For many professionals, there comes a time in their careers when they've reached the practical top of the corporate ladder and have built up significant savings over the years. Some people coast comfortably into retirement, some learn a series of interesting hobbies, and some decide to become business owners by buying a franchise.
Starting a franchise could be one of the best possible ways to transition from being an employee to an employer. When it comes to starting your own business, a franchise is packaged with a tried and established business plan, an outline of how to run the business using industry best practices, and even guidelines on how to successfully market your business once it's ready to launch. Many capable business professionals have 'learned the ropes' of entrepreneurship with none of the unpredictability because they invested in a franchise first.
What Kind of Franchise Should You Start?
But that may also leave you wondering: What kind of franchise do you want to start? You don't have to continue with your current industry expertise because this is your opportunity to open any business you want. You could open a doughnut shop, a hardware store, or a tractor supply outlet. However, if you're good with people and know how to follow economic trends, you might just want to start a staffing franchise.
Here at the height of the War for Talent, businesses of every size need help connecting with the current talent pool. And dozens of local professionals are being overlooked for jobs because they're not talented at networking or resume writing. By building a smooth-running staffing franchise, you could make your fortune connecting employers with professionals who will thrive in their positions.
Here are five signs that starting a staffing franchise could be right for you:
1) You're A People-Person
First, a natural staffing business leader needs to be good with people. If you have a knack for making people feel at ease and getting to know them quickly, then you might be a natural for the staffing industry. Beyond judging credentials and experience, a staffing leader needs to know how to fit the right people with the right positions. You will also need to be able to identify a company's culture and find the candidates who will thrive in each employer's environment.
As a people person, you could be able to help professionals find rewarding jobs and steer them away from bad fits, to everyone's benefit.
2) You Have an Extensive Professional Network
Great staffing technique is all about networking. Not only are you in touch with professionals who are actively job-seeking and employers with open positions, but a good staffing business also has a Rolodex of professionals and businesses that might be the answer for a hard-to-place match. This means keeping in touch with everyone who walks through your doors or gives you a call.
If you are already great at networking and keeping up with an extensive professional network of personal connections, then starting a staffing agency could be a great opportunity for you. Bring your network and connections to your new business, and watch that network grow as you start making valuable matches between employers and professionals.
3) You've Done Some Hiring
Another good rule of thumb for great staffing franchisees is hiring experience. Managers who have done some hiring in their careers are more likely to understand the challenges and details of how this works. As someone who has had to hire before, you could have a better perspective on what hiring managers are really looking for and the kind of hurdles that can get in the way of a good hire.
This expertise will allow you to help candidates through a difficult hiring process and solve hiring problems for your corporate clients.
4) You're Good at Learning New Things
The staffing industry is constantly changing. Regulations change for fair hiring practices and data security, and best practices change based on technology and workforce trends. To stay on top, you'll need to be ready to think on your feet and adapt to hiring procedures as the hiring climate changes.
If you're great at adapting in the workforce and building new strategies based on new project parameters, then you could be in the right place. As an adaptive person who's quick to learn new things, you will be able to guide your staffing business through both compliance and industry trend shifts.
5) You're a Great Manager
Finally, anyone thinking of starting their own staffing agency should assess themselves as a manager. Soon, you could be managing not just a small team, but an entire business hierarchy including your lieutenants, startup team, and then the growing number of staff who help connect candidates with employers.
If you have been sharpening your managing skills for the last several years, then you could be more likely to be ready to start your own staffing agency. That experience with time management and people management could give you an edge when managing the entire staff of your new business.
If you are thinking about starting a new business, a staffing franchise might be exactly what you're looking for. Let the Nextaff team help you gear up for becoming a proud entrepreneur. For more information about starting a Nextaff staffing franchise, contact us today!