Are you considering starting your own security company? Before you do, read this guide and learn how to do it successfully.
One of the most exciting and most important businesses that you can start is a security company. More than ever, we need security services to protect the public.
With a security company, you have the opportunity for providing services to protect the public, companies, and individuals. Security companies are run by individuals who are dedicated and detail-oriented.
They aren’t the simplest businesses to run. But they are among the most rewarding businesses to run.
So how do you start a security company?
We’ve prepared this informative guide to help you start and run your security company.
Let’s take a look at what you need to do to establish your security company and get it running:
1. Do Your Cost Research
There is a lot of meticulous research that you will have to focus on before you can establish your company.
Money is always a factor, and you need to first research the startup and maintenance costs of a security company. Costs always vary, but you can expect to pay around $3,000 per six months for insurance. To cover regulatory costs, you probably won’t spend over $500.
Uniforms for your security guards can also be relatively cheap. You shouldn’t have to spend over $100 per uniform. If your security guards have their own firearms, ask them if they are willing to use them for the job.
The security company would cover the cost of ammunition. You should also cover the cost of firearm accessories which you can find affordably from JP Enterprises.
Otherwise, one can purchase guns at an affordable price. Make sure you shop around for the best deal.
Finally, you can set up your business with a small office. You also don’t need to spend a fortune on setting up your website and marketing the company.
You should also consider purchasing business insurance once your company has been established. It’s best to do the research in the early stages of where you can find the best business insurance.
2. Establishing the Company
The next step is to establish the company. You have to first decide what business structure is best for your security company.
You also need to come up with a unique name for your company. Make sure you are able you find the corresponding domain name and social media handles for this name. You want a name that is unique but also that signals that you are operating a security company.
You want a name that makes a customer feel that you can provide them with high-quality security services.
3. Financial Obligations
The next step is to manage your new company’s financial obligations. First, you need to register your business for paying federal and local taxes (state, city, etc.). You will also need to apply for a tax identification number for your business.
You should also open your business bank account and apply for a company credit card. This is also the time to hire a great accountant who understands how to best optimize your finances.
You need to keep track of your company’s finances, see how you can legally avoid paying fewer taxes, and how to invest your company’s money.
Your accountant can also help you with the expenses of your company. They can let you know where to spend your company’s finances to get the best deals. For example, the best firearms may be available to purchase from the USA.
But perhaps you can have custom-made uniforms made in India. You should familiarize yourself with international markets and international currencies, as these might help your company.
4. Legal Obligations
As you would expect, there are a number of legal obligations for starting a security company. The best way to go forward is to hire a business lawyer.
This lawyer will be able to understand the legal obligations that need to be met to establish your security company. They will also be able to guide you on how to always comply with changing laws.
Your security guards, for example, will likely have to apply for a license to be authorized to work as a security guard. Your lawyer can help you apply for these small business permits and licenses.
Your lawyer will also help you draft contracts between the company and its employees, including security guards. The lawyer will also help in preparing contracts for your clients.
5. Certificate of Occupancy
A security company will require that you apply for a Certificate of Occupancy or CO.
The clerical operations of the security company will need to be conducted from an office. The CO states that the company has met the building codes, zoning laws, and other rules and regulations.
If you lease your office space, then it’s the landlord’s responsibility to obtain the CO. Make sure that they have obtained the CO so that you can keep it displayed in your office. If there are any renovations to the office space, you will have to confirm with your landlord that a new CO has been issued.
If you are going to purchase an office or build your office from scratch, you will have to apply for the CO. You can consult your lawyer on how to meet the building codes, zoning laws, rules, and regulations. You will also have to contact the local government authority in charge of granting the CO.
6. Choose Your Services
Once your business has been established, you are ready to start hiring and start offering your services to the public. But first, you must decide what services you are going to offer.
Security companies can offer a plethora of different services. This can range from private bodyguards, private security for residences and commercial property, to hired security for events, patrolling services, and cybersecurity professionals.
You can offer one, some, or all of these services. Do what’s best for your security company.
Make sure that you understand these different services before you offer them. Research what is needed for these services. This way, you’ll know how to offer high-quality service. This will also help you in the hiring process.
7. Hire the Best People
Your security company is highly dependent on the caliber of people whom you employ. You want to first make sure that you don’t hire anyone with a criminal record. It’s imperative that the people meant to provide the security of others are trustworthy.
As your employees will have to handle firearms, you want to make sure that they have experience with firearms. You may also want to invest in firearm training that your employees will have to regularly attend.
Ideally, you should hire people who have prior experience with security companies. As security is a cautious industry, you want someone who knows what they are doing. If you hire inexperienced workers, make sure that they are given proper training for the job.
For your clerical operations, you want to make sure you hire people who are skilled in customer service. As security is a competitive industry, you want to make sure that your staff can sell your company to clients.
Clients need to be assured that your company not only provides the best service but that it’s better than what the competition offers.
8. Promote Your Brand
Next, you need to start promoting your brand. Use the traditional marketing sphere to get the word out on your brand. You should also take advantage of social media to promote your security company.
But the best way to promote your services is to directly reach out to potential customers. For example, if you wish to provide security for residences you can reach out to the administration of a gated community and put forth your offer.
If there’s a large event that’s going to be held in your locale, you can contact the event managers and offer to provide security.
As your company grows, it’s imperative to receive testimonials from satisfied clients. This will be the best way to attract more clients. These testimonials can be shared on social media and on your website.
9. Promote the Need
Security is needed more than ever — but it isn’t always on everyone’s mind. You have to promote the need for security. When you offer your services to potential clients, you will have to convince them that security is necessary for their property, themselves, or for their event, etc.
As your finances grow, you may wish to invest in video commercials and audio commercials that discuss the need for security in today’s uncertain world.
10. Think Ahead
If you want your security company to continue to grow, you have to always think ahead. If you only offer one security service in the beginning, think about additional services you can offer later.
You have to always think of new training that you can offer your employees. You also have to always think of new methods of marketing.
Most importantly, always keep an eye on your competition so that you can always establish your company as a key player in the security industry.
Start Your Security Company
Now that you know the tips for running a security company, you will be able to start your own successful security company. This is a noble endeavor and we wish you the best of luck!
Be sure to read more great content on business and entrepreneurship!