Advice please

As many of you know, I'm money hungry, lol. I'm always looking for a way to make more of it. These latest thing to peak my interest is the thought of starting a staffing agency franchise. Does anyone have any experience in this field? Can anyone offer any words of wisdom or advice?

 

Like a temp agency? A serviced office?

 

Not a temp agency. A recruiting agency for healthcare. I'd still work my regular job...being that I have my own office, I think I could do both

 

What kinds of people are you planning to recruit?

Doctors? Nurses? CNA's? Medical Billers?

The way you would do this would be different for each. I know someone who had a healthcare recruiting company and she specialized in Doctors and Nurses with a Masters Degree and above.

Her typical fee was around 20% of the candidates annual salary, so there's some huge earning potential for recruiters as these people earn good money. My friend got out of the business. She told me the competition for these people from other recruiters is fierce and the competition from medical facilities is pretty fierce as well. In addition, she had her father and her sister who are both doctors advising her on how to run the business and attract clients.

Make sure you've got a good understanding of how medical facilities operate and have someone you can call to "translate" the language of medicine for you - especially as it relates to working hours/conditions and how these people are compensated both financially and with perks that are commonly offered to them. Good luck!!!

 

I've worked in healthcare IT for the past several years, as a Clinical Applications Analyst, so I'm pretty well-versed in all things healthcare. I actually train doctors, clinicians, and ancillary/support staff on EMR/EPM systems. Hopefully my next step will be in compliance on the director or c-level management scale. But I wanna make $$$ coming and going. I can get in good with HR, and get some contracts (hopefully retained searches). But how did you friend get started? Did she just start her own, or did she buy into a franchise? I was looking at ATC Healthcare. Approximately $50k start up fee.

 

It's good that you have the contacts.

No she did not buy into a franchise. She set up a stand-alone office. She told me she was making hundreds of marketing calls per day trying to find people. Franchising definitely has its advantages, but can be cost prohibitive for a lot of people. If you have the money, I would think franchising might be the way to go as you'd instantly have some market recognition.

Through her father and sisters connections, my homegirl got some connections in the hospitals and some of the doctors offices in the her area. As for finding candidates, she ran newspaper ads and went to career fairs where these people would be. She also did a lot of networking all over the country.

I was with a client of mine yesterday whose husband is a doctor and they are moving to ATL in a few months. She was telling me that the recruiter that is working with her husband to help him find a job here is someone he was connected with through another doctor he plays golf with. Right now, they live in the middle of nowhere in Indiana. So the networking aspect is huge.

 

If I can land an adjunct professorship at a local school teaching HIT, I'd probably get good candidates from the nursing program. Besides that I'd run ads on careerbuilder, aapc, monster, etc. Whichever direction I go, I'll probably do the virtual office thing, so I can recruit while working at my regular job. Like Onebox or something. Thanks a lot for you input, it's greatly appreciated.

 

My biggest advise to you is DO YOUR HOMEWORK before you plunk down any money on anything. I would start first by recruiting from home virtually. I have a friend of mine who makes a FORTUNE working from home as a physician/nurse recruiter. She never turned it into a franchise. Find your niche. I work from home as a recruiter too. (not in healthcare). It's good that you have a lot of contacts. But feel it out first before going full force. Good luck!

 

I don't wanna work from home, I wanna work from work, lmao. If that makes sense.

 

Sounds like an excellent idea however you better make sure you get some well qualified and very dependable people,I think it will work.Good luck

 

Thanks for the positive vibes....

 

go thru a business incubator first