Tips for Starting a Temp Agency
Starting a temp agency requires a number of considerations such as significant access to job resources and your expectations of people served. Temp agencies provide a vast number of recruiting and staffing resources to companies and individuals alike.
For one, like any business, you will need a solid insurance plan for your temp agency. General liability and workers’ compensation should be the insurance plans you prioritize in the early phases.
A type of payroll administrator is also necessary.
A major tip is to not include the words “staffing,” “recruiting,” or “temp” in the name of your company. It’s a common mistake that only endangers your chances of being underwritten, as insurance companies may find a temp agency like that too risky to work with.
When starting to invest in your agency, it would be beneficial to start with a first investment that’s around $5,000-$7,000. This exact amount is based on what skillset you’re looking to fulfill. The greater the skillset, the less premium your company will have to pay. Remember to invest in accordance with your expectations.
To learn more about what is needed to launch a lucrative and successful temp agency, click on the video we have linked above.