Employment Agency Franchise Value Assessment for 2017
Since their inception, employment agency franchises like AtWork have filled a valuable role in the United States economy, providing workforce solutions for both ends of the hiring equation. To date, there are upwards of 20,000 employment agency franchises, staffing firms, and recruiting companies active in the United States, comprised of some 39,000 offices occupied by hundreds of thousands of employees. With so many players active in the staffing industry, you may be wondering whether or not this sector is a smart investment option.
In today’s post, the AtWork team breaks down the value of starting an employment agency franchise in 2017.
Staffing industry growth outpace national economic growth rates – and employment trends promise an increasingly profitable future.
In 2015, total staffing and recruiting industry sales saw tremendous growth. According to Garsten (2015), total revenue in this industry increased by upwards of 5.4%, translating to $147-billion. This number is astonishing, and has some exciting implications for investors researching the value of employment agency franchises.
Delving deeper into this statistic, we can see that temporary and contract staffing sales totaled over $120-billion in 2015, which represents a 4.1% annual growth rate. In 2016, this number only continued to increase; today, many millennial job-seekers choose temporary employment over permanent careers because of the flexibility and novelty that these positions provide.
The growth rates of temporary and contract staffing services exceed those reported by the retail industry, being rivaled only by the surging demand of senior care services seen as the Baby Boomer generation continues to age. However, this is also good news for staffing franchisees, since many choose to develop medical staffing services. AtWork is poised to take advantage of this boom in demand for at-home senior care services.
The growth of search and placement sales grew, too; compared to statistics from the first quarter of 2014, employment agency franchises saw an increase of over 14% in this area (Garsten, 2015). If we apply the projected growth rates reported by the Staffing Industry Analysts and use the U.S Economic Census as a benchmark,we can estimate a total revenue of this sector to total around $20.6 billion.
Employment agency franchises creating greater value and stronger economies in local communities.
Though it’s easy to fixate on the value that the staffing industry can offer you, it’s worth acknowledging the way that starting up with AtWork adds value to your community. Beyond our role in recruiting some of America’s top talents to staff both current and upcoming economy-driving businesses, AtWork is also a provider of outstanding career opportunities. That means bringing gainful and gratifying work to members of your community who need it to support their families, and building a stronger economy that benefits us all.
Take advantage of a high-value industry with AtWork
Starting an employment agency franchise with AtWork is one of the best ways to take advantage of the rising value of the staffing industry. We provide premium training, brand-name recognition from day-one, and unparalleled marketing services so you make the most of your investment. You can learn more now by visiting http://www.atworkfranchise.com.
Garsten, C. (2015). 12. The labour market as a market: exchangeability, measurability and accountability. Makeshift Work in a Changing Labour Market: The Swedish Model in the Post-Financial Crisis Era, 187.