what will go into the financial forecast of your recruitment agency business plan, let's have a look at the written part of the plan.

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The written part of a recruitment agency business plan

The written part of a recruitment agency business plan is composed of 7 main sections:

  • The executive summary
  • The presentation of the company
  • The products and services
  • The market analysis
  • The strategy
  • The operations
  • The financial plan

Throughout these sections, you will seek to provide the reader with the details and context needed for them to form a view on whether or not your business plan is achievable and your forecast a realistic possibility.

Let's go through the content of each section in more detail!

1. The executive summary

In your recruitment agency's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your recruitment agency, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

As you build your recruitment agency business plan, the second section deserves attention as it delves into the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide valuable insights into the legal structure of the business, the identities of the owners, and their respective investments and ownership stakes. This level of transparency is vital, particularly if you're seeking financing, as it clarifies which legal entity will receive the funds and who holds the reins of the business.

Moving to the location part, you'll offer a comprehensive view of the company's premises and articulate why this specific location is strategic for the business, emphasizing factors like catchment area, accessibility, and nearby amenities.

When describing the location of your recruitment agency, you could highlight the potential for growth, as the area may boast a highly educated population and a booming economy. You could emphasize the easy access to major transportation routes, which could make it easier for potential candidates to reach the agency. Additionally, you might point out the presence of other prominent businesses in the area, which could indicate a strong job market. Finally, you could showcase the area's potential for expansion, as it may offer plenty of land and a dynamic business environment.

Lastly, you should introduce your esteemed management team. Provide a thorough explanation of each member's role, background, and extensive experience.

It's equally important to highlight any past successes the management team has achieved and underscore the duration they've been working together. This information will instil trust in potential lenders or investors, showcasing the strength and expertise of your leadership team and their ability to deliver the business plan.

3. The products and services section

The products and services section of your business plan should include a detailed description of the offerings that your company provides to its customers. 

For example, your recruitment agency may offer job search consulting services to help customers create a successful job search plan that will maximize their chances of success. It might also offer resume and cover letter writing services to ensure customers' documents are both up-to-date and tailored to the relevant job. Finally, it may also provide interview coaching services, to help customers prepare for, and excel in, job interviews. These services are important to help customers succeed in their job search and secure the right job for them.

When drafting this section, you should be precise about the categories of products or services you sell, the types of customers you are targeting and how customers can buy them.

4. The market analysis

When you present your market analysis in your recruitment agency business plan, it's crucial to include detailed information about customers' demographics and segmentation, target market, competition, barriers to entry, and any relevant regulations.

The main objective of this section is to help the reader understand the size and attractiveness of the market while demonstrating your solid understanding of the industry.

Begin with the demographics and segmentation subsection, providing an overview of the addressable market for your recruitment agency, the key trends in the marketplace, and introducing different customer segments along with their preferences in terms of purchasing habits and budgets.

Next, focus on your target market, zooming in on the specific customer segments your recruitment agency aims to serve and explaining how your products and services fulfil their distinct needs.

For example, your target market might include recent college graduates who are seeking their first job after graduation. This segment is likely to be highly motivated and eager to begin their career. Additionally, this segment is likely to be very open to the services that a recruitment agency can provide, such as helping to craft resumes and providing job search assistance.

Then proceed to the competition subsection, where you introduce your main competitors and highlight what sets you apart from them.

Finally, conclude your market analysis with an overview of the key regulations applicable to your recruitment agency.

5. The strategy section

When crafting the strategy section of your business plan for your recruitment agency, it's important to cover several key aspects, including your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

In the competitive edge subsection, clearly explain what sets your company apart from competitors. This is particularly critical if you're a startup, as you'll be trying to establish your presence in the marketplace among entrenched players.

The pricing strategy subsection should demonstrate how you aim to maintain profitability while offering competitive prices to your customers.

For the sales & marketing plan, outline how you plan to reach and acquire new customers, as well as retain existing ones through loyalty programs or special offers.

In the milestones subsection, detail what your company has achieved thus far and outline your primary objectives for the coming years by including specific dates for expected progress. This ensures everyone involved has clear expectations.

Lastly, in the risks and mitigants subsection, list the main risks that could potentially impact the execution of your plan. Explain the measures you've taken to minimize these risks. This is vital for investors or lenders to feel confident in supporting your venture - try to proactively address any objection they might have.

Your recruitment agency could face the risk of a data breach. An incident such as this could lead to the loss of confidential information held by the agency, which could damage the agency's reputation and lead to financial loss. Your recruitment agency might also face the risk of a legal dispute from a client or a candidate. This could lead to costly legal fees and could have a negative effect on the agency's reputation.

6. The operations section

The operations of your recruitment agency must be presented in detail in your business plan.

The first thing you should cover in this section is your staffing team, the main roles, and the overall recruitment plan to support the growth expected in your business plan. You should also outline the qualifications and experience necessary to fulfil each role, and how you intend to recruit (using job boards, referrals, or headhunters).

You should then state the operating hours of your recruitment agency - so that the reader can check the adequacy of your staffing levels - and any plans for varying opening times during peak season. Additionally, the plan should include details on how you will handle customer queries outside of normal operating hours.

The next part of this section should focus on the key assets and IP required to operate your business. If you depend on any licenses or trademarks, physical structures (equipment or property) or lease agreements, these should all go in there.

You may have key assets such as databases of potential candidates for specific job roles and an extensive network of contacts. These could be considered intellectual property. Additionally, the recruitment agency might have brand recognition and a reputation for placing high-calibre candidates, which could be intangible assets.

Finally, you should include a list of suppliers that you plan to work with and a breakdown of their services and main commercial terms (price, payment terms, contract duration, etc.). Investors are always keen to know if there is a particular reason why you have chosen to work with a specific supplier (higher-quality products or past relationships for example).

7. The presentation of the financial plan

The financial plan section is where we will present the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of what goes in your recruitment agency business plan, let's look at the solutions you can use to draft yours.

What tool should I use to write my recruitment agency's business plan?

There are two main ways of creating your recruitment agency business plan:

  • Using specialized business planning software,
  • Hiring a business plan writer.

Using an online business plan software for your recruitment agency's business plan

The modern and most efficient way to write a recruitment agency business plan is to use business plan software .

There are several advantages to using specialized software:

  • You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can access a library of dozens of complete business plan samples and templates for inspiration
  • You get a professional business plan, formatted and ready to be sent to your bank or investors
  • You can easily track your actual financial performance against your financial forecast
  • You can create scenarios to stress test your forecast's main assumptions
  • You can easily update your forecast as time goes by to maintain visibility on future cash flows
  • You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

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The Business Plan Shop does the maths for you. Simply enter your revenues, costs and investments. Click save and our online tool builds a three-way forecast for you instantly.

Screenshot from The Business Plan Shop's Financial Forecasting Software

Hiring a business plan writer to write your recruitment agency's business plan

Outsourcing your recruitment agency business plan to a business plan writer can also be a viable option.

These writers possess valuable experience in crafting business plans and creating accurate financial forecasts. Additionally, enlisting their services can save you precious time, enabling you to concentrate on the day-to-day operations of your business.

It's important to be mindful, though, that hiring business plan writers comes with a cost. You'll be paying not just for their time but also for the software they use, and their profit margin.

Based on experience, a complete business plan usually requires a budget of at least £1.5k ($2.0k) excluding tax, and more if revisions are needed after initial meetings with lenders or investors - changes often arise following these discussions.

When seeking investment, be cautious about spending too much on consulting fees. Investors prefer their funds to contribute directly to business growth. Thus, the amount you spend on business plan writing services and other consulting services should be negligible compared to the amount you raise.

Another aspect to consider is that while you'll receive the output of the business plan, you usually won't own the actual document. It will be saved in the consultant's business plan software, which will make updating the plan challenging without retaining the consultant on a retainer.

Given these factors, it's essential to carefully weigh the pros and cons of outsourcing your recruitment agency business plan to a business plan writer and decide what best suits your business's unique needs.

Why not create your recruitment agency's business plan using Word or Excel?

Using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write a recruitment agency business plan is a terrible idea.

For starters, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is very technical and requires both a strong grasp of accounting principles and solid skills in financial modelling.

As a result, it is unlikely anyone will trust your numbers unless - like us at The Business Plan Shop - you hold a degree in finance and accounting and have significant financial modelling experience in your past.

The second reason is that it is inefficient. Building forecasts on spreadsheets was the only option in the 1990s and early 2000s, nowadays technology has advanced and software can do it much faster and much more accurately.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Also, using software makes it easy to compare actuals vs. forecasts and maintain our forecasts up to date to maintain visibility on future cash flows - as we discussed earlier in this guide - whereas this is a pain to do with a spreadsheet.

That's for the forecast, but what about the written part of my recruitment agency business plan?

This part is less error-prone, but here also software brings tremendous gains in productivity:

  • Word processors don't include instructions and examples for each part of your business plan
  • Word processors don't update your numbers automatically when they change in your forecast
  • Word processors don't handle the formatting for you

Overall, while Word or Excel may be viable options for creating a recruitment agency business plan for some entrepreneurs, it is by far not the best or most efficient solution.

  • Using business plan software is a modern and cost-effective way of writing and maintaining business plans.
  • A business plan is not a one-shot exercise as maintaining it current is the only way to keep visibility on your future cash flows.
  • A business plan has 2 main parts: a financial forecast outlining the funding requirements of your recruitment agency and the expected growth, profits and cash flows for the next 3 to 5 years; and a written part which gives the reader the information needed to decide if they believe the forecast is achievable.

We hope that this in-depth guide met your expectations and that you now have a clear understanding of how to write your recruitment agency business plan. Do not hesitate to contact our friendly team if you have questions additional questions we haven't addressed here.

Also on The Business Plan Shop

  • How to write a business plan to secure a bank loan?
  • Key steps to write a business plan?
  • Top mistakes to avoid in your business plan

Do you know entrepreneurs interested in starting or growing a recruitment agency? Share this article with them!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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How to write a business plan for a recruitment agency

Table of Contents

Why a business plan is important

Provide direction,  minimise risk , reduce spending, market research , budgeting and financial planning, examples of swot analysis for a recruitment agency, opportunities , how countingup can benefit your recruitment agency.

If you’re looking to start a recruitment agency, you’ll need to create a business plan as any other startup would. Remember, though, that you’ll need to also account for the specific situations that might arise while working in the recruitment industry.

This article will serve as a guide to writing a great business plan for your recruitment agency. We’ll look at what your plan should look like, as well as why a plan is important. The topics we’ll cover include:

There are a few different reasons why you need a business plan before starting a business , but one of the most important is that it will guide your business going forward. Without a plan, no matter how simple the plan is, you’ll likely struggle to develop your business and make effective decisions. 

A business plan doesn’t have to be set in stone — you can adapt it to account for any unique events that affect your recruitment agency. That said, it’s essential to have at least a vague idea of the purpose your business will serve, the potential obstacles you might encounter, and how you’re going to deal with those obstacles.

A business plan is also necessary to minimise the risk you’ll face when starting a recruitment agency . One of the key sections of a business plan is the SWOT analysis, where SWOT stands for strengths, weaknesses, opportunities and threats.

