HireQuest

What HireQuest does

HireQuest is a publicly traded national franchisor (NASDAQ: HQI) of on-demand staffing and direct-hire recruiting services, headquartered in Goose Creek, South Carolina. The company's operations trace back to the 1951 founding of the Snelling staffing brand, with the current corporate structure consolidated under HireQuest, Inc. Through a portfolio of brands including HireQuest Direct, HireQuest Health, Snelling, TradeCorp, DriverQuest, and (until Q1 2026) MRINetwork, HireQuest franchises independently owned staffing offices serving construction, healthcare, manufacturing, finance, cybersecurity, engineering, and logistics/logistics clients across 100+ local markets in the U.S. and internationally. Corporate headcount is reported at 51-100 employees, reflecting the asset-light franchise model. The corporate entity maintains a debt-free balance sheet and pays a $0.06 quarterly dividend alongside a $20 million share repurchase program authorized in December 2025.

HireQuest's revenue model is built on franchise royalties: the company retains a small percentage (approximately 6-7%) of system-wide sales generated by its franchise network. Q1 2026 system-wide sales totaled $102.6M against only $6.5M of corporate revenue, illustrating the franchise leverage. FY2025 corporate revenue was $30.6M with $6.3M net income (~21% net margin). The company pursues growth through acquisitions of regional staffing firms (TEC Staffing Services in 2023, Northbound Executive Search in 2022, Recruit.com in 2021) and an attempted $105M unsolicited bid for TrueBlue's PeopleReady On-Demand segment in May 2026 (rejected). In Q1 2026, HireQuest divested majority ownership of MRINetwork to a franchisee-led entity, completing a strategic restructuring to refocus on core blue-collar, light industrial, and administrative staffing segments.

Name

HireQuest

Legal name

HireQuest, Inc.

Website

https://hirequest.com

Company type

Public

Founded year

1951

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

HireQuest is a publicly traded franchisor (NASDAQ: HQI) of on-demand staffing and direct-hire recruiting services, operating brands such as Snelling, HireQuest Direct, HireQuest Health, TradeCorp, and DriverQuest across 100+ U.S. and international markets. It earns revenue primarily through franchise royalties on system-wide sales generated by independently owned offices.

Ownership category

akta.pro rank

Product category

Temporary and Direct-Hire Staffing Services

NAICS

Employment Placement Agencies (561311), Temporary Help Services (561320), Employment Services (5613), Employment Placement Agencies and Executive Search Services (56131)

SIC

Services-Employment Agencies (7361), Services-Help Supply Services (7363)

akta.pro primary industry

Contingent Workforce / Contractor RPO (Contractor Recruiting) (BPACABAK)

akta.pro secondary industry

Administrative, Clerical & Office Support Direct Hire (BPACAFAF)

Keywords

• Temporary staffing services
• Franchise staffing network
• Direct-hire recruiting
• Executive search services
• Light industrial staffing

Headquarters

HQ city

Goose Creek

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Franchise Royalties: HireQuest operates as a franchisor, generating revenue through royalty fees from franchise owners. The company earns royalties based on system-wide sales generated by its franchise network, which includes staffing and direct-hire operations across multiple divisions. Q1 2026 system-wide sales were $102.6 million, though the company retained revenue of only $6.5 million from these operations.
2. MRINetwork Executive Search Royalties: The MRINetwork division contributed approximately $65 million in system-wide sales and nearly $2 million in royalties in 2025 before ownership was transferred to a franchise-led entity in Q1 2026. This represents revenue from executive search and permanent placement franchise operations.

Pricing tiers

Distribution channels1 record

Core offering

HireQuest is a national franchisor of on-demand staffing and direct-hire recruiting services operating through a multi-brand franchise model. The company provides temporary, direct-hire, and contract staffing solutions across construction, healthcare, manufacturing, finance, cybersecurity, engineering, and logistics industries through owned brand divisions (HireQuest Direct, HireQuest Health, TradeCorp, DriverQuest) and acquired/specialized brands (Snelling, MRINetwork, Northbound Executive Search).

Product overview

HireQuest is a national franchisor of on-demand staffing and direct-hire recruiting services operating through a multi-brand franchise model. The company provides temporary, direct-hire, and contract staffing solutions across various industries including construction, healthcare, finance, manufacturing, cybersecurity, and engineering. The portfolio includes core divisions (HireQuest Direct, HireQuest Health), specialized brands (Snelling, TradeCorp, DriverQuest), and the globally-known MRINetwork for executive search. Following the MRINetwork ownership restructuring to franchise owners in Q1 2026, the company now operates with a decentralized brand structure while maintaining franchise operations across U.S. and international markets.

