If you’re eager to play an active role in keeping people safe, you might have considered starting your own security company. In this article we’re going to show you how.
Security companies in the UK are very busy helping residential and business customers to protect their homes, their properties, and their finances too. Home security has become big business too, and CCTV installation in particular has seen a big jump in uptake by worried homeowners. According to UK Security Sector Outlook 2017, the security industry is growing year on year, and in the last five years its turnover doubled to reach £12.2 billion. The sector employs around 100,000 people directly, as well as a further 69,400 indirectly. We even need security when we’re online now. The cyber security sector is worth an impressive £8.3 billion and the number of cyber security businesses has increased by 44 percent since 2017 (Department for Digital, Culture, Media and Sport).
Starting a security company is a tempting proposition for anyone who wants to own a business that’s going to be future-proofed against the usual ‘marketplace whims’ that can see the fortunes of other industries change overnight.
Reasons why starting a security company is a great idea
1. Helping to keep people safe
Priority number one for any security company in the UK has to be the safety of people, and then the safety of their possessions. It’s a rewarding feeling, knowing that your hard work is helping to keep people safe in their homes, whether they’re out in public or surfing the web.
2. There will always be demand
People will always want to feel secure, whether they're in their own home, running an online business, or setting up a shop on the high street.
3. There are lots of franchising opportunities
Fortunately, the franchise industry has many opportunities for committed entrepreneurs to invest in, with home security companies offering healthy returns and plenty of opportunity for growth and development.
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4. The cyber security sector has taken off in recent years
This relatively new field is very much an up-and-coming market. As businesses and individuals do more of their activities in the virtual world, a whole new generation of criminals is growing with them and finding new and more complex ways of parting people (and businesses) from their money. Cybersecurity franchises are still in their infancy, and usually you’ll find it ‘bolted on’ to management consultancy and business consultancy franchises as part of the package you offer customers.
Top tips for starting your own security company
1. Research the market
Depending on the type of security business you start, experience in the industry isn’t always mandatory, especially if you want to take more of a managerial role. But it does help to have a reasonable understanding of the challenges being faced by the marketplace you want to enter. Researching the market can help you decide what your security company will offer, based on customer demand in your local area.
With cybersecurity, an understanding of computer protocol, how firewalls and online security works, and how to keep up with the ever-changing demands and innovations of one of the fastest moving industries in the world is essential if you want to offer a reliable service to your customers.
2. Decide what type of business you want to start
We’ve already mentioned that the cyber security industry is particularly lucrative at the moment. But if you don’t feel confident taking on the cyberhackers, then a franchise installing real-world security systems may be more attractive. You might also want to consider offering:
- Security guards
- Door supervisors
- Close protection bodyguards
- Key holding response
- CCTV monitoring
- Vehicle parking security
- Event security
3. Consider the franchise route
To set up your own security company in the UK, you’re going to need not only to invest a considerable amount of money (for stock, advertising, sign-written vans and so on), but you’re going to be going up against other security companies in your area. There’s plenty of competition out there, so to give yourself a real chance of turning your security business into a success it helps to have a little support in your corner.
With a security company franchise, you’re buying into a brand that already has a positive reputation among customers, as well as a brand identity that customers are aware of and, most importantly, trust.
That word – trust – is essential when you're trying to break into (excuse the pun) the security industry. Without a proven track record, you'll struggle to establish your business as one customers can rely on.
4. Create a business plan
To make sure you are set up for success from the start, you need to develop a detailed business plan. This should include topics like your experience in the industry, the summary of the business, how you will finance your venture, the overview of your services, market research and your marketing plan.
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5. Be aware of your legal requirements
Security businesses in the UK are regulated by the Security Industry Authority (SIA). You and all of your employees need to carry out the relevant training and qualifications to successfully carry out jobs with an SIA licence. According to the SIA:
[The Approved Contractor Scheme (ACS)] provides a framework for setting, improving and monitoring the standards of management and of service delivery amongst suppliers of private security services; from licensable operatives deployed on site through to the executives in the boardroom.
You need to prove that your business adheres to certain standards to be accepted into the ACS. There are different licenses for front line and non front line staff so make sure you research your options in full. You can apply at: https://www.sia.homeoffice.gov.uk/Pages/acs-getting-approved.aspx#
6. Buy equipment
In order to run a successful security company, you will need to look at your options when it comes to buying or renting equipment. This will of course vary significantly between business ventures, but this might include:
- First aid kit
- Notebooks and pens
- Alarms for lone security guards
- Cameras and recording equipment
Make sure you also consider getting insurance for your equipment. You will struggle to fulfil your commitments to clients without your tools and equipment at your disposal. Having some protection for your equipment if it gets lost, damaged or stolen should help you get back on your feet quicker.
Start your own security company today
We’re all anxious about being secure in our homes, at work, and online. Security company franchises offer you the chance to break into what is an extremely competitive industry that’s built on trust. A security company franchise with a well-established brand gives you that level of customer trust you need to make your business a success. With constantly developing options and an expanding market in cybersecurity, this is a sector that is future-proofed against the fluctuations of market forces and will continue to grow year-on-year.
Becky Martin, Point Franchise ©