An organization that recruits nurses for hospitals and other organizations is known as a nursing staff agency, although it can also be referred to as a search, recruiting, or staffing firm. Recruiting, hiring, training, rewarding, and keeping personnel for a business are all considered to be part of the staffing process.
When a candidate for a job registers with a staffing agency, they have the chance to contact numerous hiring managers who are trying to fill their job positions with the best candidates. The size of the American healthcare staffing industry, which was anticipated to be worth USD 24.1 billion in 2021, is predicted to increase at a compound annual growth rate (CAGR) of 5.6% from 2022 to 2030.
Due to the growing elderly population and the shortage of competent nursing staff nationwide, there is an increase in demand for temporary staffing of medical professionals. These are some of the reasons driving the market expansion.
Steps on How to Start Nursing Staff Agency
Table of Content
Conduct Market Research
The greatest way for your organization to make the informed judgments it requires is to undertake market research. One of the primary reasons you conduct market research on nursing staff agencies is to gather data that will assist you to make the best decisions and grow your market share.
You must make sure that you are conducting research on your competitors in addition to using primary and secondary data sources.
In order to stay in the game, keeping a tight eye on your rivals is helpful. You may make smarter judgments for your business by, for instance, frequently checking their website and getting feedback from customers who have worked with them.
a. Who is the Target Market for Nursing Staff Agency?
- Maternity Homes
- Assisted Living Facilities
- Medical Emergency Transportation Companies
- Airline companies
- Corporate Organizations.
b. Is a Nursing Staff Agency a Profitable Business?
Yes, the nursing staff agency market is profitable. According to data that is currently available, the industry is expected to reach USD 24.1 billion in 2021 and develop at a 5.6% compound annual growth rate (CAGR) from 2022 to 2030.
c. Are There Existing Niches in the Industry?
When it comes to the nursing staff agency line of business, there aren’t any current niches because this is a niche concept in the staffing agency market.
d. Who are the Major Competitors?
- Global Nursing Recruiters
- Avant Healthcare Professionals
- O’Grady Peyton International
- Conexus MedStaff
- Kennedy Healthcare Recruit Inc.
- United Health Care Staffing
- WorldWide HealthStaff Solutions Ltd.
- White Glove Placement, Inc.
- Global Healthcare Resources, Inc
- Global Nurse Force
- Nurse Recruitment USA
- MedPro Healthcare Staffing
- Greenstaff Medical – USA
- Trusted Nurse Staffing
- Adex Medical Staffing LLC
- Medliant International Healthcare Staffing
- Medical Jobs Pro | Nursing Jobs in the United States | Nurse Recruitment Agency
- Triage Staffing
- Pulse Staffing
- Capstone Healthcare Staffing.
e. Are There County or State Regulations or Zoning Laws for Nursing Staff Agencies?
Nursing staff agencies are not subject to county or state regulations and zoning laws, but participants in this field are required to abide by the rules already in place controlling similar businesses in the county or state where their business is located.
f. Is There a Franchise for Nursing Staff Agency?
Yes, there are franchise opportunities for nursing staff agencies and they are;
- Medical Staffing Consultants
- First Choice Medical Staffing
- Alliance Recruitment Agency.
g. What Do You Need to Start a Nursing Staff Agency?
- A Feasibility Report
- Marketing and Business Plans
- Business Permits, and Licenses
- A Suitable Space for your Office
- EIN (Employer Identification Number)/Federal Tax ID Number.
- A Corporate Bank Account
- Office Equipment
- Staff Members
- Startup Capital
Choose a Memorable Business Name
When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable. Some of the catchy business name ideas suitable for a nursing agency business are;
Creative Nursing Staff Agency Business Name ideas
- Bestie Jack© Nursing Staff Agency, Inc.
- Philomena Allison® Nursing Staff Agency, LLC
- Mike Mash© Nursing Staff Agency, Inc.
- Richie Hall® Nursing Staff Agency, Inc.
- Mendez Emerson™ Nursing Staff Agency, Inc.
