Starting any new security business requires a well-thought-out business plan. Without a proper plan, it is impossible to build and stabilize an organization, let alone create room for growth and expansion. If you are passionate about private security and thinking about building a successful organization, here are a few key areas that are essential when creating a security company business plan.
Well-Defined Business Concept
When first building your security company business plan, you must consider the services and scope of what you are offering.
- What types of security will you be able to provide?
- Contract security, armed or unarmed officers, executive protection?
- What is your geographical reach?
- Local, regional, intrastate or nationwide?
- What types of properties/organizations will you provide security for?
- Commercial, residential, home owners associations, hospitals, schools or a combination?
- What is the bare-minimum contract size you can secure without losing money?
- What is the biggest contract you can secure while still providing an exceptional level of security and customer service?
Without properly defining these factors, it is difficult for a security company to gain momentum and build a reputation. You will be targeting every business in every sector, failing to provide quality services. A well-defined business plan offers a more focused approach which will help you provide top-quality services in your area of expertise.
Remember, you can always grow your security business, but you can’t always save it.
Licensing & General Liability
Before much can happen with your security company, you will need to obtain a Private Patrol Operators (PPO) License, which is regulated by state run agencies like the Bureau of Security & Investigative Services (BSIS) in California. A PPO license grants the license holder the ability to hire employees that function as security personnel. But in order to be approved for a PPO, you will need to secure general liability insurance.
Getting a PPO license can take some time. When planning out your business’s roadmap, make sure to take these time constraints into consideration, as it will be a big factor for when you can officially launch your security business.
Note: Each state has different rules and regulations pertaining to operating a security company. We are using California policy as an example since they continue to have the strictest employer laws, but and are often responsible for progressing industry standards around the country.
Employee Structure & Management Plan
Building a sound security team structure within your business will help maintain internal order and high customer service standards. Not to mention, it will be much easier to grow your team and business if you already have a strong structure in place when you are ready to expand.
The first step is building a strong guard management team. As the owner of a small, new security company, it can be challenging to wear the different hats needed to run your business. Even starting out with just one supervisor, it will alleviate many of the managerial duties, freeing you up to focus on other parts of the business.
A good supervisor should have a strong background in 3 different areas:
- Organizing, directing, and managing security officers
- Motivate, train, and coach security officers
- Time management
With these areas covered, a supervisor can lead the charge on building a security force that is disciplined, motivated, and continually improving.
As the team grows, the company will be comprised of like-minded employees who hold the same values and ethics that will be reflected in their work. It will increase employee retention and satisfaction, as well as continually improve the quality of service the company provides.
Sales & Marketing Strategies
Implementing a sales and marketing plan upfront will give your security business the initial jump-start it needs, rather than figuring it out as you go. It is important to make these strategies scalable so you aren’t losing valuable resources like time and money.
As mentioned earlier, when you are building out your security company business plan, you have to determine the scope and geographical reach of your services. Once this is completed, you can begin to strategize the best sales and marketing tactics to answer questions like:
- Who are your top competitors in the region?
- What do they do well?
- What do they do poorly?
- Where do you find leads in the region you are targeting?
- Do we have a strong referral base?
- How do your sales reps play to the needs of your target audience and the weaknesses of your competitors?
- What is the most effective outreach strategy for this audience?
- What online platforms should we be using to generate awareness of our services?
Once you can start to identify the answers to these questions, you can start to build a security marketing strategy that will complement the efforts of the sales team and drive brand awareness and lead generation. Again, building a repeatable & scalable plan is important so that you aren’t wasting resources upfront and can grow your efforts as the business allows for it.
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