It's hard to say exactly when is the best time to invest in a staffing franchise opportunity. Recent trends are good, though. Franchising in general has been growing, according to the International Franchise Association. In 2016, the franchise industry grew faster than overall GDP, and 2017 was predicted to continue, or expand upon that trend. (Particularly so in the sunbelt.)
In an article published in June, Entrepreneur magazine had some cautionary notes for potential franchise owners, but the article also highlighted many positive aspects of owning a franchise, and advice on how to avoid common pitfalls.
Among the most fundamental considerations, the article highlights these as critical:
- Business location
- Transactional Software
At Nextaff, we couldn't agree more. This is why we provide all franchise owners with extensive training, back office support, National marketing, and follow a thorough process to ensure that potential new business owners have not only been reviewed by our company, but that each potential new owner has a clear-eyed understanding of the initial investment, process, and the ongoing commitment that successful owners make.
The State of Staffing in 2017, 2018
The world is watching for potential changes in the US Labor Department but if the only constant is change, there still are some constants. For example,
- Relatively low unemployment means it's harder for employers to hire
- With a new administration, even growing companies may be cautious about hiring permanent employees
- As many in the Baby Boomer set retire, younger workers will be needed, in every industry
How Staffing Franchises Can Fill an Obvious Need
"Our schools aren't preparing students for work," you've probably heard more than a few times. In fact, every administration since the Perkins Act was passed (in 1990) has considered and tweaked the offerings in US high schools with an eye toward preparing our up-and-coming workforce. Yet today, with a bubble of young workers potentially able to enter the workforce, there is great disparity in their training and readiness.
To be fair, the problem is not limited to the US. It's a function of population growth, and it's worldwide. The government in Scotland, for example, has an office devoted to developing its young workforce. Regional groups focus on helping students who do not follow a professional career path while in school to be prepared for the workforce after graduation.
Although a singular US Government office is not devoted to the same goals here, the need is obvious - and often discussed publickly, by voters and elected reps alike. While truly a private enterprise, staffing companies can serve much of the need, for both employers and employees. For recent (but inexperienced) grads, staffing companies offer easy access to entry-level jobs that often come with the expectation that some on-the-job training will be available (while receiving a paycheck). For employers, staffing companies provide not only a pool of vetted, ready-to-work candidates, but also the administrative help to reduce the risk associated with bringing on new employees.
On the other hand, especially with uncertainty regarding healthcare and other benefits in this country, there may be a smaller, but steady, uptick in the number of skilled workers who are interested in returning to the workforce - especially on a temporary/or part-time basis. Obviously, this bodes well for the staffing industry.
Understanding the Staffing Industry and Opportunities
We encourage anyone considering a staffing industry franchise to contact us directly or to sign up for free information and downloads about the staffing industry and to learn more about the Nextaff staffing franchise. Getting an overview of the industry, more information about the general labor market, and learning how the franchise opportunity is structured will help you make a good decision about the Nextaff staffing franchise opportunity. You can also click below to answer 3 questions to see if owning a staffing franchise is right for you.