How Much Money Do You Need To Start a Staffing and/or Recruiting Business?
One of the most common questions we get from people everyday who are considering getting into our profession is “how much money do I need to start my staffing or recruiting business?”
The answer to this question varies greatly depending on several things:
• Your business model
• The segment of the Staffing & Recruiting Profession you intend to pursue
• The hiring duration of the niche you select
• Where you house your business (home or office)
• Manpower (sole proprietor or employees)
• If you have arranged for a back office company to fund payroll
• The time you can dedicate to your new business
• If you plan to keep your full-time job
Some of the costs you will incur:
• Cost of incorporating (to protect yourself and your assets)
• State required licensing (applicable in some states)
• Errors & Omission Insurance (to protect you)
• Equipment:
• Designated land line
• Cell Phone
• Computer
• ATS System
• Business Cards, Letterhead, Forms, Envelopes, etc.
• Training
• Company Website
Once you open your business, it will take you an average of 120 days before you begin to generate revenue into your business. You must have a reserve of cash in order to pay your bills so you can focus on your new business.
It is not wise to set up your business without steps that will protect you and your current assets. If you set up your business properly, you have greatly enhanced your chances of enjoying the benefits of a profitable business in a relatively short time!
It is not uncommon for recruiters to generate a six figure income in their first year in business. In fact, if you invest in the Start Up Tutor, you will learn how to setup your company properly, get all of your forms, training, and even your website and business cards done for you! If you’re considering starting your own recruiting business, opt in for your free whitepapers on how to get started and attend our free webinar entitled “How to Start a Successful Staffing and/or Recruiting Business in Today’s Economy” by simply filling out the form in the upper right hand corner of this page!