The call center market is a fast-growing subsector of the IT industry. Many budding entrepreneurs start their careers here, knowing that it’s a flexible and fast-earning business. However, it can be challenging to create a call center business, especially if you have little to no experience. In this article, we will discuss the world of call centers and how to start one. Hopefully, this will be enough to make you weigh in on your decisions.
The Call Center Market
Call centers are fast-growing worldwide. Most of them are concentrated in Asia, but many can also be found in Europe, the US, and Latin America. Thus, call centers are considered to represent globalization, and rightfully so because this market represents how outsourced jobs can be more efficient in other countries. But you might ask yourself, how much is the market worth?
In 2020, the call center market was valued at a staggering $334 billion and was expected to grow to $496 billion by 2027. It is one of the most significant growth rates in the IT industry and one of its biggest subsectors. But what does this mean to entrepreneurs?
For many entrepreneurs, this means that there is money to be had in the call center market. However, what it means is that there is enough space for more businesses to start in this sub-sector and that there will be no lack of staffing anytime soon. It’s estimated that the sub-sector has nearly three million employees, and that number is expected to grow even more prominent for years to come.
Now that you have an overview of the call center market, how do you exactly start one?
How to Start One?
Choose Your Focus
Your focus will rely mainly on the services you offer and whether if you’re going to need an office or not. Virtual call centers are growing during the pandemic, and we suggest you join the industry in this way.
Physical Vs. Virtual Call Centers
Virtual call centers save entrepreneurs a decent amount of money because they don’t need to pay that much in utilities, especially rent. Rent costs businesses about 20% of their revenue every month. That’s a decent chunk of your earnings. However, it’s essential to know that an array of problems also plagues virtual call centers. One problem is that virtual centers tend to have demotivated employees. Other issues include the cost of equipment needed by employees, as some companies shoulder this cost.
Physical call centers are great once you’ve gotten yourself established in the industry. It’s a good transition once you’ve made a decent revenue stream and various companies are under your accounts. It’s a good way to expand into other countries and expand your business overall. We don’t suggest you start a physical call center directly, as the costs might be too much for you to handle.
Sign up With a Network Provider
Network providers will be at the heart of your operations. They will also cover most of your costs when operating, but they are essential when running a call center. When choosing a network provider, make sure you chose one that is a PBX service provider. This is to give your call center more call lines, fewer fees, and better calls.
Many call centers utilize this service, and you should, too, as it makes it so much easier for your employees to start calls and reroute them. The best part of it all is that this also makes your calls secure. So make sure to sign up with a network provider that offers this service for your company.
Create a Robust Recruitment Process
Call centers are all about recruitment. Without it, your company will cease to function. This is why you should create a robust recruitment process that balances quantity and quality.
It’s important to take into account that a decent chunk of your employees will be recruiters. These recruiters need to be compensated properly if you want them to function properly. Furthermore, consider having a referral program to increase the number of applicants you have at any given time.
A robust recruitment process can quickly propel your call center business into a success. However, remember that it’s all about trial and error and mix and matching different processes that other companies have tried before.
The call center industry is a fast-growing one. There is enough space for entrepreneurs to join, and those that succeed in the industry are rewarded with millions of dollars in revenue.
Starting a call center business can be tricky, but if you have a robust recruitment process and a great network provider, you can bypass most companies’ problems. By being patient, you can grow your call center company in no time.