Buying a staffing firm in Southwest Florida

• A spread of clients, with no single client dominating hours billed. Losing one big warehouse account can erase a year's profit.
• Gross margins that hold up when clients renegotiate or put the work out to bid.
• Long-standing clients with written agreements covering rates, payment terms and who is liable for what.
• Few workers' compensation claims and a real safety program for placed workers, which keep premiums down.
• Recruiters with a deep pool of workers, tracked in a proper applicant system rather than in someone's phone.
• Clients that pay on time, with little bad debt.
• A specialty with skilled workers, where clients pay more for the firm's ability to find people.

• Workers' compensation: the job classifications used, claims history, and the experience rating (a score based on past claims) that sets the premium. Make sure placed workers are classed for the work they actually do.
• Payroll taxes. Taking over more than half of a business or its assets can make you liable for the seller's unpaid Florida taxes, including reemployment tax (Florida's unemployment tax), unless you get a certificate of compliance from the Department of Revenue first (section 213.758). A buyer that carries on the business can also take over the seller's reemployment tax record and rate, good or bad (section 443.131).
• How much depends on the biggest clients, and contract terms on who pays for accidents at client sites.
• How long clients take to pay, and any factoring agreements that must be paid off at closing.
• I-9 forms and E-Verify records.
• Overtime and wage compliance, and the risk when clients direct the work.
• Agreements with recruiters and account managers, including non-solicitation terms.

• Who are your five largest clients, and what share of gross margin do they produce?
• What workers' compensation claims have you had in the last five years?
• How do you fund payroll before clients pay?
• Do any clients use you for their whole workforce rather than temporary help?
• How would you find 20 workers if a client needed them next week?
• Which client relationships depend on you personally?
• Have you had any wage, tax or immigration audits?

This region covers Lee, Collier, Charlotte, Sarasota and Manatee counties on the Gulf coast and Hendry, Glades and DeSoto inland: Fort Myers, Cape Coral, Naples, Bonita Springs, Punta Gorda, Port Charlotte, Sarasota, Venice, Bradenton, LaBelle, Clewiston, Moore Haven and Arcadia. The coastal economy runs on people who choose to live or spend the winter here: retirees, seasonal residents, and the construction, real estate, health care, financial and home services that follow them. Tourism, golf and boating add to it.

Inland, the economy is agricultural: sugarcane around Clewiston, citrus, cattle and vegetables, with Immokalee in Collier County a center for farm work. The building trades, pool, landscaping and pest control companies, property managers, medical and dental practices, and marine businesses tend to do well along the coast.

This is one of Florida's most seasonal markets. From roughly January through April, restaurants, shops and service companies run at full speed. Summers are slower, so look at monthly revenue, not only the yearly total. The coast has taken two major hurricanes in recent years: Ian came ashore at Cayo Costa in Lee County in September 2022, and Milton at Siesta Key in Sarasota County in October 2024. Rebuilding brought a wave of work for contractors that won't last forever, so ask how much recent revenue came from storm repairs. Insurance costs and flood zones weigh on every property.

Housing costs near the coast make hiring hard, especially around Naples. New communities east of Interstate 75 in Lee, Collier, Charlotte and Manatee keep service companies busy.