Along with knowing exactly what it is you're getting into, you need to be ready to invest the necessary time and effort. Not to mention enlisting the support of those who can help ensure your recruitment start-up succeeds.

What follows is a brief summary of the most important things to consider when starting up a recruitment company:

Business Model

While traditional high-street agencies still exist, the vast majority of new start-ups are built solely online. For obvious reasons, the latter of the two poses less of an initial funding issue, due to the reduced overheads. Whichever way you decide to go, you will have the option of choosing from three very distinct business models - going it alone, hiring help or purchasing a franchise. All three options are worth considering, with your current position, financial status, long-term objectives and so on determining which represents the best choice for you.

Initial Funding

Many initial start-up costs are entirely inevitable. From building websites to marketing to branding to hiring help, funding must be sought for a variety of initial costs. It's important to remember that it may be some time before revenues begin flowing inward to such an extent as to cover outgoings.  Survival during these early days plays a key role in determining which start-ups succeed and which fail. Hence, the importance of considering all initial costs and potential funding options carefully ahead of time.

Choosing a Niche

One important rule to follow when establishing a new recruitment company is not attempting to cast your net too widely. The broader the audience you attempt to appeal to, the greater the number of competitors you will need to outperform in order to do so. Determine the most appropriate niche for your start-up, in accordance with demand and competition in your chosen market.  While still getting things off the ground, it is typically beneficial to choose one viable industry and stick to it.

Back Office Admin

From accountancy to payroll processing to timesheet management to marketing to everyday communications, back office duties are guaranteed to eat up most of your time. All of which is time that would be far better invested in finding and securing new business for your start-up. Regardless of the size or nature of your business, it is always worth considering the available back office solutions to help streamline and simplify key operations. There are various software packages and third-party services available to help you make the very best use of your time and your available budget.

Payroll Funding

It's also important to ensure that payroll management and funding in general don't stand in the way of the successful establishment of your business. You need to consider the fact that you are able to consistently and comprehensively meet all payroll obligations from the very moment the first-time sheets are submitted. Anything less and you could find yourself dealing with dissatisfied clients, which could have a knock-on effect on your reputation at the worst possible time.

The Key Takeaway...

The value of consulting with recruitment start-up specialists far outweighs the risks of attempting to go it alone. Even if it's on a temporary basis to get your business off to the strongest possible start, it pays to have both the expertise and financial support of those with real experience in the field.

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