- Pauline Henze™ Nursing Staff Agency, LLC.
- Justin Parker© Nursing Staff Agency, LLC
- Fred Nelson® Nursing Staff Agency, Inc.
- Kendric Marshal© Nursing Staff Agency, Inc.
- Stallon McQueen© Nursing Staff Agency, Inc.
- Gaius Arthur® Nursing Staff Agency, LLC
- Amie Mack® Nursing Staff Agency, LLC
- Philip Daniels™ Nursing Staff Agency, LLC
- Rosa Bucknor© Nursing Staff Agency, Inc.
- Wade Johnson® Nursing Staff Agency, Inc.
- Eden Manuel™ Nursing Staff Agency, Inc.
- Chris Golden™ Nursing Staff Agency, Inc.
- Ambrose Allen© Nursing Staff Agency, Inc.
- Janzen Bernard® Nursing Staff Agency, LLC
- Phil Greene™ Nursing Staff Agency, Inc.
Register Your Business
a. What Type of Business Structure is Best for Nursing Staff Agency?
The reality is that there are a number of options available when it comes to the legal form of a nursing staff agency, but an LLC is what the majority of participants in this industry choose. Providers form an LLC in order to defend themselves in court.
Please be aware that an LLC will require an EIN if it is required to file any of the excise tax forms listed below or if it has any employees. The majority of newly formed single-member LLCs that are considered disregarded businesses must obtain an EIN.
b. Steps to Form an LLC
- Choose a Name for Your LLC.
- File Articles of Organization.
- Choose a registered agent.
- Decide on manager management vs. member
- Create an LLC operating agreement.
- Comply with other tax and regulatory requirements.
- File annual reports.
c. What Type of License is Needed to Start Nursing Staff Agency?
- General Business License
- Zonal Permits
- Signage Permit
- Operational State Facility Inspections
d. What Type of Certification is Needed to Start a Nursing staff Agency?
e. What Documents are Needed to Start Nursing Staff Agency?
- Business and liability insurance
- Federal Tax Payer’s ID
- Building Approval, and State Permit
- Certificate of Incorporation
- Business License
- Business Plan
- Employment Agreement (offer letters)
- Operating Agreement for LLCs
- Insurance Policy
- Contract Document
- Company Bylaws
- Memorandum of Understanding (MoU)
f. Do You Need a Trademark, Copyright, or Patent?
If you are considering starting a nursing staff agency, you may not need to file for intellectual property protection or a trademark. This is accurate since the nature of the business makes it possible for you to successfully run the company without needing to sue anyone for misusing your intellectual property.
Cost Analysis and Budgeting
a. How Much Does It Cost to Start Nursing Staff Agency?
To be honest, the budget needed to launch a nursing staff agency might vary considerably. But on average, you will need from $5,000 to more than $100,000 to launch your nursing staffing business.
b. What are the Costs Involved in Starting a Nursing Staff Agency
- Business Registration Fees – $750.
- Legal expenses for getting the required permits and licenses – $7,300.
- Marketing, Branding, and Promotions – $3,000.
- Business Consultant Fee – $2,500.
- Insurance – $2,400.
- Rent/Lease – $50,000.
- Other start-up expenses such as commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
- Operational Cost (salaries of employees, payments of bills et al) – $30,000
- start-up inventory – $5,000
- Store Equipment (cash register, ventilation, security, signage) – $3,950
- Office Furnishing and Equipping – $10,000
- Website: $600
- Opening party: $3,000
- Miscellaneous: $2,000
c. What Factors Determine the Cost of Starting a Nursing Staff Agency?
- The selection of the area you plan to cover
- The necessary authorizations and licenses
- The kind of workplace space
- Offering of additional services
- The price of marketing, advertising, and branding
- The price of outfitting the nursing staff agency
- The insurance policy’s price includes
- The cost to register the business
- The expense of hiring and training new employees
- The price of buying and modifying uniforms for your staff
- The expenses associated with the grand opening.
d. Do You Need to Build a Facility? If YES, How Much Will It Cost?
