NEO Ernst & Young Entrepreneur of the Year
Joel E. Adelman
founder and CEO
The Advance Group of Companies
In 1998, Joel E. Adelman established The Advance Group of Companies, which is dedicated to providing entrepreneurial staffing companies with the opportunity to flourish and grow. Advance not only provides capital funding to its clients, it also provides various back office services that include information technology, payroll and tax, and recruiting/search software.
Based on his experience and knowledge, Adelman, who is founder and CEO, intended to establish a business selling consumer products. However, his exposure to payroll services at a national staffing convention led him to uncover an underserved market. This fueled Adelman’s passion, and he became determined to create a new solution for the staffing industry.
Adelman combined several different services into one business, developing a company with few direct competitors. Advance offers entrepreneurs all-inclusive services and support.
The company recently introduced a new service, Workforce Solutions, which matches the demand and supply of labor. Adelman once again identified a need in the market and discovered a manner in which to capitalize on it, bringing together small and midsize staffing firms and introducing them to Fortune 500 consumers in need of their services.
As the largest independent provider of funding and leading provider of solutions for the temporary staffing industry, Advance has grown steadily. As to be expected, the company’s revenue declined during the recession. However, Adelman’s foresight and management decisions allowed the company to enhance its earning potential by expanding its service offerings.
When the economy began to improve and the demand for staffing escalated, Advance grew at 25 percent. Advance has maintained that 25 percent growth rate for the past three years and forecasts that it will continue to grow at this rate.
Adelman’s one-of-a-kind business offers fellow entrepreneurs an opportunity to realize their aspirations via technological and monetary support. As a result of his innovative and unique offerings, the supply of labor better matches the demand.
How to reach: The Advance Group of Companies, www.advancepayroll.us