The business of defence and security might seem intimidating from the outside in, but it’s actually a very viable business model with a rather low barrier to entry. This is also a business that you could start on a surprisingly small budget. You could start offering services for special events and concerts, for instance, and slowly expand your scope of service as you establish a client base. However, that doesn’t mean that anyone can just start a security company and expect the money to start rolling in. Here are a few tips on how to start a security company successfully.
Establish Your Niche
The first thing that you have to think over is your niche. Not only will this make a difference on the type of permits you’ll have to apply for and screening for your employees, but it will also make a difference on your initial investment and the type of equipment you’ll need to get.
For instance, if you want to provide bodyguard services, your guards will need a body armor vest to perform their duties. They’ll also need things like communication tools, edged weapons, handcuffs, etc. So, make sure that you are aware of what they’ll need, and also factor in the cost for spare equipment.
Consider Acquisition
If you have the money for it, you should also consider acquiring another business instead of building from the ground up. Doing so could have many benefits. For one, you’ll already have a recognizable name, and be able to capitalize on this to establish your expertise. But more importantly, you’ll already have a client base, so there will be less selling involved.
Another option is becoming a franchisee. You’ll often have access to training for you and your employees, and this will also allow you to bank on the brand. Not only that, but they’ll also be able to help you with things like advertising and compliance as well.
Know the Laws in Your Jurisdiction
If your guards are going to do a lot of moving in and out of the country, or to other jurisdictions, you have to know what the carry and use of force laws are in that area. You also have to make sure that your employees have the proper credentials. If they don’t, you will put yourself, the employee, and your clients at risk of facing legal repercussions.
Note: It’s very important that you setup a business entity to operate under. This will protect yourself and your business in the event that a lawsuit does pop up. Two very popular options are the limited liability company and corporation.
Increase Your Local Presence
You also need to have a marketing strategy for your business. The first thing you’ll need is a web presence. This means a solid website, blog, and social media. You also have to work to increase your visibility in local search results.
It all starts with making sure that you have a Google Business page. You also have to make sure that your name, address, and phone number is consistent everywhere it is posted online. This will facilitate ranking locally. Make sure that there are significant local mentions on your site. And last, but not least, make sure that your first clients are satisfied and encourage them to leave feedback. Address negative feedback swiftly, offer retribution, and accept the blame fully if you were truly at fault.
Conclusion
Starting a security business is something that can be done on a shoestring budget, and the process is pretty straightforward. However, make sure that you know what will be legally required from you, and make sure that you pick the right business model for you.
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