Although building a new facility for your nursing staff agency is not mandatory, if you have the necessary funding, you should consider doing so. The fact is that you will have the chance to design a facility that properly reflects your overall business aims and vision if you are building or remodeling a facility.
e. What are the Ongoing Expenses of the Nursing Staff Agency?
- Utility bills (phone bills, internet subscriptions, signage, and software renewal fees)
- Salaries of employees
f. What is the Average Salary of your Staff?
- Chief Executive Officer – $62,000 Per Year
- Admin and HR Manager – $45,000 Per Year
- Nursing Staff Consultant – $42,000 Per Year
- Marketing and Sales Executive $40,000 Per Year
- Accountant – $40,000 Per Year
- Customer Care Executive / Front Desk Officer – $35,000 Per Year
g. How Do You Get Funding to Start Nursing Staff Agency
- Use personal savings and the sale of personal stocks and properties
- Obtain capital from investors and collaborators
- Offer your shares to potential buyers
- Contact your bank or banks to request a loan
- Present your business concept to potential investors, requesting business grants and startup money from the government and philanthropic institutions
- Your friends and family may be able to help you out with soft loans.
Write a Business Plan
a. Executive Summary
Amie Mack™ Nursing Staff Agency, Inc. is a top-tier nursing staff agency that will be situated in Houston, Texas. We were successful in securing a strategically located office in Houston’s downtown commercial sector. We plan to compete in the fiercely competitive staffing agency market not only in the Texas market but also in markets across the United States.
Amie Mack™ Nursing Staff Agency, Inc. only offers employers prospects that are thought to be the best fit. Each candidate goes through an orientation where the internal policies and procedures are reviewed and expectations are covered.
b. Products and Service
- Posting job openings on numerous websites, reviewing applications, and assembling short lists of suitable applicants.
- Coordinates the scheduling of interviews and the development of hiring and selection materials, including interview questions.
- Participates in and conducts interviews with managers, directors, and other stakeholders as part of the interview process.
c. Mission Statement
Our mission is to assist medical-related businesses, individuals, and non-profit organizations find the best candidates (nurses) for their open positions through the provision of professional and highly innovative services.
Our vision is to create a world-class nursing staffing agency whose reputation and services will be respected not just in the United States but across the world.
d. Goals and Objectives
The goals and objectives of the nursing staff agency are to help hospitals, clinics, and medical-related organizations recruit the right nursing staff for their organization.
e. Organizational Structure
- Chief Executive Officer
- Admin and HR Manager
- Nursing Staff Consultant
- Marketing and Sales Executive
- Customer Care Executive / Front Desk Officer
a. SWOT Analysis
- A great place to start a nursing staff agency
- Highly qualified personnel and management with years of experience
- Access to a substantial pool of expertise
- A strong network of essential players.
- Financial limitations could limit the company’s marketing efforts and branding.
- A new company that will be in competition with long-standing franchises and agencies for nursing staff in the city and online.
- During the business’s early stages, we were unable to keep our highly skilled and experienced staff for as long as we would have liked.
- The rising senior population is putting a strain on the current healthcare system hence an increase in the demand for nurses.
- Online market, new services, new technology, and of course the starting of new markets.
- The entry of a new nursing staffing agency into our market
- Uncertain economy
- Issues with liability
- The government may decide to impose stringent rules that would choke off new businesses like ours.
b. How Do Nursing Staff Agencies Make Money?
Essentially, nursing staff agencies earn money (commissions) by conducting recruitment for hospitals, clinics, companies, and organizations.
c. Payment Options
- Paying in cash
- Credit card payments and Point of Sale devices (POS Machines)
- Online bank transfer payment
- Paying with a check.
d. Sales & Advertising Strategies
- Place advertisements in print (newspapers and magazines) and digital media channels.
- Sponsor pertinent neighborhood events
- Use social media sites like Instagram, Facebook, Twitter, YouTube, Google+, and others to promote your nursing staff agency.
