Staffing Agency Business Plan Template
Business Plan Outline
Staffing Agency Business Plan Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
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We have helped over 100,000 entrepreneurs and business owners create business plans and many have used them to start or grow their staffing agencies.
Below are links to each section of your staffing agency business plan template:
Next Section: Executive Summary >
Staffing Agency Business Plan FAQs
What is a staffing agency business plan.
A staffing agency business plan is a plan to start and/or grow your staffing agency business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your staffing agency business plan using our Staffing Agency Business Plan Template here .
What Are the Main Types of Staffing Agency Companies?
There are many types of staffing agency companies. Some staffing agencies will focus on a particular industry, such as clerical jobs. Other staffing agencies focus on executive job placement, while others will offer a wide range of services across all industries. Some even offer human resource functions, such as payroll, benefits administration and risk management.
What Are the Main Sources of Revenue and Expenses for a Staffing Agency Business?
The primary source of revenue for staffing agencies are the fees it charges clients to place them in a job and the revenue it receives from businesses that hire them to find and recruit suitable staff for their business.
The key expenses for a staffing agency business are the costs to market the business, as well as payroll for the support staff. Other expenses will be the rent, utilities, and overhead costs for the physical office space.
How Do You Get Funding for Your Staffing Agency Business Plan?
Staffing agency businesses are most likely to receive funding from banks. Typically you will find a local bank and present your business plan to them. Angel investors and other types of capital-raising such as crowdfunding are other common funding sources.
What are the Steps To Start a Staffing Agency Business?
Starting a staffing agency business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Staffing Agency Business Plan - The first step in starting a business is to create a detailed staffing agency business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your staffing agency business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your staffing agency business is in compliance with local laws.
3. Register Your Staffing Agency Business - Once you have chosen a legal structure, the next step is to register your staffing agency business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your staffing agency business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Staffing Agency Equipment & Supplies - In order to start your staffing agency business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your staffing agency business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful staffing agency business:
- How to Start a Staffing Agency Business
- How to Open a Staffing Agency Business
© 2023 PlanBuildr.com
Staffing Agency Business Plan Template
Staffing agency business plan.
If you want to start a staffing agency, recruiting agency, nurse staffing agency, or temp agency or expand your current one, you need a business plan.
Over the past 20+ years, we have helped over 8,000 entrepreneurs and business owners create business plans to start and grow their staffing agency businesses, employment agencies and recruitment agencies.
How to Write a Staffing Agency Business Plan
Below are links to each section of your staffing agency business plan template:
Next Section: Executive Summary >
Staffing Agency Business Plan FAQs
What is the easiest way to complete my staffing agency business plan.
Growthink's Ultimate Staffing Agency Business Plan Template allows you to quickly and easily complete your Salon Business Plan.
Where Can I Download a Staffing Agency Business Plan PDF?
You can download our staffing agency business plan PDF template here . This is a business plan template you can use in PDF format.
What Is a Staffing Agency Business Plan?
A staffing agency business plan provides a snapshot of your staffing agency as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.
Why Do You Need a Staffing Agency Business Plan?
If you’re looking to start a staffing agency, or grow your existing staffing agency, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your staffing agency business in order to improve your chances of success. Your staffing agency business plan is a living document that should be updated annually as your company grows and changes.
What Are the Sources of Funding for Staffing Agencies?
With regards to funding, the main sources of funding for staffing agencies are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable. But they will want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.
Angel investors are also a common form of funding for staffing agencies. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a staffing agency. This is because most venture capitalists are looking for extremely fast growth and millions of dollars in return when they make an investment, and staffing agencies, while great businesses, don’t fit this criteria.
STAFFING AGENCY BUSINESS PLAN OUTLINE
- Staffing Agency Business Plan Home
- 1. Executive Summary
- 2. Company Overview
- 3. Industry Analysis
- 4. Customer Analysis
- 5. Competitive Analysis
- 6. Marketing Plan
- 7. Operations Plan
- 8. Management Team
- 9. Financial Plan
- 10. Appendix
- Staffing Agency Business Plan Summary
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Staffing Agency Business Plan Template [Updated 2023]
Staffing agency business plan template.
If you want to start a Staffing Agency, Recruitment Agency, Employment Agency or expand your current Staffing Agency, you need a business plan.
The following Staffing Agency business plan template gives you the key elements to include in a winning Staffing Agency business plan.
Below is an outline of each of the key sections of your Staffing Agency business plan:
I. Executive Summary
You can download our Business Plan Template (including a full, customizable financial model) to your computer here.
Business Overview
Located at the heart of [City], [Company Name] is a recruiting and staffing agency that helps local businesses to find talented staff across different fields like accounting, banking and finance, administration, marketing, and information technology. It specializes in talent pooling and acquisition and provides assistance with hiring new employees for temporary and long-term positions.
[Company Name] was founded by [Founder’s Name] in [Year] when he decided that he needed to take a break from just enforcing company policies and practices as an assistant Human Resource Manager for a known company in [Location]. He realized that there is a growing need for an agency that would help more job seekers find the companies that would maximize their potential and benefit from their expertise.
Putting the best interest of both the employers and job seekers, [Company Name] performs extensive background checks to make sure that they have a network of competent and highly qualified job seekers that matches the needs of companies in different industries.
Products Served
[Company Name] will be able to provide clients with the following services:
- General recruitment
- IT Recruitment
- Business and Finance recruitment
- Contract Staffing
- Manpower Outsourcing
- Staff Augmentation
- Executive Search and Selection (ESS)
Customer Focus
[Company Name] will primarily serve the residents who live within a 15-mile radius. The demographics of these customers are as follows:
- 78,827 residents
- 2,500 workers
- Average income of $65,000
- 41% married
- 49% in Mgt./Professional occupations
- Median age: 26 years
Management Team
The most valuable asset of [Company Name] is the expertise and experience of its founder, [Founder’s Name]. He has been working in the human resource management field since [year] and was one of [Other Company Name]’s top employees. He also has a degree in Human Resource Management and is SHRM-certified. Thus, he is highly qualified and credible to manage [Company Name].
The team also includes a his highly-skilled and professional assistant manager who will help manage the company’s operations. He will be trained in all the important company processes and operations by [Founder’s Name] so he will be able to take over in absence of [Founder’s Name].
Success Factors
[Company Name] is uniquely qualified to succeed due to the following reasons:
- [Company Name] will fill a specific market niche in the growing community we are entering. In addition, we have surveyed the local population and received extremely positive feedback saying that there is indeed a need for reliable staffing agencies in the area.
- Majority of our location’s residents and workers are job seekers who are either fresh graduates or professionals who are looking for a new work environment.
- The management team has a track record of success in the human resource and staffing industry.
- The staffing agency business has proven to be a successful business in the United States.
Financial Highlights
[Company Name] is seeking a total funding of $200,000 of debt capital to open its staffing agency. The capital will be used for funding capital expenditures and location build-out, salaries, marketing expenses and working capital.
Specifically, these funds will be used as follows:
- Location design/build: $100,000
- Working capital: $100,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even
II. Company Overview
Who is [company name].
[Company Name] is a recruiting and staffing agency located at the heart of [City] that helps local businesses to find talented staff across different fields like accounting, banking and finance, administration, marketing, and information technology. It specializes in talent pooling and acquisition and provides assistance with hiring new employees for temporary and long-term positions.
