security business plan uk

How to start a security company

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Crime tends to hew closely to a tough economy. The unsustainable hardship driven by inflation and the cost of living crisis is likely to see theft and burglaries increasing. In turn, this creates a surge in demand for private security services, which can be anything from bodyguards and patrol officers to CCTV and guard dogs.

As a vital service that many people and businesses rely on to keep them safe and give them peace of mind (in the UK, private security operatives outnumber police officers by 18 to one), it’s not a sector you should enter into lightly. And while the barriers to entry are relatively low, and anyone could set up a business in the sector, prior experience in private security is something of a must.

Still, the need for a private security business is very real, which means this is one of only a few sectors that are likely to grow during an economic slowdown. If a private security business sounds like the opportunity for you, read on for the full picture on regulations, costs and equipment, and how to hire staff.

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Starting a private security company - the key steps:

Security business ideas.

• Choosing your niche

Licenses and regulations

• Costs and equipment: How much does it cost to start a security company?

Getting clients

Hiring security staff.

• What’s next?

Broadly speaking, there are three major types of security business:

• Private security businesses . These provide guard and patrol services – including bodyguards, guard dogs, parking security, CCTV monitoring, security guards and more – to clients in order to prevent theft, damage or unauthorised access to property or an individual.
• Security consultancies . These advise and support organisations and individuals in recognising and managing security threats, helping them to devise security strategies and budgets.
• Cybersecurity companies . These provide products and services which protect individuals’ and organisations’ digital data and assets from cyberthreats.

This guide will primarily deal with starting a private security company.

Of course, the ability to offer each private security service will cost you, as you’ll have to find the right licenses, training and staff for each. When you start, it’s likely that you’ll have a limited budget – so choosing one area to specialise in to start with will serve you well.

For example, you might decide you want your startup to be the go-to security company for:

• Manned guarding
• Bodyguarding
• Door supervisors (more famously known as bouncers)
• Guard dog provision
• Mobile patrols
• Key holding response
• CCTV monitoring
• Vehicle parking security
• Event security

If you want an even more specific niche, you may decide to specialise in providing services specifically to residential properties, commercial properties or individuals.

You might also narrow the customers you target down to either public or private (it’s worth noting that private clients often pay better than public organisations, but there may be more competition for their contracts).

Expert Insight – Milan Mazić, Zicam Security

The founder and CEO of Zicam Security , which has been going for over 25 years, Milan Mazić knows a thing or two about running a security company. He gave Startups the following advice for new entrants:

• Identify your target market – In Zicam’s case, Mazić knew that he had a passion for security and that he wanted to help the community by reducing crime in the commercial and industrial sectors.
• Know how you’ll get clients – It’s a good idea to focus on getting repeat business through recommendations rather than advertising, so make sure you build a brand that’s respected and synonymous with high-quality work.
• Scout your rivals – Forensically analyse your competitors to ensure that your operation stands out and will attract customers.

Choosing your security company niche

In the security industry, experience is key – so when it comes to deciding on your security business’ niche, it’s important to select an area that you have some personal experience in. That way, you’ll understand how the service should be run, and you’ll know what’s required for your service to be smooth, professional and successful.

You’ll also need to ensure that there’s enough demand for that service in your local area. As you can imagine, setting up a bodyguarding business in a region where nobody is ever likely to require a bodyguard isn’t ideal.

• Looking up the security businesses that are already operating in your area and finding out what their flagship services are. This will be a good indication of what’s popular – although, you should always strive to stand out from your competitors. Now you know what they offer, think about how you can improve on their offering. How can you give clients an experience that they can’t?
• Running a focus group with local businesses and organisations, asking them what their biggest security needs are. Are there any common threads?

As you might imagine (or already be familiar with if you’ve worked in security), the security industry is fraught with strict regulations and licensing requirements that you’ll have to comply with to operate legally.

To get started safely, follow this checklist:

Obtain licenses from the SIA

In order to run a private security business legally in the UK, you’ll need the relevant licensing from the Security Industry Authority (SIA) .

The SIA offers licenses for a range of security activities, so be sure to apply for all those which cover the services your business will offer.

Before applying for a license, however, you’ll need to prove that you’re adequately qualified in your area of security by completing a training course and earning an SIA-approved qualification. Most training courses last for four days and do contain several exams but, without the qualification, your license application won’t be accepted – and your security business will finish before it’s had the chance to begin.

It’s simply not worth risking running a security business without a license. Doing so can result in you being charged hundreds of pounds – and possibly being dealt community service – by the SIA, along with irreparable damage to your reputation.

It’s worth remembering that any security staff you hire to work for your business will also need to hold the correct SIA licenses. As an employer, it’s not your responsibility to organise training and licensing for your staff – but it is down to you to make sure you don’t send an unqualified, unlicensed person out on a job.

Get insured

Having the appropriate insurance is crucial because it: a) covers your business against a range of potentially costly issues, b) means that you’re complying with statutory requirements, and c) assures your potential clients – most of whom won’t hire a company that isn’t insured – that you’re operating responsibly.

As a security industry professional, you should consider getting:

• Public liability insurance
• Professional indemnity insurance
• Efficacy and contractual liability cover
• Employers liability insurance (a legal necessity if you hire staff)

To make this process easier, try seeking out insurance providers who offer packages tailored specifically to the security industry, providing all the policies you’ll need for your business in one package.

Get certified by standards accreditors

You might also look to apply for accreditations which will show clients that your business and your services meet the UK security industry’s current quality standards.

Such accreditations include:

• SIA ACS (the SIA’s Approved Contractor Scheme)
• Alcumus’ SafeContractor scheme
• CHAS (the Contractors Health and Safety Assessment Scheme)

You could also consider applying to become a member of a security industry organisation such as the IPSA (International Professional Security Association) , which aims to improve and professionalism, quality and training in the security sector.

By joining, you’ll benefit from the IPSA’s experience, knowledge exchange, training and networking opportunities – and show clients that you’re committed to quality.

How much does it cost to start a security company?

In order to start a successful security business, you’ll have to budget for several initial cost outlays, covering legal fees, equipment and more. These include:

Depending on your provider and package, insurance for your security business can cost thousands of pounds – it’s worth shopping around to find one that best suits your needs and budget.

The standard application fee for an SIA license is £220. In most cases, this will be for a three-year license. Fortunately, if you require more than one license from the body, the SIA can offer a 50% discount on your second application fee.

The equipment that you (and your security staff, when you hire them) will need to take with you on a job will depend on the security service that you’re providing. But, in general, you and your staff might find it useful to have:

• A means with of communicating with other security personnel and back office staff – for example; walkie talkies, earpieces and personal microphones, or dedicated mobile phones
• A notebook and pen with which to make note of any incidents that occur
• A digital camera. If there’s no security cameras on site, you may find it useful to have a means of documenting events – although you’ll need to be wary of privacy concerns
• A tool belt to keep all of this in so that your hands are free

If you want your business to appear professional, uniforms are a must. Fortunately, they can be as simple (and inexpensive) as smart shoes, a pair of trousers and a plain polo-shirt with your business’ logo – and possibly the word ‘SECURITY’, depending on whether or not you/your staff will be in public view – printed on it.

You might also want to provide gloves, waterproof coats and woollen hats if your staff are likely to spend a lot of time outdoors in cool temperatures.

Depending on the nature of your business’ services, you might also need to look into specialist items such as high-visibility jackets, bullet-proof and stab-proof vests and cut-protection leather gloves.

Staff salaries

You’ll have to ensure that you pay your staff a fair salary that reflects their experience and skill. At the very least, you’ll need to pay minimum wage.

As a guide, the government’s careers service states that a security officer can expect to earn £13,000 to £16,000 at the start of their career, progressing to around £22,000 with experience, and reaching around £26,000 at a highly experienced or supervisor level.

Of course, the amount you pay your security staff will depend on the service they’re providing – and whether they’re your permanent staff or you’re subcontracting them or hiring freelancers (more on this in section five ).

Of course, you won’t be able to succeed and grow without any incoming revenue – and for that, you’ll need clients.

As a security business, there are a few ways in which you can attract clients to your business…

Launch a website

Before all else, your business will need to launch its own professional website – it’s important to give clients a place to visit so they can read all about you. Plus, the value of popping up on a Google results page when someone searches for local security businesses is undeniable (you’ll need your website to be optimised for search for this to happen).

Unless you have experience in web design yourself, you’ll want to either hire a freelance web designer or invest in using a website builder .

Bid on contracts online

You’ll find that, when they’re in need of security services, some organisations will post the opportunity online in the form of a contract, for security businesses to either bid on or apply for.

Trying to win these contracts can be hugely competitive, with plenty of other security businesses vying to grasp the same opportunity – but it’s a good place to start.

You can search for security contracts online using the government’s contracts finder , visit Tenders Direct’s security section , look at B2B Quote’s listings or more – there are plenty of options!

Contact potential clients

Research local potential clients (organisations, agencies, individuals or events) who you think would benefit from your security services and cold call them.

You’ll need to do your research into each one and learn who’s in charge of making security decisions for that company or individual – that’s the person you’ll want to contact.

Once you’re in touch, be clear about why exactly they would benefit from your services, providing tailored information that’s specific to their needs. You might even inform them of a security issue or a threat facing them that you’ve spotted, and explain how you might solve it (but do make sure it’s an actual problem and not something you’ve made up or exaggerated – scare tactics won’t be appreciated!).

Remember, this is a slow process and you’ll have to put in a lot of legwork. Don’t expect everyone you contact to be interested in your service. The important thing is perseverance – even if your twentieth call is the first to yield results, that’s still a success!

Ask for referrals

As you grow, you’ll find that some of your business will come through word-of-mouth – specifically, clients who you’ve provided an excellent service to will recommend you to their peers.

You can capitalise on this by ensuring that you provide the best service possible, and asking your clients to spread the word about you and tell their peers. You can also flip this on its head by asking for your clients to recommend any peers they have who might be in need of security services to you, so that you can get in touch with them and introduce yourself.

When you start your own security business, you might choose to carry out each contract as a security professional yourself – however, as you grow, it’s likely that you’ll need to employ staff so that your business can take on multiple contracts and provide a thorough service.

Try the following tips to find candidates:

• Contact a local security training school and ask that they share your vacancy among alumni or recommend students to you
• Post a detailed job profile on your website, providing your contact details so candidates can apply
• Post the vacancy to online job seeking websites, such as Indeed or Reed
• Ask friends, family and industry peers whether they know anyone who’d be interested in the role

If paying a permanent salary is too significant an outlay for your business, hiring staff on a freelance basis or subcontracting staff from another security company is a more affordable option for finding staff to help you fulfil a contract.

The qualities you’ll look for in a candidate will depend on the nature of the role you’re looking to fill and the jobs they’ll be working on, but in general, a good security candidate will have:

• A clean criminal background (you’ll need to screen and vet any employees according to the British Standards Institution’s BS7858 standard).
• The appropriate SIA qualifications and licenses.
• Good interpersonal skills and professional conduct. They should be friendly and approachable, but also possess the confidence to make fast decisions, stick to their guns and exercise authority over other people (though how important this is to you will depend on the type of role you’ll have them doing).
• The ability to write clearly and accurately – security officers will often need to write comprehensive reports following jobs.
• Experience in performing the security service that you’re hiring them for, and the capability to use any specific equipment or technology that they’ll need to use.

Launching my security business: what next?

Now you know the initial first steps to take in order to start a private security business, we hope that you feel inspired to get going, and confident that you can make a success of it.

Security is a busy, competitive industry, but by providing a reliable, successful and friendly service to your clients, you can stand out from the crowd. Good luck!

• Getting Started

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Related articles.

How to Start a Security Company in the UK – A Complete Guide

By Marc Loud

Crime levels have risen by 8% over the past three years, so there’s never been a better time to start a security company. You may want to leverage your experience within the industry or are passionate about protecting others following a personal experience of crime. Whatever your motivation, we have a complete guide on how to start a security company in the UK, to help you follow your dream.

Here, you’ll discover why entering the UK security industry can be so profitable. You’ll learn about the different security niches and the rules and regulations surrounding security businesses, and you’ll explore the benefits of a solid business plan. We’ll walk you through each stage of the process, from market research and hiring to insuring your company, keeping you secure as you start your new venture.

The lowdown on the UK security industry

Historically, unsettled times have led to a rise in crime and recent years have not bucked this trend. When the world was plunged into economic crisis following the pandemic, the soaring cost of living was accompanied by an increase in crime rates. In response, businesses and homeowners have been tightening their security, meaning security companies are in high demand. In fact, between 2021 and 2023, the number of people employed within the security industry in the UK rose by 30,000 .

In 2023, well over 10,000 security enterprises were registered in the UK, and private businesses within this sector are forecast to generate £8.8 billion in revenue over the next five years. If you’d like a slice of this growing industry, read on to learn how to start a security company in the UK.

Why move into security?

Security has an excellent track record if you’re looking for a recession-proof business. Indeed, a security company is likely to increase its trade during periods of financial or social crisis.

