Employment Agency
At first look this sounds like a very ambitious project, but lets think about it for a minute. You don't need to buy any stock; you simply need to find people with specific skill sets to fill specified vacancies.
The key to this business is finding the vacancies, as it is hard to find people without any jobs to apply for. I realise that this is a very competitive industry and that there are some serious players in the market, but I also think there are niches to be filled here, and as a small (maybe even part time) player niches are your bread and butter.
Think about the niche you want to fill, do you have specific knowledge or experience in a specific niche industry? Do you have contacts in a specific industry? If the answer is no then are you in a specific demographic group? For example could you actively target a Gay market? What about a more mature market? Do you belong to any clubs or organisations that might attract a certain type of people? One example might be a boat club or sports car club where the participants are likely to be high flyers or maybe even more specifically in sales related careers.
If you don't see any specific niche that relates to you or those close to you then another option might be to look through the Yellow Pages. Look for the industries that advertise a lot, as they are the ones that are most likely to be booming, and therefore under resourced.
Once you have identified the niche that you want to work with you will need to find employers who are actively looking, or may be persuaded to actively utilise your talent pool. This business is actually more about the employers than it is about the employees. It is the employers who will pay you to find appropriate staff, and ultimately will come to you before they go to anyone else if you can consistently deliver.
Your charging structure will be important but it is not too hard to find out what other employment agencies charge for different job grades. You shouldn't be too cheap compared to the field, not should you over charge. A good rule of thumb is to be in the range above average but below the top players.
One of the first things that you will have to demonstrate is that you are able to supply the appropriate workforce. If you are targeting gay employers and offering to recruit top talent for them that also happen to be gay, then how do you plan to do this? Why do you think that you are able to do so cost effectively, and what experience do you have of doing this?
Don't get worked up about this, remember that you asked yourself many similar questions when deciding what niche to play in. If you are able to explain your active role in the gay community, how you have previously hired successfully from within this talent pool then you are halfway home. If you add that you are not looking for an exclusive contract, just the right to put candidates forwards then the chances are you will get a shot.
This approach will work most niche demographics, it may be that you are over 50 and looking to help other mature people to change career or to get back into work after a parenting break. Explaining how you fit in this part of the community and why you believe you have the contacts to help recruit appropriate people should be second nature to you before you approach any employers.
Try approaching high turnover businesses such as local supermarkets, even at the outset they may be prepared to work with you for a modest fee. If you are planning to work in a specialised industry then start by approaching HR people in companies that you used to work with, they may well be more sympathetic and should appreciate the contacts and knowledge that you can bring to the recruitment task.
Once you have an employer who wants you to find some people the fun really
starts. Depending upon your budget you can use any, or all of the following
approaches to market your position(s).
Word of mouth
Website
Local Newspaper/Local Radio
Direct approaches
Cash incentives
The best way to market jobs is to get people talking about them. When you are at your local hang out (bar, coffee shop, library etc.) and talking with your friends be sure to mention the types of people you are looking for. You will be amazed how fast word can get around. We are all supposedly connected through 6 degrees of separation, so someone you know probably knows someone, who knows someone who would be interested. Remember to tell everyone about your new business, specific roles, and of course give them your business card.
Building a website is almost as good as having a shop window for this type of business. If you are focussed locally then you have quite a good chance of being found by a search including your niche, your area, and jobs. Also by having your ¡§url¡§ on all of your business cards, notepaper etc. it is easy for your contacts to remember the web address and check in from time to time to see what is new.
Again if you are focussing locally then the local newspaper is a must, you may also want to use lifestyle magazines for your chosen niche group. C++ Programmer weekly, or the Saga holiday brochure for example. Radio may also be viable for higher ranking positions (which typically pay more) but you are unlikely to land these when you first start out. Also if you belong to a chat group, or Bulletin Board System (BBS) then don¡¦t be shy about letting people know what you do. Sometimes people will even state outright that they are looking for work.
Don't be afraid to ask people that you know directly whether they would consider switching jobs. You may be surprised that someone who looks happy and settled will often consider a move for reasons that you would never guess at without asking. Even if your immediate contacts say "no", don't be despondent. Ask them whether they can think of anyone who might be interested? This can extend your own contacts and may well help you find the person you are looking for.
Another approach that can yield great results is the directly mercenary approach. For example if you offer $100 to the person who finds you the right candidate (i.e. the one who gets the job) they have a lot more incentive to remember to "talk" to Uncle Joey than they would do without $100 on the table. You can make this offer to specific groups, or advertise it blatantly on your website. As long as the word gets out you should find your contacts much more willing to put candidates forwards.
There is a lot more to this business than I can capture in a short email, but there is no reason not to have a go.
Some Head-hunters pay a generous referral fee, and you may want to start by working with them on a freelance basis. Search under recruitment consultants, or executive search in your local area. E.g. <recruitment consultants, Taipei>.