In order to minimise risk effectively, it’s vital that you analyse both the weaknesses of your agency as well as the threats it may face. In doing so, you’ll be able to fix your weak points and avoid potential threats more effectively.

Finally, business plans are important because they provide valuable data for minimising your spending. For example, during your SWOT analysis and financial planning , you may find that you’ve budgeted a large amount of spending to support a part of your business that’s actually very strong. 

In a recruitment agency, this might mean you’ve planned to spend a lot of money on marketing, but your business already has a strong brand because you (as the owner) have many good personal contacts in the industry. In this instance, you can safely reduce your marketing budget and save your business money. 

Thorough market research is the best first step when you’re writing a business plan . Market research means examining the industry your business will exist in, and finding out the needs and preferences of that industry’s consumers.

For a recruitment agency, a key research topic for your business plan would be finding out the impact COVID-19 has had on the market. Many new markets emerged during the pandemic, which you can provide your services to. As the UK is currently recovering from the pandemic, it would also be wise to look into which industries are now recruiting heavily after laying off staff in recent years.

Planning out how you’ll spend your money when starting your agency is also a key part of a good business plan. You need to consider your budget for starting the business as well as how you’ll manage your business finances going forward.

It’s smart to prepare a budget for each section of your business. For instance, you might set aside different amounts for recruiting staff, purchasing business premises, and marketing. Your advertising budget is particularly important when you’re a small business , as you may not be able to rely on personal contacts or existing clients for referrals, so you’ll need to attract clients independently.

Conducting a SWOT analysis is a great way of evaluating your business even after starting up, but it’s particularly helpful when you first put together your business plan. SWOT stands for strengths, weaknesses, opportunities and threats, so a SWOT analysis requires you to think of an example of these for your business. In a recruitment agency, these might be:

As mentioned above, it may be that you have a good reputation because you have a wealth of experience and personal connections in the recruitment industry, so you’ll not need to worry as much about marketing.

Recruitment agencies frequently have to use a lot of software to track their clients’ needs and organise candidate applications. If you’re not very good with technology, you may need to hire staff who are to account for this weakness.

The UK is currently rebounding from the struggles of the COVID-19 pandemic, and this presents a wealth of opportunities for a good recruitment agency.

You need to take immense care when you’re handling people’s personal information, which you’ll often do at a recruitment agency. Sending this information to the incorrect person can have a considerable negative impact on your business, as there is a lot of new legislation regarding privacy. 

Your business plan should include a good amount of financial planning, as tracking your cash flow (your incoming and outgoing cash) is hugely important in any business. 

Countingup is the business current account with built-in accounting software that allows you to manage all your financial data in one app. With features like automatic expense categorisation, invoicing on the go, receipt capture tools, tax estimates, and cash flow insights, you can confidently keep on top of your business finances wherever you are. 

You can also share your bookkeeping with your accountant instantly without worrying about duplication errors, data lags or inaccuracies. Seamless, simple, and straightforward! 

Find out more here .

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Insurance Agency Business Plan Template

Written by Dave Lavinsky

Growthink Insurance Agency Business Plan

Over the past 20+ years, we have helped over 3,000 entrepreneurs and business owners create business plans to start and grow their insurance agencies. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through an insurance agency business plan template step-by-step so you can create your plan today.

Download our Ultimate Insurance Business Plan Template here >

What Is a Business Plan?

A business plan provides a snapshot of your insurance agency as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan

home insurance plan

Source of Funding for Insurance Agencies

With regards to funding, the main sources of funding for an insurance agency are personal savings, credit cards, bank loans, and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate the business.

The second most common form of funding for an insurance agency is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund an insurance agency unless it is based on a unique, scalable technology.

Finish Your Business Plan Today!

Your insurance agency business plan should include 10 sections as follows:

Executive Summary

insurance agent

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of insurance agency business you are operating and the status; for example, are you a startup, do you have an insurance agency that you would like to grow, or are you operating multiple insurance agency locations already.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the insurance agency industry. Discuss the type of insurance agency you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.

Company Analysis

In your company analysis, you will detail the type of insurance agency you are operating.

For example, you might operate one of the following types:

  • Direct Writer / Captive : this type of insurance agency only sells one insurance company’s products – like Allstate or State Farm
  • Independent Insurance Agent : this type of insurance agency is privately-owned, and sells policies with may different insurance companies

In addition to explaining the type of insurance agency you operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include sales goals you’ve reached, new location openings, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

insurance agency plan

While this may seem unnecessary, it serves multiple purposes.

First, researching the insurance industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your strategy particularly if your research identifies market trends. For example, if there was a trend towards weather-related policy purchases, it would be helpful to ensure your plans call for flood insurance options.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your insurance company business plan:

  • How big is the insurance agency business (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key insurance carriers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your insurance agency. You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your insurance agency business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, households, businesses, etc.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of insurance agency you operate. Clearly baby boomers would want different pricing and product options, and would respond to different marketing promotions than recent college graduates.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most insurance agencies primarily serve customers living in their same geographic region, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

car insurance plan

Direct competitors are other insurance agencies.

Indirect competitors are other options that customers have to purchase from you that aren’t direct competitors. This includes self pay and public (Medicare, Medicaid in the case of health insurance) insurance or directly working with an insurance carrier. You need to mention such competition to show you understand that not everyone who purchases insurance does so through an insurance agency.

With regards to direct competition, you want to detail the other insurance agencies with which you compete. Most likely, your direct competitors will be insurance agencies located in your geographic region.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of customers do they serve?
  • What products do they offer?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior insurance agency products/services?
  • Will you provide insurance agency products that your competitors don’t offer?
  • Will you make it easier or faster for customers to acquire your products?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For an insurance agency business plan, your marketing plan should include the following:

Product : in the product section you should reiterate the type of insurance agency that you documented in your Company Analysis. Then, detail the specific products/services you will be offering. For example, in addition to P&C insurance, will you also offer life insurance?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the menu items you offer and their prices.

Place : Place refers to the location of your insurance agency. Document your location and mention how the location will impact your success. For example, is your insurance agency located next to the Department of Motor Vehicles, or a heavily populated office building, etc. Discuss how your location might provide a steady stream of customers.

Promotions : the final part of your insurance agency marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

  • Making your insurance agency’s front store extra appealing to attract passing customers
  • Advertising in local papers and magazines
  • Reaching out to local bloggers and websites
  • Partnerships with local organizations (e.g., auto dealerships or car rental stores)
  • Local radio advertising
  • Banner ads at local venues

Operations Plan

umbrella policy

Everyday short-term processes include all of the tasks involved in running your insurance agency such as serving customers, procuring relationships with insurance carriers, negotiating with repair shops, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to acquire your 500th customer, or when you hope to reach $X in sales. It could also be when you expect to hire your Xth employee or launch a new location.

Management Team

To demonstrate your insurance agency’s ability to succeed as a business, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally you and/or your team members have direct experience in the insurance agency business. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in insurance agencies and/or successfully running small businesses.

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you acquire 20 new customers per month or 50? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : While balance sheets include much information, to simplify them to the key items you need to know about, balance sheets show your assets and liabilities. For instance, if you spend $100,000 on building out your insurance agency location and/or website, that will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100.000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing an insurance agency:

  • Location build-out including design fees, construction, etc.
  • Marketing expenses
  • Website development
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

insurance policy

Insurance Business Plan Summary

Putting together a business plan for your insurance agency is a worthwhile endeavor. If you follow the template above, by the time you are done, you will truly be an expert. You will really understand the insurance agency business, your competition and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful insurance agency.

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You can download our insurance business plan PDF here . This is a business plan template you can use in PDF format.

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What is the easiest way to complete my insurance business plan.

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You can download our insurance business plan PDF template here . This is a business plan template you can use in PDF format.

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How to write a business plan for your recruitment agency.

business plan for a recruitment agency

Starting a recruitment agency is a great idea because it provides a valuable service to employers and job seekers alike.

It is a great way to bridge the gap between the two and facilitate successful career placements.

But, first thing first, you need a business plan.

A business plan is essential for any new project, as it allows you to clearly define your goals, objectives, and strategies for success. It also provides a roadmap for the future, helping to ensure that your project is successful in the long term.

In short, a good business plan will help make sure your recruitment agency is profitable .

What information should you put into the business plan of a recruitment agency? What's the basic outline for the structure? What financial metrics should be included? What steps should I follow to write a business plan efficiently?

Stay with us: we'll tackle all these questions!

One last thing, you don't have to start your business plan from scratch.

Feel free to download our detailed business plan for a recruitment agency and customize it for your business.

business plan staffing agency

Mapping out a business plan for a recruitment agency

Do you need to develop a business plan for your recruitment agency.

Yes, you need to develop a business plan for your recruitment agency.

Crafting a well-structured business plan will help you to:

  • get familiar with the recruitment agency market
  • be aware of new consumertrends and apply them to your project
  • recognize profitability factors for a recruitment agency
  • understand the hiring needs, job requirements, and talent preferences of client companies
  • come up with a winning value proposition for your staffing services agency
  • identify potential competitive threats
  • find distinctive competitive edges for your recruitment agency
  • find a business model that delivers consistent positive financial outcomes
  • formulate an airtight strategy to maximize business growth
  • evaluate potential risks specific to a recruitment agency, including client satisfaction, candidate vetting, and legal compliance

Our team has created a business plan for a recruitment agency that is designed to make it easier for you to achieve all the elements listed.

How to organize a business plan for a recruitment agency?

Inside a business plan, you'll find a lot of important information and details. It must be presented in a structured format, to make easy to read and digest.

When we built and designed our business plan for a recruitment agency , we made sure to structure it propertly.

We've categorized it into 5 sections (Opportunity, Project, Market Research, Strategy and Finances).

1. Market Opportunity

The section number one is titled "Market Opportunity."

In this section, you will find valuable data and insights about the recruitment agency, helping you understand the market landscape and assist companies in finding and hiring top talent.

We constantly update all the data there.

2. Project Presentation

The second part is dedicated to the "Project" of your recruitment agency. Here, you can outline the industries you specialize in, recruitment services offered, candidate sourcing strategies, screening and selection processes, client partnerships, and the unique value proposition that connects top talent with the right job opportunities.

Also, provide a self-introduction at the end of this section.

Discuss your expertise in talent acquisition, your range of recruitment services, and how you plan to provide comprehensive and tailored staffing solutions to clients. Highlight your industry knowledge, your network of professionals, and your dedication to matching the right talent with the right opportunities through your recruitment agency.

We drafted some language for you in our business plan. Adjust it to suit your idea perfectly.

3. Market Research

Then, there is the "Market Research" section.

In this section, you will find a detailed market segmentation analysis for your recruitment agency.

It includes a presentation of other recruitment agencies in the area that will be competing with you. Your agency's expertise in talent acquisition and competitive advantages are also highlighted. A customized SWOT analysis is included.

4. Strategy

The "Strategy" section outlines a comprehensive 3-year action plan, detailing the initiatives and steps needed to transform your recruitment agency into a highly profitable endeavor.

Additionally, there's a marketing strategy, a risk management strategy, and a Business Model Canvas available in this section.

