Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services -- Ignore unavailable to you. Want to Upgrade?

To: CAPT.DAN who wrote (1291)	1/14/1998 8:46:00 PM
From: CO	Respond to of 27968

Dan, Yes I believe there are around 21 offices. If there was only one office, it would not be a David and Goliath transaction. Cheryl

To: CAPT.DAN who wrote (1291)	1/15/1998 12:36:00 PM
From: carolm	Read Replies (3) \| Respond to of 27968

Dan, Mike was clear that all their business was handled out the one office that took up the entire floor of the bank building and was handled by their 44 employees. I don't know what the source of the 21 office rumor. What he clarified to me was the nature of their business. They do not do temporary help or head hunting. They sell to an employer a service to handle the payroll, benefits administration, OSHA, taxes, etc. for all current and future employees. The employer does their own recruiting. They administer 3500-5000 checks each month out of their one office and have the capacity to double that business within one to one and a half years out of the same office. If you divide 60 million by that number you get an average yearly income of 12,000- 17,000 for each "employee". Most of the accounts he mentioned were blue collar and service industries like restaurants and telecom, to the figures make sense. Their marketing is primarily word of mouth referral. This saves the client money in administration staff, deposits, etc. Myriad charges a small fee and some of the difference in being able to bulk buy insurance and benefits. They have accounts in other states besides California and don't have to be in person to sign them up, most accounts are signed over the phone.