As energy prices continue to rise, the country remains in debt, and global political unrest contributes to soaring living costs, the UK can expect issues like robbery and cybercrime to increase. The need for enhanced security is only set to rise, making it a great time to get your foot in the door.

A rewarding career that protects individuals and the wider community by driving down crime levels, a security business can be extremely rewarding and financially profitable. Hiring a team with a common goal can create a positive and productive working environment. Often relatively easy to scale, if you nurture a successful business model, you’ll have the opportunity to grow your business locally or even nationally.

Types of security businesses

If you’ve been thinking about how to start a security business, make sure you spend time defining your niche. Security companies in the UK fall into four broad categories:

• Private security companies . These offer specialist services such as security guards and bodyguards, CCTV monitoring, home security, keyholding, event security, cash and high-value transportation, and parking security.
• Cybersecurity . A sector that will continue to grow over time, cybersecurity companies keep the digital data of individuals and companies safe.
• Security consultancies are firms that offer consultancy services to fulfil the security needs of private homes and businesses.
• Security training . Companies that offer comprehensive, safe, and effective security training are the backbone of the industry. From training security guards and bouncers to teaching the latest cybersecurity techniques, a great training facility will always be in demand.

It’s best to move into a category that you have worked in for several years, that you can successfully train in, or can put together a first-class team of professionals who know the niche inside and out.

Starting a security business: Qualifications, rules and regulations

You must familiarise yourself with the legal requirements of starting a security company. Understandably, the security industry is subject to stringent rules and regulations that keep security professionals, their clients, and members of the public safe. To ensure you’re starting and running your new business in line with the UK’s regulations, head to the Security Industry Association (SIA) for full guidance.

SIA Licenses

The SIA governs the UK’s security industry; you must apply for niche-specific licenses for your company’s front-line and non-front-line roles. To obtain a license, your company will need to demonstrate the relevant level of training or qualification.

Industry approved training

Qualifications and training are key in the security industry; your business can’t function legally without them. Find reputable security course providers and double-check with the SIA that the certification will lead to your required license. You’ll need to renew many of your SIA licenses every three years, requiring refresher training.

Accreditation

Beyond the requisite licenses, you may also like to help your business stand out with industry accreditations such as:

• ISO 9001 and ISO 14001
• The SIA’s Approved Contractors Scheme (SIA ACS)
• The Contractors Health and Safety Scheme (CHAS)
• The Alcumus Safe Contractor scheme

Insurance is a crucial consideration when starting a security company. Not only are some forms of insurance a legal requirement in the UK, but you’ll also find most companies won’t hire an uninsured security service. Protecting your staff, clients, and business finances should be a leading concern with innate industry risks faced.

Stay on track with a business plan

Constructing a comprehensive business plan is the perfect way to get yourself organised. Beyond keeping track of your finances and applying for funding, it helps you to think through every stage of the business set-up and launch. A business plan will include:

• Your operational model
• SWOT analysis
• Your vision, values, and mission
• Financial breakdowns
• Market research
• Marketing and sales strategies

Analysing the competition

Planning out your finances is one of the significant benefits of compiling a business plan, but working out where to place yourself within the security industry through market research is equally important to the success of your business.

Understanding what your competitors offer will allow you to hone your unique selling point. There may be numerous local security firms that provide your chosen speciality, so you must work out what makes you different.

Do you and your team have more experience?

Do your staff boast enhanced levels of training?

Is your approach to security unique in some way?

Do you offer services other local competitors don’t?

Rather than simply trying to price yourself competitively, think about selling points that will make you stand out. Remember, clients won’t necessarily think cheaper is better – indeed, a low price point could project a negative image of the quality of your services.

Cost guidelines

When thinking about how to start your own security company, one of the most pressing questions is how much it will cost. The costs involved in setting up a security business vary depending on the niche of the security work, with estimates between £2000 and £20,000. However, most security companies will share the following outlays:

• Insurance – The cost of a security company’s insurance premium depends on the types of cover chosen and the level of coverage taken out. The nature of the risks faced by the business will also impact this cost. For example, a security company that places employees in higher-risk situations will pay more than an office-based cybersecurity firm.
• SIA licenses – You should expect to pay around £220 for each standard SIA license. If your company requires multiple licenses, the SIA often offers a 50% discount on additional licenses.
• Premises – Whether you work from your home office, have staff in an office building, or require a warehouse for your security equipment, there will always be ongoing premise-related outlays.
• Vehicles – You may need to pay for vehicles to keep your business flowing. This could be for staff transport to jobs, consultancy premise visits, or engineers installing security equipment.
• Salaries – The company’s wages will represent a significant proportion of your ongoing costs. You’re legally obligated to pay the UK’s minimum wage, and experienced staff will need to be paid a salary that reflects their skillset and contribution to the success of your business.
• Equipment – The type of security jobs your business performs will dictate the equipment you must purchase. For cybersecurity, you’ll need to kit out on-site staff with office furniture, computers or laptops, and all the relevant security programmes that facilitate your services. If your company provides security guards, they’ll need communications tools (such as mobile phones, walkie-talkies or mics and earpieces), incident record-keeping equipment (such as a tablet, notebook, and camera), and a tool belt to keep their hands free to deal with incidents.
• Uniforms and protective clothing – To paint a professional image of your firm, a uniform sporting your company logo is an important outlay. For public-facing staff, you can supply jackets featuring the word “SECURITY”. Protective clothing could be anything from high-visibility gear to bullet and stab-proof vests, depending on the working environment.

Hiring: How to find the best security professionals

A first-class workforce is vital when starting a security business. It takes a particular type of person to work in security, and it also takes the right type of training. It’s useful to work with experienced security professionals, but as your personal hiring experience grows, you’ll also learn to spot untrained individuals who would fit the role well once they’ve completed the right qualifications.

There are several vital attributes a potential security candidate must have:

• A criminal background check carried out to the British Standards Institution’s BS7858 standard must come back clean.
• The appropriate SIA license(s) or a willingness to undertake training to receive the necessary license(s).
• An authoritative personality balanced with a friendly and calm demeanour. One of the most critical security traits is understanding how to de-escalate situations.
• Good communication skills, both within a working team and with clients or members of the public.
• Excellent report-writing skills to accurately document incidents that may need to be passed on to the police or used to make an insurance claim.

You need to know where to look for security staff, especially if you want good retention rates. Posting jobs online can attract plenty of applicants, but you must become proficient at spotting suitable candidates—otherwise, you’ll lose many hours to unsuccessful interviews. When you post a job description online, be very specific regarding the experience, qualifications, and licenses or skillset you require.

Security training schools can be a good source of well-trained and motivated individuals. If you build a good rapport with the school, they can recommend graduates keen to make a career in security.

Finding clients

With all the previous steps and considerations in place, it’s time to start looking for clients. Having experience in the industry will undoubtedly help you attract clients, but if you’ve previously been an employee of a security company, contractual non-compete restrictions may prevent you from accessing certain clients for some time. You could, however, ask for referrals, and these will become the bread and butter of your growth as your good reputation blossoms.

Build your website

To attract new clients, curate a positive online presence. A business website allows you to tell your company’s story and detail your services. When someone is looking for security for their home, business, or event, they aren’t making an impulse purchase. Therefore, your website should provide precise details of what you offer and why your company does it best.

Use social media platforms linking to your website to help clients get all the necessary information.

Cold contact

When first starting your security company, you don’t wait for clients to come to you. Identify businesses that could benefit from your services and cold call or email them. Tell them how you could help them and even offer an introductory discount. For the best results, do your research and find out who in the company will make decisions regarding security, directing your call or email to them.

Tailor your approach. Learn about the company, identify threats they may face, and approach them with solutions to these.

Insuring your new security business

A tailored insurance policy is one of the most essential requirements for starting a security company in the UK. Failure to take out the right insurance could be a costly mistake. The nature of the job means incidents can and do occur. If you don’t have insurance coverage, you will be liable to pay for any successful claims made against you by clients, members of the public, or employees.

There are three key areas of cover you need to consider:

Employer’s liability – If you hire staff (who aren’t direct members of your family), you must take out at least £5 million in employer’s liability coverage. This will cover any claims made against you by staff members who are injured or have become ill due to their security work with your company.

Public liability – Because your company may encounter members of the public either directly or indirectly during business operations, public liability cover should be considered a necessity. If a member of the public is injured or their personal property is damaged by one of your employees or an item of your equipment, they could make an expensive claim against you. A club attendee could slip and hurt themselves as one of your guards escorts them from the venue, or their expensive handbag strap could be broken in the process.

Professional indemnity – If you’re starting a security company that offers services or advice, be ready to deal with claims when these go wrong. If you or an employee makes a mistake during your security work that costs your client money, they can claim compensation. If your cybersecurity system fails or a security guard allows damage to occur on their watch, you can call upon this cover should the client claim for their associated losses.

Now that you’ve seen what it takes to legally set up and market a security company, you need to protect all this hard work. Park Insurance has been protecting small businesses for over 30 years. Specialising in creating tailored policies that meet the unique needs of your security business, Park Insurance works with you to provide a policy that offers complete peace of mind.

Give one of our friendly insurance experts a call today to see how we can keep your business secure as you protect the security of others.

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Guide to starting Your Security Business

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Once you have worked in security for some time and gained skills and experience, the opportunities are endless. You could even become the boss of your very own security business!

In this blog, we’ll look at how you can do that, but let’s first discover why the security industry is booming despite an economic downturn. 

Ever since the pandemic restrictions in the UK ended, the security industry is now in high demand. A cost-of-living crisis has meant there are more robberies and burglaries. In short, businesses need to protect their assets when the chips are down like they currently are, and the security industry always does well, even in a recession. Now is a perfect time to capitalise on the demand for security and start up a security business. 

Here are the steps you’ll need to take to set up a security business in 2023. 

Find your niche

First of all, you need to decide what type of security you will offer. There are several services you could provide. You may have experience in many sectors, or if you have the most experience in one sector, that would be your natural fit. However, you do need to research whether there is local demand and potential clients that want and need your security service. Options include:

• Manned security guards
• Mobile patrols
• Guard dog handlers
• Door supervisors
• Event security
• Close protection bodyguard
• CCTV monitoring 
• Vehicle parking security
• Key holding response

You may also choose to provide your service to a particular sector, such as residential or commercial, or provide services to clients in an exact geographical location. 

Get your licence

To run a private security business, you’ll need an SIA licence. If you’ve been working in security, this is just the standard SIA licence you keep up-to-date every three years by attending your top-up training. It might be a door supervisor or security guard licence, but you must have that; otherwise, you can be fined and prosecuted further. There are, however, no special additional courses you need to take to run a security company. It is your obligation to check that anyone that you employ also has a valid SIA licence. If you send an unlicensed guard out to work from your company once again, there could be severe penalties, not least the damage to your company’s reputation. 

Get insured

You must obtain insurance when you run a private security business. Unfortunately, it’s a business where things could go wrong. In the event of some accident, it’s essential that you cover yourself for liabilities. You will also find that if companies know you are not insured, they will not use your service. 

The types of insurance applicable to a private security firm include:

• Public liability insurance
• Employers liability insurance (a legal necessity if you hire staff)
• Efficacy and contractual liability cover
• Professional indemnity insurance

All of this can seem daunting, but if you contact an insurer that specialises in the security industry, they will be able to provide you with a package that covers your needs and business liabilities. 

Decide on a business model

In terms of a business model, there are three main paths you could go down. You could buy an already existing security firm. If the business has staff, premises, branding, and a customer base and is making money, this could be a good option. However, this is also an expensive option. You could consider franchising which also has benefits such as branding and training. 

Alternatively, the cheapest option would be to set up a new business. But to do this, you will have to work hard to get a loyal customer base so that the business thrives. 

Write a business plan

A business plan is a must for a new business, and you will certainly need one if you wish to secure funding from a bank. A business plan contains many elements, such as information about yourself, your experience, skills and education. A business plan should also cover an overview of your business with covers a name, operational model, and SWOT analysis, along with your business vision, mission and values. Other things that should be included in a business plan include details of finances, market research, sales strategy and pricing. 

Secure funding and manage your finances

Launching a security business will require a certain level of funding to cover costs such as rent for premises, vehicles, uniforms, staff wages, marketing, branding and a website. When you have calculated what budget you need, you must also calculate what business you will need to bring in and create a three-year forecast. Funding might come from personal savings, friends and family or bank loans. If you are borrowing money from a bank, you will need to provide the loan approver with your business plan and how you expect to be able to repay the loan and the interest. 

Going forward, you must ensure you have a business bank account where you can pay suppliers and be paid. Late and unpaid invoices have ruined many fledgling businesses. Ensure you only work with credit-checked good payers and set up a system such as direct debit retainers so that you are not chasing late and non-payers. 

Create a marketing strategy

To begin with, you need to consider branding and a name. For example, “Steve’s Security” is unsuitable for this industry. The logo and the branding should be serious and professional. You will see from the top 20 UK security companies that security business names often include UK, Group, Services, or Security. Words such as Knight, Shield, and Kingdom also have a serious but professional meaning around protection. 