5. Finances

In the end, you'll find the "Finances" section, which provides a comprehensive overview of the financials for your project.

business plan recruitment agency

How to make an Executive Summary for a recruitment agency?

The Executive Summary serves as an introduction to the business plan for your recruitment agency.

Keep it concise and ensure it fits within 2 pages. Highlight only the necessary details.

When you present your business plan to investors, this is the section they will read first. It needs to grab their attention and make them want to explore the rest of the plan.

In the Executive Summary of your recruitment agency, address the following queries: what services does your recruitment agency offer? who is your target market? are there other recruitment agencies in the industry? what sets you apart from them? what funding do you require?

How to do the market analysis for a recruitment agency?

Analyzing the market for your recruitment agency allows you to gain insights into factors such as client demands for talent acquisition, competition within the recruitment industry, and emerging trends in HR and staffing.

By conducting a thorough market study, a recruitment agency can understand client hiring needs, offer effective recruitment solutions, optimize pricing strategies, and execute targeted marketing campaigns, ultimately leading to a larger client base, increased job placements, and a prominent position in the recruitment industry.

Here is what you can expect to find in the "Market Research" section of our business plan for a recruitment agency :

  • market trends and data about recruitment agencies, including job market analysis, talent acquisition strategies, and industry-specific hiring trends
  • a list of potential customer segments for a recruitment agency
  • the competitive comparison
  • the potential competitive advantages for a recruitment agency

business plan recruitment agency

The key points of the business plan for a recruitment agency

What's the business model of a recruitment agency, business model of a recruitment agency.

A recruitment agency's business model revolves around connecting employers with qualified candidates for job openings. Revenue is generated through fees or commissions based on successful placements.

The business model focuses on understanding clients' hiring needs, conducting candidate sourcing and screening, effective marketing to attract employers and job seekers, and building strong client and candidate relationships based on trust and expertise in recruitment.

Success depends on building a robust candidate database, delivering suitable talent for job openings, fostering positive client and candidate experiences and recommendations, and continuously adapting to changing recruitment methods and job market dynamics.

Business model ≠ Business plan

Make sure you differentiate between "business plan" and "business model."

A business model describes how a company generates income and operates successfully.

In a business plan, you articulate your business model through a framework known as the Business Model Canvas.

Rest assured, there is a Business Model Canvas (already completed) in our business plan for a recruitment agency .

How do you identify the market segments of a recruitment agency?

Market segmentation for your recording studio involves dividing your potential clients into different groups based on their recording needs, music genres, and preferences.

These categories may include factors such as music artists, voice-over artists, podcasters, or clients seeking specific recording services or equipment (e.g., vocal recording, sound mixing, podcast production).

By segmenting your market, you can offer specialized recording services and facilities that cater to each segment's specific requirements. For example, you might focus on music artists and provide state-of-the-art recording studios equipped with instruments and production tools for music production, offer professional voice-over recording services for clients in need of high-quality voice recordings for commercials, audiobooks, or animations, specialize in podcast production and provide podcasters with dedicated recording spaces and podcast editing services, or focus on specific recording services or equipment such as vocal recording, sound mixing, or audio mastering.

Market segmentation allows you to effectively target your marketing efforts, communicate the capabilities and technical expertise of your recording studio, and provide a creative and professional recording environment that meets the unique needs and preferences of each client segment.

In the business plan for a recruitment agency , you will find a comprehensive market segmentation that will help you better understand your potential customers.

How to conduct a competitor analysis for a recruitment agency?

Without surprise, you won't be the only recruitment agency in your market. There will be other agencies offering staffing and talent acquisition services to organizations.

Understanding your competitors' strengths and weaknesses is critical when developing your business plan.

Identify their weaknesses (such as limited industry connections, inadequate candidate screening, or poor client communication).

Why is it important to address these elements? Because these weaknesses can impact the effectiveness of recruitment agency services.

By focusing on these areas, you can offer a wide network of qualified candidates, provide efficient and thorough recruitment processes, and deliver personalized and attentive client support, positioning your recruitment agency as a trusted and preferred partner for businesses seeking top talent and successful staffing solutions.

It's what we call competitive advantages—develop them to make your business stand out.

Here are some examples of competitive advantages for a staffing agency: extensive network of qualified candidates, personalized recruitment solutions, timely placements.

How to draft a SWOT analysis for a staffing agency?

A SWOT analysis can help identify the strengths, weaknesses, opportunities, and threats of a recruitment agency, enabling informed decision-making and increased success.

As you can guess, there is indeed a completed and editable SWOT matrix in our business plan for a recruitment agency

The strengths for a recruitment agency

When we talk about the "S" in SWOT, we mean Strengths, which are the project's internal capabilities or unique strengths.

For a recruitment agency, possible strengths could include an experienced team, a strong network of contacts, an extensive database of candidates, and a comprehensive understanding of the recruitment market.

The weaknesses for a recruitment agency

W stands for Weaknesses, referring to the project's areas or aspects that have room for improvement.

For a recruitment agency, potential weaknesses include difficulty in finding suitable candidates, lack of access to a large pool of qualified applicants, high cost of advertising to attract talent, and potential clients not trusting the agency.

The opportunities for a recruitment agency

The letter "O" in SWOT signifies Opportunities, highlighting the favorable conditions or chances for the project's progress.

In the case of a recruitment agency, potential opportunities include providing executive search services, offering temporary staffing solutions, providing online job postings, and providing career coaching services.

The threats for a recruitment agency

When we use the "T" in SWOT, we're referring to Threats, which are the external risks or challenges that the project may encounter.

How to develop a marketing plan for a staffing agency?

A marketing strategy is a key factor in acquiring customers and increasing revenue, so include it in your business plan.

A well-crafted marketing strategy will attract companies and job seekers to your recruitment agency, emphasizing your expertise in matching the right talent with the right job.

Companies won't hire your recruitment agency without effective marketing; showcasing your talent pool and personalized approach is crucial.

Are you utilizing marketing tactics to attract clients to your recruitment agency? Consider building strong relationships with local businesses and job seekers, offering specialized recruitment services, and utilizing digital marketing strategies to showcase your expertise in the industry.

Don't let a lack of ideas for your project's marketing strategy discourage you.

How to build a solid financial plan for a staffing agency?

A solid business plan must include financial data to provide an accurate assessment of the business's potential success.

Obviously, you should estimate the projected revenue for your recruitment agency.

It's crucial for this revenue forecast to be clear and straightforward.

Our financial plan for a recruitment agency is easy to use and includes built-in checks to help you identify and correct any assumptions, ensuring you create reliable projections with confidence.

Without a doubt, you'll need to come up with a basic budget for starting your recruitment agency. Make sure to include every expense (by the way, they are all listed in the financial plan we've made).

The break-even analysis is central in the financial plan as it will tell you whether your recruitment agency will generate profits or not.

  • Choosing a selection results in a full page refresh.
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Financial Model, Business Plan and Dashboard Templates - FinModelsLab

How To Write a Business Plan for Talent Agency in 9 Steps: Checklist

By henry sheykin, resources on talent agency.

  • Financial Model
  • Business Plan
  • Value Proposition
  • One-Page Business Plan

Welcome to our blog post on how to write a business plan for a talent agency! Talent agencies have become an integral part of the entertainment industry, representing talented individuals and securing exciting opportunities for them. In fact, the talent agency industry in the US has been experiencing significant growth, with an estimated revenue of $10.3 billion in 2020 and an annual growth rate of 1.5%.

Research The Talent Agency Industry And Market Trends

When starting a talent agency, it is crucial to conduct thorough research on the industry and stay up-to-date with current market trends. This will help you understand the landscape you are entering and make informed decisions to set your agency apart from the competition.

Here are some key points to consider as you research the talent agency industry and market trends:

  • Identify the demand: Determine the current demand for talent agency services in your desired market. Research the number of actors, musicians, and models in the area, as well as the number of existing talent agencies.
  • Understand industry regulations: Familiarize yourself with the legal requirements and regulations for talent agencies in your region. These may include licensing, contract regulations, and labor laws.
  • Stay updated on trends: Follow industry publications and attend relevant conferences or events to stay informed about the latest trends and developments in the talent agency industry. This will help you anticipate changes and adapt your business strategies accordingly.
  • Assess market competition: Research existing talent agencies in your market and analyze their strengths, weaknesses, target audience, and marketing strategies. This will allow you to identify gaps and opportunities that you can leverage to differentiate your agency.
  • Subscribe to industry newsletters and publications to receive regular updates on industry news and trends.
  • Build relationships with professionals in the talent agency industry to gain insights and advice.
  • Consider conducting surveys or focus groups to gather feedback from potential clients and talent about their needs and expectations.

By thoroughly researching the talent agency industry and market trends, you will be equipped with the knowledge necessary to make informed decisions and develop a business plan that aligns with industry demands. This foundational research will set the stage for the success of your talent agency.

Identify Your Target Audience And Talent Niche

When starting a talent agency, it is crucial to understand who your target audience is and the specific talent niche you want to cater to. By identifying your target audience, you can tailor your services and marketing efforts to meet their needs and expectations. Here are a few key steps to help you in this process:

  • Research the market: Before narrowing down your target audience, it's essential to conduct thorough market research. Look for industry trends, demographics, and consumer preferences to identify areas of opportunity and potential gaps in the market.
  • Define your ideal client: Determine the characteristics and attributes of the clients you want to represent. Consider factors such as age, location, industry, and talent type. This will help you create a focused approach to attract and serve your target audience.
  • Assess your expertise: Reflect on your own knowledge and experience within the talent industry. Identify the particular talent niche where you have the most expertise and connections. Focusing on a niche that aligns with your skills and interests can give you a competitive advantage and enhance your credibility.
  • Consider industry demand: Evaluate the demand for talent in your chosen niche. Look for indications of growth, emerging trends, and opportunities that align with your target audience. Understanding the demand will help you position your agency effectively in the market.

Tips for Identifying Your Target Audience and Talent Niche:

  • Pay attention to the demographics and preferences of your existing network and industry contacts.
  • Stay updated on industry news and developments to identify emerging talent needs.
  • Seek feedback and insights from potential clients and industry professionals to validate your target audience and talent niche choices.
  • Consider the market saturation and competition in your chosen niche. Find your unique selling point to stand out.

By carefully identifying your target audience and talent niche, you can position your talent agency strategically and effectively attract the right clients and talent. Remember, focusing on a particular niche can lead to stronger relationships and greater success in the long run.

