If you’re thinking about starting a security guard company, you’re getting into an industry that has high demands. Many of your clients will likely be top spenders and you can make a great deal of revenue, but there are some steps you’ll have to take first.
When you start any business, you should have a concise and well-defined plan going in. Granted, there will be some trial-and-error and you’ll likely have to change your mind as you go, but a solid foundation will help you move towards your goals. You should think about what kinds of businesses you’d like to offer your services to, how you will price your services, what your expenses will be, what your brand will look like and so on.
You should be optimistic when you start a business, but you should also be practical. When you run a security agency, you’ll have some high-stakes responsibilities that can lead to lawsuits. You should protect yourself by setting up an LLC or corporation in the event that anything goes wrong. You can form a legal entity by yourself, but if you’d like to save time, you can hire a service.
Your business will not be official until you sign up for federal and state taxes. You can do this by getting an EIN online, by mail or through fax. It helps to do some research before you register, because there may be some tax incentives if your agency is an LLC. You should also set up credit and banking accounts that are separate from your personal assets. This will help you with filing taxes, bookkeeping and other financial duties. Last but not least, you will likely need a license and permits to run a security company. You can find out about these requirements through your municipal or county clerk.
Having the right setup is key. You should look into equipment such as walky-talkies and protective gear to keep your staff safe. Radio communications are a huge part of security work, so you might benefit from RF splitters and combiners so you can tweak different signals when needed. When you hire guards, you should ensure that they have the right experience and credentials. A strong social media presence, website and local marketing plan can help you bring your first clients in.
After you follow these steps, you should be ready to start working. Many companies outsource their security details, so a lot of opportunities may be lying in your wake.