Starting a Placement agency company in India requires a bit of know hows. When i started i thought starting a company legally is going to be very time consuming with lot of formalities. Because most of my friends asked how i started mu company and requested to write a post on how to start a consultancy company, i am writing this post.
I will be very straight forward and will write the points in steps for better understanding.
1. 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.
2. 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?
3. 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.
4. 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.
5. Starting as a sole proprietorship firm: If you are starting alone i recommend you to start as a sole proprietor, because its easy to start and total control is in your hands. There are not much formalities for this kind of firm, you just have to get a current account ready in your name and you are ready to do business. However, if you company turnover reaches 10 lakhs per year, you will have to register for service tax.
6. Open a current account in any Bank: Opening a current account is the most important part of business. If you are opening a sole proprietership 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 IDBI 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.
7. 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 for 3 months and monster is almost around Rs. 35,000 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.
8. You are ready to do the business. Just go ahead and start searching for clients.
Cheers 
tarun
- Aug 26th, 09
hi
i am not sure how to meet the prospects & source contracts & business.
what should i do to get new accounts
how to meet people
do they want their share also
so many doubts please help me my id is t_khanna@rediffmail.com
tarun
- Aug 26th, 09
how to source business and get clients
Sivakumar
- Aug 26th, 09
hai
How to conduct and how to meet the claints,companies??
Please mail me: bell.systems@yahoo.co.in
Rayees Mohammed
- Aug 30th, 09
Hii
I think i got a well understanding of how to start off a consultancy firm, but not sure of how to approach the clients and get the business from them. Please email me to aman_hubli@yahoo.com
sangita
- Sep 1st, 09
approaching and converting a client is a difficult task. Watch out for my next post on how to approach and convert a client.
Gurgaon Jobs
- Sep 1st, 09
Ya this is very helpful information thanks for providing such type of information but i still confused how to approch to client and from where money flows in to business.
Sailesh
- Sep 5th, 09
Great post. Very helpful.
Please continue the next version as how to contact clients.
I am eagerly waiting.
rohit nahata
- Sep 9th, 09
I AM DOING B.COM (H) AND STUDYING IN 3RD YEAR.I WANT TO OPEN HR CONSULTENCY IN WITH MY 2 OTHER FRIENDS IN KOLKATA FROM MID 2010.WHAT I WANT TO KNOW IS WHAT ARE THE LEGAL FORMALITIES TO BE COMPLETED BEFORE OPENING SUCH FIRM ?
I ALSO WANT TO KNOW ABOUT LEGALFORMALITIES WITH MY CLIENT’S AND THE CANDIDATES ALSO?
IS IT IMPORTANT TO Buy naukri or monster login AT INITIAL LEVEL OF STARTING BUSINESS?
Ashish Kumar
- Sep 19th, 09
I WANT TO OPEN HR CONSULTANCY IN RANCHI .WHAT I WANT TO KNOW IS WHAT ARE THE LEGAL FORMALITIES TO BE COMPLETED BEFORE OPENING SUCH FIRM ?
I ALSO WANT TO KNOW ABOUT LEGALFORMALITIES WITH MY CLIENT’S AND THE CANDIDATES ALSO?
IS IT IMPORTANT TO Buy naukri or monster login AT INITIAL LEVEL OF STARTING BUSINESS?how to approach the clients and get the business from them.
Please email me to
thaashish@gmail.com
Ramakrishna
- Sep 19th, 09
Its very nice and helful
Ramakrishna
- Sep 19th, 09
Kindly provide me your contact no for more queries,thanks
Nagaraj
- Sep 22nd, 09
Thanku very much for the details.But even then lots & lots of doubts are there for me to get clarified.Few are
1.How to approach the clients?
2.Do we need a seperate work space or we can do online from anywhere?
3.what other basic things needed to start this business?
ceejay
- Sep 24th, 09
thanks a lot for this information but kindly help me further for the formalities to em panel with clients.
i shall be really grateful.. Ceejay
Bashur
- Oct 13th, 09
Nice Information…But need More about Clients and what are the commitments we will give to Clients…please post…
ple help
- Oct 13th, 09
Sir
i want to start servicese type business in whoich i cannot understand that without registration how the client come to now u , if u have no REG ID , is this possible to open such firm Without registration , ple provide me proper address where to register the name in india (noida)up
Neha
- Oct 13th, 09
good post . do u have a sample presentation to approch the clints.
neha.umbria@gmail.com
Ramesh
- Oct 17th, 09
Great work. I got all these information from a Chartered Accountant. But you saved the time for all these upcoming entrepreneurs. Keep up your good work.