Define Your Unique Value Proposition and Competitive Advantage

When starting a talent agency, it's crucial to define your unique value proposition and competitive advantage. These two elements will set your agency apart from the competition and attract both clients and talented individuals to work with you. Here are some steps to help you define these key aspects:

  • Identify your agency's strengths: Take a close look at your agency's strengths, whether it's your extensive industry connections, specialized expertise in a certain talent niche, or an impressive track record of successful client placements. Highlighting these strengths will form the foundation of your unique value proposition.
  • Understand your target audience: Gain a deep understanding of your target audience and their specific needs. Are you targeting aspiring actors looking for their big break, musicians searching for management, or models seeking international representation? The better you understand your audience, the more effectively you can tailor your value proposition to meet their needs.
  • Define your agency's unique selling points: What sets your talent agency apart from others in the industry? Is it your personalized approach to representation, your commitment to client satisfaction, or your emphasis on nurturing long-term relationships? Clearly articulate these unique selling points to differentiate your agency and give clients and talent a compelling reason to choose you over your competitors.
  • Showcase your track record and success stories: Highlight past successes and client testimonials to demonstrate your agency's track record of achievements. This will build credibility and reinforce your competitive advantage.
  • Research your competitors' value propositions to identify gaps in the market that you can fill.
  • Consider conducting surveys or interviews with potential clients and talent to gather insights and preferences.
  • Constantly evaluate and refine your value proposition as your agency evolves and the industry changes.

Defining your unique value proposition and competitive advantage will not only help you attract clients and talent but also serve as a guiding principle for your agency's strategic decisions. Make sure to clearly communicate these aspects in your business plan and incorporate them into your branding and marketing strategy.

Conduct A Comprehensive Competitor Analysis

Conducting a comprehensive competitor analysis is a crucial step in writing a business plan for your talent agency. This analysis will provide you with valuable insights into your competitors' strengths, weaknesses, and strategies, which will help you identify opportunities for differentiation and improvement.

When conducting a competitor analysis, it is important to gather data and information about your direct and indirect competitors. Direct competitors are talent agencies that offer similar services and target the same audience as your agency. Indirect competitors are those that may not offer the exact same services, but still compete for the attention and business of talent and clients.

  • Identify your direct competitors by researching talent agencies in your local area or those that operate on a national or international level. Consider factors such as their size, reputation, client portfolio, and the services they offer.
  • Study their marketing and branding strategies to understand how they position themselves in the market and differentiate from their competitors. Pay attention to their online presence, social media activity, and client testimonials.
  • Analyze their pricing structure and commission rates to determine whether your agency can offer more competitive rates or unique incentives to attract talent and clients.
  • Assess their relationship with industry professionals and potential clients. Are they well-connected and respected in the industry? Do they have partnerships or collaborations with other businesses or brands? Understanding their network and relationships will help you identify potential collaboration opportunities for your agency.

Tips for conducting a comprehensive competitor analysis:

  • Utilize online tools and resources to gather information about your competitors, such as their websites, social media profiles, and online reviews from talent and clients.
  • Attend industry events, conferences, and trade shows to learn more about your competitors and make important connections with industry professionals.
  • Consider conducting interviews or surveys with talent and clients who have worked with your competitors to gain additional insights into their experiences and satisfaction levels.
  • Regularly update your competitor analysis to stay informed about changes in the market, such as new entrants or shifts in industry trends.

By conducting a comprehensive competitor analysis, you will be able to identify areas where your talent agency can excel and differentiate itself from the competition. This analysis will serve as a foundation for developing strategies and tactics that will give your agency a competitive edge in the market.

Determine The Legal Structure Of Your Talent Agency

Determining the legal structure of your talent agency is a crucial step in setting up your business. It involves choosing the right legal entity that will define how your agency will be organized, taxed, and protected under the law. Here are some important factors to consider:

  • Consult with legal professionals: Seek the advice of a qualified attorney who specializes in business law to ensure that you understand the legal implications and requirements of each structure.
  • Consider your long-term goals: Assess your business objectives and future plans to determine which legal structure aligns best with your agency's vision and growth strategy.
  • Weigh the pros and cons: Research and compare different structures such as sole proprietorship, partnership, limited liability company (LLC), or corporation. Each has its own benefits and drawbacks, so choose the one that suits your needs and risk tolerance.
  • Protect personal assets: Depending on the structure you choose, it's essential to ensure that your personal assets are shielded from potential liabilities of the agency. This can help safeguard your personal finances in case of legal issues.
  • Understand tax implications: Different legal structures have varying tax obligations and benefits. Consult with a tax professional to understand how each structure could impact your agency's tax liability and reporting requirements.
  • Comply with local regulations: Research and understand the specific licensing and regulatory requirements for talent agencies in your jurisdiction. Ensure that your chosen legal structure aligns with these regulations.
  • Consider consulting with an accountant to evaluate the financial implications of each legal structure.
  • Review industry-specific regulations and licensing requirements to ensure compliance.
  • Consider potential future changes in ownership or partnership arrangements before finalizing the legal structure.

Develop A Detailed Financial Plan, Including Startup Costs And Projections

When starting a talent agency, it is crucial to develop a detailed financial plan that includes both startup costs and projections . This plan will serve as a roadmap for managing your finances and ensuring the long-term success of your business.

First, you need to identify and estimate all the startup costs associated with launching your talent agency. This may include expenses such as office space, equipment, legal fees, marketing and branding, insurance, licensing, and software. By thoroughly researching and estimating these costs, you can better allocate your initial investment and avoid any surprises down the line.

Next, you need to create financial projections to forecast the future performance of your talent agency. This involves analyzing industry trends, market demand, and your target audience to determine realistic revenue and expense forecasts. It is important to consider factors such as the commission rates you will charge, the number of clients you expect to represent, and the average earnings of your talent.

Tips for developing a detailed financial plan:

  • Consult with an accountant or financial advisor who specializes in the entertainment industry to ensure accuracy and credibility of your projections.
  • Consider potential risks and challenges that may impact your financial plan, such as fluctuations in the industry, economic downturns, or changes in regulations.
  • Regularly review and update your financial plan as your talent agency grows and evolves to reflect any changes in expenses, revenue, or market conditions.
  • Monitor your cash flow closely and maintain a contingency fund to cover any unexpected expenses or gaps in revenue.

By developing a detailed financial plan, including startup costs and projections, you will have a clear understanding of the financial landscape for your talent agency. This will enable you to make informed decisions, attract investors or secure financing, and pave the way for a successful and sustainable business.

Create A Branding And Marketing Strategy

Developing a strong branding and marketing strategy is crucial for a talent agency to stand out in the competitive industry. It is essential to establish a clear and memorable brand identity that resonates with both clients and industry professionals. Here are some key steps to create an effective strategy:

  • Define your brand: Clearly articulate your agency's mission, values, and unique selling proposition (USP). Identify what sets your agency apart from the competition and why clients should choose you.
  • Target audience analysis: Understand your target audience and tailor your marketing efforts accordingly. Research the demographics, preferences, and behavior of potential clients to craft targeted messages and campaigns.
  • Logo and visual identity: Create a visually appealing and easily recognizable logo that reflects your agency's personality and resonates with your target audience. Consider hiring a professional designer to ensure a polished and cohesive visual identity.
  • Online presence: Establish a strong online presence by creating a professional website and utilizing social media platforms relevant to your industry. Regularly update these platforms with engaging content, including client success stories, industry news, and behind-the-scenes content.
  • Content marketing: Develop a content marketing strategy to position your agency as a thought leader in the industry. Produce high-quality blog posts, videos, or podcasts that provide valuable insights and showcase your expertise.
  • Networking and partnerships: Attend industry events, join professional associations, and build relationships with other industry professionals. Collaborate with complementary businesses or influencers to expand your reach and attract new clients.
  • Client testimonials and referrals: Leverage the positive experiences of your existing clients by featuring their testimonials on your website or social media platforms. Encourage satisfied clients to refer your agency to their industry contacts.
  • Track and analyze: Regularly monitor and analyze the success of your branding and marketing efforts. Utilize tools like Google Analytics to measure website traffic, engagement, and lead conversion rates. Adjust your strategy as needed based on the data insights.

By creating a comprehensive branding and marketing strategy, you can effectively communicate your agency's value and attract both talented individuals and potential clients. Remember, consistency and adaptability are key in maintaining a strong brand presence in the talent agency industry.

Build A Network Of Industry Professionals And Potential Clients

In order to succeed as a talent agency, you need to build a strong network of industry professionals and potential clients. This network will allow you to establish valuable connections, gain industry insights, and enhance your reputation within the entertainment industry. Here are some important steps to help you build your network:

  • Attend industry events and conferences: These events provide excellent opportunities to meet and connect with industry professionals, including casting directors, producers, and other talent agents. Make sure to have your business cards ready and be prepared to engage in meaningful conversations.
  • Join professional associations and organizations: Consider joining associations specific to the entertainment industry, such as the Talent Agents Association or the Entertainment Publicists Professional Society. These organizations often provide networking events, educational resources, and networking opportunities.
  • Utilize social media: Social media platforms, such as LinkedIn, Instagram, and Twitter, have become powerful tools for networking in the entertainment industry. Connect with industry professionals and engage with their content to establish relationships.
  • Collaborate with other talent agencies: Establishing relationships with other talent agencies can be beneficial for both parties. Consider collaborating on projects or referring clients to one another when appropriate. This can help expand your network and reinforce your reputation as a respected agency.
  • Offer value to industry professionals: Provide useful insights, articles, or resources to industry professionals through your blog or social media channels. By consistently offering value, you can position yourself as a valuable resource and build trust with potential clients and industry professionals.
  • Attend industry workshops and seminars: Continuously invest in your professional development by attending workshops and seminars focused on the talent agency industry. These events not only provide valuable knowledge but also offer networking opportunities with like-minded professionals.

Networking Tips:

  • Be genuine and authentic in your interactions. People appreciate sincerity and are more likely to remember you when you demonstrate genuine interest in their work.
  • Follow up with individuals you meet at events or through social media. Send a personalized message expressing your pleasure in meeting them and suggesting a potential collaboration or meeting in the future.
  • Always carry your business cards and ensure they reflect your brand and professionalism.
  • Be an active listener and ask insightful questions when engaging in conversations. This shows your genuine interest in the industry and the person you are talking to.
  • Utilize online platforms, such as LinkedIn, to research and connect with industry professionals before attending events. This will help you make meaningful connections at the event.

By actively building and nurturing your network of industry professionals and potential clients, you position yourself as a reliable and trustworthy talent agency. Remember, networking is an ongoing process that requires dedication and consistent effort. Building relationships takes time, but the rewards can be invaluable for the growth and success of your agency.

Outline A Staffing Plan And Recruit Key Team Members

Running a successful talent agency requires a dedicated team of professionals who can help you navigate the industry and effectively manage your clients. Here are some important steps to consider when outlining your staffing plan and recruiting key team members:

  • Identify key roles: Determine the specific roles and positions you need to fill within your talent agency. These may include talent agents, talent managers, casting directors, marketing professionals, and administrative staff. Each role plays a vital role in the success of your agency, so it's crucial to define these positions clearly.
  • Define job responsibilities and qualifications: Clearly outline the responsibilities and qualifications for each role. This will help you identify the right candidates who possess the necessary skills and experience to excel in their respective positions. Be specific about the qualifications required, such as industry experience, knowledge of the talent market, and strong communication and negotiation skills.
  • Create a hiring plan: Develop a hiring plan that outlines the timeline and process for recruiting and onboarding new team members. Consider factors such as the projected growth of your agency, budget constraints, and the availability of qualified candidates in the talent industry. This plan will guide your recruitment efforts and ensure a smooth transition for new hires.
  • Advertise open positions: Utilize various platforms to advertise open positions within your talent agency. This can include job boards, industry-specific websites, social media platforms, and professional networking events. Craft compelling job descriptions that highlight the unique aspects of working for your agency and attract top talent in the industry.
  • Interview and assess candidates: Conduct thorough interviews to evaluate candidates' fit for the roles within your talent agency. Ask specific questions that assess their industry knowledge, communication skills, and ability to work in a fast-paced and competitive environment. Consider conducting multiple rounds of interviews and involve key team members in the selection process.