[Company Name]’s History
[Company Name] was founded by [Founder’s Name] in [Year] when he decided that he needed to take a break from just enforcing company policies and practices as an assistant Human Resource Manager for a known company in [Location]. He realized that there is a growing need for an agency that would help more job seekers find the companies that would maximize their potential and benefit from their expertise. With the connections that he built through his years of experience in human resource management, and his passion for promoting career development, he was able to start [Company Name]. It didn’t take long before the company was able to gain the trust of [x] companies and [x] job seekers.
Since incorporation, the Company has achieved the following milestones:
- Found office space and signed Letter of Intent to lease it
- Developed the company’s name, logo and website located at [website]
- Determined equipment and fixture requirements
- Began recruiting excellent job seekers from different fields.
[Company Name]’s Products/Services
Iii. industry analysis.
Over the past five years the Staffing Agency industry has recorded growth due to a growing US labor market and overall economic improvements. Unemployment rates had dropped to historical lows. As a result, industry revenue increased rapidly as the national unemployment rate declined 14.2%. The number of temporary employees increased throughout the current period, bolstering demand for industry services. Overall, industry revenue is projected to increase an annualized 1.6% over the next five years.
Corporate profit is anticipated to grow an annualized 10.4% over the next five years, driving businesses to expand operations. Corporations will look to preserve their profit and look to temporary employees. Workers looking to rejoin the labor force will likely continue to present an opportunity for industry operators, since they will remain open to temporary roles in hopes of securing a permanent position in the future. Overall, industry revenue is expected to increase an annualized 2.3% to $201.7 billion. Similarly, industry profit is expected to increase slightly to 5.6%.
IV. Customer Analysis
Demographic profile of target market.
[Company Name] will serve the residents of [company location] and the immediately surrounding areas in a 15-mile radius. The area is populated mostly by several startup companies and expanding businesses in need of highly-skilled labor force; as a result, they have the budget to spend for a staffing agency.
Customer Segmentation
The Company will primarily target the following customer segments:
- Job seekers: These are individuals with extensive and reliable work experience who are looking for either short-term or long-term employment.
- Offices: These are workplaces that are in need of administrative employees, accountants, IT personnel, maintenance personnel, and other skilled workers.
- Businesses: These are establishments in need of manpower services for their daily business operations.
V. Competitive Analysis
Direct & indirect competitors.
Rand Corporation Rand is an HR consulting and staffing business. Founded in 1960, the company has over 4,000 offices across 38 countries. They also placed more than 649,00 people in temporary or permanent employment, with about 318,500 workers placed into temporary positions last year. The company provides services through three key business divisions: staffing, professionals and in-house solutions. Itscreens temporary employees for the industrial and administrative sectors.
Express Staffing Express Staffing is a staffing company that provides work for some 566,000 employees each year. It operates on a franchise business model from a network of more than 800 employment agency offices across the US and Canada. It helps fill full-time, temporary, and part-time positions in a range of sectors that span Professional, Light Industrial, and Office Services. Professional employment includes accounting, engineering, IT, sales and marketing, HR, and legal sector positions, while Light Industrial covers assignments such as assembly, maintenance, and warehousing. Bob Funk and Bill Stoller founded the firm in 1983. Since its founding, Express Employment Professionals has put more than 7.7 million people to work. M
Woodly Personnel Services Established in 1988, Wood Personnel Services (WPS) is a staffing and employment agency serving the southern states. It works to tailor staffing solutions to its clients’ and candidates’ unique needs. WPS operates two divisions: Professional Staffing Services, IT Placement and Executive search.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Client-oriented service: [Company Name] will have full-time professional consultants always ready to keep in contact with its clients and answer their questions.
- Detail Oriented: The company attends to the smallest details of both the job seekers and the companies to make sure that their needs are met and delays and unnecessary stress are avoided.
- Efficient online service: With the use of its online tracking system, [Company Name] assures that it will deliver its services on a timely basis and keep its clients up-to-date of their application status. This also promotes transparency and trust.
- Management: [Founder’s Name] has been extremely successful working in human resource management and will be able to use his previous experience to assure clients of the care that [Company Name] will take to do the job right. His unique qualifications will serve customers in a much more sophisticated manner than [Company Name’s] competitors.
- Relationships: Having lived in the community for 10 years, [Founder’s Name] knows many of the local leaders, newspapers and other influences. Furthermore, he will be able to draw from his existing personal and professional relationships to develop an initial client base.
VI. Marketing Plan
The [company name] brand.
The [Company name] brand will focus on the Company’s unique value proposition:
- Convenient location
- Client-focused documentation, recruitment, and deployment services, that treat each client according to their needs.
- Well-trained staff that prioritizes customer satisfaction and excellent results
- Service built on long-term relationships
- Comfortable, customer-focused environment
Promotions Strategy
[Company Name] expects its target market to be individuals working and/or living within a 15-mile radius of its location, as well as businesses. [The Company’s] promotions strategy to reach these individuals includes:
Local Publications [Company name] will announce its opening several weeks in advance through publicity pieces in multiple local newspapers and publications. Regular advertisements will run to maintain exposure to relevant markets. Community newspapers, school publications, sports programs, and similar channels will be a major promotion effort.
Community Events/Organizations [Company name] will promote itself by distributing marketing materials and participating in local community events, such as school fairs, local festivals, homeowner associations, or sporting events.
Commuter Advertising We will drive attention to [Company name] by hiring workers to hold signs alongside [route or highway]. Advertising on heavily traveled commute routes are an opportunity to alert large numbers of working individuals with disposable income of our opening.
Internet [Company Name] will invest resources in two forms of geographically-focused internet promotion—organic search engine optimization and pay-per-click advertising. The Company will develop its website in such a manner as to direct as much traffic from search engines as possible. Additionally, it will use highly-focused, specific keywords to draw traffic to its website, where potential clients will find a content-rich site that presents [Company Name] as the trustworthy staffing agency that it is.
VII. Operations Plan
Functional roles.
The Company intends to employ [X] working staff and [A] recruitment consultants. [Company name] anticipates having [Z] customers on a monthly basis.
In order to execute on [Company Name]’s business model, the Company needs to perform several functions. [Company name] anticipates using the services of X employees, divided into the following roles.
Service Functions
- Finding clients in need of qualified staffing
- Recruiting and vetting individuals looking for employment
Administrative Functions
- General & administrative functions including marketing, bookkeeping, documentation, etc.
- Hiring and training staff
[Company Name]’s long term goal is to revolutionize the staffing agency industry and become the best in the [city] area. We seek to do this by ensuring customer satisfaction and developing a loyal and successful clientele.
VIII. Management Team
Management team members.
[Company Name]’s most valuable asset is the expertise and experience of its founder, [Founder’s Name]. He has been in the human resource management and staffing industry since [year] and was one of [Other Company Name]’s top employees. He also has a degree in Human Resource Management and is SHRM-certified. Thus, he is highly qualified and credible to manage [Company Name].
[Company name] will also employ an experienced assistant manager to manage the company’s operations. He will be trained in all the important company processes and operations by [Founder’s Name] so he will be able to take over in absence of [Founder’s Name].
Hiring Plan
In order to launch the business, we will hire the following employees:
- Recruitment consultants: 3 full-time employees to manage the day to day job application and consultations
- Administrative Assistant: Must be organized, with good phone skills, facility with numbers for bookkeeping, and good writing skills.
IX. Financial Plan
Revenue and cost drivers.
[Company Name]’s revenues will come primarily from the general recruitment and consultations.