FYI:
Naukri ( 1 year) – 1.2 lacs ( Still negotiable)
Sandeep
- Nov 20th, 10
Call me on 9313147924 for further details.
Raj Mumbai
- Oct 26th, 09
I WANT TO OPEN HR CONSULTANCY IN RANCHI .WHAT I WANT TO KNOW IS WHAT ARE THE LEGAL FORMALITIES TO BE COMPLETED BEFORE OPENING SUCH FIRM ?
I ALSO WANT TO KNOW ABOUT LEGALFORMALITIES WITH MY CLIENT’S AND THE CANDIDATES ALSO?
IS IT IMPORTANT TO Buy naukri or monster login AT INITIAL LEVEL OF STARTING BUSINESS?how to approach the clients and get the business from them.
Please email me to
spsp17@yahoo.com
rajendra lal
- Oct 28th, 09
thanks 4 such a wonderful knowledge, i belongs to rural area i want to open recruit agency,is it compulsory to buy naukri or monster,plz suggest any other who r in cheap or free .thank u
ANKUR AGARWAL
- Nov 3rd, 09
Nice piece of information. miningjunction.com welcomes all indian young entrepreneurs. Get registered for free and get access to jobseeker database at cheap prices
Lawrence
- Nov 3rd, 09
Please let me know.
Should we have any contract with the client?
Please give any other option rather then naukri and Monster with limited cost Or free subscription.
ANKUR AGARWAL
- Nov 3rd, 09
Get registered with miningjunction.com as a member absolutely free of cost and get access to jobseeker database. you can get the CVs at low prices.
Davinder
- Nov 7th, 09
Its gud.I also want to start job placement.Would anybody plz guide me. Contact me on singh.davinder29@gmail.com
Chitra
- Nov 13th, 09
Have got an idea on how to start? But need support in proceeding further on how to meet corporate clients and their expectations???
Chitra
- Nov 13th, 09
What say you?
mamta
- Nov 14th, 09
Thank you so much for sharing the above info, it’s really kind of you. I had few question, It would be great if you could spare some more time in solving it. What is the future of the placement company.How to source business and get clients, what are the legal formalities with my client’s and the candidates also? On which website should I invest – naukri or monster
Sunil Bhalla
- Nov 26th, 09
wonderful.
Thanks for sharing.
I am also planning to start my own consultancy firm. I was lost and filled with some unknown fear. You showed me the way. Wish i could talk to you.
God bless you.
Sunil Bhalla
- Nov 26th, 09
I also have similar questions that mamta and others asked you.
What is the future of the placement company? How to source business and get clients, what are the legal formalities with my client’s and the candidates also?
Please help and guide us.
my email id is: sunil17march@hotmail.com
I would also like to talk with others who are planning to start new consultancy business in Delhi. Let help each other.
My Mobile no: 9810087617
Sangita
- Nov 27th, 09
Dear Readers,
Thanks for visiting to my blog and giving your precious time .it really motivates and inspire a lot to me to share more of my experiences. I get lot of queries regarding how to make clients and about legal formalities required in opening Hr consultancy. I will post about it shortly.
Once again thanx for your support.
Regards
Sangita
Raviraja
- Aug 15th, 11
Hi Sangitha,
Thank you so much for your valueble tips to all through your blog,
I need to your suggestion, could you please give me contact number or mail id please,
Thanks and Regards
Raviraja
Name (required)Anupama
- Nov 28th, 09
Hi
‘your information was good
want to know how to get the clients how should i approach them
Raveena Chavan
- Dec 7th, 09
Hi,
I have aconsultancy frim in Pune. I need freelancers/Partners to source candidates for various companies. I have companies, but not able to get candidates in good numbers. Those interested can mail me at itechbs@gmail.com. We can share the income.
Lawrence
- Dec 10th, 09
please suggest some of the website ,where we can source profile with a free of cost ,,,,,
Subramaniam Konar
- Dec 15th, 09
really appreciate your sharing of knowledge in starting the consultancy firm.
J. Sebastian
- Dec 18th, 09
I WANT TO OPEN HR CONSULTANCY IN MADURAI (TAMILNADU).
WHAT I WANT TO KNOW IS WHAT ARE THE LEGAL FORMALITIES TO BE COMPLETED BEFORE OPENING SUCH FIRM.
PLEASE EMAIL ME
sebastianjeba@gmail.com
MY MOBILE NO: 9962806941
Jai
- Dec 22nd, 09
Thks for the information,it wld be vry useful.for those who want to start in mumbai can email me for tips for goin abt.
sam
- Dec 24th, 09
I want to start a placement/recruiting firm in Mumbai Suburbs as a SOLE PROPIETARY firm.