- Install your billboards in prominent places throughout your city or state.
- Distribute your flyers and handouts to the desired locations.
- Place an ad for your nursing staff agency in the yellow pages and local directories.
- In the area where your nursing staff agency business is located, place our Flexi Banners in strategic locations.
- Make sure all your employees are wearing branded clothing, and brand all your cars with your company’s emblem.
a. How Much Should You Charge for your Service?
Nursing staff agencies don’t charge their clients but they operate based on commissions as agreed by both parties.
b. How Much Profit Do Nursing staff Agency Owners Make a Year?
It depends, but the available report shows that on average, a small to medium-sized nursing staff agency can earn anywhere from $70,000 to $120,000.
c. What Factors Determine the Amount of Profit to Be Made?
- The ability of the nursing staff agency (number of clients they are servicing per time)
- The nursing staff agency location is
- The nursing staff agency management philosophy
- The nursing staff agency operational strategy and business model
- Strategies for marketing and advertising that the nursing staff agency has implemented.
- How long the nursing staff agency has been open for business?
d. What is the Profit Margin of a Nursing Staff Agency Product/Service?
The profit margin of a nursing staff agency is not fixed; it will, to a significant extent, depend on the commission associated with the services. Please be aware that the primary source of revenue for nursing staff agents has changed from commissions.
e. What is the Sales Forecast?
- First Fiscal Year: $320,000
- Second Fiscal Year: $450,000
- Third Fiscal Year: $540,000
Set Up your Shop/Office
a. How Do You Choose a Perfect Location for Nursing Staff Agency?
- The demographics of the area, particularly in terms of the number of medical-related businesses
- The need for nurses in the area
- Resident purchasing power and area demographics
- The area is easily accessible.
- The area’s availability of hospitals and other related businesses
- The state’s or community’s local rules and regulations
- Parking, safety, traffic, and other factors
b. What State and City are Best to Start a Nursing Staff Agency?
- Las Vegas, Nevada
- Los Angeles, California
- Ponte Vedra Beach, Florida
- Dallas, Texas
- Green Bay, Wisconsin
- New York City, New York
- Seattle, Washington
- Salt Lake City, Utah
- Port Allen, Louisiana
- Rock Hill, Montana
- Atlanta, Georgia.
c. What Equipment is Needed to Operate a Nursing Staff Agency?
- CRM and staffing software
- Booking and software
- Computers and laptops
- Fax machine.
For a typical nursing staff agency, you should aim to hire a capable chief executive officer (you can fill this role), a human resource and administrative manager, an accountant, nursing staff consultants, and call center agents.
Launch the Business Proper
For you to be able to launch your nursing staff agency properly, you are required to be deliberate. Being deliberate means that you should organize an event or preferably an open house party for nurses and players in the healthcare industry.
With that, you will be able to interact with your target market in the community and they will be aware of the kind of services you are bringing to their community.
a. What Makes a nursing Staff Agency Successful?
- When starting your business, pick a nice location and workspace.
- A comprehensive range of services connected to nursing staff should be provided, and you should work with important stakeholders (give your customers options)
- Be methodical in your marketing and sales strategy.
- Encourage your nursing staff agency to use word-of-mouth advertising.
- Utilize every outlet, both online and offline, to advertise your nursing staff agency.
b. What Happens During a Typical Day at a Nursing Staff Agency?
- The office is open for the day’s work
- The walk-in areas, chairs, and tables are properly arranged
- Applications and screening of applicants are done
- Training and orientations are done
- Successful applicants are sent to companies that are required
- Administrative jobs are carried
- Reports are written and submitted to superior officers
- The business is closed for the day.
c. What Skills and Experience Do You Need to Build a Nursing Staff Agency?
- Excellent talent hunting and management skills
- Excellent customer services skills
- Excellent organizational skills
- Interpersonal skill
- Accounting and bookkeeping skills
- Business management skills
- Bargaining skill
- Work experience in a nursing staff agency
- Experience in managing people
- Experience in business administration.