The major costs of [Company Name] include:
- Lease on business location
Moreover, ongoing marketing expenditures are also notable cost mechanics for [Company Name].
Capital Requirements and Use of Funds
Key assumptions.
The following table reflects the key revenue and cost assumptions made in the financial model:
5 Year Annual Income Statement
5 Year Annual Balance Sheet
5 Year Annual Cash Flow Statement
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Recruitment Agency Business Plan
Are you thinking of starting a recruitment agency We have prepared a solid recruitment agency business plan sample that guides you on every stage of your business plan writing
If you are planning to start a new recruitment agency business, the first thing you will need is a business plan. Use our sample Austin Placements – Recruitment Agency Business Plan created using upmetrics business plan software to start writing your business plan in no time.
Before you start writing your business plan for your new recruitment agency, spend as much time as you can reading through some examples of services-related business plans .
Reading sample business plans will give you a good idea of what you’re aiming for and also it will show you the different sections that different entrepreneurs include and the language they use to write about themselves and their business plans.
We have created this sample Austin Placements – Recruitment Agency Business Plan for you to get a good idea about how perfect a recruitment agency business plan should look like and what details you will need to include in your stunning business plan.
Recruitment Agency Business Plan Outline
This is the standard recruitment agency business plan outline which will cover all the important sections that you should include in your business plan.
- 3 Year profit forecast
- Startup cost
- Funding Required
- Products and services
- Market Segmentation
- Competition and Buying Patterns
- Contact Sheet
- Client Sheet
- Sales Forecast
- Sales Yearly
- Detailed Sales Forecast
- Competitive Edge
- Target Market Segment Strategy
- Website Marketing Strategy
- Development Requirements
- Personnel Plan
- Professional Workers
- Supporting Research
- Important Assumptions
- Brake-even Analysis
- Profit Yearly
- Gross Margin Yearly
- Projected Cash Flow
- Projected Balance Sheet
- Business Ratios
After getting started with upmetrics , you can copy this sample business plan into your business plan and modify the required information and download your recruitment agency business plan pdf and doc file . It’s the fastest and easiest way to start writing your business plan.
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How to write a business plan for recruitment in 2023 (template included)
- Published on June 3, 2020
- Updated on November 29, 2022
Writing a business plan in recruitment has always played a crucial part in the interview process for a number of recruitment agencies around the world.
A comprehensive business plan can demonstrate a recruiter’s commitment, knowledge and commercial acumen. During economic uncertainties in 2023, these qualities are more important than ever.
Arriving at an interview armed with a comprehensive business plan before you’re even asked will no doubt set yourself apart from other recruiters.
During economic uncertainties, managers will need to present a business case to leadership for budget approval in order to make a hire. Your business plan will be an important element of this business case. An impressive business plan could be the difference between landing an offer today, or falling into a pipeline of other candidates.
In this article, we share a step-by-step guide outlining how to create a comprehensive business plan. We walk through the key components and include examples.
At the end of the article, you can download a free recruitment business plan template which is tailored towards the key components mentioned in this article.
A business plan should be packed full of relevant information but should be compressed and to the point. Avoid verbiage, stay specific and keep to 4 – 6 pages.
Introduction
Start with a title. Include your name and the company you’re writing the business plan for. A little personalisation will go a long way.
Underneath your title, outline the objective of your business plan and again personalise it towards the agency you’re interviewing with. While you have the hiring manager’s attention, this paragraph is an opportunity for you to demonstrate how comprehensive your business plan is. The aim is to capture the hiring manager’s interest so they continue to read each component:
“The objective of this business plan is to outline the value I can add to employer’s name .
In this business plan, I have highlighted my specialism, hiring activity in my market, my candidate and client strategies, my methodology, how I plan to recruit through economic uncertainties in 2023, my competition and my personal revenue projections over 12 months.”
You can use this paragraph as a way to introduce your business plan verbally if you’ve called up a hiring manager. You can also use this extract in a cold email.
Your specialisation
This is a crucial positioning statement for your value-add. It sets out precisely where your network and experience lies and what you intend to bring to the table in your new role.
Your specialisation can be described clearly by outlining what roles you will specialise in, what industries you will target, what level of seniority you will focus on and what geographies you will cover.
For ease of reading, you can use each component as a title and use bullet points to expand upon your answers.
Taking a Technology recruiter as an example:
What roles I will specialise in:
- Product Management permanent roles
- UX/UI Design permanent roles
What industries I will target:
- Series A – C funded technology startups (high investment, high growth and high volume of roles)
What level of seniority I will focus on:
- Mid to senior (120 – 180k salary range for Product Managers, 140 – 200k salary range for Designers)
What geographies I will cover:
- Based in Singapore, the local market will be my core market
- Secondary markets include Jakarta, Bangkok and Kuala Lumpur due to less competition from recruiters and high volume of roles
Hiring activity trends
The hiring activity trends section provides an opportunity for you to demonstrate and portray your knowledge of the market.
The 3 important components of this section are: hiring activity over the past 3 years, hiring activity for next year and how you predict hiring activity to shift beyond that.
Utilise your own knowledge of the market but back it up with research gained from reputable sources related to your market e.g. Tech in Asia, Tech Crunch, Channel News Asia, The Straits Times or The Financial Times.
You’ll want to cover how hiring activity has increased or decreased, what the drivers of growth are in your industry and what the threats and challenges are within your sector.
Candidate strategies
Moving on from market trends, this section indicates how you will acquire candidates for your desk. It offers an opportunity for you to demonstrate the experience you’ve learnt in candidate management from your previous firm, but also an opportunity for the employer to ensure that your approach aligns with theirs.
3 key components of this section include: how you will generate candidate leads, what challenges you expect to face and how you will overcome these challenges.
Taking a Front Office Banking & Financial Services recruiter as an example:
How do I plan to generate candidate leads:
- Direct headhunting using a LinkedIn Recruiter account, this costs approximately $X amount, the key benefits being access to a high volume of InMails and enhanced search capability. This has been the sourcing tool for 60% of my previous placements
Challenges I expect to face:
- In light of economic uncertainties in 2023, highly sought-after candidates may be risk-averse and may not see this as a good time to move jobs
How I will overcome these challenges:
- I will develop relationships with these candidates for the future but I will adjust my sourcing strategy accordingly by increasing volume of direct approaches
Client strategies
A similar section to candidate strategies but geared towards clients. Arguably more important than candidate strategies during a recession as the market could be job-short – even in the good times, strong business development capabilities in recruiters are harder to find.
This section includes 6 key components including how you plan to onboard new clients, how you plan to sustain relationships with clients for repeat business, what industries your clients are in, the challenges you expect to face and how you will overcome these challenges.
Take these bullet points as a basic example:
How I plan to onboard new clients:
- During a recession, I plan to cultivate relationships by helping and consulting clients on non-recruitment related issues, such as advising clients on the current state of the market
- I plan to generate leads by making 25 cold calls per day during the ramp-up period, to again offer support and advice where needed, and to leverage any open roles
- A soft approach of connecting with hiring managers, HR contact and C-Level candidates on LinkedIn, to establish working relationships and eventually convert into clients
How I plan to sustain relationships with current clients and win repeat roles:
- The most important way to sustain relationships is by offering a service that is superior to competitors. That is by being transparent, sticking to deadlines and delivering results
- Regularly catch up with clients on a monthly basis to see how they’re doing and see if you can generate new roles
- Keep yourself updated on company news and congratulate clients on milestones e.g. if they generate a Series C round of funding
What industries I will target clients in:
- Series A – B funded technology startups
- During a recession there is less of an appetite to use agencies due to an unprecedented volume of great candidates available in the market
- Offer free support to companies currently not using agencies, provide an impressive service and convert into paying client post-recovery
The 6th component is “examples of target clients” and this is where you can really demonstrate tangible market knowledge. Use company names, find the potential contact in each company and add your comments, such as the volume of roles you expect from that client. 5 examples should be enough to peak your hiring manager’s interest.
