There are many things that go into running a successful security guard company, but our experts have broken down the essentials into an easy-to-follow checklist for you. From getting your business license and insurance coverage upfront, all the way through hiring employees and marketing yourself as a brand, this article has got you covered.
When starting a security company, the startup should pick a category of the services that you would like to provide to the clients. Do not start offering an entire gamut of the services for which you may not have sufficient funds and other resources. Therefore, pick the right type of security business.
Which of the existing security business models would you prefer to follow? For example, you can choose to acquire a company that is already doing security business. A benefit of this model is that the company’s customer base, reputation, inventory, and perhaps some property is available to you ready-made. Else you can opt for buying a franchise.
One of the very first things that you think about when you plan how to start a company is to get the required permits and licenses. You must hold some crucial licenses and permits to operate your security business. Each state has its own set of laws. So, find out what are the conditions laid down by your state in this regard.
Customers first see a logo on a product or service before buying it. They do so to establish the authenticity of what they are buying. The business symbol plays a crucial role in building a brand identity of a company. Therefore, make it a point that the logo design of your security startup is unique, memorable, and stunning.
Write an accurate business plan well in advance. The plan must give you a clear picture of the market and customers. In addition, it should tell how you would be moving forward in establishing your business.
You cannot run your security company without first securing a good amount of funds. All private security companies that are doing well these days had a good amount of funds before starting off. Gathering money from own sources is often difficult.
Having a website to establish your business credential is necessary for these days when everyone is using the web to search and shop. Your potential clients would like to visit your website to get your company details before they contact you. In fact, most of them will consider your company as the best security company and make their mind to hire your services after getting the details online.
Social media has become the essential business promotional tool not just for startups, but even for well-established companies. They use different social channels including Facebook and Twitter, the two most popular for marketing, to connect with people. You can find potential buyers of your services on different social channels.
Winning the trust of your customers is important for your security company. They must have full faith in your ability to protect their residential and commercial properties. If they have some doubts about the security technology you use or they consider your company unprofessional, it will ruin your business prospects. So, make sure that your clients are fully
satisfied with your services. Such clients will recommend the services to others. This helps in building your solid customer base in the end.
You will also be required to fulfill certain basic tasks so that your security company starts functioning. For example, you need a state tax identification number (TIN) to register your business and get permission for opening the company’s bank account.
Magdi Talal Hussein, Founder & CEO, Magdi Shop.
Buy Instead of Establishing
Let’s face it. Over 90% of all businesses fail within the first 5 years. Yet, there are profitable security companies that are already established, have existing clients, positive cash flow, and strong relationships. If you are starting a security company you are starting from scratch. The key to success is finding motivated sellers from deal sites or even a direct approach to security companies.
Casey Moore, Owner, Robert Smith Communications.
Register Your Firm
Before beginning any business, but particularly a security guard firm, you should register it with the appropriate authorities. You can’t open a bank account, apply for loans, or recruit employees unless you are registered with a legal company.
You should register for different federal and state taxes before you can launch your security guard firm. To file for taxes, you must first obtain an EIN (Employee Identification Number), which is a simple and free process.
Before you start a security firm, you must select what security services you will offer. Entering the security profession without knowing what you can offer your clients can only lead to disaster.
ShaunaHatcher, Staff Writer, NWPH
Price Yourself Correctly
When starting your company, the most important thing to do is to price yourself correctly and go out there to let people know you’re there. I made the mistake of assuming people would come to me, which cost me a lot of revenue. But having a website isn’t going to cut it, because people aren’t going to come to you to get security. You need to make sure you’ve either got a salesperson or you’re going out to make sales and call people back.
Being proactive will get you worlds ahead of other companies, which is what we experienced when we began our company.
Additionally, having an extensive screening process when hiring your guards is extremely important. It might take a little longer to find guards, but
it will help you hire guards that actually perform their jobs well and have enough qualifications to handle the difficult situations that security guards are put into on a regular basis. Down the road, it will save you a lot of headaches when you are able to avoid the kinds of situations that make it into the news.
Finally, get as familiar with the guard company requirements in your state as possible. I can’t tell you how many times we’ve seen random audits come through and have been saved by the fact that we keep detailed records and know what kinds of requirements the state has for us. As with my last tip, it’s a lot of work but it saves you a huge headache down the road.
Glen Bhimani, Marketing Team, BPS Security.