How to Start a Third-Party Verification Business

Sep 23 05:50 2010 Kristie Lorette Print This Article


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Third-party verification companies offer an important service to employers. Verification companies complete extensive background checks on employment candidates to make sure that each candidate fits the company’s requirements for the position. The more sensitive the job expectations, the more carefully the company needs to verify the potential employee’s background. Background checks typically include such elements as driving history and a criminal background search, as well as credit and job history and even fingerprinting.

Supplies Needed:

Business license Computer Secure internet access

Instructions:

Step 1: Familiarize yourself with your state’s regulations for third-party verification companies. Contact the state insurance regulation office for more information. All states must comply with the federal Fair Credit Reporting Act for reviewing employee credit history. Individual states might also have separate rules regarding the types of verification that you can do for certain industries. Overstepping these regulations can be a violation of individual privacy and can result in a lawsuit against you and the employer.

Step 2: Purchase the verification software that you will need to run your company. Verification software compiles data from a variety of sources, including public records and credit history reports. Available verification software includes Accio Data and Personnel Automated Screening Software, or PASS. Expect to pay for the initial software – around $1500 – and then to pay for a monthly usage fee, anywhere from $200 to $500 or more.

Step 3: Focus your business on a specific area. In other words, advertise your services to certain types of employers: day care agencies, health care agencies, nursing homes, banks, and so forth. By specifying the industry, you can establish yourself as an expert in verification for these types of businesses and also narrow the searches that you have to do.

Step 4: Join a professional organization, such as the National Association of Professional Background Screeners. Professional organizations can keep you up to date with changes in software and legal requirements, and they can also help you in creating a network of contacts for expanding your business.

Step 5: Advertise your business by marketing your services within your chosen industry. Offer to provide employers with a free demonstration, or prepare a free seminar to show employers about the significance of employee verification. Provide free workshops to employers as well as employees to show them they type of information that verification companies can locate and the need for everyone to be familiar with what is in his or her records.

Tips and Warnings:

Be sure to have a secure internet line in order to complete your research and verification. An insecure line can result in confidential information being leaked – a breach of individual privacy and a risk of a lawsuit.

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Copywriter and marketing consultant, Kristie Lorette, is passionate about helping entrepreneurs and businesses create copy and marketing pieces that sizzle, motivate, and sell. She is also the author of Action Marketing: A Step-by-step Guide to Launch Your Business Marketing Plan. For more information, visit http://wp.me/ptLrh-1.

 

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Kristie Lorette
Kristie Lorette


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