Recruitment Tips:

  • Tap into your industry network: Leverage your existing contacts and industry connections to find potential candidates who may be a good fit for your talent agency. Referrals from trusted sources can often lead to higher-quality hires.
  • Provide growth opportunities: Emphasize the growth potential and professional development opportunities available within your talent agency. Talented professionals are often attracted to organizations that offer room for advancement and the chance to work with high-profile clients.
  • Consider internships and apprenticeships: Offering internships or apprenticeship programs can be an effective way to identify and groom talented individuals who may eventually join your team full-time. These programs also provide valuable industry experience to aspiring professionals.

By outlining a comprehensive staffing plan and recruiting key team members who align with your agency's goals and values, you'll be well-positioned to build a successful talent agency that can effectively represent and propel the careers of your clients.

In conclusion, writing a business plan for a talent agency requires careful research and strategic planning. By following the nine steps outlined in this checklist, you can develop a solid foundation for your agency and increase your chances of success in the industry.

  • Research the talent agency industry and market trends to stay informed and adapt to the changing landscape.
  • Identify your target audience and talent niche to focus your efforts and cater to specific needs.
  • Define your unique value proposition and competitive advantage to differentiate yourself from other agencies.
  • Conduct a comprehensive competitor analysis to understand the market landscape and identify areas of opportunity.
  • Determine the legal structure of your talent agency to ensure compliance and protect your interests.
  • Develop a detailed financial plan, including startup costs and projections, to effectively manage your finances.
  • Create a branding and marketing strategy to build awareness and attract clients and talent.
  • Build a network of industry professionals and potential clients to establish credibility and generate opportunities.
  • Outline a staffing plan and recruit key team members to support your agency's growth and operations.

By following these steps and continuously adapting to the ever-evolving industry, your talent agency can thrive and make a meaningful impact in the world of entertainment.

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April 20, 2020

How to create a business plan for your insurance agency, 12 min read.

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Topic: Insurance Marketing Insurance Agency Management sales Start an Agency Grow an Agency

“What’s the plan?”

That’s the question my wife and I ask each other every day about 3:00 in the afternoon. We have pretty busy lives with multiple businesses, children, hobbies, and activities to manage. So, probably just like you, we need a plan to get it all done!

If a plan is important for getting a family through the day, how much more important is a plan for an insurance agency with customers to serve, sales to make, companies to satisfy, and employees to manage?

It’s critical.

But who has time to plan with all that going on?

That’s a great and valid question. The other one for the typical Type A insurance business owner is, “Can I get someone else to do it for me?” and, “What’s the minimum planning that will yield the most impact?” 

Assuming you have goals to meet and would like every day to be something other than crisis management, let’s take a look at this from a high level. 

Getting Started With Your Business Plan

Creating a business plan sounds like work, doesn’t it? It doesn’t have to be. Really, this process is as simple as putting on paper your three-to-five-year goals and general means to achieve them. 

For example, this is a super-simple plan template:

What are sales going to be each year for 3 years?

Net profits? What do you want your balance sheet to look like? 

What is your ideal business mix? What products and services do you want to sell the most of?

What kind of customers do you want to serve? What do they look like demographically (i.e. target market)?

How many employees does it take to get this done? 

A plan can be a whole lot more complicated, and potentially more valuable, but if you have lots to do, this takes a couple of minutes and it’s a great start.

Consider This Question To Help You Focus:

During lunch with a successful entrepreneur in a business completely unrelated to mine, he asked me this wonderful and powerful question during our meal.

“What are the best opportunities in front of you right now?”

That question really focuses the mind.

I was able to give him an immediate answer and listed for him four priorities for myself and my team. We have more than four opportunities in front of us, so I was interested in my own immediate reaction. You see, like most entrepreneurs and small business owners, I am constantly seeing opportunities and weighing my capabilities and interests.

I answered my friend with four things and a quick note as to why they were important and valuable for our business. It didn’t take a lengthy market analysis or sales forecasting - the question really helped me to focus, prioritize, and verbalize what I want to capitalize on out of many choices. It happened in an instant and will now guide us as we plan for the next year or two - this is the simplest version of an executive summary and it will guide our sales strategy.

OAA Highlight - How to Create A Business Plan

Most successful business owners are highly focused people, who don’t pursue every single business idea that runs through their heads. They understand that resources like time, capital, and people are limited. Regardless of their relative level of optimism (an absolute requirement and one of the main keys to success opportunities, but the more successful they become, the more realistic actual opportunities are for them.

So, as they go about building a bigger and bigger future, choosing which opportunities to pursue every year of operation becomes an ever more important task.

As we face the future and the demands of many others who want us to focus on their priorities (opportunities!), choosing which things we will concentrate our efforts on becomes a critical decision for every insurance agent and businessperson.

What about you? What are the best opportunities in front of you right now? Those are the ones to focus your planning.

Let’s Do Some Thinking

Everyone, and every business, is different. I start planning for the next year in the fourth quarter of the year before. Your timing may be different than mine. But you do set aside time to think about the business and plan for the coming year, don’t you? Or do you just let it happen?

This is a great time to be honest with ourselves about this! Let me suggest that if you don’t do annual thinking that you consider it. It’s not hard. It doesn’t have to take a long time but is really important in sustaining growth .

Here are some of the things I think about.

What can we accomplish?

What is a revenue goal that is achievable within our current capabilities? As I think about this I ponder the knowns about what the market is doing and which insurance products are more likely to sell.

Are rates up or down? Has the weather this year been good or bad?

What can we expect from Profit Sharing and PMSF (you do get PMSF, don’t you?)

What kind of activity and results are our current marketing efforts producing? How is our market share?

What is going to happen to overhead next year? 

Do we have rent increases, automation increases, or other overhead cost increases coming?

What about employee benefits and payroll?

Do we need additional employees to manage the expected normal growth?

Do we have a place for them to work? Equipment to use?

When do we need them?

Now comes the fun part! 

What could we do if we really stretched ourselves? 

If we are to do that, what else must we do?

Do we need to increase marketing investment?

Are there any potential investors we should talk to?

Hire additional people? Modify compensation strategies?

Open another office or expand this one?

Add a CRM program?

These and endless other things can and should be considered.

We can’t develop a plan for our business until we spend time thinking about it. Perhaps you do this ad hoc from time to time, but now is the time to organize your thinking and your thoughts and start putting things in written form, even if it’s just a few paragraphs. It’s time to think!

Now, Let’s Do Some Planning

I’ve described the thinking process that I use during the early fall to begin to get ready for a productive, growing period in the coming year. The results of the current year are beginning to take shape and the business environment is more clearly understood. After the thinking process comes planning.

Relax! This doesn’t have to be, nor should it be, complicated or time-consuming for a growing agency. Let me encourage you to make a plan that can be put on one sheet of paper. Two at the most. 

If you can’t describe your plans for a year in that space you probably can’t do it all either.

How I Do It

What I do is take the things I’ve uncovered in my thinking process and first use them to create a simple budget:

I increase current year results by what I think is the “steady as she goes” growth and expected rate, profit sharing, PMSF and other revenue changes should produce and put that in a month by month spreadsheet.

Then I take the overhead thinking I’ve done and put that into the expense ledger. Now I’ve got a simple budget. Is the result of that budget what I want it to be based on my goal setting? Or not? If not, I begin to tweak.

Once the budget is all tweaked up I turn to the thinking about the growth goals I want. What does that do to income? What expense increases are required? Those go down on paper and I work on this until I’m satisfied.

This is still not planning! This is budgeting. Now comes the plan:

  • What will be required to get the results we are forecasting? (See the next section!)
  • When and how will we market ?
  • What changes to our website, social media , phone program, referral program, etc. do we need to make?
  • Do we need more employees , insurance companies, cell phones, or other tools? When and where do we plan to acquire them?
  • What else do we need to schedule to do to make the budget work out?

This is planning! See, it’s not hard. It’s really easy when you think about it first!

Now that you’ve done the thinking and planning, next year will be easy. And if you execute on the simple plan you’ve built, tweaking as you go, you’ll get wherever it is you want to go!

More Things to Consider for Your Business Plan

How much activity do you need to get the results you want.

The “Silver Bullet” to agency growth is activity. One of the natural questions is how much? How much activity will it take to get x results? Really, the question is what do I need to do? What do I need to plan for? 

Great questions!

To answer your questions I need a little more information. So, here are my questions to you:

What is your growth goal?

What is your average sale?

What is your closing ratio?

How do you get prospects?

Let’s assume I want to add $25,000 in commission revenue to my agency (growth goal). And let’s assume my average sale nets me $450 (note: this is commission, not premium). 

Let’s also assume I’m an average salesperson and my closing ratio is 35%. Lastly, let’s assume I get my prospects from a direct mail campaign and my response rate is 1.5% of pieces mailed. 

From these assumptions “how much” becomes very clear. 

  • I need 56 sales! ($25,000 goal divided by $450 average sale).
  • I need 160 prospects! (56 sales divided by 35%).
  • I need to mail 10,650 mail pieces (160 prospects divided by 1.5%)

Don’t get hung up on whether you think direct mail is the best way to advertise, or whether you think my closing ratio is good or bad. That’s not the point. The point is, if you know some very basic numbers, you can figure out very easily how much activity you need to reach your goal!

Everyone has a different idea about the best way to sell insurance. We all have different goals, talents, resources, and abilities. But we can all achieve our goals with the appropriate amount of activity. 

Success is simple. Figure out “how much”. Then go do it!

Pay the Business First

One of our Agency Development team recently met with one of our agencies to work with them on business planning. This is a great thing, because without a plan it is virtually impossible to grow rapidly. This particular agent is my favorite kind of person: a dreamer with big dreams! They are ambitious, hard-working, and highly motivated

In their discussions, the agent and our Development Specialist talked about the agent's desire to hire producers and to build their own office building. Both are potentially great ideas. However, there is a small problem: money.

Our agent owner didn't have any…

When we start our businesses, we entrepreneurs usually need every nickel we can find, right? Every dollar that isn't nailed down often finds its way into gasoline, rent, or shoes for the kids. This is normal. But as the business begins to prosper there is a choice to be made: buy nicer stuff, or feed the business.

OAA Highlight - How to Create A Business Plan

We often see agencies with little or no working capital, and without working capital, you simply can't expand, because you can't fund a producer. What bank is going to lend you money on a building when you haven't got any? None. Those days are gone forever.

My partner and I started our agency in 1996, and we didn't take a profit out of the business - not even to pay taxes - until 2003! We were reinvesting all our money in the business.

This is what you must do if you want to keep growing. That doesn't mean you can't take money to improve your family's situation - you can. Do that by increasing your salary over time.

But if you want to keep growing, give the business a raise before you give yourself one. 

