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An employment or recruitment agency basically works to match jobs with potential employees. You would need to follow these steps in order to open an agency of your own:
- Plan the finances and the financing agencies.
- Plan pricing structures according to the trends in the market
- check out and apply for license if any.
- Decide on location of the office once you get the license
- apply for utilities like electricity, telephones etc
- List yourself on business journals and yellow pages
- Join Chamber of commerce
- Advertise
- Find clients

I googled and find few more thing

1. Your need to decide which vertical (IT/Manufacturing/Civil/Pharma/Chemical/Oil&Gas many more......) you would like to operate/start business.
2. Make client database according to selected vertical.
3. Prepare contract document. Before starting any recruitment assignments you need to sign contract with client.
4. Recruitment Charges may vary from 8.33 % to 20% of CTC value of selected/joined candidates. Normally in India, recruitment organization are charging from organization.
5, You can use the job portals like naukri / monsterindia / timesjob for getting candidates databse. You may upload job position also.
6. There are few techniques for getting candidates like Head Hunting, Reference and Database.
7. You can manage your database with specialised software so inventory of the resumes would be in good conditions. Whenever you want any resumes with matching to perticular skill sets, you can get it from internal databse, if Inventory of resumes maintained in good condition.
8. Training could be imparted on Communication Cycle, Candidate Cycle, Pitching & Client Meeting, Campaign Management, Candidate Development and Client Cycle.
9. Accouting and Taxes (Income Tax as well as Service Tax). (Accountant will take care on taxation part).
10. Infrastructure Set up : Company Registration, Office Rent, Computer - Infra Cost, Employee salary, Job portals contract fee.