All your logo and branding should be consistent across business cards, your website, business cards, vans, and uniforms. Drawing up a buyer persona of your typical client can help you better understand and target your services to their needs. 

Develop a sales strategy

You must develop a sales strategy to get your name out to potential customers. You could target your ideal clients and get out there by pitching your services face-to-face with industry decision-makers. This can often involve a lot of calls, research, and emails before you get that all-important meeting. 

Using the Get Licensed platform is also a great way to network a new security business and pitch your services to clients in the industry. 

Hire and train staff

Of course, you can’t run a business without staff. It might be that because of your experience in the industry, you might know people who will work for you. However, when the business starts rolling in, you’ll need a cost-effective way to find quality SIA-licensed staff. That is where Get Licensed can help. The Get Licensed job board is the perfect place to post a vacancy and get it filled fast.  

Because the Get Licensed job board is purpose-built for the security industry, you’ll find it far more effective than larger job platforms such as Indeed and Reed. In a trial, it was found that Get Licensed attracted more than four times the candidates than other competitors. And while Reed, Indeed and CV Library took 5-18 hours for applicants to apply, Get Licensed provided candidates within 12 minutes of posting a vacancy.  

This means there is far less logging out and logging back in to see if anyone has responded to an urgent vacancy. And that could make the difference between you doing business and not. 

You’ll also benefit from tons of features using the Get Licensed job board. You will get notifications when applicants apply, there are CVs, including video profiles, and we check all the SIA licence details ourselves, so you don’t have to. You will get your own dedicated account manager, and when you set up your account, you can post your first ten vacancies for free. This could be a significant boost to a new business when trying to keep your costs to a minimum before your first invoices are paid. 

It’s no easy feat to set up a security business, but with experience and contacts in the security industry and using this step-by-step guide, you could be your own boss. Get Licensed is a great networking tool for those wanting to meet clients and staff, and our blog will keep you updated with all the security industry news, so stay connected! 

Start your career now with our courses!  Click here to begin .

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How to Start a Security Company: A Business Guide

Powerful integrations

Backed by industry standards

The private security industry in the UK had an estimated turnover of £4.1 billion in 2018 , with the number one ranked security firm making £784 million in revenue.

Once known solely for nightclub bouncers, the industry has massively diversified and is now occasionally referred to as the UK’s “fourth emergency service”. The industry is closely regulated by the Security Industry Authority (SIA) and includes companies that operate in specific niches. These include manned guarding, cash and valuables in transit, close protection (body guarding), door supervision, public space surveillance (CCTV), security guarding and key holding.

The broadening of the industry’s responsibilities, paired with a reduction in police numbers, has seen an increase in growth in the past few years that shows no signs of slowing down. The SIA regulates over 300,000 individuals in the private security industry and issues more than 100,000 licences per annum.

If you are passionate about providing clients with exceptional security services and are looking at how to set up a security company from scratch, then this article is for you.

Our step-by-step guide on how to start a security company includes the following:

Decide on the type of security you’ll provide, consider your business model, write a business plan, know the legal requirements, secure funding, manage your finances, create a marketing strategy, develop a sales strategy, hire and train employees.

• Manned security guards
• Close protection bodyguards
• Door supervisors
• Guard dog handlers
• Mobile patrols
• Key holding response
• CCTV monitoring and home security alarms
• Vehicle parking security
• Event security

As a new start-up, specialise in one area that you know well to ensure you provide an excellent service. Building your reputation in one niche can then lead to growth across other disciplines.

You can also narrow your services down to provide security for residential or commercial properties and businesses, or to individuals. As well as to target customers in either the private or public sector.

Location is also very important to consider. You need to identify where your services are required. For example, bodyguards might be in higher demand in major cities, whereas CCTV monitoring could be more popular in remote, out-of-town industrial estates.

Once you’ve nailed down your private security niche, consider the right business model for you.

This could be opting for a security franchise. Through a licensing arrangement you’ll benefit from existing infrastructure, branding, training and relevant coaching. There is also guidance on best practices and customer service. A well-established franchise will also help you to secure customers.

There is also the opportunity to buy an existing private security business. Acquiring an established company comes with the benefits of an existing customer base, reputation and potentially loyal employees and readymade premises.

Or you can launch a new business. You’ll have complete control and be responsible for making all the decisions. This will suit those who have a specific vision and are prepared to invest a lot of time in realising it.

A business plan should include the following information:

• more about you – your experience in the industry and career background, your relevant qualifications, and your existing contacts
• overview summary of the business – your business name, services, customer targets and operational model. It should also include your business mission, vision and values as well as a SWOT analysis to identify strengths, weaknesses, opportunities and threats
• finances – how you plan to finance your business, sales forecasts and launch budgets
• detailed overview of your services – pricing, how you’ll carry out the services, sales strategy, legal and insurance requirements, policies and procedures, growth potential
• market research – desktop research into the security industry market (e.g. online searches and reading relevant media), field research into your ideal customers (e.g. interviews or questionnaires), target customer analysis, competitor analysis
• marketing and promotion plan – how you’ll raise awareness of your new business and attract customers

There are many online resources to assist you with writing a business plan, including easy-to-follow templates. Set aside dedicated time to complete your business plan, it isn’t a quick task but it is a critical one.

According to the SIA :

“There are two aspects to private security industry regulation.

“The first is compulsory licensing for individuals operating within the private security industry. This helps ensure that those working within the industry are fit and proper persons who have received adequate vocational training for the role they perform.

“The second aspect is the Approved Contractor Scheme (ACS). This 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.

“Approved Contractors are demonstrably committed to customer service and the compulsory licensing of their staff. This means that customers can be assured that private security operatives that an Approved Contractor deploys on their premises will be working within the law.

“As well as giving purchasers confirmation of the quality and standards that they can expect of Approved Contractors, the ACS will provide confidence and reassurance to wider stakeholders such as the public, police, employees and the local community.”

This means that you, and every employee you hire, must have the relevant training and qualifications to carry out their jobs in order to get an SIA licence. For example, there are specific qualifications for door supervisors as well as for dog handlers. You can see a list of training requirements here .

To be accepted into the ACS, you must prove your business follows certain standards. There is more information about applying here .

As well as the SIA licence and ACS, there are also a number of accreditations that you and your business can take that demonstrate you meet the UK security industry’s quality standards. These can include:

• SafeContractor scheme
• CHAS (Contractors Health and Safety Assessment Scheme)

Setting up any new business requires a significant investment.

From the outset you should know exactly how much money you require to launch your private security business and how much money you’ll need to make each month, quarter, or year, to cover your regular outgoings and make a profit.

The launch budget should include all expected expenses including premises rent, staff training costs, insurance, uniforms, specialist equipment, printing business cards etc. You should also map out your sales forecasts for the first three years as well as appropriate time periods, such as monthly.

Once you have these figures, then you’ll know what funding you need to secure in order to get your business up and running. You might use personal savings, private loans from family and friends, bank loans, loans from specialist providers, or a combination of all of these.

A well written business plan will help you to secure funding from banks and specialist providers.

Setting up a secure and efficient method to manage your finances from the beginning will ensure your security services firm soars rather than stumbles.

Repetitive financial admin can bog down even the most successful companies and drain time from employees. Therefore, either outsource to an accountant or use accountancy software to track your income and expenditure, manage invoices, register payments and calculate your cashflow.

Open a business bank account and plan how you’ll take payments from your customers and how you’ll pay suppliers. If your clients pay you a recurring fee, then consider using Direct Debit to automatically collect their payments each month.

An important part of our ‘ How to Set Up a Security Company ’ Guide is creating a marketing strategy. There is little point launching a new business without telling anyone about it.

You need to first consider the branding. This should include a memorable name and an eye-catching, professional logo. The logo can then be used on all marketing materials such as business cards, uniforms and vans, as well as your website and any promotional activity.

Your marketing strategy should include tactics for approaching the right audience with an appropriate message. These tactics could include digital or print media advertising, email marketing, direct mail or social media.

As part of your business plan, you should have identified who your target customer is and what magazines they read or where they look for new security suppliers. This information should be used to full effect in your marketing plan to raise awareness of your business and it’s offering.

Your marketing strategy will get your name out into the world and drive enquiries. This will form a part of your sales strategy. You should also consider more proactive methods to secure customers.

This could include bidding on security contracts. The bid might include written proposals and cost overviews. It might also include face-to-face meetings and pitches.

You can also draw up a list of dream clients and approach them directly with information about your offer and services. This could be in the form of scheduled meetings with key decision makers, posted letters, phone calls or emails. Networking at appropriate industry events will also enable you to get in front of potential clients.

Referrals are also a great way to boost custom. You can ask satisfied customers to refer you to other companies that might require a similar service, or set up a referral scheme with a complementary business.

It’s unlikely that you’ll be able to carry out all of your business’ services on your own and at some point you’ll need to take on personnel.

Staffing is a significant cost outlay, so invest time into hiring the right employees at the right time. Recruitment is costly to every business, so carefully considering job descriptions, salary, qualification must-haves and past experience requirements will help to save you money in the long term.

All frontline security staff must have the relevant SIA qualifications and licences, so either recruit individuals who already have these or put a plan in place for training. Or if you are looking for an office assistant then research the relevant qualifications they should have and specify in your job profile.

You’ll also need to run background checks on potential security staff to confirm they have a clean criminal background. A thorough vetting process at the start means you’ll hire the most suitable staff and not be fined or experience any issues further down the line.

You can find candidates in a number of ways:

• Posting about the vacancy on your website and across any social media or email marketing channels
• Asking your business network, as well as friends and family if they know anyone suitable
• Adding the vacancy to general recruitment websites e.g. Indeed
• Advertising the vacancy in industry trade media or local newspapers
• Contacting local training establishments that offer relevant security courses to share with newly qualified students or alumni

If you are scaling up rapidly or have won a short-term contract, then you can look at using freelancers or contractors on a temporary basis rather than employing permanent staff.

And that’s how to set up a security company!

So, now you know how to start a security company with our nine-point guide, why not turn your passion for providing exceptional security services into a thriving business and get started today.

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Free Security Business Plan Template

A successful security business is based on a solid business plan. To help you out, we've designed a business plan template PDF specifically for security business owners. Get your copy today!

How can a security business plan help you?

A solid business plan acts as your strategy guide for building a successful security business.

Whether you're an existing security business or just starting out, a business plan helps you get organised.

Use a business plan to help secure funding for your security business.

Get your free security business plan template:

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How To Write a Business Plan For a Security Company + Template

Creating a business plan is essential for any business, but it can be especially helpful for security companies who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every security company  owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Security Company Business Plan?

A security company business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Security Company Business Plan?

A security company business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Security Company Business Plan

The following are the key components of a successful security company business plan:

Executive Summary

The executive summary of a security company business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your security company .
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your security company , you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your security company , mention this.

Industry Analysis

The industry or market analysis is an important component of a security company business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

• What part of the security company industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, customers of a security company may include:

• Small businesses
• Large businesses
• The military or other government organizations

You should also include information about your target customer’s buying habits. What are their purchasing decisions based on? How often do they purchase your type of product or service?

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those who might be influenced to buy your security company services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

• Product/Service : Detail your product/service offerings here. Document their features and benefits.
• Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your security company via PR, by doing speaking engagements or other events, or by getting involved with industry associations.

Operations Plan

This part of your security company business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a security company include reaching $X in sales. Other examples include adding new services, hiring new employees, opening new locations, and so on.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific security company industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup Security Company

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : What you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Security Company

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup security company .

Sample Cash Flow Statement for a Startup Security Company

You will also want to include an appendix section which will include:

• Your complete financial projections.
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.).
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your security company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it. A business plan is also a necessity when seeking funding from investors or lenders.  

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Here is a free business plan sample for a private security company.

If the idea of starting your own private security company ignites your entrepreneurial spirit, but you're unsure of the first steps to take, you've landed in the perfect spot.

In the content that follows, we will present to you a comprehensive sample business plan tailored for a private security company.

As you might be aware, a meticulously formulated business plan is a cornerstone of success for any business owner, as it outlines your mission, objectives, and strategic approach to carving out your niche in the security industry.

To craft a robust plan with ease and precision, you can utilize our private security company business plan template. Additionally, our specialists are on hand to provide a free review and refinement of your plan.

How to draft a great business plan for your private security company?

A good business plan for a private security company must address the unique challenges and opportunities of the security industry.

To start, it's crucial to provide a comprehensive overview of the security market. This includes current statistics and the identification of emerging trends within the sector, as illustrated in our private security company business plan template .

Your business plan should articulate your vision clearly, define your target market (such as residential communities, commercial entities, event organizers), and establish your company's unique value proposition (specialized services, advanced technology, highly trained personnel, etc.).

Market analysis is a key component. This requires a thorough understanding of the competitive landscape, potential threats, client needs, and industry regulations.

