In today’s world, crime is increasing at a highly rapid rate. Criminals now don’t have fear in committing any kind of unlawful activity. Doesn’t matter that the person is at his home or not, the family of the person was always in danger. Under these circumstances the person needs external security and due to these loopholes in our society. We are going to discuss about home security business in this article, need attention of all entrepreneurs.
People have an amazing opportunity to start a home security business. Which is not limited to home security only, they can provide security at the site where there are various developing projects, huge building apartments, etc.
The competition in this kind of security business is not too much but increasing at a highly rapid speed. So, you can also take the advantage of that. This business system requires less paper work and also lower money as compared to other businesses.
You can start a home security company at any level either at a professional or at a very basic one.
How to Start Security Installation Business
What are the benefits of home security business? Why people get home security system in their home?
There are various benefits of paying to a home security system such as protection of ourself, protection of our property and a lot more things we see below.
1) The first benefit which a home security system provide is protection of your property from theft, fire and other bad breaks inside and outside of your home.
Home security system will also work in emergency and in very critical situations when there is no time even to think anything.
2) Thieves are becoming clever nowadays and due to this reason. It is even more difficult for CCTV cameras and alarm system companies to catch them before entry.
Home security system protects you against these thefts and throws them away even if they entered inside your property.
And also thieves and robbers also scared to enter at those places where there is a security guard.
3) When you have security system at your home or any property, then you will feel relief from the burden of your family’s safety. And thus it will provide you a much happier mind at the place of your work.
4) When you have a home security system installed at your home, then you don’t have to pay the home insurance premium bills.
Such as theft insurance, etc. The insurance companies compensate for your stolen items but a security company or agency doesn’t allow anyone to enter in your property and steal anything.
Imagine if the thing was very precious and very rare for you, and if it was stolen then the company will pay you the price only What about the affection you have with it.
How to start a home security business:-
For starting a security company firstly you have to choose the type of services you offer.
You can provide services such as
- Home security and CCTV
- Body guarding
- Parking security
- Stationary guard services
- Patrolling services
- Crisis management consulting
- Cyber security
And then you have to get a legal registration of your security system business. To build a fine reputation of your brand.
How to get registration of your security company?
Firstly you have to decide that under which form you have to register your company.
You can register it as a One Person Company (OPC), Limited Liability Partnership (LLP), Limited company (LC).
Or else you can do a little research and start your security company with a franchise.
Research such as, which are the best home security companies in the world and then you can approach them.
Starting a security company as a franchise had it’s own advantages.You can approach any famous or reputed home security franchise also. You have a lower failure rate, lower risk factors are involved in a franchise. You can make an important place of your brand in market as a franchise.
You have to do a detailed representation about configuring security devices in home and business to the other big party. However, the franchise will decide the minimum and maximum wages you can charge for your services.
You have to get your company registered under government’s PARSA act, 2005, which we see further below in the article.
The next thing required is GST number.
How to get GST number for your security company?
You can get a GST number at the time of registration from the state authority itself.
Or you can talk to any CA (Charted Accountant), they can help you in getting your GST number.
Then you need some place to work on you can either take any shop or office in lease with an agreement with its owner.
Or you can buy your own land, building material, labors and make a new one. You also have to make a logo or trademark of your security company, so that it will be easier for people to identify your company.
And it is a good thing to build trust among the clients.
How much does it costs to start a security company?
A security company is a low cost business startup. The cost involved in this business depends upon some factors such as
- Type of security business you run
- Size of your business
- Legal registration fees
The most important question for all readers is, how much does it cost to start a home security company.?
But still on an average the cost involved in this business is around 2,80,000 -4,75,000 rupees.
The price also depends upon the security equipments you buy (you can talk with any home alarm companies to provide you the alarms to install at the workplace).
- The uniform you buy for your employees
- The installation charge
- Monthly monitoring services
- Marketing and websites development
- Leased office or price involved in buying it
- Emergency fund
And also the cost is involved in hiring employees, their training and their certification.
The general liability insurance is also important for every business. And no security company can operate without a general liability insurance.
This insurance also depends state to state.
It will help to protect your security company, clients from theft, assault burglary, errors and omissions, custody and control.
You also have to give 5000 Rs for 1 district, 10,000 Rs to convert more than 1 but upto 5 district and 25,000 Rs to operate in the whole state to the government.
These are some of the requirements to start a company.
What are the certificates required for starting a security company?
An ISO (International Organization for Standardization) certification is required by the home security company.
And also a MSME (Micro, Small and Medium Enterprises) certification is not necessary but it is preferred to take.
So that, you get the benefits provided by the government later. Another licence which is PSARA License: The Private Security Agencies (Regulation) Act, 2005 is very important to acquire.
This act limits the work performed by private home security companies.
Previously all this work was very complicated but now you can acquire all these licences online from the government websites.
How to attract clients and how to do marketing of your security company?
Marketing plays a very vital role in increasing the revenue and profits in the business and helps it to survive in the market in the long run.
To do marketing there are various ways, one is you can do offline marketing.
Offline marketing involves visiting to any defence academy, any coaching Institute or a huge community where you can aware people about this security systems and influence them to take your services.
You can visit in any mall, schools, colleges, different societies or wherever you think that security is necessary.You can do business meeting with another businessman who wants security for their business.
In starting you can provide quality of work as no profit no loss and with time people themselves suggest their relatives or friends or any other people about you your services.
In offline marketing you have to influence people by approaching them to take your services.
And in the another thing, that is online marketing.You do not have to go to any person or community to promote your business, people will come themselves to you.
You can do digital marketing by yourself and also by hiring digital marketers or contacting digital marketing companies or agencies.You can run paid ads on social media platforms of your security company.
You can make your websites to provide your clients full information about your home security business. You can pay social media influencers to promote your brand among their audience.
How much can you earn from a security services company?
The earning of a security company or agency depends upon the place they are offering their services. If you are in business as a franchise then you have to charge the amount which was decided by the franchise.
And if you operate your business as an independent entity, then you can charge any amount which you want from people. Your earnings from security company depends upon,the number of security guards you have, how many places are there where you are providing your services.
If you find any such place which is able to pay you more than others,
Then you have to make an agreement between both of you, such as, If you need any type of work related to security then you can not hire any other agency,
Within a specific time only we will provide you all the services related to security and you have to pay for that also.