Thinking about opening an employee assistance programs business? We tell you what you need to know to get started.
(article continues below)
Core Characteristics of Employee Assistance Programs Company Business Plans
Every business plan is unique, yet the most effective plans share a handful of essential traits.
If your plan lacks required elements like an executive summary or marketing plan, it could jeopardize its potential to deliver real benefits to your startup.
Although it will need to be incorporated into the flow of your plan, we strongly recommend considering a PEST (Political, Economic, Social & Technological) analysis for inclusion in your employee assistance programs company's business plan.
Don't Ignore the Competition
Prior to launching an employee assistance programs business in your town, it's a good idea to see what the competition looks like. We've provided the link below to help you generate a list of competitors in your area. Simply enter your city, state and zip code to get a list of employee assistance programs businesses in your town.
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
If you are interested in starting an employee assistance programs business, it's essential that you 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?
However, a fellow entrepreneur who has started an employee assistance programs business in another town will be much more likely to talk with you, as long as they don't view you as a competitive threat. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
Where would you find an employee assistance programs business entrepreneur that lives outside of your area?
Simple. Let your fingers do the walking by using the link below.
Advice for Acquiring an Employee Assistance Programs Business
Without a doubt, it usually makes more sense to acquire an employee assistance programs business than it does to pursue a startup.
But without adequate financing, your plans to own a first-rate employee assistance programs business are going nowhere. Business acquisitions are easier to finance than business startups, even though the financing process can still be exhausting.
To increase your approval odds, we suggest you take a look at Gaebler's Business Acquisition Financing Tips.
Don't Rule Out Franchising
Recognize that your chances of achieving your top business goals are much better when you join the ranks of franchisees in lieu of doing everything yourself.
Before opening an employee assistance programs business, you should assess whether franchise opportunities in your space might make it easy to get started.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you currently own an employee assistance programs business, these resources will come in handy:
If you sell to employee assistance programs 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.