A Complete Guide To Starting A Security Services CompanyCameron N.
Starting a new business is never easy, let alone a security services company. But, if you have the experience, knowledge, and a plan to get started, nothing is impossible. The security guard industry is growing fast with the increasing need to secure properties & personnel from every potential security threat and criminal activities. Therefore, there’s no better time to begin than right now.
With that in mind, here’s a complete guide that covers all the essential information you’ll need to start your security services company, from developing a security business plan, incorporating a patrol tour guard system, to promoting & marketing the business. Scroll below, to read on.
Develop Your Security Business Plan
One of the first pieces of advice that’s often given to any entrepreneur is to have a business plan. If you’re planning to start your security services company, before you do anything else, start with developing a business plan. Take a pen & paper right now and begin jotting down the points regarding the security services you would like to provide. In addition to that, consider the following things to create a foolproof plan:
- The initial cost to start the security services company.
- Who will be your target market, and why?
- How long will it take to break even?
- What will be the name of your security services company?
Having an initial business plan will eventually help obtain the right license, permit, insurance, and even the right security managers & guards.
Establishing A Legal Business Entity
The second most important step of starting a security services company is to establish it as a separate legal entity. Creating such an entity will prevent you from being personally liable if your company is ever sued. So, don’t just choose the name of the business smartly, but also don’t forget to include the words “limited liability company.” Further, consider using a registered agent service to help protect your privacy and stay compliant within your state.
Separate Personal Assets From Your Business
Once an LLC operating license is created, and an employer identification number is obtained, opening a separate business account is highly recommended. Your personal assets can be at risk, having a personal & business account mixed. Doing so will also enable you to record various expenses & sources of information seamlessly. In the long run, it will help you understand the financial performance of the business and simplify your annual tax filing.
Obtain A Business Licence & Permit
To be honest, this part of the process is quite dependent on the type of security services you are going to offer. Once that’s crystal clear, the license & permit required to run a security services company & to remain complaint won’t be a problem. Though remember, different states have different requirements, check with your state laws to complete the proper paperwork.
Here’s a list of common licenses & permits required:
- General Business License – It gives the owner of the security services company the authority to conduct its operation and therefore is mandatory in all states.
- Security Service Licence – Also known as the patrol operator license in California, this license is also mandatory in many states to prove that you have the necessary skills & experience to operate a security services company.
- Service Vendor’s Licence – It’s required in some states such as Ohio, which taxes private investigation & security services company.
- Firearm License/Permit – Required by security services companies whose security guards can carry guns.
Obtain Liability Insurance
Security guard industry is among one of the many industries that have specific insurance requirements. It is highly recommended that no security services company operate without it. So, discuss your needs with an insurance agent to get the right type and the right amount of insurance for the business. It will protect your business assets from lawsuits, without which legal claims can force your company out of business entirely.
General liability insurance usually covers property damage, injuries, personal liabilities, legal defense & judgment, and advertising liabilities. Additionally, do not forget to look into other government tax & insurance requirements such as worker’s compensation, federal, state, & local tax, etc.
Hire Security Managers & Guards
Hiring the right security managers and security guards can make or break your security services company. Therefore, when you decide to hire employees for your LLC, ensure you follow the hiring laws diligently. Initially look for experienced security managers & guards that as per the state board licensing board have already undergone a criminal background check & the required training to obtain a license. Despite that, run a background check on anyone you hire to look for criminal activity that may impede their ability to provide security services.
Check to see if your security guards need a private patrol operator’s license. Some states require all the security guards who drive for their security services company to have this license. To comply with it, look at your state laws to see if this permit is required.
Invest In A Security Management Software
For a security services company, no longer the traditional ways serve the purpose of conducting security operations efficiently and effectively. To be able to do that today, you will need to invest in security management software like Guardso. It is designed to streamline your day-to-day security patrol operations through its web & mobile-based technology.
It caters the needs of everyone involved in or with the security services company, from a security manager, security guards, even to the clients.
- The live dashboard will allow your managers to schedule the guards, track them live, communicate with them, view real-time reports sent by them, create dispatch tickets, invoices, estimates, generate payroll reports, and so much more.
- Security guard patrol app, on the other hand, empowers the guards to do more than to just report live. Available on both iOS & Android devices, security guard patrol app allows the guards to check-in/out, access schedules & post orders, submit multiple reports & more.
- The client portal offers one of the greatest security management software benefits. With it, you’ll never need to worry about updating the clients of the progress made on their post-sites. After all, it’s designed to streamline report sharing by providing detailed insights into sight performance & productivity with secure access to reports, tracking history, visitor logs, and more.
Guardso security management software is the one-stop budget-friendly solution to address accountability, improve performance & productivity, enhance client satisfaction, reduce liability, & encourage paperless management.
Promote & Market Your Company
The last step to successfully launch a security services company is to promote & market it efficiently to reach the target audience. To build a strong brand that will help your security services business to stand out from competitors. Being a part of the digital era begin with establishing your web presence.
An official business website will allow your customers to learn more about you and the security services you’re offering. Along with that, make the most out of social media marketing strategies. Without breaking your bank balance, it will help attract new customers. A lot of other security services companies also rely on direct mail and referrals for the business. So, choose a marketing plan for your business wisely.
Have you jotted down all the points to begin on the journey to establish your security services company?