Are you developing a temporary staffing business plan? Periods of economic fluctuation always lead to a concurrent rise in temporary staffing in general—as the economy stabilizes, gun-shy companies that have laid off employees first turn to part-time workers, contract employees, or the services of temporary staffing firms. In short, it is an excellent time to launch a temporary staffing company, particularly if you are near to a larger metropolitan area where there is sure to be a steady number of interested business and an ample base of manpower. But in order to get a successful review from a loan officer or private investor, a business plan for a temporary staffing firm needs to address the market completely and offer an integrated financial model that shows the potential for success. Some of the issues your staffing business plan must cover include:
1) Precisely what sort of placements will you make? How do you recruit talent, and what follow-up mechanisms will you have in place to ensure that engagements are fulfilled satisfactorily?
2) What percentage will you apply on workers' salary or hourly rates to profit on their employment?
3) Which marketing methods will you use to connect with firms in the local area?
4) Can you show how many companies there are in a 25-mile radius, and assess the market need for staffing support?
5) Who will your primary competitors be and what weaknesses exist in their models or customer base?
6) When do you anticipate achieving break-even and what would impact be of a downward variance in revenues of 15-20%?
7) What will your own personnel plan look like? How many full-time employees will you need in Year 3 or in Year 5?
These are the sort of issues you will want to analyze in your temporary staffing plan. The toolkit you will need access to includes the Census Bureau website, an industry reporting site like Dun & Bradstreet, and of course a working financial model from a software program or an online template. You can also contact MasterPlans to discuss outsourcing the business plan entirely. We have worked with 8,000 clients on plans ranging from staffing agencies to call centers to law firms. Our team of modeling experts, market analysts, editors, and Project Leads can get your idea from concept to execution in record time. If you feel stuck or intimidated by these requirements, let us help you write the business plan. Call 877-453-2011 to talk to a consultant.
If you are ready to go, or not sure what kind of plan you need, fill out the form below and we'll call you.