Differentiator

Problem solved

Functional benefit

Products and services

• HireQuest Direct The primary on-demand staffing division of HireQuest, providing temporary staffing solutions across various industries through franchise locations.
• HireQuest Health Healthcare-focused staffing division offering temporary and contract staffing for healthcare professionals and facilities to address healthcare staffing shortages.
• Snelling Staffing brand operating across more than 100 local markets, providing temporary, direct-hire, and contract staffing solutions; celebrating 75 years in the hiring industry.
• TradeCorp Staffing division focused on trade and skilled labor positions, addressing construction trade labor shortages through the HireQuest franchise network.
• DriverQuest Specialized staffing division providing commercial drivers and transportation personnel for various logistics and transportation needs.
• MRINetwork Global executive search and permanent placement brand providing executive search services worldwide; contributed approximately $65 million in system-wide sales and nearly $2 million in royalties in 2025.
• Northbound Executive Search Executive search firm providing professional and executive recruiting services to organizations, expanding HireQuest's capabilities in executive and professional recruiting.

Quantifiable outcome

• System-wide sales of $102.6 million in Q1 2026, with the company retaining $6.5 million in revenue from its royalty-based model
• +1 more outcomes

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor and core.

• TrueBlue Inc.minorOthers · 12 May 2026HireQuest submitted a $105 million cash offer to acquire TrueBlue's On-Demand segment of its PeopleReady business. TrueBlue's board unanimously rejected the proposal, stating it materially undervalues the business which is entering its fourth consecutive quarter of growth. Prior offers ranging from $7.50 to $12.30 per share were all rejected in 2025. HireQuest claimed the on-demand business has underperformed for years and its franchise model could unlock value.
• MRINetwork Franchise Owners GroupcoreOthers · 1 December 2025HireQuest changed the ownership structure of MRINetwork, transferring majority ownership to a leadership group of franchise owners. The transition aims to strengthen the network's growth, market position, and overall cohesiveness, with strategic rollout planned for Q1 2026. MRINetwork contributed approximately $65 million in system-wide sales and nearly $2 million in royalties in 2025.
• TEC Staffing ServicescoreOthers · 24 October 2023HireQuest entered into a definitive agreement to acquire TEC Staffing Services, headquartered in Arkansas. The acquisition was valued at over $34 million in revenue and was expected to close in the fourth quarter of 2023, with TEC's offices remaining operational during the transition. This acquisition was part of HireQuest's strategic growth in the staffing industry.
• Northbound Executive SearchminorOthers · 25 January 2022HireQuest acquired Northbound Executive Search on January 25, 2022. This represents an earlier strategic acquisition to expand executive search capabilities.

Scale indicators13 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• TrueBlue Inc. TrueBlue is the parent of PeopleReady, PeopleScout, and Staff Management | SMX and is the closest U.S. light-industrial staffing peer to HireQuest. HireQuest's $105M unsolicited bid for TrueBlue's PeopleReady On-Demand segment underscores direct competition for on-demand blue-collar staffing volume.
• Express Employment Professionals: Express Employment Professionals is a privately held, franchise-based staffing company providing temporary, direct-hire, and contract staffing across the U.S. and internationally. It is the closest direct franchise-model peer to HireQuest's multi-brand franchise platform.
• Spherion Staffing: Spherion is a U.S. staffing franchise operator focused on administrative, light-industrial, and professional placements. Comparable to HireQuest Direct's franchise structure and overlapping customer base of SMB employers.

Broad incumbents

• Robert Half International: Robert Half is a large publicly traded staffing and consulting firm operating across temporary staffing, direct-hire placement, and managed solutions. It is comparable to HireQuest's overall staffing franchise footprint and overlaps in administrative, finance, and professional placement.
• Kelly Services: Kelly Services is a global staffing provider spanning industrial, professional, and educational verticals. It is comparable to HireQuest's multi-vertical franchise model and competes for similar light-industrial and administrative contracts.
• ManpowerGroup: ManpowerGroup is one of the largest global staffing and workforce-solutions companies, with exposure to temporary staffing, permanent placement, and RPO. It is comparable to HireQuest's staffing franchise platform and serves overlapping SMB and mid-market customers.
• Adecco Group: Adecco Group is a global staffing leader operating across general staffing, professional placement, and workforce solutions. Comparable to HireQuest's broad franchise portfolio and franchise-driven distribution model.
• Randstad N.V. Randstad is a global staffing leader with broad temporary, permanent, and outplacement services. Comparable to HireQuest's staffing franchise footprint and competes for enterprise staffing contracts across similar verticals.

Emerging players

• ASGN Incorporated: ASGN is a provider of IT and professional staffing services with a focus on technology and engineering consultants. Comparable to HireQuest's cybersecurity and engineering staffing verticals through specialized recruiting franchises.
• Heidrick & Struggles: Heidrick & Struggles is a global executive search and leadership advisory firm. Comparable to HireQuest's former MRINetwork executive search franchise operations and to Northbound Executive Search following its 2022 acquisition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HireQuest