New year, new career?
For those re-evaluating their career path and looking for something exciting beyond a typical 9 to 5 job, becoming a franchisee could be just the ticket! And as we move into 2022, the field of recruitment franchising is one of the most popular – and often lucrative – business models.
It’s a growing field that shows no signs of slowing down. In fact, the recruiting and staffing industry grew from $81 billion to $151 billion from 2009 to 2019. And though COVID-19 has temporarily affected most industries, the franchise industry’s contribution to the current economy is expected to grow 7% at the end of 2021 – reaching its pre-pandemic numbers by the beginning of 2022.
So here are a few factoids you should know if you’re considering becoming a professional recruiter, and starting your own recruiting franchise:
- According to the experts at the International Franchising Association (IFA), franchising will recover to levels last experienced in early 2019 and sales are expected to soar among franchise companies to their highest levels since the last recession.
- Unemployment rates are low – starting the new year off with payroll levels that should be rising in 2022. As unemployment rates go down, new franchise owners should be able to find qualified employees to help get the business running.
- Interest rates will stay low, which is a good sign if you’re anticipating borrowing money to start your franchise.
- A rising inflation rate in the next couple of years will allow franchise owners greater flexibility in pricing.
How Does Franchising Work?
The typical franchise model is based on providing certain branded goods or services. The franchisor is the owner of the original business who holds the rights to the trademark and the business system. The franchisee obtains the right to operate under the franchise’s name, typically paying an initial fee, as well as royalties, to the franchisor.
Among the benefits of opening a new franchise business is you don’t have to start from scratch – a viable business concept has already been established. The job as a franchise owner is to duplicate the formula to generate a profit for yourself. This alleviates a lot of time and effort for the new franchisee and enhances the opportunities to focus on quickly building a business and income.
The Advantages of Franchising
The chief benefit of buying a franchise is the use of an established brand to market your business. Franchises are already well known to the public and come with a built-in customer base, allowing you to save the money and effort you would spend just to get your name out there. You’ll also have the advantage of following a business model that has already proven successful.
How to Become a Successful Recruiter
If you’re a confident person who’s resilient, a strong multi-tasker, competitive, a good learner, and loves working with people, then you already have many of the traits needed to succeed as a recruiter.
To find out if a recruiting franchise career is right for you, contact the i4 Search Group today for more information. With a combined 50 years of industry experience, we know what it takes to be a successful franchisee.
Start Your Franchise This Year!
i4 Search Group – Recruiting Healthcare Heroes since 2019. We’re a permanent placement recruiting firm specializing in healthcare recruiting across North America. If you’re a nursing, allied health, or any other healthcare professional looking for your next career move, visit our website and see how our experienced team of professionals can help you find a great position in 2021.