You can use a table to display this information with ease:
It goes without saying that you should never be tempted to use information that is proprietary to your previous employer. This information can be openly found with some basic LinkedIn research.
My methodology
Are you a recruiter that is focussed on crunching numbers? Are you a recruiter who is focussed on cultivating long-term relationships? In this section, you can include a few quick bullet points to explain how you approach recruitment. This information gives your hiring manager an indication about whether you hold similar values and whether you have similar working styles.
How you can adapt to recruiting during a possible economic downturn
This section is a new one in response to market conditions in 2023 but can demonstrate how you are prepared to deal with current and upcoming challenges.
You can use this section as the title and include bullet points to outline how you will adapt to these market conditions.
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My key competitors
Which recruiters and agencies offer the greatest competition? Demonstrating your knowledge in this area highlights that you are commercially aware outside of your core market.
Include about 5 different competitors who are directly competing in your patch. You can use the table below to display this information:
Personal revenue and target projections
In many business plans, financial projections are of utmost importance and can demonstrate your commercial acumen. If you’ve ever watched Dragon’s Den, you’ll know what happens when you don’t know your numbers!
Project your personal revenue for 4 quarters. You can start your calculations by predicting the average annual salary of a candidate in your patch. You can project your average percentage fee agreed with clients and from there you can calculate your average fee. Once you have this, you can predict the amount of placements you’ll be making per month.
Make sure your revenue projections are realistic and achievable. Avoid the temptation to predict vastly optimistic revenues, especially during a possible recession. You must allow time to ramp-up and there must be a logical relationship between your historical and predicted revenues.
The plan only includes project revenue. Your historical revenue should be on your CV.
Take the below as an example:
My predicted average annual salary of candidates:
My predicted average percentage fee agreed with the client:, my predicted average fee:, my predicted average placements per month, my projected revenue over 12 months.
Underneath, you can also include the KPIs you will set yourself to guide you in achieving these numbers. For example, you can set yourself a guideline for how many CVs you need to send, how many candidate meetings you need to arrange, how many client meetings you need to arrange and so on.
The template
We’ve constructed a free template built around the components mentioned above, so you can create your own for when you reach out to hiring managers.
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This step-by-step guide should give your hiring manager a clear idea of your plan. If executed successfully, you’ve already demonstrated your commitment, knowledge and commercial acumen before even attending an interview.
The way you’ve structured your plan will give your hiring manager a very clear indication of your methodology and whether you’d fit their structure. Keep in mind that if your methodology is focused on high volume recruitment, it’s not going to work well with an executive recruitment agency.
As a next step, learn this plan inside and out. Be prepared to pitch your plan to your hiring manager and answer detailed questions surrounding each component.
Leave your interviewer with no room for concern and secure that role! Lastly, if you enjoyed the article, please consider subscribing or following us on LinkedIn to have new articles for recruiters like this delivered directly to your inbox.
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All About People
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
All About People (AAP) began out of the desire to contribute to this community, just as communities have fed All About People’s proprietor over the years. Although originally from a larger market, the proprietor realizes the need in the southern Willamette Valley for a personnel agency that fills a void left by other temporary and permanent placement agencies. AAP matches specifically skilled workers with clients, saving businesses time and money, while providing for its employees with honesty and honor. This requires a high level of communication. It means asking open-ended questions and listening, not talking. This means knowing the local market so AAP can really serve each client and employee, not just “sell” them our goods. AAP is quality service.
The long-term vision includes a number of offices throughout the southern Willamette Valley. The proprietor sees the challenge in this vision, not in the growth itself, but in training and encouraging all AAP personnel to treat each client and employee with the same care and with the same level of communication.
Managing our Growth AAP is a sole proprietorship that will convert to an S Corporation. As a new corporate entity, AAP will be treated as a start-up in this business plan. During the past couple of years the proprietor provided all services. In Year 1, the company will add a part-time office staff person and an employment specialist. In response to this growth, AAP will have a procedures manual for in-house staff to assure that the information is clear. In addition, AAP will provide employees with regular training within the divisions to assure they understand the details of the work they are doing daily. Year 2 projections include a receptionist, another employment specialist, and a field representative. In Year 3, AAP will examine the feasibility of opening a branch office in the Salem, Bend, or Medford/Ashland areas.
The Market AAP is structured like other temporary and permanent placement agencies. However, it will serve clients with needs for select, specialized professionals rather than clerical or light industrial workers. Several businesses in Portland, Oregon provide a similar service to specific groups of people, but there are none for the Willamette Valley. AAP has five divisions, targeting the following areas of expertise:
- Editors/Writers
- Event Planners
- Graphic Artists
- Interpreters/Translators.
Services AAP will handle recruiting, including reference checks, skills evaluation, preliminary interviewing, and screening of all employees for its clients. AAP acts as an extension of the client’s human resource department, assuring that there is open communication between supervisor and employee, and assisting with any troubleshooting or problem solving that may be needed.
Financials The company’s start-up requirements are $55,464, of which $7,600 will be provided for by the owner’s personal investment. The rest will be obtained through loans.
We expect to be able to charge a 50% markup to our business clients. Thus, if an employee is being paid $10 per hour, we are charging the client $15 per hour. The company predicts that it will be able to produce sales of approximately $300,000 by Year 3. The company does not have any direct cost of sales; we track payments to placed individuals as regular payroll.
1.1 Objectives
AAP is structured like other temporary and permanent placement agencies. However, we serve clients with needs for select specialized professionals, rather than clerical or light industrial workers. Several businesses in Portland, Oregon provide a similar service to specific groups of people. AAP followed the model of one placement firm described below.
A contract engineering firm places temporary workers who are hardware and software engineers. Employees earn between $80- $100 per hour and approximately seven employees are placed per month. The firm recruits through its website, advertises in newspapers, magazines, and trade publications. Incentives offered to contingent workers include medical, dental, and disability insurance, 401(K), and a reference finder’s fee for placement referrals. They find their employees are 60 percent male, 40 percent female, and ages spread evenly.
AAP serves the business client by locating a professional worker, interviewing and screening that worker, setting up interviews if necessary, and administering all hiring paperwork. The company runs payroll and bills the client bi-monthly. AAP will also manage the professional, staying in close contact with the client and communicating with the worker regarding any personnel issues that may arise.
The professional worker is served with employment opportunities at no cost; pay rates that are within industry standards; and health insurance may be purchased, if a worker becomes eligible, at a group rate starting at $124/mo. AAP will pay $65/mo for any coverage chosen from the group package.
1.2 Mission
All About People’s mission is to contribute to the community by filling a need for specialized, professional, contingent workers. The company will provide workers with a safe and independent environment. It will also provide businesses with a high-caliber of employee available for project or permanent work. All About People listens to individual needs and customizes personnel solutions for both businesses and workers.
