When acquiring other staffing agencies, time is of the essence. There are many moving parts involved in the process. You must look at the potential for growth, the quality of management of the selling and recruiting team, the degree of overlap with your own agency, and other areas. Timing also is a significant concern. Although the market may look good, it can change quickly. To promote a smooth transition, you must work with the seller to negotiate a deal that benefits both of you, provide the proper funding, and integrate the staffing agencies once the paperwork is complete. Fortunately, you do not have to undertake this complex process alone.
Find out why time and funding matter when acquiring staffing agencies and how Madison Resources can help.
Invest Your Time Wisely
Acquiring a staffing agency requires a substantial amount of time. Your goal is to buy a complementary business model with established processes and the right team to grow the agency. Top concerns include the quality of business, potential for growth, current management team, retention of employees, and overlap with your existing agency. Investigating these and related issues take time. Our staffing experts can provide additional insight based on your objectives.
Buying a staffing agency involves a substantial amount of capital. Since you most likely need help with funding, turn to a trusted third party that understands the importance of fast turnaround. We offer 100% payroll funding to secure capital for the transaction. Talk with us about your specific needs to see how we can help.
Cultivate Existing Relationships
Building on the acquired staffing agency’s relationships with employees, candidates, and customers increases your odds of a successful transition. It can take weeks to develop a communication plan for customers, associates, and internal staff to keep them informed about and on board with the acquisition. Being direct and clear about what the transition will mean for both parties is important to facilitate the process. We can provide additional guidelines for your specific needs.
Learn from Steve R.’s Experience
Steve R. contacted us when he had a once-in-a-lifetime opportunity to buy a significant number of staffing agencies within a ten-day period. His agency was not prepared to manage the back office and did not have a banking relationship to secure a loan. We were able to provide the business advice and funding necessary to complete the deal.
“After reviewing the opportunity with the senior team, within 48 hours, Madison said ‘yes’ and organized what needed to occur. We secured the business, and within ninety days, we were operating at $40MM in billings in 12 offices.”
Gain a Funding Partner
Turn to Madison Resources for funding to acquire additional staffing agencies. Take advantage of our suite of funding, technology, back-office services, and business intelligence to bring your agency to the next level. Talk with us today.