For a private security company, it is imperative to detail the services you intend to provide. This could range from armed and unarmed guards to surveillance systems, risk assessments, and executive protection services. Explain how these services cater to the specific security concerns of your clientele.

The operational plan must be meticulously crafted. It should outline the company's operational headquarters, the structure of the security teams, equipment procurement, and the protocols for responding to security incidents.

Given the nature of the industry, a strong emphasis should be placed on the qualifications and training of your security personnel, adherence to legal and ethical standards, and the implementation of robust security measures.

Discuss your marketing and sales strategies. How do you plan to build trust with potential clients and maintain long-term relationships? Consider your approach to branding, client engagement, and service diversification.

Utilizing digital tools, such as a professional website and an active social media presence, is also vital for credibility and client outreach in the modern marketplace.

The financial plan is a cornerstone of your business plan. It should include your startup costs, projected revenue, ongoing expenses, and the point at which you expect to break even.

In the security business, managing cash flow is critical, as contracts may have long payment cycles. Therefore, a thorough understanding of your financials is essential. For assistance, refer to our financial forecast for a private security company .

Compared to other business plans, a private security company's plan must pay special attention to legal compliance, insurance requirements, and the continuous training and certification of security personnel.

A well-crafted business plan will not only help you clarify your operational and growth strategies but also serve as a tool to attract investors or secure loans.

Lenders and investors are looking for a comprehensive market analysis, realistic financial projections, and a clear plan for day-to-day operations and crisis management.

By presenting a detailed and substantiated business plan, you showcase your professionalism and dedication to the success of your security company.

To achieve these goals efficiently, you can start with our private security company business plan template .

A free example of business plan for a private security company

Here, we will provide a concise and illustrative example of a business plan for a specific project.

This example aims to provide an overview of the essential components of a business plan. It is important to note that this version is only a summary. As it stands, this business plan is not sufficiently developed to support a profitability strategy or convince a bank to provide financing.

To be effective, the business plan should be significantly more detailed, including up-to-date market data, more persuasive arguments, a thorough market study, a three-year action plan, as well as detailed financial tables such as a projected income statement, projected balance sheet, cash flow budget, and break-even analysis.

All these elements have been thoroughly included by our experts in the business plan template they have designed for a private security company .

Here, we will follow the same structure as in our business plan template.

Market Opportunity

Market data and figures.

The private security industry is a robust and essential sector with significant growth potential.

Recent estimates value the global private security services market at over 180 billion dollars, with expectations for continued expansion due to rising security concerns and the increasing complexity of threats.

In the United States, there are over 10,000 private security companies, contributing to an annual revenue of approximately 46 billion dollars for the industry.

These figures underscore the critical role private security companies play in safeguarding assets, infrastructure, and individuals, as well as their substantial contribution to the economy.

The private security sector is experiencing several key trends that are shaping its future.

Technological advancements are leading the way, with the integration of artificial intelligence, cybersecurity measures, and advanced surveillance systems becoming more prevalent.

There is also a growing emphasis on specialized training and higher standards for security personnel, reflecting the industry's response to more sophisticated threats.

Private security firms are increasingly offering comprehensive solutions that include risk assessment, security consulting, and emergency response planning.

The rise of smart cities and the Internet of Things (IoT) is creating new opportunities for security integration, while also presenting unique challenges in terms of data protection and privacy.

Moreover, the demand for private security services is expanding beyond traditional markets, with sectors such as healthcare, education, and retail seeking enhanced security measures.

These trends indicate a dynamic evolution of the private security industry, as it adapts to the evolving needs of a modern society.

Success Factors

The success of a private security company hinges on several critical factors.

Reputation for reliability and effectiveness is paramount. Clients trust security firms that consistently deliver high-quality services and demonstrate professionalism.

Investment in the latest technology and equipment can provide a competitive edge, enabling companies to offer advanced security solutions.

Strategic partnerships and networking are also vital, as they can lead to new business opportunities and collaborations.

Well-trained and certified personnel are the backbone of any security operation, emphasizing the importance of ongoing education and development programs.

Lastly, adaptability to changing security landscapes and regulatory environments ensures that a security company can meet the diverse needs of its clientele and maintain compliance with industry standards.

The Project

Project presentation.

Our private security company project is designed to address the increasing need for personal and property protection in a world where safety concerns are on the rise. Strategically located to serve high-demand urban areas, corporate centers, and residential communities, our company will offer a comprehensive range of security services, including on-site guards, mobile patrols, surveillance systems, and risk assessment consultations.

We will prioritize the integration of advanced security technology with highly trained personnel to ensure the safety and peace of mind of our clients.

Our private security firm is poised to set a new standard in protection services, aiming to be recognized as a trusted and reliable partner in safeguarding assets, properties, and individuals.

Value Proposition

The value proposition of our private security company lies in our commitment to providing top-tier, customized security solutions that cater to the unique needs of each client. We understand the importance of feeling safe and secure in one's environment, whether it be at work, home, or during leisure activities.

Our dedication to employing the latest security technologies, combined with our team of expertly trained security professionals, ensures a proactive approach to threat detection and response. We offer peace of mind, knowing that our clients' safety is in capable hands.

We are dedicated to fostering a sense of security within the community and are committed to being a leading force in the private security industry, enhancing the well-being and protection of our clients.

Project Owner

The project owner is a seasoned security specialist with a comprehensive background in both law enforcement and private security operations.

With a track record of successfully managing security teams and implementing effective security strategies, he brings a wealth of knowledge and expertise to the table. His dedication to the field is driven by a deep understanding of the evolving security landscape and a commitment to innovation in protective services.

With a strong vision for community safety and client satisfaction, he is determined to establish a private security company that stands out for its professionalism, reliability, and excellence in service.

His leadership and passion for security are the cornerstones of this project, aiming to deliver unparalleled protection services and contribute to the overall safety of the community.

The Market Study

Market segments.

The market segments for this private security company are categorized into distinct groups.

Firstly, there are corporate clients who require security services to protect their assets, employees, and operations. This includes businesses of all sizes, from small startups to large multinational corporations.

Secondly, residential communities such as gated neighborhoods and apartment complexes seek security services to ensure the safety of their residents and property.

Additionally, the market encompasses event organizers who need security for crowd control, VIP protection, and general safety during events ranging from concerts to corporate conferences.

Lastly, high-net-worth individuals who require personal protection services form a niche but significant segment of the market.

SWOT Analysis

A SWOT analysis of this private security company project highlights several factors.

Strengths include a team of experienced security professionals, state-of-the-art security technology, and a strong reputation for reliability and effectiveness.

Weaknesses may involve the high costs of maintaining cutting-edge security equipment and the challenge of recruiting and retaining highly skilled personnel.

Opportunities can be found in the growing demand for private security services due to rising security concerns, as well as the potential to expand into new markets and services such as cybersecurity.

Threats could consist of intense competition from established security firms, regulatory changes, and the potential for economic downturns affecting clients' security budgets.

Competitor Analysis

Competitor analysis in the private security sector indicates a highly competitive environment.

Direct competitors include other private security firms offering similar services, ranging from multinational companies to local agencies.

These competitors vie for contracts by demonstrating their expertise, reliability, and cost-effectiveness.

Potential competitive advantages for our company include specialized services, superior client relations, advanced technology implementation, and a robust training program for security personnel.

Understanding the strengths and weaknesses of competitors is crucial for carving out a unique position in the market and for client acquisition and retention.

Competitive Advantages

Our private security company's competitive edge is rooted in our unwavering commitment to client safety and satisfaction.

We offer a comprehensive suite of security services, including armed and unarmed guards, surveillance systems, and risk assessment, all tailored to meet the specific needs of our clients.

Our proactive approach to security management, which includes continuous training for our staff and investment in the latest security technologies, sets us apart from the competition.

We also emphasize strong communication with our clients, ensuring transparency and trust in our security measures and protocols.

You can also read our articles about: - the customer segments of a private security company - the competition study for a private security company

The Strategy

Development plan.

Our three-year development plan for the private security company is designed to establish a strong market presence.

In the first year, we will concentrate on building a solid client base by providing exceptional security services and establishing trust within the local community.

The second year will focus on expanding our services to include advanced security technology solutions and training programs, as well as extending our reach to neighboring regions.

In the third year, we aim to solidify partnerships with governmental and corporate entities and diversify our service offerings to include cybersecurity measures.

Throughout this period, we will prioritize the continuous training of our personnel, adherence to the highest security standards, and the implementation of cutting-edge security technology to ensure the safety and satisfaction of our clients.

Business Model Canvas

The Business Model Canvas for our private security company targets residential, commercial, and corporate clients in need of reliable security solutions.

Our value proposition is centered on providing a comprehensive range of security services, including manned guarding, surveillance systems, and risk assessment, all tailored to the specific needs of our clients.

We deliver our services through on-site security personnel, remote monitoring, and security system installations, utilizing our key resources such as a trained security workforce and advanced security technology.

Key activities include security audits, continuous personnel training, and client relationship management.

Our revenue streams are generated from contractual security service agreements, while our costs are mainly associated with personnel, technology investments, and operational expenses.

Find a complete and editable real Business Model Canvas in our business plan template .

Marketing Strategy

Our marketing strategy is built on reputation and reliability.

We aim to establish our brand as a symbol of safety and professionalism. Our approach includes targeted marketing campaigns, community engagement initiatives, and showcasing our expertise through security workshops and seminars.

We will also develop strategic alliances with local businesses and law enforcement agencies to enhance our service credibility.

Additionally, we will leverage social media and professional networking platforms to reach a wider audience and demonstrate our commitment to security and client peace of mind.

Risk Policy

The risk policy of our private security company is to proactively manage risks associated with security breaches, personnel safety, and client confidentiality.

We implement rigorous training programs and adhere to strict operational protocols to mitigate security risks. Our personnel are vetted thoroughly and receive ongoing training in the latest security procedures.

We conduct regular security audits to ensure the effectiveness of our services. Furthermore, we maintain a robust financial strategy to manage costs and ensure business sustainability.

We are fully insured to protect against liabilities that may arise from our security operations. Our priority is to provide top-tier security services while safeguarding the interests of our clients and employees.

Why Our Project is Viable

We are committed to establishing a private security company that addresses the growing demand for personal and property safety.

With our focus on quality service, client-centric solutions, and technological innovation, we are poised to become leaders in the security industry.

We are enthusiastic about contributing to the safety and security of our clients while building a reputable and profitable business.

We remain adaptable to the evolving security landscape and look forward to a future where our company is synonymous with trust and protection.

You can also read our articles about: - the Business Model Canvas of a private security company - the marketing strategy for a private security company

The Financial Plan

Of course, the text presented below is far from sufficient to serve as a solid and credible financial analysis for a bank or potential investor. They expect specific numbers, financial statements, and charts demonstrating the profitability of your project.

All these elements are available in our business plan template for a private security company and our financial plan for a private security company .

Initial expenses for our private security company include the cost of obtaining necessary licenses and permits, purchasing security equipment such as surveillance cameras and alarm systems, investing in reliable transportation vehicles, uniforms, and other gear for security personnel, as well as expenses related to brand creation and launching targeted marketing campaigns to establish a presence in the market.

Our revenue assumptions are based on a thorough market analysis of the demand for private security services, taking into account the increasing need for personal and property protection in our target area.

We anticipate a steady growth in client contracts, starting with a conservative client base and expanding as our reputation for reliability and professionalism strengthens.

The projected income statement reflects expected revenues from our security services, operational costs (equipment maintenance, personnel wages, fuel), and administrative expenses (office rent, marketing, insurance, etc.).

This results in a forecasted net profit that is essential for assessing the long-term viability of our security business.

The projected balance sheet displays assets specific to our operations, such as security equipment, vehicles, and liabilities including loans and anticipated operational costs.

It provides a snapshot of the financial standing of our private security company at the end of each fiscal period.

Our projected cash flow statement details the inflows and outflows of cash, enabling us to predict our financial requirements. This is crucial for maintaining solvency and ensuring that we can meet our operational needs without interruption.

The projected financing plan outlines the sources of funding we intend to tap into to cover our initial outlays.

The working capital requirement for our private security company will be diligently managed to ensure we have sufficient funds to support our day-to-day activities, such as payroll, equipment purchases, and vehicle maintenance.

The break-even analysis for our venture will show the volume of service contracts needed to offset all our costs, including the initial investments, and begin generating profits.

It will signal the point at which our company becomes financially sustainable.

Key performance indicators we will monitor include the profit margin on our security services, the current ratio to evaluate our ability to meet short-term liabilities, and the return on equity to gauge the profitability of the shareholders' investment in our firm.

These metrics will assist us in gauging the financial health and success of our private security company.

If you want to know more about the financial analysis of this type of activity, please read our article about the financial plan for a private security company .

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Private Security Company Business Plan Template

Published Mar.20, 2017

Updated Apr.23, 2024

By: Jakub Babkins

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Table of Content

Do you want to start a Private Security business plan?

