Security service is fast becoming an essential service.
There has never been a better time to start a security service company than now. There are security challenges almost everywhere around the world. When you listen to news, you will hear several reports of crimes such as killings, theft, robbery and attacks on individuals and communities. Nowadays, it is like that news is not complete without any reports about crimes. It happens every day. The security challenges have become a global phenomenon. In the past, people could look up to the government for the provision of adequate security service. But today, reverse is the case. Our government can no longer provide security service that can be said to be adequate for the safeguard and protection of lives and properties. This is a good opportunity for anyone that is competent in the area of the provision of security service to launch his security company. Below is a guide on how one can start a security service company.
Develop a Plan
Every business has its own peculiarity. While there are some businesses that one can suddenly wake up and decide to start, a security service company is not in that category. Starting a security service company requires that you have a good plan for all phases and segments of the business. Firstly, you need to assess yourself whether you have what it takes to start a security service company. This time around, I am not talking about financing. Even though you need money to start the company, the most important thing is for you to have good background about security matters. The business is suitable for people like retired police or military officers. However, having a security background does not guaranty success. Police or military personnel are trained on security matters but they are not necessarily exposed to business matters. This has always been the gap. Some people that have experience in security matters lack basic business skills that are required to start and run a business effectively. Also, people with business skills don’t have that security related background. No wonder we don’t have much companies that are into the provision of security service.
For the two classes of people mentioned above, the remedy to the identified gap challenges is for someone that wants to start a security service company to go for training. The side of the coin you belong will determine the kind of training you will go for. For instance, if you are a retired police or somebody with a military background, you already have experience in security matters. You will need to go for training on entrepreneurial development. You need to be exposed to business basics and acquire business skills. On the other hand, if you are an entrepreneur and you discover starting a security service company as a good business opportunity, then you need to acquire training in that line. There are specific courses on security that you can enrol in. You will not only get trained. You will be issued a certificate at the end of the training programme. With the right skills and experience, you are set for the next step. Nevertheless, if none of the two ideas discussed on how to acquire training is okay for you, another thing you can do is to invite someone who is equipped in the area where you are deficient as a partner.
Register your business
If you want to start providing security service, you need to register your business with the appropriate authority; the legal structure of your business notwithstanding. But there are some factors which may influence the legal structure of your security service company. If you are starting the business alone, you can afford to register the business as a sole proprietorship. But if you are bringing in a partner, you may need to register the business as a partnership or a limited liability company. In most cases, corporate clients prefer dealing with limited liability companies. Therefore, for this purpose, you may choose to register the company as a limited liability company. This will also shield you as a person from any liability which may be brought against your security service company. Please note that the registration of your security service company may be declined if you don’t have proofs of competence in security matters.
Obtain Licenses and Permits
Every State or country has its own laws and regulations that govern how businesses are being conducted. You need to approach the relevant authority in your State so that you can ascertain the kind of licenses and permits you need to obtain before you can be allowed to start a security service company. Please note that it is not automatic that you will be granted licences and permits to operate. You must satisfy other conditions which the agency in charge may deem fit that you must meet before you can be allowed to commence business.
Choose a Location
You need a place that is spacious enough for administrative purposes. You should make a provision for store where you can keep things like uniforms, boots, torch lights and other important items. You should also bear in mind that you have to maintain files for each security officer and your clients. Therefore, you need a space where all these files can be kept and easily retrieved when needed.
It does not matter whether you are security personnel or not, you need to hire other people to work with you. You need both administrative staff and security personnel. When hiring security officers, you are not only looking for competent people. You need people with no theft history. Therefore, there is a need to conduct background checks on all your security officers. Also, all your security staff must be adequately trained so that they won’t put you into trouble. The money you will pay for training them will be much less than the liability you will incur in case of their misconducts. You also need to equip them with uniforms and necessary security gadgets. If they need to carry firearms, they must be licensed to do that. Also, it is important that you obtain insurance policy. You can contact your insurance company to advise you on the insurance policies that are right for you.
There is market for security service. Notwithstanding, you need to go out there and let people know about your security service company. You need to be able to identify the decision makers within an organisation. This will help you to ensure that you are talking to the right person. You don’t need to spend your time, energy and resources talking to someone who cannot in anyway influence the decision to hire your security service company. You can print flyers for distribution. It is also important that you have a website. This will make your business to appear professional. Your target customers include wealthy individuals, corporate organisations, churches, mosques, supermarkets, plazas and government agencies.
SWOT Analysis for Security Service Company
Much have been discussed already but I will still like to analyse the security service company further by using SWOT Analysis.
Strengths are the internal capabilities which can give you an edge above your competitors. Of course, somebody with background in security matters is in a better position to know the technicalities involved in rendering security services. Security is much more about what goes on at the background and not just about what we see outside. It has to do about intelligence. Having business skills like marketing, financial management is pivotal to the success of any business. If a person is able to combine his knowledge and experience on security matters with business skills, such person will be able to run a security service company successfully. Since security issues has to be addressed at the management level, a person that can easily relate with the decision makers will be able to close sales easily. Talking about human resources, you need competent and good trained security personnel who know what they are doing. Otherwise, they can turn to be the undoing of your security service company.
If you are lacking any of the strengths discussed above, it becomes a weakness to you. You will never see a perfect man. One of the essence of conducting the SWOT Analysis is for you to be able to identify your weaknesses so that you can address them.
Entrepreneurs see opportunities where others see problems. The challenge we are facing about security is actually an opportunity that is waiting for individuals to be exploited. If there is no security problem, there will be no need for security service. It is obvious that government cannot provide individuals the added security they may need. This means that they may look up to private security service companies for the protection of their properties. One thing that discourages people from tapping certain business opportunities is the fact that people may soon see it as a lucrative venture. They all rush into it and before you know it, e many people doing the same business, thereby making the business unattractive again. But for security service, it is not all comers’ business. There are entry barriers to some extent. There are certain minimum requirements any person that wants to start a security service company must meet. That is why we have few security companies around.
Read Also: SWOT Analysis and How To Use it
Not all security personnel are allowed to carry guns. Meanwhile, when armed bandits operate, they come with sophisticated weapons. Unfortunately, the security men on duty are their first target. Also, there have been cases where clients take legal actions against security service companies because of what can be considered as negligent on the part of the security men attached to them. At the end of the day, you discover that security service companies spend a lot on settling legal liabilities or in paying attorney, Having a documented contract stating the responsibilities of each party may reduce this. Also, if you can maintain a good relationship with your clients, this may reduce the number of legal actions coming from your client