Our method was to decide each year what the business was going to make in net profits. Until that number was satisfied we didn't get paid and we didn't get a raise either. This method allowed the business to have the money - its lifeblood! - that it needed to keep expanding.

Look around at the successful people you know. The businesses you admire. Very few of them got where they are except by following this little principle:

Pay The Business First!

Make sure your hours match your business plan .

The world is changing. Technology is taking customers away from us. The new world demands a higher level of service and availability from anyone who wants to sell anything.

If, as an independent agent, personal service is the competitive advantage that will help you reach your goals, why aren’t you open more?

I was at the office on a Saturday morning, and I received a nice note from one of our new members about one of our great team members (thanks Natalie!). I fired off a quick “thank you” to the member and said, “Glad to see another entrepreneur working on a Saturday!”

What was interesting was his response, which I quote verbatim:

“Yep. Many can only come in on Saturday. Plus set up apt to sign two Travelers app issued via Access Plus. And doing an auto and home app for Safeco.”

Why was he working on a Saturday?

Because that was the only time prospects and customers can come to see him.

It seems obvious that anyone trying to sell anything would go where the customers are when they are there.

So, why are almost all insurance agencies only open Monday through Friday from 8:00 am to 5:00 pm? By now, even banks have figured out for a couple of decades now that they need to be open past 5 o’clock and be open on Saturday. 

Mom and Pop businesses all across America have wrung their hands while they went bankrupt when Walmart came to town. They complained they couldn’t compete on price.

I think it’s much more than that. They refused to compete on service. They weren’t there when the customer needed them.

When will insurance agencies get the message? Before for or after bankruptcy?

Build Your Business Plan for the Long Term

“you must prepare for the future if you want one.”.

Plant acorns.

Tyler Asher, President of Safeco Insurance Company, made this headline statement in a speech to an SIAA semi-annual meeting in Boston. His comment was made in the context of a list of things his company is working on to sustain their growth and prepare for a future insurance market, much different from today’s.

Blog-Image-Climb-Men

If you just take the statement at face value it makes a lot of sense, doesn’t it? Of course, we must all prepare for a bigger future if we want one, and oak is a great symbol of strength and stability. I was immediately captivated by the idea.

But, where the analogy breaks down for me is that it takes a long time to grow oak trees, and the future is coming upon us with breathtaking speed. Do we really have time to grow oak trees?

Then I thought again about a Jeff Bezos quote I wrote about where he says he is more concerned about what stays the same in the next 10 years than about what changes. 

I’ve decided that it’s the intersection of Asher and Bezos where we, as independent agency owners, need to focus.

For example, it’s estimated that 60% of the employees in our industry will retire in the next seven years, and if you believe “Outliers” author, Malcolm Gladwell, it takes at least five years (10,000 hours) to train an expert in anything. 

I believe, channeling Bezos, that customer service and person-to-person selling will be as important to agency success in the future as it is now. So, how are we going to replace the oak trees (people) in our industry fast enough to secure our future?

I don’t have an answer. But, it’s an incredibly important question for anyone who plans to continue to make this industry their career in the decade ahead.

In our organization, we are creating a streamlined training curriculum, coupled with third party courses and old fashioned apprenticeship, to meet our needs for new blood. Frankly, it’s expensive to do this. But the only other options are to hire other’s problems (which is getting harder and more expensive to do) or go out of business.

The need to invest in new people comes while commission compression and new competition (in the form of online sellers) are beginning to stress some agency income statements. As Tyler Asher points out, you must prepare for the future if you want one. 

Viewed in this way, spending on new employees is an investment, not a cost, and the promise of the future is a profitable business built for the long term.

The UnCaptive Agent

Tony Caldwell

Tony Caldwell is a modern “renaissance man,” who is not only immensely successful in the field of insurance, but is also a writer, children’s advocate, mentor and even a licensed pilot. Always keen on helping others make their dreams come true, Tony and his team have helped independent agents grow into more than 250 independent agencies. This has made OAA the number one ranked Strategic Master Agency of SIAA for the last 5 years, and one of Oklahoma's 25 Best Companies to Work for. Tony loves to share his knowledge, insight and wisdom through his bestselling books as well as in free mediums including podcasts and blogs. Tony and his family are members of Crossings Community Church, and he is very active in community initiatives: he’s chairman of It’s My Community Initiative, Inc., a nonprofit working with disadvantaged people in Oklahoma City; and chairman of the Oklahoma Board of Juvenile Affairs., and he has served through many other organizations including the Salvation Army, Last Frontier Council of the Boy Scouts of America, and the Rotary Club. In his spare time, Tony enjoys time with his family. He’s also an active outdoorsman and instrument-rated commercial pilot.

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Create a form in Word that users can complete or print

In Word, you can create a form that others can fill out and save or print.  To do this, you will start with baseline content in a document, potentially via a form template.  Then you can add content controls for elements such as check boxes, text boxes, date pickers, and drop-down lists. Optionally, these content controls can be linked to database information.  Following are the recommended action steps in sequence.  

Show the Developer tab

In Word, be sure you have the Developer tab displayed in the ribbon.  (See how here:  Show the developer tab .)

Open a template or a blank document on which to base the form

You can start with a template or just start from scratch with a blank document.

Start with a form template

Go to File > New .

In the  Search for online templates  field, type  Forms or the kind of form you want. Then press Enter .

In the displayed results, right-click any item, then select  Create. 

Start with a blank document 

Select Blank document .

Add content to the form

Go to the  Developer  tab Controls section where you can choose controls to add to your document or form. Hover over any icon therein to see what control type it represents. The various control types are described below. You can set properties on a control once it has been inserted.

To delete a content control, right-click it, then select Remove content control  in the pop-up menu. 

Note:  You can print a form that was created via content controls. However, the boxes around the content controls will not print.

Insert a text control

The rich text content control enables users to format text (e.g., bold, italic) and type multiple paragraphs. To limit these capabilities, use the plain text content control . 

Click or tap where you want to insert the control.

Rich text control button

To learn about setting specific properties on these controls, see Set or change properties for content controls .

Insert a picture control

A picture control is most often used for templates, but you can also add a picture control to a form.

Picture control button

Insert a building block control

Use a building block control  when you want users to choose a specific block of text. These are helpful when you need to add different boilerplate text depending on the document's specific purpose. You can create rich text content controls for each version of the boilerplate text, and then use a building block control as the container for the rich text content controls.

building block gallery control

Select Developer and content controls for the building block.

Developer tab showing content controls

Insert a combo box or a drop-down list

In a combo box, users can select from a list of choices that you provide or they can type in their own information. In a drop-down list, users can only select from the list of choices.

combo box button

Select the content control, and then select Properties .

To create a list of choices, select Add under Drop-Down List Properties .

Type a choice in Display Name , such as Yes , No , or Maybe .

Repeat this step until all of the choices are in the drop-down list.

Fill in any other properties that you want.

Note:  If you select the Contents cannot be edited check box, users won’t be able to click a choice.

Insert a date picker

Click or tap where you want to insert the date picker control.

Date picker button

Insert a check box

Click or tap where you want to insert the check box control.

Check box button

Use the legacy form controls

Legacy form controls are for compatibility with older versions of Word and consist of legacy form and Active X controls.

Click or tap where you want to insert a legacy control.

Legacy control button

Select the Legacy Form control or Active X Control that you want to include.

Set or change properties for content controls

Each content control has properties that you can set or change. For example, the Date Picker control offers options for the format you want to use to display the date.

Select the content control that you want to change.

Go to Developer > Properties .

Controls Properties  button

Change the properties that you want.

Add protection to a form

If you want to limit how much others can edit or format a form, use the Restrict Editing command:

Open the form that you want to lock or protect.

Select Developer > Restrict Editing .

Restrict editing button

After selecting restrictions, select Yes, Start Enforcing Protection .

Restrict editing panel

Advanced Tip:

If you want to protect only parts of the document, separate the document into sections and only protect the sections you want.

To do this, choose Select Sections in the Restrict Editing panel. For more info on sections, see Insert a section break .

Sections selector on Resrict sections panel

If the developer tab isn't displayed in the ribbon, see Show the Developer tab .

Open a template or use a blank document

To create a form in Word that others can fill out, start with a template or document and add content controls. Content controls include things like check boxes, text boxes, and drop-down lists. If you’re familiar with databases, these content controls can even be linked to data.

Go to File > New from Template .

New from template option

In Search, type form .

Double-click the template you want to use.

Select File > Save As , and pick a location to save the form.

In Save As , type a file name and then select Save .

Start with a blank document

Go to File > New Document .

New document option

Go to File > Save As .

Go to Developer , and then choose the controls that you want to add to the document or form. To remove a content control, select the control and press Delete. You can set Options on controls once inserted. From Options, you can add entry and exit macros to run when users interact with the controls, as well as list items for combo boxes, .

Adding content controls to your form

In the document, click or tap where you want to add a content control.

On Developer , select Text Box , Check Box , or Combo Box .

Developer tab with content controls

To set specific properties for the control, select Options , and set .

Repeat steps 1 through 3 for each control that you want to add.

Set options

Options let you set common settings, as well as control specific settings. Select a control and then select Options to set up or make changes.

Set common properties.

Select Macro to Run on lets you choose a recorded or custom macro to run on Entry or Exit from the field.

Bookmark Set a unique name or bookmark for each control.

Calculate on exit This forces Word to run or refresh any calculations, such as total price when the user exits the field.

Add Help Text Give hints or instructions for each field.

OK Saves settings and exits the panel.

Cancel Forgets changes and exits the panel.

Set specific properties for a Text box

Type Select form Regular text, Number, Date, Current Date, Current Time, or Calculation.

Default text sets optional instructional text that's displayed in the text box before the user types in the field. Set Text box enabled to allow the user to enter text into the field.

Maximum length sets the length of text that a user can enter. The default is Unlimited .

Text format can set whether text automatically formats to Uppercase , Lowercase , First capital, or Title case .

Text box enabled Lets the user enter text into a field. If there is default text, user text replaces it.

Set specific properties for a Check box .

Default Value Choose between Not checked or checked as default.

Checkbox size Set a size Exactly or Auto to change size as needed.

Check box enabled Lets the user check or clear the text box.

Set specific properties for a Combo box

Drop-down item Type in strings for the list box items. Press + or Enter to add an item to the list.

Items in drop-down list Shows your current list. Select an item and use the up or down arrows to change the order, Press - to remove a selected item.

Drop-down enabled Lets the user open the combo box and make selections.

Protect the form

Go to Developer > Protect Form .

Protect form button on the Developer tab

Note:  To unprotect the form and continue editing, select Protect Form again.

Save and close the form.

Test the form (optional)

If you want, you can test the form before you distribute it.

Protect the form.

Reopen the form, fill it out as the user would, and then save a copy.

Creating fillable forms isn’t available in Word for the web.

You can create the form with the desktop version of Word with the instructions in Create a fillable form .

When you save the document and reopen it in Word for the web, you’ll see the changes you made.

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Sony to partner with U.S.-based Seagate Technology on mass production of hard disk drives (HDDs) to meet growing AI demand, the Nikkei newspaper reported on Friday.