Security is one of the biggest concerns in the world right now. It has always been important to keep not only valuable items but also information secure and out of the wrong hands. Therefore, there is a significant need for investment in the business plan related to private security firms. 

Developing a business plan for a security company involves much more than coming up with a cool slogan. Much like a window cleaning business plan , you will need to learn how to write a business plan for a security company. 

Here, we are presenting the business plan for Diamond Phase, a private security firm. You can use this business plan to develop a plan for your own business. So, whatever the scale of your business, this template can act as a great help to design a successful business model.

Executive Summary

2.1 about the business .

Diamond Phase will be a security firm started by Jacque Hail. The firm will provide help with business planning process for security systems in different residential and commercial sectors. The company will offer a wide range of services, from securing full-fledged security systems for whole buildings to offering small-scale security services for a particular office or space. 

2.2 Management of Private Security Firm

Business plans for security companies need to be very thorough as they provide a very important service. The business needs to be well-managed to ensure proper functioning after the launch. This can be achieved through a security company business plan template like the one given here. 

You can also refer to professional business plan services to get an operational plan developed. If you possess some experience and you want to develop your plan on your own, you may take guidance from this security guard company business plan. 

2.3 Customers of Private Security Firm

The customers of Diamond Phase will belong to different scales of operations. As such, our customers for a basic business plan security are as follows:

• Residential Community
• Small/ Large Businesses
• Jewelry Stores
• Highly Sensitive Areas

2.4 Business Target

The target of Diamond Phase is to establish itself as a major player in the private security business in Portland. We want to be known as the most efficient security solution in Portland within two years of the launch. 

Furthermore, the financial targets we want to achieve within five years of operation are as follows:

Company Summary

3.1 company owner.

The owner of the company will be Jacque Hail. Jacque worked as a security manager in a top security firm for two years. Before this, he attained his education in computer forensics and networks. He realized that he could utilize his experience and education to start a new security firm of its kind. And thus, Diamond Phase was ideated. 

3.2 History of Diamond Phase

While working as a security manager, Jacque saw that a lot of his clients required not only physical security measures but also computer network safety. Considering the rapid increase in the penetration of technology in every sector of the market, Jacque decided to present a business model that improved upon existing physical and computer security businesses. 

3.3 How the Private Security company will be started

Step1: Ideate the Business

The first part of any security business plan sample is the description of the company that you are trying to start. Nothing happens without an idea. Therefore, Jacques decided to build on his dream and create a concrete idea for his business plan of a security company.  

Step2: Research and Analysis

The next step to starting a business is to look into your market. This will help you filter out your major competitors and entry points in the market which can help you get ahead in the competition. As part of this security company business plan pdf, Jacque did comprehensive research about the security industry to identify his competitors. 

Step3: Register the Business  

Once Jacque knew that his business idea was viable, he looked into as many security company business plan examples as he could to learn the process of registration. He not only registered the company name to the state but also registered the space for a main office in the Portland commercial center.

Step4: Go Online

One of the best ways to advertise a business is through online ads and social media. Therefore, Jacque decided to hire a sales team with a social media sub-team to help with advertisement and the online existence of the company. 

Step5: Know Your Finances

Another important part of any business plan, even a plumbing company business plan, is the financial planning of its operations. To manage this, Diamond Phase will have a financial plan developed by a business consultancy firm.

Services 

The services of a business are its basis and the reason it exists. Before you start writing business plan for a security service company, you need to be very clear about the types of services you will be offering. This will not only help you to properly write a business plan for a private security company but also guide you throughout the operational years of your business. 

To write a private security business plan for his company, Jacques decided to lean back on his market research. It is because he knew that each sample business plan for security services decides its services according to market needs. From this research, he decided upon a list of services to include in this template to learn how to start a security company pdf. 

The general services for a private security firm are listed below. Some of these are identical to those mentioned in the locksmith business plan .

• Security Guards

The biggest service offered by Diamond Phase will be to provide teams of security guards for the maintenance of a manual security system in a commercial or residential area. The number and requirements of these guards will be agreed upon by the company and its clients. The guards will be hired and trained by the company and will work on a contract basis for our customers. 

• Automated Setups

Many places don’t require huge teams dedicated to security. For instance, security concerns in residential areas and homes can be handled by automated systems with just one physical team on site. To promote the efficient use of resources, Diamond Phase will provide state-of-the-art automated security systems to its customers. 

Not only will the company provide trained security personnel, but it will also provide training for the guards hired by our customers. The customers can hire us to provide regular sessions for proper training of their staff in electronic as well as manual security niche. 

• Network Security

As part of its hybrid business model, Diamond Phase will offer not only physical and automated security but also network security and maintenance personnel if needed by its data-sensitive clients.

Marketing Analysis of Private Security Company

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A security guard business proposal needs to contain everything from the preliminary idea of the business to the basic viability guarantees of the business. To establish a security business star up , you will need a comprehensive security systems business plan that contains all the details to make the business viable for existence. 

For his business plan for a security company , Jacque used his market research to build a strong case for starting Diamond Phase. If you want to learn how to start a private security company from scratch, you can follow this business plan for a security company pdf. You can also learn the basic idea from other plans, such as a dog training business plan .

Here, we will present the marketing analysis and details for Diamond Phase, through which you can learn how to open up a security company that can succeed. 

5.1 Market Trends

According to Statista, the private security industry in the US already has a market share of $32 billion, which is a $1 billion increase from 2019. The market is consistently growing with an increase in valuable projects, businesses, and residential areas. Therefore, this is the prime time to learn how to start a security agency as it will help the new business become a part of the growth spurt. 

5.2 Marketing Segmentation

The customers targeted by Diamond Phase are as follows:

Business plan for investors

5.2.1 residential community.

The main customers of our company will be residential areas that require not only an automated security system in each home but also centralized security teams in place to deal with a breach. We expect to gain about 60% of our customer base from this domain. 

5.2.2 Small/ Large Businesses

We will also provide automated systems, network security services, and small batches of guards to small and large businesses. Mostly, these businesses will require a few guards and a basic automatic security system linked to the police. 

5.2.3 Jewelry Stores

Our company will also serve Jewelry stores that require a state-of-the-art automatic security system as well as an equipped security team that can respond in a short time. 

5.2.4 Highly Sensitive Areas

Lastly, Diamond Phase is aware that there are warehouses and hidden locations that often need security. We expect to come into business contracts with large companies.

5.3 Business Target

• Establish ourselves as an efficient and versatile one-stop solution in the market.
• To attain a customer satisfaction score of 98% within the first 6 months.
• To slowly expand our client base to include multinational corporations.

5.4 Product Pricing

The prices of our products will be competitive with the market baselines. We will offer a wide range of services to choose from so that our clients don’t have to look towards any other firm for full-coverage security solutions.

Strategy 

Setting up a security firm can be tough from a market standpoint. Most places already have trusted firms that they use for security systems. So, it can be hard starting a private security company in such an environment. To deal with these hardships, Jacque decided to come up with competitive advantages from the very beginning. His compelling sales strategy and competitive advantages are given in this business plan of a security company.

So, just as a dog daycare business plan can help a dog daycare business prosper, a business plan targeted at a security firm can help it succeed as well. Therefore, if you want to learn how to start a private security firm, you can go through the plan developed by Jacque for Diamond Phase. 

6.1 Competitive Analysis

• We have a versatile business that offers security in 3 dimensions: manual, automatic, and communication network.
• Our customers can get one-stop solutions at our company, eliminating the need for multiple security systems.
• We have systems in place for training clients’ own employees and guards.

6.2 Sales Strategy

• We will offer comprehensive security packages based on a client’s needs.
• The services of our security analyst to design the security system will be free for clients.
• We will offer a money-back guarantee in case of any issues within the first year.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan

When learning how to open up a security company, you need to go into details such as which type of workforce can help you maintain and run the business. Every private security company business plan contains these details.

The employees Jacque decided to hire for Diamond Phase are listed below in this business plan for a security company pdf. 

7.1 Company Staff

• 1 Co-Manager to help in overall operations
• 20 Trained Guards
• 2 Sales Executives to promote sales
• 1 Accountant
• 1 Receptionist

7.2 Average Salary of Employees

Financial Plan

If you are new to the security domain, you may be wondering what you need to start a security company. The truth is, there are a lot of components that make a business plan security company successful. One of the essential components is the financial planning of the business. 

Financial planning can include details ranging from how much it costs to start a security company to the rates for your services. For the financial planning of the Diamond Phase, Jacque dived deep into the profit vs. cost analysis of services to ensure the sustainable working of the business.

The financial plan for the Diamond Phase with all its details is demonstrated below for a better understanding.

8.1 Important Assumptions

8.2 Break-even Analysis

8.3 Projected Profit and Loss

8.3.1 Profit Monthly

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 Business Ratios

• How do I write a business proposal for a security company?

You can learn how to write a business proposal for a security company through the example of a business plan for a security company given above. 

• How do you write an executive summary for a security company?

An executive summary is an important part of all security company business plans. To write one, you can look into the security company business plan template given above. 

• What are the goals of a security company?

The goals of a security company are dependent on many factors such as location, owner’s expectation, target market, investment, etc., all of which are demonstrated in the business plan for a security company.

Download sample a business plan for a security company pdf

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Security Business Plan Template [Updated 2024]

Security Company Business Plan Template

If you want to start a security business or expand your current security company, you need a business plan.

Fortunately, you’re in the right place. Our team has helped develop over 100,000 business plans over the past 20 years, including thousands of security company business plans.

The following security business plan template and example gives you the key elements you must include in your plan. In our experience speaking with lenders and investors, the template is organized in the precise format they want.

You can download our Ultimate Business Plan Template (including a full, customizable financial model) to your computer here.  

Sample Business Plan For Security Businesses

I. executive summary, business overview.

[Company Name] is a new security company located in [Location]. [Company Name] provides security professionals to local establishments that need protection for their business or assets. We train our professionals for numerous situations so they are prepared for any security job. This includes anything from theft prevention to handling crisis situations. Whatever our clients’ concerns are, they can rest assured that they have hired the best security professionals in the [Location] area.

Services Offered

[Company Name] provides security professionals that can help businesses with all their security and surveillance needs. These can include but are not limited to:

• Protecting individuals
• Guarding property
• Theft prevention
• Help with crisis situations

Businesses can sign up with one of our flexible contract programs when hiring our security services. We also offer a discounted trial period for those who are considering a long-term contract and want to test out our services before signing.

Customer Focus

[Company Name] will primarily serve the businesses and residents of [Location]. The demographics of this area are as follows:

• 428,146 residents
• 25,000 businesses
• Average income of $64,000
• 24% married
• Median age of 38 years

Management Team

[Company Name] is founded by [Founder’s Name], who has been a security professional for [X] years. He has worked both as a professional security guard and as a certified trainer and received an MBA from [University]. [Founder’s Name]’s education and experience has given him all the essential skills to run his dream security company. He will also hire other administrative staff to help him with the essential day-to-day functions.

Success Factors

[Company Name] is uniquely qualified to succeed due to the following reasons:

• Our location is in a high-volume area with easy access from multiple commercial district areas.
• The management team has a track record of success in security services.
• Offering security services is a proven business and has succeeded in different communities throughout the United States.

Financial Highlights

[Company Name] is seeking a total funding of $300,000 of debt capital to open its office. Specifically, these funds will be used as follows:

• Office design/build: $100,000
• Working capital: $200,000 to pay for marketing, salaries, and lease costs until [Company Name] reaches break-even

Top line projections over the next five years are as follows:

II. Company Overview

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Who is [Company Name]?

[company name]’s history.

After surveying the local customer base, and finding a potential office location, [Founder’s Name] incorporated [Company Name] as an S-Corporation on [date of incorporation].

Currently, the business is being run out of [Founder’s Name]’s home office, but once the lease on [Company Name]’s location is finalized, all operations will be run from there.

Since incorporation, [Company Name] has achieved the following milestones:

• Found a commercial space and signed a Letter of Intent to lease it
• Developed the company’s name, logo, social media accounts, and website located at [website]
• Began recruiting key employees

[Company Name]’s Products/Services

Iii. industry analysis.

You can download our Business Plan Template (including a full, customizable financial model) to your computer here. With increasing illegal events, terrorism, and fraudulent activities happening all around the world, the demand for professional security is greater than ever. Every establishment needs some form of security, whether it be in the form of security professionals or in the form of cybersecurity. As the world continues to navigate its violent challenges, security professionals will be needed to protect important assets and respond to crisis situations.

According to Grand View Research, the security industry is expected to grow at a compound annual growth rate of 8% from now until 2030. This is substantial growth, which shows just how essential the industry will be in the coming decade. Businesses like [Company Name] will continue to be in high demand and very profitable.

IV. Customer Analysis

Demographic profile of target market.