Suppose I keep my firm name ABC …
Do In need to register ABC in the local BMC office under shop and establishment act..?
I have my clients ready…My total placement would be on the internet through email.
Can I open a current account for ABC without registering my company in BMC.
I have got my letter heads and stamp ready with me..Please suggest….I can also be reached on 9930671598.
Thanks
Sam
Subramaniam
- Dec 26th, 09
Hi, can anyone tell me if any franchise model is available for the HR consultancy? if yes,.Thanks to forward me the details on skonar_1984@yahoo.co.in
MANDAR
- Dec 27th, 09
hello,
very thanks for information you provide.
but i have a doubts,
1) How to meet the claints,companies??
2) Is clients / companies charge us like security deposite or anything…???
plz. let me know
E-mail : pat.mandar@gmail.com
thanks.
Anish
- Jan 4th, 10
I am wishing to start placement firm and target initially targetting the pharma sector. How I can find potential clients and how I can approach them and get business from them?
Somewhere I heard that it is better to get clients first and then register to naukri.com for portal. Why it is so? Pls explain.
Shaik
- Jan 4th, 10
Hi,
I WANT TO OPEN HR CONSULTANCY IN Chittoor (Andra pradesh).
WHAT I WANT TO KNOW IS WHAT ARE THE LEGAL FORMALITIES TO BE COMPLETED BEFORE OPENING SUCH FIRM.
PLEASE EMAIL ME
durbar.shaik@gmail.com
VIJAY KUMAR
- Jan 7th, 10
hi
i am not sure how to meet the prospects & source contracts & business.
what should i do to get new accounts
how to meet people
do they want their share also
so many doubts please help me
Ashish kumar singh
- Jan 10th, 10
I AM DOING M.COM (H) AND STUDYING IN 1RD YEAR.I WANT TO OPEN HR CONSULTENCY IN WITH MY 2 OTHER FRIENDS IN KOLKATA FROM MID 2010.WHAT I WANT TO KNOW IS WHAT ARE THE LEGAL FORMALITIES TO BE COMPLETED BEFORE OPENING SUCH FIRM ?
I ALSO WANT TO KNOW ABOUT LEGALFORMALITIES WITH MY CLIENT’S AND THE CANDIDATES ALSO?
IS IT IMPORTANT TO Buy naukri or monster login AT INITIAL LEVEL OF STARTING BUSINESS?
VIJAY KUMAR
- Jan 11th, 10
I AM WORKING IN A PRIVATE COMPANY AS SALES EXECUTIVE IN DELHI .OPEPNING A HR CONSULTANCY IS MY DREAM PROJECT .I WANT TO OPEN HR CONSULTENCY WITH MY FRIEND IN PATNA FROM MID 2010.WHAT I WANT TO KNOW IS WHAT ARE THE LEGAL FORMALITIES TO BE COMPLETED BEFORE OPENING SUCH FIRM ?
I ALSO WANT TO KNOW ABOUT LEGALFORMALITIES WITH MY CLIENT’S AND THE CANDIDATES ALSO?
IS IT IMPORTANT TO Buy naukri or monster login AT INITIAL LEVEL OF STARTING BUSINESS?
Name (required)prajakt patil
- Jan 18th, 10
What say you?
Dear sir i am working with airhostess and hotel management institute as a manager.we have every year 100 student for hotel mgt.they looking for job or traning same for airhostess.that y we planing to star our own placemant agt.but we dont know were is th opening.for that how u can help me
Name (required)prajakt patil
- Jan 18th, 10
how to contact naukri or monster ?
hpkamath
- Jan 26th, 10
i want to start a placement for pharma/ marketing related jobs. what is the minimum actual cost incurred for that.what are the neccessary steps req to start it. how can get an information regarding the vacancies in the company.plz answer all the queries and contact me on my mobile number 9833441471 and if possible plz send me a mail on my email- id regarding it.
Hitesh
- Jan 26th, 10
Very use full information .
Do u have a sample presentation to approch the clients.
Can u please inform us how a counsultancy firm charge to a customer
DEVENDRA CHOUDHARY
- Jan 26th, 10
i m MBA in HR, i wanna open a H.R. workshop with placement consultancy in ghaziabad, i wanna know about registration of such kind of firm, plz reply me as soon as possible, i shall be highly oblized to you.
thanks
surai
- Jan 27th, 10
How to do tie-up with clients?
How to make proposals?
surai
- Jan 27th, 10
What say you?