In this FDD Talk 2015 post, you’ll learn the following:
- Section I – Background information on the Express Employment Professionals franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for an Express Employment Professionals franchise, based on Item 7 of the company’s 2015 FDD
- Section III – Presentation and analysis of Express Employment Professionals’ financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
- 2014, 2013, and 2012 average combined sales (flexible staffing sales and career placement sales) and average gross margin for domestic and international Express Employment Professionals units (territories) open more than 24 months
- 2014, 2013, and 2012 average franchisee share of gross margin and gross receipts (AAGM)
- number and percent of units that achieved at least $875,000 in gross margin and gross receipts in 2014, at least $850,000 in 2013, and at least $825,000 in 2012
Section I – Background Information
Started in 1983, Express Employment Professionals has grown into a major staffing agency that helps people find work and businesses find workers. With more than 700 locations in the U.S., Canada, and South Africa, Express Employment Professionals employs in excess of 450,000 people in all kinds of client businesses.
Its lofty and ambitious mission is to professionally market and provide quality human resource solutions through an international franchising network that profit our associates, customers, franchisees, corporate staff, stockholders and communities in which we conduct business.
The company’s vision is “To help as many people as possible find good jobs by helping as many clients as possible find good people.” The chain has already helped 5 million people find work since it was founded.
Headquartered in Oklahoma City, OK, the company generated $2.5 billion in sales. Here’s how the largest franchised staffing company (second-largest privately-held staffing company, fifth-largest employment agency overall in the U.S.) stays on top of the fast-growing staffing industry:
Leadership That Thinks Differently
When Bob Funk (CEO and Chairman of the Board) and Bill Stoller (vice chairman and executive council member) founded Express Employment Professionals back in 1983, they wanted to do business differently. They recognized that there’s more to business success than profits.
What they’ve built together is a culture of caring where helping people find good jobs creates a virtuous cycle of success for individuals, businesses, and communities.
Express Employment takes doing good seriously. The company recently announced, in conjunction with its franchise locations in MI, MN, IL, KS, OH, CO, and TN, the donation of $75,000 to seven different nonprofit organizations.
The support goes to organizations helping a variety of causes, from support services for veterans and their families to housing to community college scholarships for the disadvantaged.
Stimulating Leadership Development
More than embodying great leadership, the company hosts an annual leadership event to spark new thinking and leadership development efforts. Its most recent event, the 2015 Refresh Leadership Live Simulcast, featured entertainer Dan Aykroyd, motivational speaker and bestselling author Liz Murray, and retail giant Daymond John of ABC’s Shark Tank television program.
The Needed Know-How
After more than three decades in this business, CEO Bob Funk knows a thing or two about the jobs market. In fact, he’s probably one of the country’s leading experts with a finger on the pulse of what jobs are available, why they’re available, and what it takes to fill them.
In the end, he notes that there are only a few simple things to finding a job: “First you need integrity; second, a strong work ethic; and, third, you have to be able to pass a drug test.”
He claims he can find a job within 24 hours for any person meeting those qualifications. He should know – his company currently puts 456,000 people to work around the world. And he has developed the business model that allows the company’s franchised locations to operate smoothly.
Section II – Estimated Costs
- Please click here for detailed estimates of Express Employment Professionals franchise costs, based on Item 7 of the company’s 2015 FDD.