United Nations Secretary-General Antonio Guterres speaks in Kampala, Uganda

CDC plans to drop five-day covid isolation guidelines

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Americans who test positive for the coronavirus no longer need to routinely stay home from work and school for five days under new guidance planned by the Centers for Disease Control and Prevention.

The agency is loosening its covid isolation recommendations for the first time since 2021 to align it with guidance on how to avoid transmitting flu and RSV, according to four agency officials and an expert familiar with the discussions.

CDC officials acknowledged in internal discussions and in a briefing last week with state health officials how much the covid-19 landscape has changed since the virus emerged four years ago, killing nearly 1.2 million people in the United States and shuttering businesses and schools. The new reality — with most people having developed a level of immunity to the virus because of prior infection or vaccination — warrants a shift to a more practical approach, experts and health officials say.

“Public health has to be realistic,” said Michael T. Osterholm, an infectious-disease expert at the University of Minnesota. “In making recommendations to the public today, we have to try to get the most out of what people are willing to do. … You can be absolutely right in the science and yet accomplish nothing because no one will listen to you.”

The CDC plans to recommend that people who test positive for the coronavirus use clinical symptoms to determine when to end isolation. Under the new approach, people would no longer need to stay home if they have been fever-free for at least 24 hours without the aid of medication and their symptoms are mild and improving, according to three agency officials who spoke on the condition of anonymity to share internal discussions.

Here is the current CDC guidance on isolation and precautions for people with covid-19

The federal recommendations follow similar moves by Oregon and California . The White House has yet to sign off on the guidance that the agency is expected to release in April for public feedback, officials said. One agency official said the timing could “move around a bit” until the guidance is finalized.

Work on revising isolation guidance has been underway since last August but was paused in the fall as covid cases rose. CDC director Mandy Cohen sent staff a memo in January that listed “Pan-resp guidance-April” as a bullet point for the agency’s 2024 priorities.

Officials said they recognized the need to give the public more practical guidelines for covid-19, acknowledging that few people are following isolation guidance that hasn’t been updated since December 2021. Back then, health officials cut the recommended isolation period for people with asymptomatic coronavirus from 10 days to five because they worried essential services would be hobbled as the highly transmissible omicron variant sent infections surging. The decision was hailed by business groups and slammed by some union leaders and health experts.

Covid is here to stay. How will we know when it stops being special?

The plan to further loosen isolation guidance when the science around infectiousness has not changed is likely to prompt strong negative reaction from vulnerable groups, including people older than 65, those with weak immune systems and long-covid patients, CDC officials and experts said.

Doing so “sweeps this serious illness under the rug,” said Lara Jirmanus, a clinical instructor at Harvard Medical School and a member of the People’s CDC, a coalition of health-care workers, scientists and advocates focused on reducing the harmful effects of covid-19.

Public health officials should treat covid differently from other respiratory viruses, she said, because it’s deadlier than the flu and increases the risk of developing long-term complications . As many as 7 percent of Americans report having suffered from a slew of lingering covid symptoms, including fatigue, difficulty breathing, brain fog, joint pain and ongoing loss of taste and smell, according to the CDC.

The new isolation recommendations would not apply to hospitals and other health-care settings with more vulnerable populations, CDC officials said.

While the coronavirus continues to cause serious illness, especially among the most vulnerable people, vaccines and effective treatments such as Paxlovid are available. The latest versions of coronavirus vaccines were 54 percent effective at preventing symptomatic infection in adults, according to data released Feb. 1, the first U.S. study to assess how well the shots work against the most recent coronavirus variant. But CDC data shows only 22 percent of adults and 12 percent of children had received the updated vaccine as of Feb. 9, despite data showing the vaccines provide robust protection against serious illness .

Coronavirus levels in wastewater i ndicate that symptomatic and asymptomatic infections remain high. About 20,000 people are still hospitalized — and about 2,300 are dying — every week, CDC data show. But the numbers are falling and are much lower than when deaths peaked in January 2021 when almost 26,000 people died of covid each week and about 115,000 were hospitalized.

The lower rates of hospitalizations were among the reasons California shortened its five-day isolation recommendation last month , urging people to stay home until they are fever-free for 24 hours and their symptoms are mild and improving. Oregon made a similar move last May.

California’s state epidemiologist Erica Pan said the societal disruptions that resulted from strict isolation guidelines also helped spur the change. Workers without sick leave and those who can’t work from home if they or their children test positive and are required to isolate bore a disproportionate burden. Strict isolation requirements can act as a disincentive to test when testing should be encouraged so people at risk for serious illness can get treatment, she said.

Giving people symptom-based guidance, similar to what is already recommended for flu, is a better way to prioritize those most at risk and balance the potential for disruptive impacts on schools and workplaces, Pan said. After Oregon made its change, the state has not experienced any disproportionate increases in community transmission or severity, according to data shared last month with the national association representing state health officials.

California still recommends people with covid wear masks indoors when they are around others for 10 days after testing positive — even if they have no symptoms — or becoming sick. “You may remove your mask sooner than 10 days if you have two sequential negative tests at least one day apart,” the California guidance states.

It’s not clear whether the updated CDC guidance will continue to recommend masking for 10 days.

Health officials from other states told the CDC last week that they are already moving toward isolation guidelines that would treat the coronavirus the same as flu and RSV, with additional precautions for people at high risk, said Anne Zink, an emergency room physician and Alaska’s chief medical officer.

Many other countries, including the United Kingdom, Denmark, Finland, Norway and Australia, made changes to isolation recommendations in 2022. Of 16 countries whose policies California officials reviewed, only Germany and Ireland still recommend isolation for five days, according to a presentation the California public health department gave health officials from other states in January. The Singapore ministry of health, in updated guidance late last year, said residents could “return to normal activities” once coronavirus symptoms resolve.

Even before the Biden administration ended the public health emergency last May, much of the public had moved on from covid-19, with many people having long given up testing and masking, much less isolating when they come down with covid symptoms.

Doctors say the best way for sick people to protect their communities is to mask or avoid unnecessary trips outside the home.

“You see a lot of people with symptoms — you don’t know if they have covid or influenza or RSV — but in all three of those cases, they probably shouldn’t be at Target, coughing, and looking sick,” said Eli Perencevich, an internal medicine professor at the University of Iowa.

Coronavirus: What you need to know

New covid variant: The United States is in the throes of another covid-19 uptick and coronavirus samples detected in wastewater suggests infections could be as rampant as they were last winter. JN.1, the new dominant variant , appears to be especially adept at infecting those who have been vaccinated or previously infected. Here’s how this covid surge compares with earlier spikes .

Covid ER visits rise: Covid-19, flu and RSV are rebounding in the United States ahead of the end-of-year holidays, with emergency room visits for the three respiratory viruses collectively reaching their highest levels since February.

New coronavirus booster: The Centers for Disease Control and Prevention recommends that anyone 6 months or older get an updated coronavirus shot , but the vaccine rollout has seen some hiccups , especially for children . Here’s what you need to know about the new coronavirus vaccines , including when you should get it.

  • CDC plans to drop five-day covid isolation guidelines February 13, 2024 CDC plans to drop five-day covid isolation guidelines February 13, 2024
  • Is this covid surge really the second biggest? Here’s what data shows. January 12, 2024 Is this covid surge really the second biggest? Here’s what data shows. January 12, 2024
  • Covid kills nearly 10,000 in a month as holidays fuel spread, WHO says January 11, 2024 Covid kills nearly 10,000 in a month as holidays fuel spread, WHO says January 11, 2024

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Biden student loan forgiveness plan: Administration reveals who may qualify

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  • The Biden administration released its proposal for which struggling borrowers should qualify for its new student loan forgiveness plan.
  • It said that receiving a Pell Grant, having a disability and a person's age could be factors signaling hardship.

The Biden administration has released its proposal for which struggling borrowers should qualify for its new student loan forgiveness plan.

The Supreme Court's conservative majority blocked President Joe Biden 's first aid package last year. In an effort to create a loan forgiveness program that is legally viable, the Biden administration is working to narrow the relief by focusing on certain groups of borrowers, including those with balances greater than what they originally borrowed and students from schools of questionable quality.

Its new proposal concerns borrowers experiencing financial hardship , the category that has remained the most vague.

The U.S. Department of Education outlined on Thursday a set of factors that could identify struggling borrowers, such as those with student loan balances and required payments that are unreasonable relative to their household income, and people with high child-care and health-care expenses. It also said that financial hardship could be based on other debt obligations, disability, or age, among other factors.

More from Personal Finance: Why the 'last mile' of inflation fight may be tough Why disinflation is 'more ideal' than deflation Workers may be unfairly sour on the job market

"The ideas we are outlining today will allow us to help struggling borrowers who are experiencing hardships in their lives, and they are part of President Biden's overall plan to give breathing room to as many student loan borrowers as possible," Department of Education Undersecretary James Kvaal said in a statement.

At one point, it seemed possible that the "financial hardship" category had been dropped from what has become known as  Biden's Plan B for student loan forgiveness . While Biden first attempted to cancel student debt through an executive order, he has now turned to the rulemaking process.

Over three rulemaking sessions, the negotiators tasked with determining who will be eligible for the president's revised relief plan identified several  categories  that could signal hardship. Those include borrowers who received a Pell Grant or qualified for a health insurance subsidy on the Affordable Care Act's marketplace.

But the Education Department did not include language on borrowers in hardship in its relief proposal, and the negotiators didn't get to vote on the category.

Shortly after the rulemaking sessions, lawmakers including Sen. Elizabeth Warren, D-Mass. and Rep. James Clyburn, D-S.C.,  wrote  to U.S. Secretary of Education Miguel Cardona on Jan. 24., pressuring him to still consider struggling borrowers for relief.

"We are concerned that, without full consideration of cancellation targeted toward borrowers facing financial hardship, the rule will not provide adequate debt relief for the most vulnerable borrowers," the lawmakers said.

The Biden administration seems to have heard those worries. The Education Dept. said it will hold an additional rulemaking session on Feb. 22 and Feb. 23, during which the negotiating committee will focus exclusively on financially strapped borrowers. Its own proposal suggests the category could cover millions of Americans.

