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Express Employment Professionals Helps Solve Small Business Lending Challenge
Staffing Firm to Give $30K to First 30 Franchisees of 2013
By: PR Newswire
Jan. 10, 2013 12:59 PM
OKLAHOMA CITY, Jan. 10, 2013 /PRNewswire/ -- Express Employment Professionals, the No. 1 staffing franchise and the largest privately-held staffing firm, is on a mission to start new small businesses and to put one million people to work annually.
To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/express-employment-professionals-helps-solve-small-business-lending-challenge-186331162.html
And to create these business opportunities and approximately 18,000 more jobs, the company is giving its first 30 new franchisees this year $30,000 each in working capital.
"This offer is unique to the franchise community, and is reflective of the Express commitment to ensure successful franchisees," said David Lewis, vice president of franchising. "$30,000 can significantly help a new owner ramp up faster and offset the investment with additional staff, allowing us to help our franchisees reach breakeven as soon as possible."
Despite an improving overall franchise climate, lending was still down in 2012, resulting in startup challenges for new franchisees from underwriting to securing funds. According to the International Franchise Association's Educational Foundation, franchisees sought $11.72 billion in lending capital this year, but banks supplied only $9.5 billion. The "30 for 30" initiative is designed to allow new franchisees to get their businesses running faster despite the lending crisis.
"Business owners in this climate cannot wait three months for approval. They want to get started in business quicker so they can reach their financial goals," Lewis said.
Earlier this month, New Brunswick, N.J. resident Jim Puliafico was the first franchise owner to sign with Express in 2013 and was awarded the $30,000 in working capital on Thursday, Jan. 3. He plans to open his office in Freehold, N.J. in April.
"I was looking for a company to meet my goals and a business opportunity where I could help people in New Jersey," Puliafico said. "Express will no doubt help me achieve my personal goals while providing me an opportunity to put people back to work."
Staffing services are in high demand and Express is expanding to meet the increasing need among employers for flexible staffing. The company plans to add 48 additional locations in 2013, targeting strategic markets in 30 states and Canada. Key areas for growth include Michigan, California, and Massachusetts among others.
"With employment up and more businesses using staffing companies, the market is going to double during the next 10 years," Lewis said. "We recognize the need to open new offices to meet the demand."
The staffing company was founded in 1983 and began franchising in 1985. Express has consistently maintained a 98 percent approval rating from franchisees on the quality and opportunity of the Express system. The average Express territory generates annual sales of $4.5 million.
Express was named the No. 1 staffing franchise in the U.S. by Entrepreneur as part of the magazine's Franchise 500 list in 2013 and was ranked No. 49 on the 2012 Franchise Times Top 200, the magazine's annual list of the top performing franchise systems in the country. Express was the highest ranking staffing franchise.
Express franchise owners come from a variety of backgrounds including sales, management, human resources and finance. Individuals interested in becoming an Express franchise owner can check out a virtual tour at www.ExpressFranchising.com or call (877) 652-6400.
With 600 offices in three countries, Express Employment Professionals helped an estimated 400,000 people find jobs in 2012, providing expertise in evaluation hire, temporary staffing, professional search and human resources.
The company provides expertise in evaluation hire, temporary staffing, professional search and human resources. Express focuses on a wide range of positions, including professional, commercial and administrative. For more information about Express and its services, visit www.expresspros.com.
EXPRESS EMPLOYMENT PROFESSIONALS
Media Contact: Sanderson & Associates, Ltd.
SOURCE Express Employment Professionals
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