Pick a Niche … Get Rich

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Did you know that one of the top-growing staffing niches in 2015 was marijuana agency staffing? This just goes to show that although certain niches aren’t for everyone, for the right organization, there can be a great fit and business opportunity.

Whether you’re a staffing startup, an entrepreneur thinking about starting a staffing firm, or an established staffing firm, you should contemplate niche services.

Benefits

There are many benefits to niche services.

Perhaps the best one is focus. Niche players have a dual advantage: They can focus on a select group of workers and a select group of clients. This allows niche staffing firms a crucial advantage when it comes to a manageable pipeline of workers and also provides a great selling point for your sales team. Wouldn’t you want your sales team to be able to say, “We only do travel nurses,” as opposed to “We do everything”? How many clients have heard that before?

Having this focus can help establish you as an expert in a specific industry, and be a key differentiator. It can allow you to develop a regional advantage, a road to success for many staffing firms.

Ways to Develop a Niche Service

There are many ways to develop a niche service to you. One, if you are big enough, can be the acquisition of a firm in a niche that appeals. Of course, many owners and operators go the other route, building a successful niche service and then selling it. Acquisition can be successful for all parties, but it brings its own host of issues, including cultural fit.

An arguably more organic way is to let your customers lead you into new areas. For example, a hospital may need nurses, but it also typically needs IT workers. There’s a natural “in” with these clients.

Particularly if you’re thinking about developing a startup, you can also do your own market research before you begin. The BLS publishes jobs growth by state and region, as well as fastest-growing jobs. Not surprisingly, healthcare, most notably home healthcare, is becoming a perennial growth leader (Thank you baby boomers). On the other hand, many sectors of manufacturing are faring poorly. And again, the location where you’re operating can make a huge difference.

Hiring the right team is also key to developing your service. You’re going to need a core team with experience in your new niche. You’re selling your expertise in a new market; you’ll need bona fide pros that can start you out on the right foot.

 

Our goal is to make your staffing firm more profitable. With our back office solutions, use of technology, and expertise in the staffing industry, we can set your firm up to succeed, no matter what your niche. Contact the experts at Madison Resources today!

Sidebar:

BLS’ Projected Hot Jobs (Percent of Growth Predicted Through 2022)

Healthcare Support Occupations (28.1)

Healthcare Practitioners and Technical Occupations (21.5)

Construction and Extraction Occupations (21.4)

Personal Care and Service Occupations (20.9)

See the full list and more

Sidebar

Steps for Niche Success

  • Find a niche where you can excel
  • Hire the right sales and recruiting teams
  • Research your target audience (both clients and candidates)
  • Follow your clients into niches