21st century is innovation
time. Starting a business in this time is much easier as compare to 10-15 years
back. Organization updating and changing their working culture & hire
skilled person to reach out to the next level.
There is huge demanding of skilled
person in the market & off course there is also demanding of new business
ideas such as placement agency business idea.
People want to start their business but
the problem is that, they are confused to selecting a business idea. They could
have best option for Placement Agency Business. It is easy to start and easy to
scale as well.
How you can start this business
without any experience?
In this article, I will give a basic
introduction about placement agency business based on my 2.5 years of
experience on it.
What is Placement Agency Business?
Placement Agency Business or
Recruitment Agency Business is nothing but man power supply services in a
particular organization. Every business needs skill candidates to run their
business & this business hire services provider such as Placement Agency to
full fill their requirements.
How to start a Recruitment
Agency Business?
First of all you need to understand
that starting a Placement Agency Business or Recruitment Agency Business is
more simple & easy to start but you need to strictly follow legal terms
& condition to deal with your clients.
Here are the 3 Steps to start
Recruitment Agency Business.
While working as a placement agency
owner you need to deal with 3 segments –
A.
Candidate Segment
As I told you
that, you are man power supplier of a particular organization. So, you need
huge database of candidates such as their personal & professional details.
Because at right time you need to full fill your client’s requirements.
When I was
working in placement agency, I have build more than 6k database of candidates
& believe me it’s easy to make database because most of the candidates are
unemployed and they need job.
Follow some
steps –
a.
Make some images of business
introduction / job description / post details etc. Remember, your image should
have a call to action, so that people can contact you.
b.
Circulate to all your network such as
– Friends, relatives, colleges us
c.
Once your images are circulating in the market
than you are getting calls by candidates.
B.
Client Segment
You are
distributed your post details in the market but you should have the sufficient
number of job description. So that, you need to work on the client segment as
well from scratch.
Follow some
steps to acquire your first client –
a.
Start from small business such as –
your family business, your neighbors business, your local market business &
ask them that “Hey, do you need some skilled candidates for your business. We
are the XYZ placement agency & we can provide you skilled candidates for
free with 3-6 month replacement”. Most of the business owners are ready to work
with you.
b.
While working with client you need to
make a separate database because when you reached more number of clients you
may get confused about it.
C.
Business Segment
You are
dealing with human & your one mistake can loss you more. While working as a
placement agency business owner it is very important for you to go with legal
work.
A small legal
work & written document process can give your huge profit on your business
path.
But you may
have question like – what kind for recruitment agency business license are
required in India or how to register a placement agency as a legal firm.
Here I will
suggest you to go with proprietorship (sole proprietor) firm & If you have
budget to invest with team member than you can also go with the Private Limited
Firm.
Both the
cases you need to consult with CA & they will guide you in proper manner.
Then another
thing is Revenue Model of your Placement Agency Business.
Money is the
motivation & encourages taking action. You are now familiar with candidates
segment & client segment but what about your revenue model and how you will
generate revenue from it?
There are
multiple ways to generate revenue from placement agency business but here we
will discuss only on the 2 revenue model –
a.
Candidates based model
Once a candidates
visited to your office you can easily chare Rs. 200 – 300 INR as a registration
fees & when the candidates placed then you can charged half salary of frits
month as a consultancy charge after payment received.
But here is
an issue that – candidates may resign that job within the 10 – 15 days with any
reason. Then you need to replace with other candidates for same post.
b.
Client based model
You can also
charge from client apart from candidates based model. Make an agreement or MOU
with client that – we are placing candidates on your vacant post with 3 month
replacement & you are ready to pay a certain percentage of annual salary of
that position.
While dealing
with clients its mandatory for you to mentioned each & every prospect &
situation on the written documents. It should be clear terms & condition.
Conclusion –
Yes,
everyone can start a placement agency business without any experience but one
thing you should remember is – always work legal & provide best services to
your clients.
If you have still confusion on it
than I will invite you join my full practical training on “How to start
placement agency business without experience (in Hindi)”. Where I am give the
more details about to start your own placement agency business.
What topics I will covering on my training program –
- Why you should start placement agency business
- How to select name of your business
- How to go with legal
- How to get your 1st client
- How to place your 1 candidates
- How to generate your 1st revenue within 15 days
- & much more.
Click the link below & I will meet you on the next side.
Thanks