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The purpose of this business plan is to raise $100,000 for the development of an employment agency
while showcasing the expected financials and operations over the next three years. The Employment
Agency, Inc. (the Company) is a New York based corporation that will provide job placement for both
individuals and businesses seeking new hires in its targeted market. The Company was founded in 2009
by John Doe.
The Employment Agency is a recruitment firm that seeks to help people (of all business disciplines and
career levels) find jobs/careers. The Company will place these people among a number of different sized
businesses within the target market. The business is in a good position to capitalize on the fact that many
major corporations and medium sized businesses are now outsourcing their sales recruitment and human
resources to third parties. The third section of the business plan will further describe the services offered
by the Employment Agency.
Mr. Doe is seeking to raise $100,000 from as a bank loan. The interest rate and loan agreement are to be
further discussed during negotiation. This business plan assumes that the business will receive a 10 year
loan with a 9% fixed interest rate.
The Employment Agency seeks to provide job placement services in a professional and cost efficient
manner to small, medium, and large businesses throughout the target market while concurrently finding
jobs/careers that properly suit applicants.
The Company was founded by John Doe. Mr. Doe has more than 10 years of experience in the human
resources industry. Through his expertise, he will be able to bring the operations of the business to
profitability within its first year of operations.
The Founder expects that the business will aggressively expand during the first three years of operation.
Mr. Doe intends to implement marketing campaigns that will effectively target individuals and businesses
that are currently hiring within the target market.
Employment Agency, Inc. The Company is registered as a corporation in the State of New York.
At this time, the Employment Agency requires $100,000 of debt funds. Below is a breakdown of how
these funds will be used:
2.3 Investor Equity
Mr. Doe is not seeking an investment from a third party at this time.
If the business is very successful, Mr. Doe may seek to sell the business to a third party for a significant
earnings multiple. Most likely, the Company will hire a qualified business broker to sell the business on
behalf of the Employment Agency. Based on historical numbers, the business could fetch a sales
premium of up to 4 times earnings.
The purpose of the business is to provide people of all experience and educational levels with the ability
to quickly find suitable jobs (both permanent and temporary) from employers within the target market.
Within the target market there are a number of businesses that operate among a number of industries
that have a continued demand for new hires. The Company will accomplish its permanent and temporary
candidate placement by contracting small and medium sized businesses to act as their outsourced staff
recruitment and temporary employment management department. The business will also provide
temporary employment services, which will provide the Company with a recurring stream of income from
job candidates that are placed in temporarily needed positions. The business will collect payments from
companies that hire Employment Agency candidates. The Employment Agency will then pay the
temporary employee directly rather than having the business client directly pay the staff member. This is
an extremely important revenue stream for the business as it will generate recurring streams of high
margin revenue on a monthly basis. Typically, these positions will pay by the hour (with an average wage
of $15). The Company expects to bill the business client $18 to $22. Management expects that 60% of
the Companys revenue will come from this revenue stream while 35% will come from the direct
placement of candidates in permanent positions.
The Company will also provide advisory services that will include resume writing and interview coaching.
This aspect of the business will provide an ongoing stream of predictable revenue which will be billed on
an hourly basis of $50 per hour. The Employment Agency will also provide generalized training services
which may include software familiarity (Microsoft products, QuickBooks, etc).
This section of the analysis will detail the economic climate, the employment agency industry, the
customer profile, and the competition that the business will face as it progresses through its business
operations. Currently, the economic market condition in the United States is in recession. This slowdown
in the economy has also greatly impacted real estate sales, which has halted to historical lows. Many
economists expect that this recession will continue until mid-2009, at which point the economy will begin
a prolonged recovery period. This may impact top line income as Companys scale back their hiring until
better economic conditions development.
In the United States there are 13,000 companies that specialize in the placement of job candidates and
providing temporary labor. Each year, these businesses generate more than $4.7 billion dollars per year,
and employ more than 113,000 people. These businesses provide over $2.6 billion dollars of payrolls.
The growth trend among these businesses has been extraordinary over the last five years as many small
and medium sized businesses have discovered that it is far less expensive to maintain an outsourced HR
and recruiting/hiring department rather than to keep these operations in house. This is primarily due to the
fact that these companies can quickly screen a potential job pool for the best and most qualified
applicants available. The annualized growth rate over the last five years for firms entering this market has
been 2.4% per year. However, over the same time period, the revenues collectively generated by these
businesses have exceeded 13% per year
Among the Employment Agencys business clients, Management expects that clients will be medium to
large sized businesses that have broad job recruitment/temporary staffing needs. If the Company is
successful in placing a candidate for the position, the Company will receive fees of 25% of the candidates
first year salary made payable by the business client (not the candidate).
The Employment Agency intends to maintain an extensive marketing campaign that will ensure maximum
visibility for the business in its targeted market. Below is an overview of the marketing strategies and
objectives of the business.
Develop an online presence by developing a website and placing the Companys name and
contact information with online directories.
Implement a local campaign with the Companys targeted market via the use of flyers, local
newspaper advertisements, and word of mouth advertising.
Establish relationships with small, medium, and large scale businesses within the target market.
Mr. Doe intends on using a number of marketing strategies that will allow the Employment Agency to
easily target job seekers and companies seeking to hire new employees within the target market. These
strategies include traditional print advertisements and ads placed on search engines on the Internet. The
Employment Agency will also use an internet based strategy. This is very important as many people
seeking local services, such as temporary and full time employment agencies, now the Internet to
conduct their preliminary searches. Mr. Doe will register the Employment Agency with online portals so
that potential job candidates and companies seeking to hire employees can easily reach the business.
The Company will also develop its own online website showcasing available positions and contact
information for the Company. The business will also regularly attend local job fairs so that it can generate
a substantial number of potential candidates for positions that are sought by the Employment Agencys
business clients. Not only will this substantially increase the business visibility within the target market,
but it will also provide an influx of potential candidates to fill temporary and permanent positions sought by
the Companys business clients.
5.3 Pricing
In this section, describe the pricing of your services and products. You should provide as much
information as possible about your pricing as possible in this section. However, if you have hundreds of
items, condense your product list categorically. This section of the business plan should not span more
than 1 page.
In this section of the business plan, you should write a two to four paragraph biography about
your work experience, your education, and your skill set. For each owner or key employee, you
should provide a brief biography in this section.
The Employment Agencys revenues are sensitive to the overall condition of the economic markets. In the
event of a severe decrease in the general economic climate, staff positions (permanent and temporary)
may begin to become eliminated. As such, during times of economic recession, the business may have a
significant decrease in revenues. However, this is a high margin business, and Management will always
generate enough profit and positive cash flow for the business to meet its financial obligations.