How Much Does It Cost To Start A Security Company?
- January 31, 2019
- Posted by: Moise Louissaint
- Category: Security Guard News
Do you have experience in the security industry and a high sense of natural protective instincts? Are you ex-military or law enforcement and looking for a new career? Do you have knowledge in criminal law and a strong sense of promoting safety and security in your community?
If so, you may have what it takes to start a security company. The security industry has been growing at a rapid rate over the past few years and that trend shows no signs of slowing down anytime soon.
How Big is the Security Business?
It is estimated that the security industry is a $31 billion dollar industry. There are over 10,000 businesses that employ over 750,000 employees in the United States. These numbers are only projected to increase as the need for security in the US grows.
Why This is a Great Time to Start a Security Company
New business projects and startups are cropping up all over the place, all across the United States. Almost every business can benefit from some form of security or another. With new business comes new potential clientele opportunities.
IT and private investigative services are the two fastest growing markets within the security industry. With steep increases in terror and violence all around the world, we are all looking for ways to combat the danger and keep ourselves and our loved ones safe.
With so much need and the projected increases, now is a great time to start a security company if you are someone with an entrepreneurial mind set and a passion for public safety and security.
How Much Does It Cost to Start a Security Company?
Starting a security company is a relatively low cost business to start up. You can start your own security company for about $10,00 in upfront investment. The biggest cost to enter into business is the cost for insurance. Insurance will cost anywhere between $3000-$6000 per year, depending on the state you live in.
Many states also require that you maintain a physical office space for your company. You can lessen the cost of office space rental by utilizing shared office space. Sharing an office space can save you hundreds each month.
There are also licensing and legal registration costs to be incurred. These cost will be dependent on the location of your business, type of service and the size of your business. Once you have your initial essential startup costs, you can get on your way to hiring guards and providing them with uniforms, training and certifications to qualify them for service.
Much Do Security Guards Make?
Once you get your business up and running, you’ll likely need to hire security professionals to work with you. The salary you pay your employees will depend on where you live and the type of job they are to perform. There is a wide salary range in the field; security guards can expect to make anywhere from $20,000-$50,000 per year. If you are inspired to start your own security company, there is a low barrier to entry, allowing you to get your business off the ground quickly and on a low budget.