Business Insights for Staffing Agencies

How Staffing Agencies Make Money in Their First Year

New staffing entrepreneurs often wonder, “How do staffing agencies make money?” It’s a question new clients pose to us all the time. It may seem like you have to operate without a profit for several years while you grow your business, but this isn’t the case. In the early stages of your business, consider actions…

Invoice Factoring Rates: How Much Does It Cost?

Invoice factoring is a financial tool that provides staffing businesses like yours with flexible financing options. Invoice factoring rates vary, so read on to uncover how much invoice factoring costs and the extra benefits it offers compared to traditional financing. How Much Does Invoice Factoring Cost? The short answer is: it depends! There are typically…

Encore Funding Exhibiting at American Staffing Association’s Staffing Law in Washington D.C. May 17th-18th

Meet us in Washington D.C! The Encore Funding team is thrilled to attend American Staffing Association’s Staffing Law in Washington D.C from May 18-19, 2023. Stop by Booth 105 to learn more about our full-service or money only funding solutions for staffing firms! Our team looks forward to: Networking with staffing entrepreneurs and friends in…

Encore Funding Attending CSP Annual Conference in San Diego May 10th-12th

Meet us in San Diego! Stop by Table 15 to learn more about our full-service or money only funding solutions for staffing firms! Our team looks forward to: Networking with staffing entrepreneurs and friends in the industry Attending great sessions like Evolve Your Leadership in 5 with Keynote speaker Andre Young, The US Staffing…

7 Things Staffing Agency Owners Wish They Knew Before Starting Their Company

What Staffing Agency Owners Wish They Knew Earlier A staffing company is a rewarding business venture, but it can be a challenge to get started without the right information as a staffing agency owner. Many successful owners make common mistakes early on, like underestimating the power of factoring for staffing companies, and learning through trial…

Top 6 Mistakes to Avoid When Starting a Staffing Agency

How to Start a Staffing Agency: Pitfalls to Avoid Early On Whether you’re interested in how to start a staffing agency or you’ve already begun doing business on your own, congratulations and welcome! The staffing industry is multifaceted and intriguing. When you first start out, though, it can be difficult to know what mistakes you…

How to Make the Most of Your Staffing Agency Business Partnerships

As a staffing agency owner, it’s important to get the maximum value out of your business partnerships. Ed Burr, Director of Client Growth & Strategy at Encore Funding, was featured on a webinar hosted by UZIO, a technology platform for businesses, to share vital information that all staffing agency owners should know. Watch Ed and…

What Is Invoice Factoring and How Does It Work?

It can often take 90 days or longer to receive payment from customers or clients. Invoice factoring, also called payroll factoring or funding, gives you access to the instant cashflow you need to meet financial obligations and objectives. Staffing companies commonly rely on invoice factoring because long waiting periods make it difficult to take advantage of…

Payroll Factoring 101: Recourse vs. Nonrecourse Factoring

You may already know that factoring is when a factoring provider like Encore Funding buys your outstanding invoices and transfers you cash. However, it’s important to understand the two main types of factoring, recourse vs. nonrecourse, before you decide how to manage your staffing firm’s capital needs. Read on to discover more about…

Governmental Requirements to Start A Staffing Agency

Rules, regulations, processes – there are many steps required to start a staffing agency and it may seem confusing on the surface. We’re constantly asked: What are the requirements to start my own staffing company? Can you tell me the main steps to follow before opening my own staffing business? Aside from the regulations…

How to Write a Staffing Agency Business Plan: 5 Essential Sections

A business plan is a living document that can change as your company grows and should be updated as necessary. There’s no right or wrong way to write a business plan; however, there are several key elements that all staffing companies should have in place as a guide to keep the business focused. Here’s how…

How to Retain Staffing Employees

Some temporary employees enjoy the impermanent nature of temporary work, preferring to gain a wide range of experiences. Others take on temporary work in addition to a full-time job for extra money. No matter the employee’s intent, it’s important you know how to retain staffing employees and gain a reliable pool of talent to fulfill…

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