Thinking about opening an employment screening services business? We tell you what you need to know to get started.
(article continues below)
How to Create a Winning Employment Screening Services Company Business Plan
If you've done your homework, you already know that writing a business plan is the most critical thing you can do for your company.
Although it might seem like an unnecessary formality, your employment screening services company's business plan is a document that will shape your goals and strategies on a go-forward basis.
If that's not enough, consider that business plans inoculate your business from common startup mistakes. Lacking a solid business plan, many startups find themselves rudderless and incapable of executing consistent decision making processes, while committed business planners rely on their plans to guide all of their decision making and short-term planning efforts.
Investigate the Competition
Long before you open an employment screening services business in your area, it's a good idea to determine how strong the competition is. Try our link below to generate a list of competitors nearby. After clicking on the link, type in your city, state and zip code to get a list of employment screening services businesses near you.
Is the established competition doing a good job? It's important to understand their strengths and weaknesses and think through how you'll stake up against those established businesses.
Learn from Others Who Are Already In This Space
After you've evaluated your local competitors, the next step is to talk to somebody who is already in the business. It's very unlikely that the local competition will talk to you. What's in it for them?
On the other hand, an individual who has an employment screening services business in a location that is not competitive to you can be a great learning resource for you, after they realize you reside far away from them and won't be stealing their local customers. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. In my experience, you may have to call ten business owners in order to find one who is willing to share his wisdom with you.
So, what can you do to find an entrepreneur who is running an employment screening services business who is willing to talk to you but doesn't live nearby?
We can help. Follow the link below, try a few city/state combos or zipcodes, and then start calling!
Acquisitions vs. Startups
To become an employment screening services business owner, you'll either need to buy an existing business or start one from scratch.
Unless you have compelling reasons to launch a new business, buying an existing employment screening services business may be the better choice.
An acquired employment screening services business is a known quantity; a startup is less certain because its forecasts depend on estimated outcomes. The key is to locate a business-for-sale that closely matches your ownership philosophy and professional objectives.
Franchising May Be a Better Way to Go
A new business startup presents a number of challenges, not the least of which is the creation of policies, procedures and workplace routines. Solid franchise opportunities equip startup owners with training and other resources designed to streamline workflows and operations.
With many employment screening services business franchise opportunities to choose from, we recommend visiting our employment staffing franchise directory to determine which franchisors are consistent with your vision and goals for your startup.
These additional resources regarding starting a business may be of interest to you.
If you currently own an employment screening services business, these resources will come in handy:
If you sell to employment screening services businesses, you're in the wrong place. Try these resources instead:
If you are interested in starting a different kind of business, please browse our directory of guides below.