Q: Is temporary staffing industry experience necessary?
A: No! The staffing business is largely based on relationships with people and service. A business background with a good understanding of what it takes to run a successful business, along with some sales experience, should be sufficient to get started. Of course, you’re not alone, and EO will be available to support your efforts.
Q: What will it cost me to license an EO temporary staffing service?
A: Unlike franchising, there is no up-front fee to pay for the license, training, territory or operational support – that’s just a natural part of the program. We anticipate, depending on the market, that licensees will need approximately $75,000 - $150,000 in personal capital over the course of the first year, or longer, to cover office start-up costs and overhead. These costs include office space, supplies, marketing, and additional office staff.
Q: Does EO offer financing to start a licensed operation?
A: EO assists licensees financially by funding the payroll and receivables, which can be substantial. Generally, EO does not offer financing, but can assist you in securing information to obtain a small business loan if necessary. EO may offer financing for people who meet the top level of our selection criteria for prospective licensees, i.e. industry experience, sales experience, management experience, vast knowledge of the market, etc.
Q: How am I paid?
A: You receive a percentage of your office’s gross profit dollars based on a matrix of volume and margins. During the first 90 days of operation, you receive 100% of the gross profit.
Q: How do I minimize my risk and maximize my potential for success?
A: Initially, we’re looking for someone who is preferably from the market they want to serve as their territory. The “hometown” relationships, both personal and professional, are a big step toward success. Enlisting the help of family and friends for networking, and business acquaintances for leads and orders, greatly enhances chances for success and more rapid business growth from the beginning. A comprehensive and successful business and sales background, coupled with the desire to “win,” are often good predictors of future success. Together, we evaluate all of these areas before entering into an agreement.
Q: What training and support do new licensees receive?
A: You’ll spend at least a week in training at our corporate office, as well as visiting successful existing EO braches. Training includes defining a successful business in the staffing industry, sales and marketing, steps to locate and open an office and regular visits to support, coach, sell, train, and help you build your business. Our experience, business “tools”, and people complete your training by assuring you that you’re not alone.
Q: Can I license more than one office?
A: Yes! This is something we’ll discuss in our initial conversations and when we agree on a territory. Growing the business geographically benefits everyone.
Q: How is my territory assigned?
A: True to the way EO does business, this is a mutually agreed upon “win-win” decision. We both agree on your territory, even including future expansion, in advance of finalizing an agreement.