[Company Name] will primarily serve the businesses and residents of [Location] and surrounding areas. The demographics of this area are as follows:

Customer Segmentation

We will primarily target the following customer segments:

• Private Individuals : Some individuals may find themselves in danger or at risk of being robbed. We will offer personal protection to keep these individuals safe.
• Local Businesses : Our largest customer segment will be local businesses. They have a variety of security needs, from needing protection to preventing theft. We can help them with any security concerns they may have.
• Government Organizations : We will also collaborate with local government organizations to assist them with their unique security needs.

V. Competitive Analysis

Direct & indirect competitors.

The following establishments are within a 10-mile radius of [Company Name] and therefore are direct or indirect competition.

Sky High Security Sky High Security is a security company that was established in 2002. It provides a large team of security professionals specifically trained to protect high-value assets, such as museum collections and expensive jewelry. Their services include providing in-person officers as well as high-tech surveillance equipment.

Prime Security Founded in 2003, Prime Security is the best security company in town for those looking for guard and patrol services. Prime Security aims to protect establishments and offer patrols to deter any unwanted visitors. The company has been highly successful and is the largest security company in the region.

First Responders Security First Responders Security is the most popular security company for those who have more complex security concerns. They offer a wide range of services, including alarm response, theft prevention, and patrolling. Instead of hiring several companies to do several jobs, companies can depend on First Responders Security to manage all of their security concerns.

Competitive Advantage

[Company Name] has several advantages over its competitors. The following are some of its major advantages:

• Expert Security Professionals : [Company Name] only hires the best personal security professionals that have extensive training.
• Location : [Company Name]’s location is in a prime location, giving us quick and easy access to prime commercial districts. This is ideal especially when hired to handle crisis situations or alarm response.
• Affordable Pricing : The services offered by [Company Name] are similar in quality to its most premium-positioned competitor and [Company Name] can offer them at a lesser price.
• Management : Our management team has years of security and business experience that allows us to market to and serve customers in a much more sophisticated manner than our competitors.

VI. Marketing Plan

The [company name] brand.

The [Company Name] brand will focus on the company’s unique value proposition:

• Professional security services
• Flexible contracts and a trial period
• Excellent customer service

Promotions Strategy

[Company Name] expects its initial target market to be businesses within a 10-mile radius of its location. [Company Name]’s promotion strategy to reach these individuals includes:

Targeted Cold Calls [Company Name] will initially invest significant time and energy into contacting potential clients via telephone. In order to improve the effectiveness of this phase of the marketing strategy, a highly-focused call list will be used, targeting startups and small businesses. As this is a very time-consuming process, it will primarily be used during the startup phase to build an initial client base.

Referrals [Company Name] understands that the best promotion comes from satisfied customers. The company will encourage its clients to refer other businesses by providing economic or financial incentives for every new client produced. This strategy will increase in effectiveness after the business has already been established.

Social Media [Company Name] will invest heavily in a social media advertising campaign. The brand manager will create the company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Publications The company will place print advertisements in key local publications, including newspapers, area magazines, and business newsletters. Additionally, [Company Name] will print brochures and place them in specific locations frequented by target individuals, such as small business development centers.

Website/SEO [Company Name] will invest heavily in developing a professional website that displays all of the features and benefits of [Company Name]. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Direct Mail [Company Name] will blanket businesses with direct mail pieces. These pieces will provide general information on [Company Name], offer discounts, and/or provide other incentives for companies to use our services.

Pricing Strategy

[Company Name]’s pricing will be on par with competitors so clients feel they receive great value when hiring our security services.

VII. Operations Plan

Functional roles.

In order to execute [Company Name]’s business model, the company needs to perform many functions including the following:

Administrative Functions

• Bookkeeping
• General administrative functions
• Hiring and training staff

Service Functions

• Offer professional security services
• Draft contracts and invoices
• Train security staff

VIII. Management Team

Management team members, hiring plan.

[Founder] will serve as the CEO of [Company Name]. In order to launch, he needs to hire the following personnel:

• Administrative staff (1 to start)
• Security personnel (10 to start)
• Marketing manager (1 to start)

IX. Financial Plan

Revenue and cost drivers.

[Company Name]’s revenues will come primarily from charging for its security services. Depending on the contract in place, [Company Name] may charge an hourly fee per professional working for the client or a flat fee per month.

The office lease, equipment, supplies, and labor expenses will be the key cost drivers of [Company Name]. Ongoing marketing expenditures are also notable cost drivers for [Company Name], especially in the first few years as the company establishes itself in the market.

Capital Requirements and Use of Funds

Key assumptions.

  5 Year Annual Income Statement

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Security Company Business Plan Template

Written by Dave Lavinsky

Security Company Business Plan

You’ve come to the right place to create your Security Company business plan.

We have helped over 5,000 entrepreneurs and business owners create business plans and many have used them to start or grow their Security Companies.

Below is a template to help you create each section of your Security Company business plan.

Executive Summary

Business overview.

KB Security is a new security company located in San Antonio, Texas. KB Security provides security professionals to local establishments that need protection for their business or assets. We train our professionals for numerous situations so they are prepared for any security job. This includes anything from theft prevention to handling crisis situations. Whatever our clients’ concerns are, they can rest assured that they have hired the best security professionals in the San Antonio area.

KB Security is founded by Keith Baldwin, who has been a security professional for ten years. He has worked both as a professional security guard and as a certified trainer. In addition to his experience, he also holds an MBA. Keith’s combination of experience and education have given him the knowledge and skills to run a successful security company.

Product Offering

KB Security provides security professionals that can help businesses with all their security and surveillance needs. These can include but are not limited to:

• Protecting individuals
• Guarding property
• Preventing theft
• Helping with crisis situations

Businesses can sign up with one of our flexible contract programs when hiring our security services. We also offer a discounted trial period for those who are considering a long-term contract and want to test out our services before signing.

Customer Focus

KB Security will target local businesses, government organizations, and individuals located in San Antonio who need to hire security professionals. We expect most of our clients to be retail establishments who need help with theft prevention and guarding property and assets.

Management Team

KB Security is founded by Keith Baldwin, who has been a security professional for ten years. He has worked both as a professional security guard and as a certified trainer and received an MBA from the University of Texas. Keith’s education and experience has given him all the essential skills to run his dream security company. However, he will also hire other administrative staff to help him with the essential day-to-day functions.

Success Factors

KB Security will be able to achieve success by offering the following competitive advantages:

• Expert Security Professionals: KB Security only hires the best security professionals that have extensive training in security protocols.
• Location: KB Security is in a prime location, giving us quick and easy access to prime commercial districts. This is ideal especially when hired to handle crisis situations or alarm response.
• Affordable Pricing: The services offered by KB Security are similar in quality to its most premium-positioned competitors but are offered at a more affordable price.
• Management: Our management team has years of security and business experience that allows us to market to and serve customers in a much more sophisticated manner than our competitors.

Financial Highlights

KB Security is seeking a total funding of $300,000 of debt capital to open its office. The funding will be dedicated towards securing the office space and the office build-out. Funding will also be dedicated towards three months of overhead costs to include payroll of the staff, rent, and working capital. The breakout of the funding is below:

• Office design/build: $100,000
• Three months of overhead expenses (payroll, rent, utilities): $100,000
• Marketing & advertising: $50,000
• Working capital: $50,000

The following graph below outlines the pro forma financial projections for KB Security.

Company Overview

Who is kb security.

  KB Security is founded by Keith Baldwin, who has been a security professional for ten years. He has worked both as a professional security guard and as a certified trainer. In addition to his experience, he also holds an MBA. Keith’s combination of experience and education have given him the knowledge and skills to run a successful security company.

KB Security’s History

After surveying the local customer base, and finding a potential office location, Keith Baldwin incorporated KB Security as an S-Corporation on May 1st, 2023.

Currently, the business is being run out of Keith’s home office, but once the lease on KB Security’s location is finalized, all operations will be run from there.

Since incorporation, KB Security has achieved the following milestones:

• Found a commercial space and signed a Letter of Intent to lease it
• Developed the company’s name, logo, social media accounts, and website
• Began networking with some of the area’s largest companies to understand their security needs
• Began recruiting key employees

KB Security’s Services

Businesses can sign up with one of our flexible contract programs when hiring our security services. We also offer a discounted trial period for those who are considering a long-term contract and want to test out our services before signing.  

Industry Analysis

With increasing illegal events, terrorism, and fraudulent activities happening all around the world, the demand for professional security is greater than ever. Every establishment needs some form of security, whether it be in the form of security professionals or in the form of cybersecurity. As the world continues to navigate its violent challenges, security professionals will be needed to protect important assets and respond to crisis situations.

The security industry has transformed substantially to meet this demand. In addition to hiring security professionals, many businesses also invest in security tech such as cameras, motion sensors, and software. Security companies that offer a mix of security personnel and technology can provide their clients extensive and tight-knit security options that puts their clients’ minds at ease.

According to research, the security industry is expected to grow at a compound annual growth rate of 8% over the next 10 years. This is substantial growth, which shows just how essential the industry will be in the coming decade. Businesses like KB Security will continue to be in high demand and very profitable.

Customer Analysis

Demographic profile of target market.

The demographics for San Antonio, Texas are as follows:

Customer Segmentation

We will primarily target the following customer segments:

• Individuals
• Local businesses
• Government organizations

Competitive Analysis

Direct and indirect competitors.

KB Security will face competition from other companies with similar business profiles. A description of each competitor company is below.

Sky High Security

Sky High Security is a security company that was established in 2002. It provides a large team of security professionals specifically trained to protect high-value assets, such as museum collections and expensive jewelry. Their services include providing in-person officers as well as high-tech surveillance equipment.

Prime Security

Founded in 2003, Prime Security is the best security company in town for those looking for guard and patrol services. Prime Security aims to protect establishments and offer patrols to deter any unwanted visitors. The company has been highly successful and is the largest security company in the region.

First Responders Security

First Responders Security is the most popular security company for those who have more complex security concerns. They offer a wide range of services, including alarm response, theft prevention, and patrolling. Instead of hiring several companies to do several jobs, companies can depend on First Responders Security to manage all of their security concerns.

Competitive Advantage

KB Security will be able to offer the following advantages over their competition:

Marketing Plan

Brand & value proposition.

KB Security will offer the unique value proposition to its clientele:

• Professional security services
• Flexible contracts and a trial period
• Great security services at moderate rates
• Excellent customer service

Promotions Strategy

The promotions strategy for KB Security is as follows:

KB Security understands that the best promotion comes from satisfied customers. The company will encourage its clients to refer other businesses by providing economic or financial incentives for every new client produced. This strategy will increase in effectiveness after the business has already been established.

Social Media

KB Security will invest heavily in a social media advertising campaign. The brand manager will create the company’s social media accounts and invest in ads on all social media platforms. It will use targeted marketing to appeal to the target demographics.

Website/SEO

KB Security will invest heavily in developing a professional website that displays all of the features and benefits of KB Security. It will also invest heavily in SEO so that the brand’s website will appear at the top of search engine results.

Direct Mail

KB Security will blanket businesses with direct mail pieces. These pieces will provide general information on KB Security, offer discounts, and/or provide other incentives for companies to use our services.

KB Security’s pricing will be on par with competitors so clients feel they receive great value when hiring our security services.

Operations Plan

The following will be the operations plan for KB Security.

Operation Functions:

• KB Security will be owned and operated by Keith Baldwin. Keith will oversee the general operations of the company.
• Keith is joined by Jeffrey Liebowitz, who will oversee all financial and accounting aspects of the business, such as accounts payable and receivable, payroll, budgeting, forecasting, and cash flow analysis. Jeffrey will also manage all tax obligations and licensing for KB Security.
• Keith is also joined by Felicia Monroe, who will oversee all marketing and communications for the business. She will handle all in-client calls, appointments, networking, and follow-up. She will manage all advertising aspects with flyers, emails, social media, and the SEO process.
• Keith will hire an Administrative Assistant to help him with general administrative and operations tasks.
• Keith will also hire an extensive staff of security professionals that will help his clients with their security needs. He will also provide these professionals with training as necessary.

Milestones:

KB Security will have the following milestones completed in the next six months.

• 8/1/202X – Finalize contract to lease office space.
• 9/1/202X – Begin build-out and design of staffing agency office.
• 10/1/202X – Begin social media and website advertising campaign.
• 11/1/202X – Attend large industry networking events.
• 12/1/202X – Hire key employees.
• 1/1/202X – Grand opening of KB Security.

Financial Plan

Key revenue & costs.

KB Security’s revenues will come primarily from charging clients for its security services. Depending on the contract in place, KB Security may charge an hourly fee per professional working for the client or a flat fee per month.

The office lease, equipment, supplies, and labor expenses will be the key cost drivers of KB Security. Ongoing marketing expenditures are also notable cost drivers for KB Security, especially in the first few years as the company establishes itself in the market.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and pay off the startup business loan.

• Year 5: 110
• Office Lease per Year: $100,000

Financial Projections

Income statement.

Balance Sheet

Cash Flow Statement

Security Company Business Plan FAQs

What is a security company business plan.

A security company business plan is a plan to start and/or grow your security company business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Security Company business plan using our Security Company Business Plan Template here .

