Express Employment Professionals Franchise
Franchising is one of the best methods to get into the entrepreneurship world and not face the risks of building your own brand. Through franchising, you can buy an already established brand with high brand awareness and a successful track record. One of the most popular options for this is Express Employment Professionals.
Express Employment has been franchising for at least four decades, with over 800 outlets across several countries. If you are considering having an Express Employment Professionals franchise, you might wonder if they are a good fit for your goals and plans. In this article, we will discuss everything about their franchise and see if it would be a good idea for you to have an Express Employment franchise.
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Express Employment Professionals Franchise Wiki
Express Employment Professionals is a global staffing company offering both temporary staffing and direct hire services. They were founded in 1983, and they are offering services internationally in several countries in addition to its headquarters in the United States. They employ hundreds of thousands of people globally and have about 850 outlets, all of which are franchise branches.
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They are one of the most known global staffing agencies, helping people find all types of jobs, from part-time to temporary filling positions. Entrepreneur Magazine ranked them as the number one top staffing franchise for nine consecutive years. Their mature offices make about $6 million in topline sales altogether annually.
Express Employment Professionals History
Express Employment Professionals started to franchise in 1985, only 2 years after they were founded. They now have over 850 outlets across several countries. Over the course of the years of their franchising, they managed to have a proven track of success for their franchisees. They averaged $6,000,000 in sales in 2021 per mature franchise branch. Their first-year offices averaged $900,000 in sales in 2021 per franchise branch.
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Between 2006 and 2022, Forbes named Express Employment Professionals as one of the Entrepreneur Franchise 500 companies. They are also in Forbes’ list of Best Franchises to Buy. In addition, they are one of the largest staffing firms in the world.
Express Employment Professionals Franchise Benefits
- Monthly regional meetings with other owners to help discover best practices
- Leadership conferences available for your staff to attend to further their development and drive success in the business
- Annual conferences to help drive further education
- Monthly in-person meetings
- Strategic development and problem-solving
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Express Employment Professionals Franchise Financial Assistance
Express Employment offers partial financial assistance and not direct or indirect comprehensive assistance to prospective franchisees. This means that the franchisees have the option to purchase computer systems and upgrades from the franchisor. You can purchase them either by cash or through financing if the option is available at the time.
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There is no additional direct or indirect financial assistance for the purchase, lease, rent, operation costs, or anything similar. It’s up to the franchisee to find the necessary financial means to purchase the franchise branch.
Express Employment Professionals Franchise Cost/ Investment / Price / Fee
Opening an Express Employment Professionals franchise has both fixed and variable costs. The fixed cost is only the franchise fee, which is $40,000, and you pay this in a lump sum right away when you sign the contract. The rest of the fees are variable, depending on the size of your branch, the number of employees, equipment, and so on.
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According to the estimations, you can expect to spend as high as $100,000 for equipment, training costs, hardware, supplies, insurance, and similar things. The rent and the costs for the employees vary quite a lot, but the rest of the initial investment generally goes to these two, meaning you can spend as high as $120,000 for them.
Express Employment Professionals Franchise Requirements
To get approved for an Express Employment Professionals franchise, you need certain financial requirements and preferably some professional experience. If you can’t satisfy the financial requirements, you will be rejected for the rights to open their franchise. On the financial requirements side, you need to have a net worth of at least $250,000 and have access to at least $190,000 liquid capital. The liquid capital could be in cash, 401K, or a home equity loan.
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On the professional side, there is no set amount of experience you need in the industry or in any area in your professional background. This means that you can get accepted even without any experience in any industry. Still, your chances won’t be as high as someone with the experience. According to the information on their website, they are looking for mostly sales-oriented people, which means a sales experience will be a huge benefit.
Express Employment Professionals Franchise Training And Support
Once you get approved for a franchise, you will need to undergo certain training by Express Employment Professionals. This training prepares you and your employees to give the same excellent service as every other Express Employment Professionals branch. It is mandatory to attend the training and get the certification.
