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

To: carolm who wrote (1351)	1/15/1998 1:32:00 PM
From: Redhead	Respond to of 27968

Carol, That is very interesting. Thank you. Redhead

To: carolm who wrote (1351)	1/15/1998 1:45:00 PM
From: Roo	Respond to of 27968

At an average annualized cost of say $30K/head, consider the savings to many companies (small and large) who would perhaps have an in-house payroll staff of 1-2 people even if they use an outside source (such as ADP) for processing. Then throw in an HR specialist or two to deal with benefits (health, dental, 401k, comp) management and administration and you can see where a savings can be had by outsourcing the whole operation (let's see, by this example that's 120K/year plus the cost of the payroll processing) Keep in mind that these figures are swags based on my experience in the northeast. I realize that income levels vary around the country, and 30K may not be "average" in many areas, and that companies employ more or less staff than I have described depending on all kinds of circumstances, so please understand that I write this as a way to illustrate the potential for savings rather than as a concrete figure. -R

To: carolm who wrote (1351)	1/15/1998 2:15:00 PM
From: Lurker	Respond to of 27968

Greetings All: From what I read Myraid makes money in 2 ways: (1)Charging a fee per employee My parents own a pet store with about 10 employees. All of us children have worked in the store. Not having a great a love for dog poop, I was the sibling that did the bookwork, including payroll, retirement accounts, and insurance. This usually took about 5 hours per week. Having a company like Myraid can be a good value. Let's say you pay Myraid a fee of $5 per employee per week and have 10 employees. You are paying them only $50 dollars and saving yourself 5 hours a week. Most small business people work a good 60 hours/week. So, those 5 hours are a big chunk of time that can be much more profitably spent hustling up new clients and serving your current clients. Even if Myraid charges $10 per customer per week, the business is still benfitted by using them. (2) The above is the probably the main way they earn money. A second way is by getting group rates for insurance. Often in a small business not everyone is insured. Many times only the owners are insured plus any employees that also relatives. Still, Myraid can probably get better rates for 500 than for 10. So, their contracts probably stipulate that Myraid gets to keep any difference between the 2 rates. Take care, everyone