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Recruitment agency business plan template
Download this recruitment agency business plan template in PDF or Word format, or tailor it to your project directly in our business plan software.
Discover our recruitment agency business plan template
Our recruitment agency business plan template gives you the structure to write a professional plan.
Not accustomed to writing business plans? Our recruitment agency business template will turn a typically challenging process into a total breeze.
Modelled on a complete business plan of a recruitment agency in Normandy, our template features both the financial forecast and the written part that presents the project, its team, the local market and the business strategy implemented by the management.
Cast your eyes on this template to achieve a better understanding of what your bank and investors would like to see, so that you can create a business plan that meets their expectations.
7 day free trial. No credit card required. Recruitment agency business plan template available with paid plans only.
How to use this recruitment agency business plan template
Edit the recruitment agency business plan template online, or download it.
There are 3 ways to use this template:
- Edit it online: you can adapt this template to your business idea by changing the text or the financial forecast directly in our business planning software
- Download in PDF: if you're just after a little inspiration, you can download the recruitment agency business plan template in PDF to read over it
- Download in Word format: want to edit your plan on Word? Simply export the recruitment agency business plan template to Ms Word (.docx) format
Recruitment agency business plan template content
This template includes a complete recruitment agency business plan example, with a financial forecast and the following sections:
- Executive summary: the executive summary gives the reader a clear and concise overview of your business idea
- Company: this section lays out the structure of your business, including its location, management team and legal form
- Products and services: here, you'll give an overview of the services offered by your recruitment agency (express and classic recruitment services)
- Market analysis: the market analysis is where you’ll demonstrate that there is a strong demand for your recruitment agency through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
- Strategy: this section highlights your recruitment agency's game plan when it comes to pricing, marketing and mitigating risks along the way
- Operations: this step lays out your recruitment agency's operational organisation, including the recruitment plan
- Financial plan: the financial plan includes a table of sources & uses (initial funding plan), and complete financial statements (P&L, balance sheet and cash flow statements)
- Appendices: this part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.)
Executive summary for a recruitment agency business plan
The executive summary gives the reader a clear and concise overview of your business idea.
Our recruitment agency's executive summary is formed of the following subsections:
- Business overview: in this subsection, we outline who the recruitment agency founders are, what legal form they've chosen for the business, and the rationale behind the choice of their location
- Market overview: in this subsection, we summarize the conclusions of the market analysis performed by the recruitment agency's owners and explain what industries (hospitality) and business types (cafes, restaurants, hotels) they aim to target
- Financial highlights: in this subsection, we give an overview of the forecasted financial performance of the recruitment agency over the first 3 years of operation
- Our ask: in this subsection, we outline the amount of financing required to start the recruitment agency and how it's going to be funded (the founders are seeking a bank loan to start their recruitment agency)
Company overview included in our recruitment agency business plan sample
This section lays out the structure of your business, including its location, management team and legal form.
Our recruitment agency business plan template's company section is formed of the following subsections:
- Structure & Ownership: in this subsection, we outline who the recruitment agency's shareholders are and what legal form they've chosen for the business
- Location: in this subsection, we present the area surrounding the location chosen for the business and the layout and main features of the premises
- Management Team: in this subsection, we give an overview of the background of each of the recruitment agency's founders, explain how they met and why they decided to start a company together
Products and services offered by the recruitment agency
The products and services section is where you will present the different types of services offered by your recruitment agency.
In our recruitment agency business plan template products and services section, we cover:
- Express service: characterised by speed, this service aims to help hospitality businesses find skilled replacements last-minute (within 24 hours)
- Classic service: a stock-standard service that helps hospitality businesses find skilled workers on a permanent basis
Market analysis for the opening of the recruitment agency
The market analysis is where you’ll demonstrate that there is a strong demand for your products and services through a thorough assessment of the industry (customer profile, hot trends, regulation, competition, etc.)
Our recruitment agency business plan example's market analysis section is formed of the following subsections:
- Demographics and Segmentation: in this subsection, we explore the market in depth. We look at the supply and demand sides both at the national and local level, analyse the hot trends perceived by the founders, and the key statistics that will help the founders build their positioning
- Target market: in this subsection, our founders explain who they view as their ideal customers (our recruitment agency business plan template targets cafes, hotels and restaurants)
- Competition: in this subsection, we take a look at the direct (independent recruitment agencies nearby) and indirect (other ways of hiring staff) local competition to ensure we have a differentiated positioning and that the market is large enough to accommodate the arrival of a new recruitment agency
- Regulation: in this subsection, we give an overview of the main regulation applicable to our recruitment agency
Setting the strategy for our recruitment agency
This section highlights the company's game plan when it comes to pricing, marketing and mitigating risks along the way.
Our recruitment agency business plan template strategy section is formed of the following subsections:
- Pricing: in this subsection, we explain how we set the prices of our main categories of services (express and classic recruitment) and the rationale behind our choice
- Marketing plan: in this subsection, we explain what action we'll put in place to build awareness and loyalty among our recruitment agency customers
- Milestones: in this subsection, we give an overview of the main goals we set for ourselves for the next 3 years
- Risks and Mittigants: in this subsection, we perform an assessment of the medium and long-term risks that could jeopardize the financial viability of our recruitment agency and outline how we intend to mitigate them
Operations section of the recruitment agency business plan template
This part lays out the company's operational organisation, including the recruitment plan.
Our recruitment agency business plan operations section is formed of the following subsections:
- Personnel plan: in this subsection, we explain what our opening hours will be and explain the responsibilities of each of staff member in our recruitment agency
- Key assets and IP: in this subsection, we list the assets and intellectual property rights which are critical to our business operations and explain how we will secure and protect each of these
- Suppliers: in this subsection, we give an overview of the main suppliers we will use our what commercial terms have been negotiated with them
Financial plan included in our recruitment agency business plan template
This section presents the expected financial performance of the recruitment agency over the next 3 years.
Our recruitment agency business plan example's financial plan is formed of the following subsections:
- Start-up funding: in this subsection, we list the cost of each item required to launch the recruitment agency
- Important assumptions: in this subsection, we explain the methodology and the main assumptions used to build the recruitment agency's financial forecast
- Sales forecast: in this subsection, we detail the expected revenues and growth rate for our recruitment agency in the coming years
- Cost structure: in this subsection, we list all the expenses required for our recruitment agency to operate smoothly
- Projected Profit & Loss statement: in this subsection, we analyse our forecasted P&L and comment on the expected profitability of our recruitment agency over the next 3 years
- Projected cash flow statement: in this subsection, we analyse the expected cash generation of the recruitment agency
- Projected balance sheet: in this section we give an analysis of the liquidity and solvability implied from our balance sheet
Appendices of the recruitment agency business plan template
This part provides the opportunity to include multiple financial appendices generated by our software (debt maturity profile, monthly financial statements, financial analysis, etc.).
Our recruitment agency business plan template's appendices include:
- A maturity profile chart showing the principal repayments of their loans over the next 3 years
- A monthly cash flow forecast: showing how much cash is being generated or consumed each month over the first 3 years of operations
Recruitment agency business plan template sample
Executive summary, business overview.
Cavine Recruit will be a recruitment agency specialising in the hospitality sector.
Our primary aim is to help cafés, hotels and restaurants in and around Caen's city centre hire "last minute" temporary staff.
We will also help those hospitality businesses find qualified personnel who are willing to join them on a permanent contract.
Cavine Recruit will be a limited liability company, managed by Catherine V. and Vincent A. with a share capital of €5,000.
