In modern times, the private security business has become a multibillion-dollar industry. The companies in this market range in size from small-town warehouse guard firms to gigantic multinational mega-corporations that hire out to world governments as mercenary forces. As you can see, there are many ideas you can run with if you're interested in starting a business as a security guard.
How do you get your foot in the door of this rapidly growing market? There are four key points on which to focus:
- Develop a solid business plan.
- Make certain you have a clean police record and enough experience in the field for the state or country in which you wish to set up shop.
- Good credit is a must if you wish to have enough start-up capital.
- Be certain of the legal aspects of your would-be career in your area.
Developing a solid business plan is always the first item of importance for any start-up enterprise. You need to make all the key decisions and build the framework of how your business runs initially before you start. Without a working model of how your company will be run daily it will be exceptionally difficult to acquire funding later. You must have the big picture in mind when starting a business.
Determine precisely what manner of company you will own. Will you be armed or unarmed? Will you be a privatized military force or a hometown security firm? Once you've considered these ideas, develop your business model from there.
Experience in the security industry is essential. Clients willingly hire companies that are led by owners with extensive knowledge. There are also the local government requirements to consider. In some places, like North Carolina, you are required to have several years of managerial experience before you can be licensed.
Another point I cannot stress enough is that you must have a clean criminal record if you intend to start this business. Further, once started, you will have to do background checks on all your employees to determine fitness for employment. No legitimate client will want to hire a security company that employs thieves and violent criminals.
With those steps taken care of, you will need to make certain your credit is strong enough for loan acquisition in the future in case your company requires extra funding. If you have poor credit you will have to fix that as soon as possible, or create a separate business identity for your company with its own credit. You must maintain this high rating of credit at all times!
Once you have the plan, the experience, and the cash, find a proper lawyer that specializes in this business. Go over each fine point of the law in the area you wish to set up shop so that you can operate successfully. It's also a great idea to educate yourself with some online courses in business law.
I cannot stress enough the importance of being bonded and properly insured. The security business is a risky and dangerous endeavor. There may come a time when you'll be required by law to pay out substantial amounts of money, due to accident, theft, or death.