The challenging job market has many professionals considering becoming self-employed. When you consider that job seekers want flexibility and autonomy, it becomes clear that people want to work for themselves. As a franchisee, you get to create your job, be your boss, and develop working patterns that suit your lifestyle.
The first step is to ask yourself some questions. One essential question is to consider whether you should join a staffing franchise or start a hiring firm yourself. A franchise is tempting. It is a ready-made, successful business model that you can buy into and quickly get started in the business. Think Subway, Dunkin’ Donuts, Hilton Hotels, KFC and McDonald’s. The staffing and recruiting industry are now making owning a staffing franchise a viable option for entrepreneurs. So the question is should you join a staffing franchise or start your hiring firm? Here are a few insights.
If you have business experience but lack staffing industry experience, joining a staffing franchise might be the better option for you. When you join a staffing franchise, you will receive a recognizable brand name and credibility, which you probably lack. A franchise will also provide you with the proper training. However, if you are an experienced professional within the industry, your credibility is already on your resume. If this is the case, you might fare better by going it alone.
Budget and Net Worth
A crucial fact is that franchises are not cheap. Companies prefer to hire people who are already financially successful. Staffing franchises typically require an investment of anything between $15,000 and $200,000. If acquiring this amount of money is a problem for you, then a franchise might not be for you. Of course, many franchises will loan you the startup money, but this entails high risk.
Management and Leadership
Staffing agency franchises typically require two to four employees to run the franchise unit. If you join a franchise, you must be comfortable managing employees and leading teams. If management is not your strong suit, you will need to be a fast learner or take the self-employed route and only worry about managing yourself.
Do You Enjoy Sales?
Staffing and recruiting agency roles are not in-house HR and staffing roles. You will not receive the jobs. You will have to go out and find your job orders, clients and make your sales. However, many franchises do offer support and training in sales processes. Some will even provide you with job orders. If you are sales-minded but lack industry contacts, a franchise might be right for you. If you know the industry and can successfully make sales, then you are ready to go alone.
If you would like to pursue a staffing agency franchise, check out the current SI Staffing Franchise opportunity and see how SI Staffing can help you own a successful staffing franchise while knowing you are helping others find meaningful work.