Our offices, located at 34 Quai de la Londe in Caen, are walking distance from the Vaugueux (an area where most of the restaurants in Caen are located). This is ideal for increasing our visibility.
Both managers have known each other for over a decade. Together they have 20 years' experience in hotel and restaurant recruitment. They decided to start their own recruitment agency together to combine their skills and passion.
Market Overview
National Market
The recruitment agency market in France
According to the 2016 Prism'Emploi report, there are 7,257 recruitment and temporary employment agencies in France. The market was valued at €17.7 billion (turnover) that year.
46% of recruitment agency clients are SMEs and recruitment agencies generated €147.7 million of turnover in 2016.
Market leaders in the interim and recruitment agency market include Adecco, Randstad, Manpower and Hays Recruitment. Despite their dominance, many independent and niche firms remain competitive in the market.
When it comes to sectors where a specific profile is desired, companies tend to favour headhunters or independent recruitment agencies specialising in that industry to find the perfect candidate.
Mandates entrusted to independent recruitment agencies are mainly fixed-term and permanent contracts.
How recruitment firms find staff:
- Professional directories
- Approaching profiles on social networks such as LinkedIn
- Advertising on their website
- Advertising on third-party sites such as Reed or Indeed
- Other internet-based methods
According to the 2017 report by the Ministry of Labour, 34% of companies use recruitment intermediaries to recruit employees. This process has a success rate of 15%.
It's not only companies that use recruitment agencies. They have become an ideal springboard for those seeking employment. APEC estimates that 128,159 young executives and graduates used recruitment agencies to find jobs in 2018.
Local Market
The 2018 Calvados Tourism Observatory report estimates that both the City of Caen and its surroundings are prevalent in the hotel sector - accounting for 49% of all hotels and 34% of overnight stays in the county of Calvados.
It's also estimated that 41% of tourist revenue in Normandy in 2016 came from hotels, cafés and restaurants.
According to the FAFIH, there were 9,300 businesses, 12,500 seasonal workers during the summer and 2,900 in winter in Normandy in 2018. 90% of hospitality companies were also micro-enterprises.
The sector mainly consists of:
- Traditional catering (49%)
- Hotels (22%)
- Catering services (15%)
- Others (14%)
A tool set up by Carif Oref Normandie, which deals with training and employment, identifies staff shortages in terms of supply versus demand. Caen lags behind in this aspect in both the hotel and catering sectors.
53% of the recruitment projects recorded in 2018 were assessed as difficult, and 55% were destined to be seasonal jobs.
Financial Highlights
We expect to be profitable in our first year of activity with sales of €95,775 and an EBITDA of €6,056 (with a 6.32% margin) for year 1.
We expect to be able to continue to grow our business to reach €105,375 in sales and €13,572 in EBITDA (with a 12.88% margin) by year 3.
Cash generation should be positive over the duration of the plan.
The business should be sufficiently capitalised to enable us to meet our loan repayments while retaining sufficient headroom to deal with unforeseen circumstances.
We estimate that we need a total of €30,000 to open our recruitment agency.
Our partner will contribute €20,000 (67% of the total amount).
We would like to obtain a bank loan of €10,000 to complete the financing.
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Recruitment agency business plan template faq.
A recruitment agency business plan is a written document that sets out the commercial, operational and financial objectives of the company over the next 3 to 5 years.
It consists of two main parts:
- A written part that presents, in detail, your recruitment agency business, the team, your strategy, and your medium-term objectives.
- A financial forecast that highlights the expected profitability of the recruitment agency and the initial funding requirements.
The lack of business planning is one of the main reasons why more than 50% of startups fail within 5 years. If you're starting a recruitment agency, writing a business plan is a must-have in order to reduce the risk of failure of your project.
Business plans are also required by most lenders and investors in order to secure financing, therefore a business plan is also highly recommended if you're seeking a loan or equity investment for your recruitment agency.
Writing a recruitment agency business plan without The Business Plan Shop can be both error-prone and time-consuming - whether you're new to entrepreneurship or experienced:
- You'll need to research the structure of a business plan, what to include in each section, and what key elements investors and lenders expect to see
- You may encounter writer's block (especially if it's the first time you're writing a business plan for your recruitment agency)
- You'll need to create a financial forecast on a spreadsheet which requires a solid understanding of accounting and financial modelling in order to be done without error
- You'll need to spend hours formatting financial data on Excel or Sheets before it's ready to integrate into your business plan
- Any updates to your recruitment agency business plan or financial forecast will need to be done manually
Luckily for you, The Business Plan Shop's online platform and recruitment agency business plan template guide you through every stage of writing a business plan, so that you can spend more time managing and growing your business instead.
Our editor follows a best-in-class structure for professional business plans. Each section and subsection includes examples and instructions to help you, while our business plan templates provide further inspiration if you're stuck.
Our financial forecasting software helps you create a forecast and integrate it into your business plan with ease. Anytime you update your data, your business plan automatically updates.
And with our forecasting software all the calculations are done for you, without errors.
The budget to start and run a recruitment agency will depend on the exact concept and location.
An online recruitment agency that does not have physical offices would probably have much lower startup costs than one that isn't fully remote. This is because staffing costs, rent and other overheads would be minimal or non-existant. Hiring a specialist website designer would also increase startup costs considerably.
As an example, in our recruitment agency business plan template the total initial funding requirement amounted to €30,000, with the founders contributing €20,000.
In order to assess the exact budget for your recruitment agency idea, you need to do a financial forecast using a financial projection tool such as the one we offer .
The package we offer at The Business Plan Shop goes way beyond a simple blank template you need to fill. With our platform you get:
- Access to one of the best business plan software on the market
- Access to our recruitment agency business plan template which contains a complete example of a written business plan and financial forecast to start a recruitment agency
- Access to our entire business plan templates library - giving you dozens of examples to take inspiration from
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A recruitment business plan is one of the necessities for a company. It does not just help you to map and strategize, but also helps the investors conjecture whether the company is worth putting money on or not. A clear and focused recruitment business plan makes things run smoothly and efficiently. A recruitment business plan includes several components like the marketing plan , the budget plan , and it also makes the company hire the top people among the lot.
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Executive summary, company overview and products and services, market analysis and strategy, budget and financial plan, step 1: company overview, step 2: services to be offered and market analysis, step 3: execution, step 4: management and personnel, step 5: financial plan, more in plan templates.
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It can be challenging for fresh graduates and job seekers alike to look for suitable jobs that fit their specializations. Most of the time, constant rejections from the jobs they are applying for takes a huge toll from their morale and would generally cause them to lose motivation to continue looking for jobs that fit their skillset. Recruitment businesses and agencies help jobseekers to eliminate these worries. These establishments act as the middle men between employers and job seekers. They work on behalf of employers who want to find suitable candidates to fill their vacancies. Recruitment agencies rely on an already established relationship with several employers from other businesses and companies. But what if they don’t have that connection yet? What tool can the business use to make sure that the venture will be successful? It’s already quite obvious because you’re already here reading this article. With a recruitment business plan.
Recruitment Business Plan
5+ recruitment business plan samples, 1. recruitment business plan sample, 2. recruitment small business plan, 3. printable recruitment business plan, 4. formal recruitment business plan, 5. recruitment agency business plan, 6. strategic recruitment business plan, what is a recruitment business plan, elements of a recruitment business plan, are recruiting companies worth it, what is the difference between hr and recruiter, what are the five elements of a business plan.
