As you explore franchise options, you’ve no doubt encountered the term “staffing franchise” or “employment agency franchise.” To make things more complicated, there are also medical staffing franchise and staffing company franchise opportunities. But what’s the difference between these two types of businesses? And which one is the better investment?
How much does it cost to own a franchise?
There are always costs associated with starting a business, and franchise ownership is no exception. Understanding the true cost of any franchise opportunity you are considering is important, especially when it comes to the associated fees. There are three numbers to review:
- The initial investment
- The franchise fee (a one-time fee that gives you the right to use the parent company’s name, logo, etc.)
- The royalty fee (a monthly fee paid to the parent company)
What is a medical staffing franchise?
A medical staffing franchise (sometimes called a health care staffing franchise) provides temporary clinical or home nursing staff to health care providers. Like all franchise businesses, medical staffing franchisees own the right to work in a specific geographical territory.
Here’s a breakdown of the typical costs associated with investing in a medical staffing franchise:
- Initial investment range: $50K to $300K
- Initial franchise fee: $20K to $200K
- Royalty fee range: 4% to 20%
What is a staffing franchise?
A staffing franchise matches people seeking work with employers seeking to fill open positions. Unlike a medical staffing agency, a staffing agency franchise works to fill jobs across a variety of industries, not just health care.
Express Employment Professionals is the #1 staffing franchise, with over 40 years of category experience. With over 860 locations that are 100% franchised, we’re able to focus on supporting, training and growing our Franchise Owners and their businesses.
Here’s a breakdown of the Express staffing agency franchise cost:
- Initial investment range: $140K to $220K
- Initial franchise fee: $40K (currently waiving this fee for select markets when you sign your agreement by March 15, 2024)
- Royalty fee: 8%
What are the other benefits to owning a staffing franchise?
Owning a franchise business has benefits beyond the bottom line. When the business you invest in provides jobs, you bring stability and leadership to your community. Unlike a medical staffing franchise, an Express staffing franchise works with many different jobs and organizations. As a result, Express pairs more people with more jobs, making a real difference in every area they join.
Why is a staffing franchise the best franchise opportunity?
The staffing industry has remained strong over the past few years, despite the ups and downs of the economy. This is largely because people will always need jobs, and companies will always need employees. Express offers a variety of job opportunities, providing work to many people with different skill sets.
The 2023 IFA Economic Outlook Report analyzes franchise performance over the past year and forecasts the year ahead. They’re predicting moderate growth for franchising this year, with service-based industries (such as staffing) expected to see higher growth than other industries.
What do Express Franchise Owners say?
If you’re feeling overwhelmed by the Express opportunity despite all the proven points, you’re not alone. “I didn’t even consider going into the staffing industry or staffing business,” says current Franchise Owner Sandy Yeung. “I’m not from the staffing industry. I’ve never recruited before.” Despite their lack of industry experience, Sandy and her husband, Steve Wong, felt comfortable investing in Express, thanks to our outstanding Franchise Owner support. “I would say the one thing Express does extremely well is supporting its Franchise Owners,” says Steve. “I just followed the system,” says Sandy. “Looking back, I definitely would have bought the franchise again.
How can I get started with Express?
If you’re ready to take the next steps with Express, we’d love to hear from you. We’re looking for high-energy people that are ready to take a hands-on approach to ownership and have a business or sales background. Financially, you should have a net worth of $250K and access to liquid capital of $190K to $250K. If you meet these criteria, fill out the form below to connect with one of our Franchise Development Directors.