What are the Main Types of Security Company Businesses?

There are a number of different kinds of security company businesses , some examples include: Crisis management, Security guards, Surveillance company, and Security patrol.

How Do You Get Funding for Your Security Company Business Plan?

Security Companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Security Company Business?

Starting a security company business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Security Company Business Plan - The first step in starting a business is to create a detailed security company business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast.

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your security company business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your security company business is in compliance with local laws.

3. Register Your Security Company Business - Once you have chosen a legal structure, the next step is to register your security company business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your security company business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary Security Company Equipment & Supplies - In order to start your security company business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your security company business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.

Learn more about how to start a successful security company :

• How to Start a Security Company

Private Security Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Security Industry » Private Security Company

Are you about starting a private security agency ? If YES, here is a complete sample private security company business plan template & feasibility report you can use for FREE .

The security industry is an integral part of our world- especially in periods such as this when crime and terrorism has been taken to an all – time high. As a matter of fact, The united states and of course all the countries of the world spend fortunes annually on security; the budget for security is always on the increase every New Year because people that perpetuate crimes and terror are becoming sophisticated as the year goes by.

Basically, a private security company is any company that provides both armed and unarmed security related services and expertise to both private clients and public clients at an agreed fee.

According to the United States of Bureau of Labor Statistics, a private security company is a company that engages in services like providing security guards (bodyguard, guard dog, parking security and security guard services) and patrol services et al.

The average private security outfit can go as far as providing advanced special operations services for special clients when they make demand of it.

For instance; it is the duty of security companies to provide security related services such as the prevention of unauthorized activity or entry in a specified perimeter, traffic regulation, access control, and fire and theft prevention and detection et al.

These services can be largely described as the protection of personnel and/or assets.  Private security outfits can also offer security related services such as roving patrol, bodyguard, and guard dog services et al.

A Sample Private Security Company Business Plan Template

1. industry overview.

It is obvious that the private security industry is indeed a fast growing industry, at present there are about 2 million full-time security workers in the United States of America and this number is expected to grow by an estimate of 21 percent by 2022.

The worldwide private security services industry was approximately 96 billion U.S. dollars in size way back 2013 and statistics has it that the largest share of this market was held by Europe at almost 30 percent,  then followed by Asia (with the exception of Japan) and North America.

The income of the private security services industry was set to reach an estimate of about 25 billion U.S. dollars in the United States in 2014. Security alarm services alone in the United States of America generated whooping sum of 17 billion U.S. dollars per year between 2008 and 2014.

It is on record that in 2013, the money generated by the global security technology and related services market rose just over 67 billion U.S. dollars and was projected to reach an estimate of about 86 billion by the year 2016. Statistics also has it that the global spending on ICT related security services was set to reach approximately 50 billion U.S. dollars in 2015.

Without doubt, the private security industry is indeed a large industry which is why some of the leading private security companies worldwide such as UK-based G4S, Sweden-based Securitas AB and U.S.-based ADT Corporation – in 2013 could boast of generating 12.08 billion, 10.12 billion and 3.31 billion U.S. dollars respectively in just a calendar year.

Whereas in the United States of America, the fastest-growing private security company in 2013 was Innovative Surveillance Solutions with a three-year combined revenue growth of about 5,605 percent.

It is on record that of the 15 fastest-growing private security companies, Datto (A Connecticut-based Company specializes in hardware-based backup, disaster recovery and business continuity services) generated the most revenue that year with 48.9 million U.S. dollars.

Statistics also has it that in 2010, the revenue of security services in the United States of America is estimated to be at about 25.2 billion U.S. dollars.

Without mincing words, the private security industry is one industry that is growing despite the point that the government of various countries are not relenting when it comes to providing security for her citizens. One thing is certain, the private security industry is an evolving one and new technology and approaches are being employed when it comes to delivering standard and safer security services.

The industry can’t be said to be oversaturated simply because there are different areas (niches) a private security company can specialize in and if you are good with what you do, then you won’t struggle much to continue to attract clients both nationally and internationally.

The factors and incentives that encourage entrepreneurs to venture into the private security industry are the ability to get good returns on your investment with minimal risks. For example, when you secure a contract to provide security for an event or an organization, the norm is that you will be financially mobilized before executing the contract.

People also get encouraged to go into starting their own private security companies because on the average it is cost effective to manage the business / workforce. It is the practice for private security outfits to recruit and trained security guards, bodyguards and security dogs et al when only when they have a security contract to execute which is why they don’t usually maintain a large workforce.

2. Executive Summary

Stevenson & Gabby® Security Solutions is a first – class and licensed private security company that will be based in Carson City – Nevada. We have been able to secure all the required security clearance to and office facility to run a private security company in the United States.

We are aware that to run a standard private security outfit can be demanding which is why we are well trained and equipped to perform excellently well. Stevenson & Gabby® Security Solutions is a client-focused and result driven private security outfit that provides broad-based security services at an affordable fee that won’t in any way put a hole in the pocket of our clients.

We will offer a standard and professional security services such as the prevention of unauthorized activity or entry in a specified perimeter, traffic regulation, access control, and fire and theft prevention and detection, security advisory and consultancy services, roving patrol, bodyguard, and guard dog services et alto all our individual clients, and corporate clients at local, state, national, and international level.

We will ensure that we work hard to meet and surpass our clients’ expectations whenever they contract their security concerns to our organization.

At Stevenson & Gabby® Security Solutions, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in a wide variety of private security services.

Stevenson & Gabby® Security Solutions will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Our plan is to position Stevenson & Gabby® Security Solutions to become one of the leading brands in the private security services industry in the whole of Nevada, and also to be amongst the top 20 private security outfits in the United States of America within the first 10 years of operations.

This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Carson City – Nevada is the right place to launch our private security business before spreading to other parts of the United States.

Stevenson & Gabby® Security Solutions is private – partnership business that is owned by Stevenson Murray and his friend and business partner Gabby Larry – White. The organization will be managed by both of them.  Mr. Stevenson Murray and Gabby Larry – White graduated from both The University of California – Berkley (First Degree), and University of Harvard (MBA).

Stevenson Murray is a Certified Security Project Manager (CSPM), Cisco Certified Security Professional (CCSP), Certified Security Compliance Specialist (CSCS), and Certified Information System Security Professional (CISSP), while Gabby Larry – White is certified Industrial Security Professional Certification (ISP®) and Global Industrial Cyber Security Professional (GICSP). They have combined hands on experience to help build Stevenson & Gabby® Security Solutions.

3. Our Products and Services

Stevenson & Gabby® Security Solutions is going to offer varieties of services within the scope of private security services industry in the United States of America. Our intention of starting our private security outfit is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition.

Our business offering are listed below;

• Prevention of unauthorized activity or entry in a specified perimeter
• Traffic regulation services
• Access control services
• Fire and theft prevention and detection services
• Security advisory and consultancy services
• Roving patrol services
• Bodyguard, and guard dog services

4. Our Mission and Vision Statement

• Our vision is to build a private security company brand that will become the number one choice for both individual clients and corporate clients in the whole of Carson City – Nevada.
• Our vision reflects our values: integrity, service, excellence and teamwork.
• Our mission is to provide professional and trusted private security services that assist individuals, businesses and non-profit organizations.
• We are to position the business to become the leading brand in the private security services industry in the whole of Nevada, and also to be amongst the top 20 private security outfits in the United States of America within the first 10 years of operations.

Our Business Structure

Stevenson & Gabby® Security Solutions is a standard private security services outfit that intends to start small in Carson City – Nevada, but looks to grow big in order to compete favorably with leading private security services outfits both in the United States and on a global stage.

We are aware of the importance of building a solid business structure that can support the picture of the kind of world class business we want to own. This is why we are committed to only hiring the best hands within our area of operations.

At Stevenson & Gabby® Security Solutions, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer

Chief Security Officer / Manager

Security Consultant

Admin and HR Manager

Marketing and Sales Executive

• Customer Services Executive
• Security Guards

5. Job Roles and Responsibilities

Chief Executive Office:

• Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Responsible for providing direction for the business
• Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Responsible for signing checks and documents on behalf of the company
• Evaluates the success of the organization
• Manages the overall activities of security staff members and equipment
• Achieves maximum profitability and over-all success by controlling costs and quality of service.
• Completes weekly schedules. Schedule employees as necessary to ensure adequate and consistent levels of security service.
• Supervises weekly schedules. Schedule staff as necessary to ensure adequate and consistent levels of service
• Responsible for security control policies and completion of necessary forms.
• Co-ordinates the general execution of security services as requested by clients.
• Summit security reports on a regular basis to the management of the organization and give professional advice as at when due.
• Responsible for interviewing and hiring security guards, vendors, selecting and ordering materials, negotiating rates, coordinating the sequence of events as it relates to security services
• Plans, designs and produces security solutions (software and hardware et al) while managing all project delivery elements within time limits
• Liaises with clients to identify their security needs and to ensure customer satisfaction
• Conducts market research, gather information and negotiate contracts prior to closing any deals
• Provides security feedback and periodic reports to stakeholders
• Proposes ideas to improve provided security services
• Ensures compliance with insurance, legal, health and safety obligations
• Specifies staff requirements and coordinate their activities
• Cooperates with marketing and PR to promote and publicize safety concerns
• Proactively handle any arising issues and troubleshoot any emerging problems on the event day
• Conducts pre- and post – security evaluations and report on outcomes
• Research market, identifies security services opportunities and generate interest
• Offers security advisory and consultancy services to clients
• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Designs job descriptions with KPI to drive performance management for clients
• Regularly hold meetings with key stakeholders to review the effectiveness of HR Policies, Procedures and Processes
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process
• Carries out staff induction for new team members
• Responsible for training, evaluation and assessment of employees
• Responsible for arranging travel, meetings and appointments
• Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
• Oversees the smooth running of the daily office activities.
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Writes winning proposal documents, negotiate fees and rates in line with company policy
• Responsible for handling business research, marker surveys and feasibility studies for clients
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding increase sales
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Responsible for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• Responsible for financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting for one or more properties.
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the company
• Serves as internal auditor for the company

Client Service Executive

• Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the manager in an effective and timely manner
• Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries

Security Guards:

• Responsible for prevention of unauthorized activity or entry in a specified perimeter
• Handle traffic regulation services
• In charge of access control services
• Responsible for fire and theft prevention and detection services
• Part of the roving patrol services team
• Offer bodyguard , and guard dog services

6. SWOT Analysis

Because of our drive for excellence when it comes to running a standard private security services business, we were able to engage some of the finest business consultants in Carson City – Nevada to look through our business concept and together we were able to critically examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard private security outfit

In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Carson City – Nevada. Here is a of what we got from the critically conducted SWOT Analysis Stevenson & Gabby® Security Solutions;

Aside from the reality that all our private security company is of world – class standard and the business is well positioned and well – equipped to meet the 21 st century demand of both high profile corporate and individual clients, we have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details as regard security concerns. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.

As a new private security outfit, it might take some time for our organization to break into the market and gain acceptance in the already saturated private security services industry; that is perhaps our major weakness.

• Opportunities:

The opportunities in the private security services industry is massive considering the number of corporate clients and individual clients who can’t afford to leave the security of the properties and lives to government security agencies. As a standard and world – class private security outfit, we are ready to take advantage of any opportunity that comes our way.

Some of the threats that we may likely face as a private security outfit operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operations and global economic downturn which usually affects purchasing cum spending power.

There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.

7. MARKET ANALYSIS

• Market Trends

The security industry is one of the industries that is highly regulated so as to prevent costly security breaches that endanger the security of a country. So if you are looking towards starting a private security company, then you should acquire international security certifications; it will give you edge amongst your competitors.

The truth is that, the more relevant security certifications that you and your team have, the easier it is for you to convince people to patronize your services. Although if you are able to build a successful security company brand, you can pitch your business in any part of the world and still make success out of the business especially if you run a security consultancy and advisory business.

But if you are just starting out; especially if you are a newbie in the security industry, it is important that you locate your business in an area with healthy business activities.

As a matter of fact, social media has now become one of the most important tools private security outfits leverage on to disseminate information about their security concerns, solicit feedback, and create year-round engagement with their target audience.

Furthermore, new software apps and emerging technology have made it easier for private security outfits to gather all the needed data and information that will help them plan and project for the future.

8. Our Target Market

Although Stevenson & Gabby® Security Solutions will initially serve small to medium sized business, from new ventures to well established businesses and individual clients, but that does not in any way stop us from growing to be able to compete with the leading private security companies in the United States.

As a standard and well – equipped private security company, Stevenson & Gabby® Security Solutions offers a wide range of private security services hence we are well trained and equipped to services a wide range of clientele base. Our target market cuts across people of different class and people from all walks of life, local and international organizations as well.