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The initial training program is on-the-job training for up to one week in Oklahoma for 40 hours, or it could be virtual with the approval of the franchisor. Then, you will have to attend two weeks, 80 hours, of classroom training in the franchisee’s office or virtually with the approval of the franchisor. Both of these training focus on how to operate a branch and give the services of Express Employment Professionals.
Express Employment Professionals Franchise Obligations And Restrictions
When you are a franchisee of Express Employment Professionals, you need to follow certain obligations and restrictions to meet the franchise agreement’s requirements. The first thing is that franchisees must actively be involved in the daily operations of the franchise branch. This means that as the franchisee, you must be actively present in the branch daily to oversee the operations.
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Additionally, the store must have at least three internal staff according to the current manual. These three staffs are a sales representative, a staffing consultant, and a front office coordinator. You also must run the franchise branch in accordance with all the standards, rules, specifications, and methods that the franchisor has set in the manual.
Express Employment Professionals Franchise Terms Of Agreement & Renewal
When you sign the first franchise agreement with Express Employment Professionals, the term of the agreement will be for five years. On average, with most franchises, it’s either five or ten years, and it’s not less or more. You get to keep the name of Express Employment, and it’s right to franchise for five years initially.
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After the first period, you will have the option to renew again for another five years. You can renew your contract if you meet all the requirements and Express Employment Professionals is happy with you. If not, they have the option to deny the renewal. There are also no renewal fees, meaning you don’t have to pay again when you renew your agreement.
Express Employment Professionals Franchise Profit
Franchise revenue depends on a wide range of factors, as does profit. How much money you can make from any franchise depends on a number of specific factors such as franchise location, labor costs, commercial lease rates and a number of other factors.
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How to Apply For Express Employment Professionals Franchise
To get the franchise first you have to fill the form. Then the company officials will contact you for further details. After that you you can open this franchise.
Contact details
Website
Conclusion
Express Employment Professionals is one of the biggest staffing companies in the world, with operations in many countries with over 800 outlets. At least four decades of franchising experience makes everything easier for the new franchisees, and it is easier to succeed. In addition, their industry is not a complex one that requires previous experience to run the branch.
All this combined, it is obvious that Express Employment is a good choice for those looking to enter into the franchising world and wants to own their branch. Their costs, both the initial fee and the initial investment required, are also not too high, which makes it even easier to enter financially.
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FAQ (Frequently Asked Question)
Is Express Employment Professionals Franchise profitable or not?
Ans: It is fast moving products, so there is fewer margins but your sale is too high. So, obviously you can make more profit from this business.
Who Is The CEO Of Express Employment Professionals?
Both the founder and the CEO of the company are William H. Stoller.
How much does it cost to open Express Employment Professionals Franchise?
Opening an Express Employment Professionals franchise has both fixed and variable costs. The fixed cost is only the franchise fee, which is $40,000, and you pay this in a lump sum right away when you sign the contract. The rest of the fees are variable, depending on the size of your branch, the number of employees, equipment, and so on.
According to the estimations, you can expect to spend as high as $100,000 for equipment, training costs, hardware, supplies, insurance, and similar things. The rent and the costs for the employees vary quite a lot, but the rest of the initial investment generally goes to these two, meaning you can spend as high as $120,000 for them.
Are There Better Franchises Than Express Employment Professionals?
Depending on your personal experiences, financial strength, and goals, there could be better options out there. Express Employment provides an easy way to make a profit even from your first year, but if you have experience in a niche industry, a franchise from that industry could be a better fit.
Can I Make Sure To Make A Profit From My Express Employment Professionals Franchise?
Just like running any kind of business, there is no guarantee that you will make a profit. Even though the name of the Express Employment Professionals brand helps you to get customers faster, it’s still up to you to manage the daily operations successfully and keep your existing ones and get new ones as you go.
Is Express Employment Professionals Franchise a Franchise?
Yes, a franchise.
Disclaimer: The information given in this article like investment may vary from place to place, so we are not sure about the investment part and other parts also.
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