How Staffing Agencies Make Money in Their First Year

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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…

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Invoice Factoring Fees: How Much Does It Cost?

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Invoice factoring is a financial tool that provides staffing businesses like yours with flexible financing options. Invoice factoring fees vary, as Tim Sardinia, our Executive Vice President, explains in his video below. Watch or read on to uncover how much invoice factoring costs and the extra benefits it offers compared to traditional financing.   How Much…

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

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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…

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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…

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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…

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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…

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