Businesses are generally difficult entities to manage, even much more when your business deals human resources. It’s quite a chore to keep track of everything else and to make sure that every component of your business operations is covered. This is why creating a proper layout for a comprehensive plan is very important for businesses of all shapes and sizes, startup businesses or not. A layout helps keep everybody affiliated with the business, especially managers and supervisors, to stay on track for everything else that may be encountered during the overall duration of their business. A good and comprehensive plan just does a really good job of bringing the concept of your business really well and makes every business operation smooth.
Operating without a business plan is usually not a good idea. In fact, those that do operate without a business plan, typically doesn’t last long. Sticking to a well written business plan comes with a slew of benefits as well. Like being able to come up and operate new ideas without having to invest too much time or resources because you’ve already allotted the specifics in your business plan. To get properly acquainted with the document, see these recruitment business plan samples that we have listed down below. After getting familiar with what a business plan is and how it works, you can then uses these samples as a guide or even as a template for when you want to establish your own recruitment business plan.
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A business plan is a document that should describe how a business would define its objectives and enumerate the steps that the management would take in order to achieve its goals. A business plan lays out a roadmap for the whole company to follow that is derived from the perspectives of different standpoints of different departments. Marketing, financial, and operational. Business plans are essential documents that is usually used to attract prospective investments even before the company has established an impressive reputation.
Although the document is more useful for new businesses and companies, every company should be able to establish a well written business plan. This will enable them to have something to review and periodically update to see if the goals that they have established have been met and if the company is just doing good overall. A good business plan should be able to outline all the projected and estimated costs of a project or venture and the pitfalls of each decision the management of the company makes. Even in between competitors of the same industry, it is very rare for two different business plans to be identical. This is because despite working with the same circumstances, most businesses tend to have different ways of dealing with their own issues.
The length and scope of a business plan greatly varies depending on the nature and the coverage of the plan the business chooses to cover. But usually all of the information in a business plan should fit into a 15 to 20 page document. And although no two business plans are alike, they do work with almost all the same elements. These elements are discussed on more detail right below.
- Executive summary The first section of a business plan should be able to outline the company and all the information pertaining to its mission-vision values, company leadership, employees, operations, and location. Essentially, it should talk about what the company is, the nature of the business, and other basic but necessary information.
- Products and services The company should then outline the products or services that they may offer. This section should include pricing, product lifespan, and the benefits a customer may gain after availing these services. Other factors that you can include is manufacturing and production processes, patents, and proprietary technology.
- Market analysis The company needs to have a crystal clear idea of its target customers and their respective demographics. It will outline who or what the competition is and will eventually give you a better idea of how to stay on top of the market. It should also outline the expected consumer demand for the recruitment services and how easy or difficult it is to take advantage of that demand.
- Marketing strategy The next section should describe how the company will attract the customer base and how it intends to keep it. It should talk about what steps the management will take to reach the clients by being able to outline a clear distribution channel, including advertising campaign, marketing campaigns, and what mediums should these campaigns exist in.
- Financial planning The company should then include its financial plans in the document to attract the prospective readers of the business plan. Financial statements, balance sheets, and other financial information that may be suitable to be included.
- Budget Every company needs to have a well established budget in place. Including cost, staffing, manufacturing, development, marketing, and the rest of the expenses in your business.
For an entry level jobseeker, fresh graduates, applying to a recruitment company can have some benefits into it. But one has to remember that most companies won’t pay recruiting agencies to fill entry level jobs because more often than not, they can find enough employees on their own.
Recruiters take care of the screening of the potential candidate, while the HR is in charge of allocating the recruited resources to a role.
- Situation analysis
- Product or service positioning
- Setting objectives
One more thing to remember when writing a recruitment business plan, or any business plans in general, is that it’s not supposed to be a static document. It should be ‘live’. Meaning that it should be susceptible to change overtime. Think of it as a living entity, changing and evolving together with your company.
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Recruitment Agency Business Plan
Striking out and setting up your own recruitment agency is an exciting prospect, and there’s never been a better time to do it. With over 31,000 agencies in the UK, the recruitment industry is booming. Despite the profound impact of COVID-19 on the labour market, recruitment is projected to bounce back massively in 2021, so now is the perfect time to seize the opportunity and open your own agency.
Pre-pandemic, the recruitment industry generated over £42.3 billion in the UK alone, and recruitment agencies and firms are predicted to grow substantially in the next 3-5 years.
It’s clear that there is huge revenue potential in the recruitment industry. However, to stand out from the crowd, you’ll need a great recruitment agency business plan. This will give you the strategy and understanding of the industry you need to succeed.
So, where should you start? Our guide will take you through each individual step in making your own business plan. We’ll take you through marketing strategy, pricing structure and management, all of which are crucial to the success of your recruitment agency. As a new business owner, there will be a lot to take in, but with our recruitment agency business plan, you’ll have the ultimate guide to take you forward.
Is opening a recruitment agency for you?
- How much does it cost to open a recruitment agency in the UK?
What's included in our recruitment agency business plan?
- Your free sample recruitment agency business plan template
Summary and recap
As we’ve already mentioned, there is great potential in the UK for recruiters, and the turnover could be really significant. However, with the popularity of the industry comes a lot of high level competition.
Before you do anything else, you should be clear on who your competitors are, who your clients will be and how you will reach them, as well as fees you might have to pay whilst setting up.
You should start with a business plan. You can use it to gather and collate all of your resources, ideas and research.
You should consider things like:
- How many large recruitment agencies operate in the area (Adecco, Impellam, Reed etc.?)
- How many local recruitment agencies operate in the area?
- Is there likely to be any existing brand loyalty in the area?
How much does it cost to start a recruitment agency in the UK?
The average start-up costs to set up a recruitment agency in the UK vary considerably. More expensive start-ups will cover the costs of leasing premises, employing staff, buying equipment and any insurance you might need.
Key costs of starting your recruitment agency include:
- £12 to register your company, and £30 a month for details such as creating a website, designing a unique brand, setting up a LinkedIn company page and advertising jobs.
- You could also pay for added extras such as LinkedIn Premium and a CRM (Customer Relationship Management), a system which manages interactions with customers through data analysis, to win you as much business as possible.
However, there are ways to set up a recruitment agency without having to pay out thousands at first. By starting out as the sole employee, and even working from home, you can reduce costs to a bare minimum. All you really need is your home PC, mobile phone, some basic web tools and an internet connection.
With this in mind, a recruitment agency business plan is the best way to prepare yourself and plan for any financial obligations from the very start. We can also help you to figure out how to raise the capital you need for your business, based on your current financial situation.
We’ll take you through every step you’ll need to take to start your recruitment agency. It’s important to remember that if you plan to secure funds from a bank, it’s essential your business plan is as rigorous as it can be.
Included within our recruitment agency business plan, we offer:
- A fully completed recruitment agency business plan
- Break-even analysis (12-month analysis)
- Complete business plan guide
- Business plan template (.doc and .PDF)
- Financial planning wizard
Along with that, we’ll offer you a further 25 (at least) ways to market your recruitment agency for free. All of this is at your fingertips.
Download now for only £29.95
In this guide, we’re going to take you through an outline for a recruitment agency business plan, detailing what you should include within each section, and things you should consider when pitching your business to investors.
However, please remember this is only a guide. When writing your business plan for your own recruitment agency, make sure to take your time and work through everything in scrupulous detail.
