What Should Be Included in Your Hourly Guard Rate
The most important thing you will ever do as a security guard company owner will be setting a price for your services. If your prices are too low, you will drive yourself right out of business. If they are too high, the competition will slice away at your business with a much lower rate. Knowing how much to charge for your services starts by knowing your operating costs and using those as a baseline for building your rates upon.
To that end, the following are some of the costs you will want to build directly into your pricing strategy while protecting your bottom line.
Start by calculating the average hourly rate you pay your guards. Next, add in the cost of taxes, insurance, training classes, extra equipment, etc. This will show you the average hourly cost of your security team. Once you have this figure calculated, add in the percentage of profit you want to make to determine your rate.
Finally, don't forget to charge a different rate for armed vs. unarmed guard services. Armed guard services should always be charged at a higher rate to take into account the additional costs of the firearms, insurance, and all the ongoing training armed security officers require.
If a client has a vast expanse of properties to patrol, this can require the purchase of a mobile patrol vehicle. Depending on the size of the property, or distance between them, a Segway, golf cart, truck, or other slightly-used light vehicle should work for most companies. It is crucial to remember how maintenance, & upkeep expenses will bleed into your hourly pricing. When calculating these expenses, be sure to include the purchase price, maintenance costs, insurance costs, hourly operating costs, and vehicle equipment depreciation into the equation. This will show you the approximate hourly cost of providing a vehicle(s) for the client's needs.