HOW TO START A RECRUITMENT CONSULTANCY/AGENCY IN HYDERABAD / INDIA

HOW TO START A RECRUITMENT CONSULTANCY/AGENCY IN HYDERABAD/INDIA

Planning to start your own recruitment business in india? Then you must know few basics to set up a recruitment consultancy. Recruitment is a very vital activity in any sector these days. Generally an organisation or company who find a suitable candidate for your vacant position called as a recruitment Consultancy. And this is surely a needy  business in the current market for last couple of decades. 

Now, There are many consultancies already operating in the market to provide recruitment assistance to companies. And over the years this sector has grown big in such a way that you have many competitors.

How to Set Up a Recruitment Business :

Before you prepare your start up recruitment agency business plan, you need to analyze the business potential first. If want to research about the scope of business in this recruitment sector, then you will find that there are huge scope although high competition.Most of the companies need many resources not only due to new business expansion but also due to high attrition rate (job switching rates) in India.  So in this regard you can say it’s an evergreen business niche and you can expect a good demand always.

Who can Start a Recruitment Consultancy

Basically if you have enough money to invest, then you can start any business with the help of experts. Many people want to know about starting a recruitment agency with no experience. You must keep in mind that, one needs to have some basic knowledge about the recruitment process generally followed by all organisations.

Decide a name for your company: 

Deciding name for the company is very important as this is the brand for which you will be working for the rest of your life. You should like the name and you should be able to relate yourself to the company.

Buy a domain name: 

You should buy a domain name for your company. Its compulsory because no body would trust a company who doesn’t have a good website and domain name is very important for having a website. Domain names are cheap around Rs. 450 /year and you can register a domain easily from this link and you can even check whether you company name is available or not  by clicking this link?

Get your website Designed and Hosted: 

Next step is to get yourself a professional website design for your company. Designing could start from Rs. 7000 but i would recommend you to invest a little in website designing and hire a professional website design company . Professional design could cost you starting from Rs. 15,000 and basic Hosting for your website could cost you around Rs. 1000 per year.

Choose the type of company you want to open: 

Deciding which type of company you want to open is something which you have to do. There are 4 types of company which you can form in India.

• Sole Proprietorship : A sole proprietorship also known as a sole trader, or simply proprietorship is a type of business entity which is owned and run by one individual and where there is no legal distinction between the owner and the business. All profits and all losses accrue to the owner . All assets of the business are owned by the proprietor and all debts of the business are his debts and he must pay them from his personal resources
• Partnership: A partnership is a type of business entity in which partners (owners) share with each other the profits or losses of the business. Partnerships are often favored over corporations for taxation purposes, as the partnership structure does not generally incur a tax on profits before it is distributed to the partners
• Private Limited: A private company is a type of company incorporated under the India. It has shareholders with limited liability and its shares may not be offered to the general public, unlike those of public limited companies
• Public Limited: A public limited company  is a type of limited company in the India which is permitted to offer its shares to the public.

Open a current account in any Bank: 

Opening a current account is the most important part of business. If you are opening a sole proprietorship firm and have your service tax registration done, you can open account in any bank you want. But if you have not applied for service tax registration, you can opt for government banks to open the account. You can look for ICICI bank as opening current account is quite easy in that bank. For opening a current account you will need a company letterhead, Visiting card, and company stamp.

Setting up your Own Recruitment Firm with Equipment:

Set up your workspace with your desktop or laptop. Take a new mobile number and also a land line number (if you can afford) to handle your daily calls. Analyse and choose a good talk time plan as well. Update both the numbers in your website. Install all required software’s to your computer like MS office, mail server software etc. Create few email IDs with your business domain. Like contact_hr@mycompany.com.

Buy naukri or monster login: 

You  have to buy naukri or monster login to supply candidates  to your clients. This is the costly part of consultancy business but you have to  buy this to get started. Naukri login costs around Rs. 60,000(varies) for 3 months and monster is almost around Rs. 35,000,(varies )for 3 months. You can buy it anytime but i recommend you to buy it once you get your first client. Don’t forget to negotiate as who knows you can get a better deal.

Recruitment Firm Marketing Strategy and Business Development Plan:

Next thing is to spread your business and get more and more clients, so just work hard to get better & better. Try to communicate with company HR;s and offer them your business proposals. Use social media websites like LinkedIn, Facebook to spread about your company and connect with people of similar industry to grow your network.

You need a good marketing strategy for staffing agency. Also work hard to get clients to run your business smoothly and grow further. The biggest skill required is the networking and convincing skills. The more contacts you have the more the scope of clients you can arrange, means more business.

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