When it comes to a business plan, the more thorough the better. You can never over-plan when it comes to a business start-up.
Step 1: Executive summary
Imagine you are pitching your business to an investor, what would you say? Remember that banks and investors will have seen thousands of previous pitches, so you really need to stand out to grab their attention. Putting serious thought and effort into your executive summary will be well worth it.
Make sure to think about these three things:
- Keep your language clear, concise and easy to read. Make it short and sweet.
- What makes you stand out from other recruitment agencies?
- Why should they be confident they will get their money back?
Remember, this is your opportunity to convince investors of your business’ credentials. Keep it positive, clear and easy to understand. Don’t get drawn into detailed descriptions or explanations, and avoid technical terms and jargon. Go out and grab their attention.
Step 2: Company overview
The company overview is your chance to properly introduce yourself and your business. You can give your potential investors a more detailed insight into how you plan to make sure your recruitment agency is a success.
Always remember, your focus should be on why investors should choose to put money into your recruitment agency, and why they should believe they’ll make a return on their investment.
You can consider including the following ideas in your company overview:
- What previous experience do you have managing a business
- What made you decide to start a recruitment agency?
- How will you stand out from your competition?
- Exactly who are your target clients? Do you have an ideal customer?
- What is your current financial status?
You need to show that you have a good understanding of the recruitment industry. Let them know the extent of your knowledge of the current market, how you expect it to change, and how your company is suited to thrive in the future.
You should think like a business person and don’t give your investors any reason to doubt your command of the subject.
Some other things to consider include:
- How you plan to expand your recruitment agency in the future.
- Your local market and competition.
- How is your application different to the others your investors have seen?
Basically, the goal of your company overview is to deliver a complete outline of your recruitment agency to your potential investors. Make sure to include facts and figures, and show off all your skills and expertise.
Feel overwhelmed? Not sure where to start? We’ve done all of the hard work for you.
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Step 3: Management and key personnel
A business is only as good as the people behind it. To really make your recruitment agency a success, you’ll need the support of a great team. In the management and key personal section of your plan you should detail your management, staff, and plans for further growth.
Remember to include:
- Staff members and their roles at the agency
- The previous experience of your staff
- Your staff salaries
- Do you plan to bring new people into the business? If so, when? How many? And what kind of salaries will they be paid?
This section really doesn’t need to be too long or complicated. All investors want to know is that you have a solid management structure and that you’ve made some plans for expansion in the future where necessary. As long as you’ve shown this, you’ll be just fine.
Step 4: External analysis (market research)
It’s crucial to have a strong understanding of your market before launching your start-up. It will help you recognise opportunities for your company to benefit from, and identify threats before they can damage your business.
Make sure you know the competition. What will make you stand out from them?
In this section you’ll also need to look into your target market, and how you’ll attract them over the competition. You should try to make this as detailed as possible, so that investors can see the focus of your agency. Being too vague might lead potential backers to believe you haven’t put much thought into it.
Who’s going to use your recruitment agency? (your target market)
Are you going to focus on recruiting in one particular industry? Or perhaps you’re going to specialise in junior or graduate roles? You need to know who your clients will be so you can tailor your marketing and branding to suit them.
Some things that you should think about include:
- How will you get the attention of clients?
- How much will you charge your clients?
- What will make them choose you over other competitors?
- How can you gain their loyalty?
How many recruitment agencies operate in your area?
In order to attract business you’ll have to stand out from other recruitment agencies that operate in the same region. How do you plan to separate yourself from your competition? Investors might be concerned about market saturation, and you need to prove to them that your agency has more to offer than any other around you.
Some things you can think about:
- How much do you know about your competitors?
- How many large recruitment agencies operate in your area?
- What are the average costs of employing a recruitment agency?
- Do they specialise in any particular industry? How does this compare with your own business?
Put yourself in the shoes of your ideal customer. What is going to make them choose you over another agency?
Step 5: your business objectives
Your business is going to need to have objectives, both for the short term and the long term. These objectives should be an outline to potential investors of what you are expecting to achieve over a time-frame.
Think about where you want your company to be after a month, then six months, a year and even five years. Don’t go crazy though. Ambition is good, but you shouldn’t be suggesting your business is going to become a giant of the industry after the first couple of years, as you will just come across as naive.
You should try to use the S.M.A.R.T criteria to keep track of your objectives.
Your S.M.A.R.T Criteria are:
If you still need some help coming up with objectives, you can consider some of the following:
- How big is the market you’re targeting?
- How do you plan to reach that market?
- How many clients do you expect to have after the first two months?
- How much revenue do you expect after the first six months?
Along with each objective you should provide a plan, as to how you expect them to be achieved.
Step 6: Services, equipment and amenities
By giving a detailed list of all the equipment you need to start your recruitment agency, investors will be able to see what their money is paying for.
This will depend very much on the scale of your planned agency. It would be possible to start by working from home with just your home PC and personal mobile phone. But if you’re thinking bigger, some items and services you should think about would include:
- Office space, along with desks and chairs
- Work Mobiles and mobile contracts
Be realistic in this section. You don’t need twenty PCs if you’re only employing a handful of staff. There’s no point in overspending.
Step 7: Financial forecasting and financial projections
This is the section where we crunch the numbers. Financial forecasting is probably the most important part of your business plan, as you can prove to investors that they will get some return on their investment.
This might be the trickiest and most time consuming part of the whole plan, but it is essential to do it properly.
You’re going to have to show your potential backers how you’ll recuperate the money they’ve invested. How much can you make per client? How many clients will you have?
The fundamentals you’ll need to provide:
- Sales forecast
- Expense budget
- Cash-flow statement
There are a whole lot of things you’ll need to budget for. Some of those might include:
- Purchase estimations
- Hiring costs
If possible, don’t restrict yourself to just one avenue of revenue. Diversifying your income sources will make investors feel much more comfortable with their investment.
We’ve taken all of the hard work out of planning the finances for your recruitment agency. Download your recruitment agency business plan template instantly below.
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Step 8: Funding
Do you already have existing financial support? Your investors will need to know how much start-up capital you have, and where it’s coming from. You need to let them know whether you’re using money from your own pocket, or whether you have investments from some other backer.
You might have received funding in the form of:
- Personal loans
- Partners or sponsors
- Family and/or friends
Be completely clear about where your money is coming from. Don’t hide anything from your investors.
You also need to be explicit about how much money you need, both now and in the future. You should also detail to investors how you’ll be spending it, whether it’s for equipment, renting premises or paying staff.
At the same time, don’t ask for more than you need, as it’s only likely to put investors off
Your free sample recruitment agency plan
If this is all still seeming a bit overwhelming, you might like to take a look at a small template we provide for a recruitment agency business plan. This can get you started and help you to come up with some of your own ideas.
Included in this template, you’ll get:
- An example of your executive summary
- Products/services on offer
- Staff and management structure
Download .doc here
Launching your own business is a scary prospect. The recruitment industry is already a busy market, but there’s plenty of demand for it and forecasts anticipate its boom to continue. There are over 31,000 recruitment agencies in the UK, with a combined value of over £42.3 billion.
By creating a detailed and clear business plan, you’re giving yourself the best chance of success. You’ll be able to start out knowing you’ve considered every aspect of the business. Investors love an in-depth business plan, so remember: the more detail the better. With our experience, you can kick-start your agency with confidence.
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Full recruitment agency business plan
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