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Date night strike: Thousands of US, UK delivery, ride-hailing drivers stop work on Valentine’s Day

Dozens of ride-hailing workers participated in a strike on Valentine’s Day at O’Hare Airport, calling for higher pay and better working conditions. (Feb. 14)

People protest ride-hailing companies like Uber, Lyft and others in the Transportation Network Provider parking lot at O'Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

People protest ride-hailing companies like Uber, Lyft and others in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

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Ride-share drivers protest near Orlando International Airport at Airport Lakes Park, Wednesday, Feb. 14, 2024, in Orlando, Fla. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (Joe Burbank/Orlando Sentinel via AP)

People wait in the ride-hailing pickup area at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Ride-hailing workers were protesting companies like Uber and Lyft across the country Wednesday, demanding better wages and safer working conditions. (AP Photo/Erin Hooley)

People wait in the ride-hailing pickup area at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. ride-hailing and delivery workers were protesting companies like Uber and Lyft across the country Wednesday, demanding better wages and safer working conditions. (AP Photo/Erin Hooley)

Carmen Peralta joins other ride-hailing and delivery workers in protest of Uber, Lyft and other companies in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

An authorization sticker is displayed on a vehicle in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Ride-hailing and delivery workers were protesting companies like Uber and Lyft across the country Wednesday, demanding better wages and safer working conditions. (AP Photo/Erin Hooley)

Rideshare vehicles are parked in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (AP Photo/Erin Hooley)

People wait in the rideshare pickup area at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (AP Photo/Erin Hooley)

Blossom Boston joins other ride-hailing and delivery workers in protest of Uber, Lyft and other companies in the Transportation Network Provider parking lot at O’Hare International Airport, Wednesday, Feb. 14, 2024, in Chicago. (AP Photo/Erin Hooley)

Uber and Lyft driver Marcus Cruz, center, joins other rideshare drivers at a rally for batter pay and working conditions at Austin-Bergstrom International Airport in Austin, Texas, Wednesday Feb. 14, 2024. Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions. (Jay Janner/Austin American-Statesman via AP)

FILE - In this Feb. 9, 2021 file photo, a passer-by walks past a sign offering directions to an Uber and Lyft ride pickup location at Logan International Airport, in Boston. Thousands of U.S. ride-hailing workers plan to park their cars and picket at major U.S. airports Wednesday, Feb. 14, 2024, in what organizers say is their largest strike yet in a drive for better pay and benefits. (AP Photo/Steven Senne, File)

FILE - In this Jan. 12, 2016, file photo, a ride share car displays Lyft and Uber stickers on its front windshield in downtown Los Angeles. Thousands of U.S. ride-hailing workers plan to park their cars and picket at major U.S. airports Wednesday, Feb. 14, 2024, in what organizers say is their largest strike yet in a drive for better pay and benefits. (AP Photo/Richard Vogel, File)

Thousands of ride-hailing and delivery workers in the U.S. and the U.K. went on strike on Valentine’s Day, calling for higher pay and other changes to their working conditions.

In the U.S., Uber and Lyft drivers planned daylong strikes in Chicago; Philadelphia; Pittsburgh; Miami; Orlando and Tampa, Florida; Hartford, Connecticut; Newark, New Jersey; Austin, Texas; and Providence, Rhode Island. Drivers were also holding midday demonstrations at airports in those cities, according to Justice for App Workers, the group organizing the effort.

Meanwhile, U.K. delivery drivers for Uber Eats, Deliveroo, Just Eat and Stuart said they would turn off their apps and refuse deliveries between 5 p.m. and 10 p.m. The group Delivery Job U.K., which called for the walkout, said on Instagram that the strike was “a crucial opportunity to be seen and heard by society.”

Of eight delivery drivers who spoke with The Associated Press on the streets of London Wednesday, all but one said they planned to halt work at 5 p.m. Several, however, questioned whether the strike was long enough to make enough of a financial dent in the businesses.

FILE - An Uber sign is displayed inside a car, May 15, 2020, in Chicago. The Biden administration will enact a new labor rule Tuesday, Jan. 9, 2024, that aims to prevent the misclassification of workers as “independent contractors,” a step that could bolster both legal protections and compensation for many in the U.S. workforce. (AP Photo/Nam Y. Huh, File)

“One day is not effective,” said Evadur Rahman. “If we strike more than one day — two, three, four days — they’re gonna be affected.”

Rahman, a Deliveroo driver who planned to participate in the strike, said his daily pay dropped in recent months from about 140 pounds ($175) for eight hours of work to around 100 pounds ($126). He said he wanted the company to raise the minimum rate it pays per order from 2.90 pounds ($3.64) to closer to 5 pounds ($6.28).

“They must improve the minimum pay,” Rahman said. “It’s not enough for survival in this country.”

Justice for App Workers estimated that thousands of drivers stopped working Wednesday, and said that workers in 12 or more cities beyond the original 10 had held impromptu demonstrations. Delivery Job U.K. had expected 3,000 people to strike.

Jocilyn Floyd, who has been driving for Uber for nearly a decade, joined the picket line Wednesday at O’Hare International Airport in Chicago.

“Uber has proven time and time again that they’re putting profits over people. In shareholder meetings they discuss profits; there’s no question about safety, protection from deactivation or compensation,” Floyd said.

Uber said Wednesday that the strike wasn’t hurting driver availability or customer demand.

“Despite the headlines, we’ve seen no impact to our operations or reliability for riders. In fact, in most markets there are more drivers on the road today than there were during the same period last week,” an Uber spokesperson said.

Uber and other companies that rely on self-employed gig workers say those workers appreciate the flexibility of the job. But many gig workers are pushing to unionize, saying that would give them the ability to bargain over compensation, safety measures and other benefits.

In November, that unionization effort saw a setback in the U.K. , when Britain’s top court ruled that Deliveroo couriers don’t have collective bargaining rights because they aren’t considered employees.

Deliveroo said Wednesday that it has a voluntary partnership with a union that includes annual discussions on pay and it also provides couriers with free insurance and sick pay.

“Rider retention rates are high and the overwhelming majority of riders tell us that they are satisfied working with us,” the company said in a statement.

Rachel Gumpert, the spokesperson for Justice for App Workers, described ride-hailing as a “mobile sweatshop,” with some workers routinely putting in 60 to 80 hours per week. Justice for App Workers, which says it represents 130,000 ride-hailing and delivery workers, is seeking higher wages, access to health care and an appeals process so companies can’t deactivate drivers without warning.

But ride-hailing companies say they already pay a fair wage and have an appeals process in place for deactivations.

Earlier this month, Lyft said it began guaranteeing that drivers will make at least 70% of their fares each week, and it lays out its fees more clearly for drivers in a new earnings statement. Lyft also unveiled a new in-app button that lets drivers appeal deactivation decisions.

“We are constantly working to improve the driver experience,” Lyft said in a statement. Its U.S. drivers make an average of $30.68 per hour, or $23.46 per hour after expenses, Lyft said.

Uber said its U.S. drivers make an average of $33 per hour. The company also said it allows drivers to dispute deactivations.

Associated Press writers Jill Lawless and Brian Melley reported from London. Associated Press Video Journalist Melissa Perez Winder reported from Chicago.

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NASA explains how it would alert the public of an apocalyptic asteroid strike

  • NASA works with a worldwide coalition of astronomers to find and track dangerous asteroids.
  • In the event of an impending hazardous asteroid strike, NASA already has its plan in place to alert the public.
  • Whether it could save Earth from such a disaster is a matter of timing. 

Insider Today

When the Chicxulub impactor, a six-mile-wide asteroid, struck Earth 66 million years ago, the dinosaurs had no warning . 

If an asteroid that size hit Earth today, a shock wave two million times more powerful than a hydrogen bomb would flatten forests and trigger tsunamis. A seismic pulse equal to a magnitude 10 earthquake would crumble cities. And long after the impact, a cloud of hot dust, ash, and steam would blot out the sun, plunging the Earth into freezing cold. 

But at least we'd probably know it was coming ahead of time. And if NASA has anything to say about it, we may even be able to prevent the apocalypse. 

NASA’s Planetary Defense Coordination Office is tasked with finding, tracking, and assessing the risk associated with potentially hazardous asteroids in our solar system.

“We definitely want to find all those before they find us,” said Lindley Johnson , Lead Program Executive for the Planetary Defense Coordination Office.

To do that, NASA works with a global coalition of astronomers called the International Asteroid Warning Network (IAWN). 

Here’s what they would do if an apocalyptic asteroid strike was headed toward Earth. 

An international warning system 

In the event that a dangerous asteroid is headed toward Earth, IAWN has procedures in place to notify the public. 

First, the party members who detected the threat would share their observations across the IAWN network to verify their findings and assess the danger.

Once all parties agree that Earth should brace for impact, NASA would send out an alert.

“I don’t have a red phone on my desk or anything,” Johnson said. “But we do have formal procedures by which notification of a serious impact would be provided.”

If the asteroid was headed toward the US, NASA would notify the White House, and the government would release a formal statement to the public. If it was big enough to pose an international threat, IAWN would notify the United Nations Office of Outer Space Affairs.

Hunting for asteroids 

An asteroid is considered “ potentially hazardous ” if it is larger than roughly 460 feet across and intersects Earth’s orbit at a minimum distance of 0.5 astronomical units, which is half the distance between Earth and the sun. 

There are about 2,300 known potentially hazardous asteroids out there, and roughly 153 of them are larger than 0.6 miles across. That’s big enough to trigger a catastrophe if one struck Earth.

To find and track them, NASA and the other IAWN partners look for new asteroids in addition to tracking ones that have already been discovered. All their observations get compiled into a database at the Minor Planet Center.

So far, IAWN has found over 34,000 near-Earth asteroids. With enough observational data, NASA can confidently predict their orbits at least a century into the future, Johnson said.

There’s a slim chance that the potentially hazardous Bennu asteroid could hit Earth in 159 years, triggering an explosion equal to 24 nuclear bombs. But the odds of that happening are only about one in 2,700, according to a 2021 study .

If Bennu does head toward Earth, NASA has a few tricks up its sleeve to defend our planet.

Defending Earth

Most of the time, IAWN catches oncoming asteroids long before they become an immediate threat to Earth, according to Johnson. But NASA would need at least five to 10 years of advanced notice to prevent the apocalypse from an approaching asteroid. 

In 2021, NASA launched its first planetary defense test mission . It rammed an uncrewed spacecraft into an asteroid to shift its orbit away from Earth.

The mission was a success, and NASA plans to test more deflection techniques in the future. A developing “gravity tractor” technique would send a spacecraft to stay in position next to the asteroid and allow the gravitational interaction to pull the asteroid out of its orbit. NASA is also working on a technique that uses an ion beam to shift an asteroid's course.

But if the threat was coming in less than five years, NASA wouldn’t have time to deflect the asteroid. Then, it might resort to destruction to minimize and disperse the impact.

If NASA only had a few months of warning, then there’s not much it could do to save Earth .

Thankfully, IAWN’s strategy is to find asteroids decades, if not centuries, before the impact. 

“That gives us plenty of time to then try to do something about them while they’re still in space, so that we completely avoid any catastrophe here on Earth,” Johnson said.

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Watch: NASA's 5-step plan for when it discovers a giant, killer asteroid headed straight for Earth

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  14. Write your business plan

    Executive summary Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company's leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

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  17. Insurance Agency Business Plan Template [Updated 2024]

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  19. Craft a Winning Talent Agency Business Plan: 9-Step Checklist!

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    Let's also assume I'm an average salesperson and my closing ratio is 35%. Lastly, let's assume I get my prospects from a direct mail campaign and my response rate is 1.5% of pieces mailed. From these assumptions "how much" becomes very clear. I need 56 sales! ($25,000 goal divided by $450 average sale).

  21. 8 Steps to Starting a Social Work Agency

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  22. PDF Equity Action Plan

    LGBTQ+, 8(a) and HUBZone firms. VA will identify and work with industry associations, other Federal agencies, SBA and APEX accelerators to co-host virtual and in-person education seminars. This will allow VA to reach underserved populations across socio-economic categories. By investing in business

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