We are coming into the industry with a business concept that will enable us work with the highly placed people and companies in the country and at the same with the lowly placed people and smaller businesses. Below is a list of the people and organizations that we have specifically design our products and services for;

• Blue Chips Companies
• Corporate Organizations
• Religious Organizations
• Political Parties / Politicians
• Households / Families
• Estates and Communities
• Celebrities
• The Government (Public Sector)
• Schools (High Schools, Colleges and Universities)
• Sport Organizations
• Entrepreneurs and Start – Ups

Our Competitive Advantage

Surviving in the business world as a private security company requires more than, your expertise, knowing how to deliver standard security contracts but also how to network with key people that matters; decision makers that can decide who a security contract is giving to and all that.

No doubt there are loads of big time investors such as Halliburton et al that have a stake in the private security industry, but one thing is certain, there is room big enough to accommodate both the big private security companies and the small private security companies.

What smaller private security companies need to do to survive in the industry is to concentrate on providing security services to households, event planners, estates, communities, schools, hospitals and hotels et al before bidding for big security contracts from corporations and government agencies.

Stevenson & Gabby® Security Solutions might be a new entrant into the private security services industry in the United States of America, but the management staffs and owners of the business are considered gurus. They are people who are core professionals and licensed and highly qualified private security experts in the United States.

We are a world – class and standard private security business that is well positioned and well – equipped to meet the 21 st century security demand of both high profile corporate and individual clients. These are part of what will count as a competitive advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category (startups private security services companies) in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Stevenson & Gabby® Security Solutions is established with the aim of maximizing profits in the private security services industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis and sign retainer – ship with most of our clients.

Stevenson & Gabby® Security Solutions will generate income by offering the following private security services for individuals and for corporate organizations;

10. Sales Forecast

One thing is certain, there would always be corporate clients and individual clients who may not be able to afford to leave the security of the properties and lives to government security agencies. As a standard and world – class private security outfit, we are ready to take advantage of any opportunity that comes our way.

We are well positioned to take on the available market in Carson City – Nevada and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base beyond Carson City to other cities in Nevada and other states in the U.S.

We have been able to critically examine the private security services market and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Carson City – Nevada.

Below are the sales projection for Stevenson & Gabby® Security Solutions, it is based on the location of our business and the wide range of private security services that we will be offering;

• First Fiscal Year-: $350,000
• Second Fiscal Year-: $750,000
• Third Fiscal Year-: $1.25 Million

N.B : This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

We are mindful of the fact that there is stiffer competition amongst private security services companies in the United States of America; hence we have been able to hire some of the best business developer to handle our sales and marketing concerns.

Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis, so as to be well equipped to meet their targets and the overall goal of the organization.

We will also ensure that our excellent job deliveries speaks for us in the market place; we want to build a standard private security services business that will leverage on word of mouth advertisement from satisfied clients (both individuals and corporate organizations).

Our goal is to grow our private security services company to become one of the top 20 private security services companies in the United States of America which is why we have mapped out strategy that will help us take advantage of the available market and grow to become a major force to reckon with not only in the Carson City – Nevada but also in other cities in the United States of America.

Stevenson & Gabby® Security Solutions is set to make use of the following marketing and sales strategies to attract clients;

• Introduce our business by sending introductory letters alongside our brochure to corporate organizations, religious organizations, schools, households and key stake holders in Lincoln and other cities in Carson City – Nevada
• Promptness in bidding for private security services contracts from the government and other cooperate organizations
• Advertise our business in relevant magazines, newspapers, TV stations, and radio station.
• List our business on yellow pages ads (local directories)
• Attend relevant international and local expos, seminars, and business fairs et al
• Create different packages for different category of clients in order to work with their budgets and still deliver quality private security services to them
• Leverage on the internet to promote our business
• Engage direct marketing approach
• Encourage word of mouth marketing from loyal and satisfied clients

11. Publicity and Advertising Strategy

We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to take the private security services industry by storm which is why we have made provisions for effective publicity and advertisement of our private security services outfit. Below are the platforms we intend to leverage on to promote and advertise Stevenson & Gabby® Security Solutions;

• Place adverts on both print (community based newspapers and magazines) and electronic media platforms
• Sponsor relevant community based events / programs
• Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
• Install our Bill Boards on strategic locations all around Carson City – Nevada
• Engage in road show from time to time in target neighborhoods
• Distribute our fliers and handbills in target areas
• Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.

12. Our Pricing Strategy

Just like in services and consulting business, hourly billing for private security services is also a long – time tradition in the industry.  However, for some types of contracts or clients flat fees make more sense because they allow clients to better predict the overall service charges.

As a result of this, Stevenson & Gabby® Security Solutions charge our clients both flat fee and hourly billing as long as it favors both parties. At Stevenson & Gabby® Security Solutions we will keep our fees below the average market rate for all of our clients by keeping our overhead low and by collecting payment in advance.

In addition, we will also offer special discounted rates to start – ups, nonprofits, cooperatives, and small social enterprises. We are aware that there are some clients that would need regular access to private security services, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.

• Payment Options

The payment policy adopted by Stevenson & Gabby® Security Solutions is an all-inclusive one because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Stevenson & Gabby® Security Solutions will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via POS
• Payment via online bank transfer
• Payment via check
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a private security services company; it might differ in other countries due to the value of their money. These are the key areas where we will spend our start – up capital;

• The total fee for incorporating the business in the United States of America- $750.
• The budget for basic insurance policy covers, permits and business license – $2,500
• The amount needed to acquire a suitable office facility (Re – Construction of the facility inclusive) – $150,000.
• The Cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, security and safety gadgets and electronics et al) – $5,000
• The Cost of Launching an official Website – $600
• The cost for the purchase of 21 st century security gadgets, software and guard dogs et al – $100,000
• Budget for paying  employees for 2 months plus utility bills – $100,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
• Miscellaneous: $5,000

Going by the report from the market research and feasibility studies conducted, we will need about seven hundred and fifty thousand ( 450,000 ) U.S. dollars to successfully set – up a medium scale but standard private security company in the United States of America.

Generating Funding / Startup Capital for Stevenson & Gabby® Security Solutions

Stevenson & Gabby® Security Solutions is a private – partnership business that will be owned by Stevenson Murray and his friend and business partner Gabby Larry – White. They are the sole financial of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

• Generate part of the start – up capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $150,000 (Personal savings $100,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $300,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Stevenson & Gabby® Security Solutions is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our private security services a little bit lower than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Stevenson & Gabby® Security Solutions will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of six years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

• Business Name Availability Check:>Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts various banks in the United States: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of All form of Insurance for the Business: Completed
• Securing a standard office facility and reconstruction inclusive: In Progress
• Conducting Feasibility Studies: Completed
• Generating part of the start – up capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of the needed security gadgets, patrol vans, security software application, security / guard dogs, uniforms, furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with vendors and key players in the industry: In Progress

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Security Guard Business Plan

Start your own security guard business plan

Batten-Hatchez Security

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

In the current political climate, with increasing fears of terrorist activity, and the current economic climate, which promises an upswing in general and in outsourced services especially, this business is launching at the right time. The business will target large retail stores and building management companies first in order to establish a strong base of clients in Coastalburg.

Batten-Hatchez Security will remove worries for clients who require security guards for their buildings, facilities, and events by providing excellent customer service for clients and in-depth training for their employees.

[ Note: marketing info here is out of date; included for illustration purposes only. Dates have been changed. ] 

According to IBISWorld, there were 41,000 security services firms in the U.S. in 20XX running 56,000 establishments. The average size of a firm was $700,000 revenue per year based on these numbers, meaning that the industry includes both small and larger companies. There are few barriers to entry, as long as basic legal requirements are met, as the capital investment in the business is very low. The industry depends on a supply of labor, often using retired police officers as security guards.

As security guard services are sold business-to-business, marketing and advertisement is generally targeted on the markets and industries the security companies seek to serve. Businesses generally search for security guard providers on the Internet or through referrals from other companies they trust.

Competition

Top players in the industry include Securitas AB, Allied Security LLC, The Brink’s Company, and G4S plc. Huge players provide services for a huge range of markets, including governments, chemical and petrochemical, colleges and universities, commercial real estate, financial institutions, health care facilities, manufacturing and industrial, residential communities, shopping centers, and temporary security services.

Batten-Hatchez Security will remove worries for clients who require security guards for their buildings, facilities, and events by providing excellent customer service for clients and in-depth training for their employees

Expectations

The business expects respectable sales of in the first year, almost doubling by the end of the third year. Gross margins will be similar to the industry average, based on guard labor costs vs. billings. After the initial investment and launch, a lean first year, and the establishment of an office and training space in the second year, the business will be poised to expand through its own financing after three years. After the business is proved replicable in additional cities, the business may be sold to provide an exit for the initial investor and founders.

Financial Highlights by Year

Financing needed.

The $76,700 investment as follows: 

Louis Giordano $15,000

Jared Case $15,000

Unspecified family/friend investment: $46,700

Problem & Solution

Problem worth solving, our solution.

Located in Coastalburg at its launch, the business will provide security guards, security audits, and referrals to equipment providers to commercial buildings, retail businesses, and, eventually special event venues and other clients. The business seeks to acquire capital from an angel investor and will expand to additional cities in Ourstate and beyond if successful.

Target Market

Market size & segments.

The market for security guard services includes building management companies, retail businesses, event venues, and other businesses. IBISworld.com reports that the security services industry as a whole was $29.7 billion in 20xx. While this number includes investigative services and armored car services, it is estimated that security guards accounted for $22.3 billion. This represents approximately 540,000 employees in the security guard industry.

While market revenue has dropped 2% in 20xx due to the recession, it is expected that the market will rise again due to increasing outsourcing of security services by companies who will delay hiring their own full-time employees as the recession ends. The continuing and growing concerns about security brought on by international terrorism are also expected to contribute to growth in the industry.

Of the potential targets available in Coastalburg Batten-Hatchez Security will focus on building management companies and retail businesses at the outset. These businesses require steady security needs and serving them is simpler than serving special events.

Building management companies  generally install surveillance equipment and employ security guards to monitor that equipment, to staff front desks/security checks, and sometimes for general patrol. These companies often work with a number of commercial or residential buildings and look to establish a relationship with one reliable vendor for all of their security guard needs. While some buildings require night-shift guards, others require only day coverage.

Large retail businesses  use security guards to deter theft and to provide safety. These include department stores and other retail stores over 4,000 square feet, although some smaller stores may use security guards if they sell high-priced items (designer fashion, jewelry, technology, etc.). Retailers require more guards during the day. Some simply lock the store at night while some larger department stores use night patrols as well.

Event venues  use security guards to monitor guest lists and fire capacities and to organize emergency response. Nightclubs and bars may be included in this category. However, most nightclubs and bars employ their own security personnel (or "bouncers") directly and do not use vendors. Event security has the same risks as other security, but there is limited time for security audits and situations change fast, making this a higher stress business that requires better trained guards. Events tend to happen in the evenings with weekday nights for corporate events and weekend nights for private events.

Educational institutions , such as primary and secondary schools and colleges, generally employ security officers to guard and patrol their buildings and campuses. Often these institutions employ their own in-house security staff, but they will sometimes use outsources security vendors. These institutions require night and day patrols.

Batten-Hatchez Security will target the first two of these target markets initially, building management companies and retail businesses. Both segments require ongoing security vendors and are eager to establish long-term relationships. Once relationships are established, good customer service, quality assurance, and competitive pricing can ensure that the relationships are retained and that the security provider is considered a true partner in the protection of the building or businesses’ assets and people.

Furthermore, the other two target markets listed will be taken on at a later date, if at all. Event venues require more specialized services and may be a slower market to tackle. Educational institutions are often eager to establish their own security staffs, making this a difficult market to establish a strong foothold in as well.

Current Alternatives

Smaller security companies achieve success based on the expertise and reputation of their founding managers and the growth of a team with a similar track record. The continued success of a company depends on client satisfaction, leading to referrals.

Larger institutions and governments may receive several bids for security contracts, while smaller businesses (such as many that Batten-Hatchez Security will target) often prefer to try out security companies and move on if they do not meet expectations.

The smaller the amount of assets being protected, the more willing a company will be to risk their security on educated hunches about a security company without feeling the need to do due diligence on a number of options.

IBISworld reports the following about the security industry:

While the public’s perception of the rising crime rate assists revenue, the most significant factor which increases the demand for this industry’s services is a breach of an existing security system, a break-in or a near break in. The economic crisis has hurt demand over the past two years but things will soon begin to improve.

In Coastalburg, security guard service competitors include securityguard.com, Top Guard Security, US Security Guard Services, and Trend Security Corporation.

Our Advantages

Batten-Hatchez Security will built a competitive edge through high levels of customer service and assurance. The company will strive to not be a broker between clients and contracted security guards, as some security guard providers become, but instead be a partner in the security and protection of client’s assets, with security guards as a major tool in that protection. This strategy will require Chindit Batten to carefully audit a client’s security situation and to work with them on plans to upgrade and maintain that security. He will continually check in with clients and with the guards sent to client sites to learn about the challenges they are facing.

Keys to Success

Batten-Hatchez Security believes the keys to success in its industry include:

• No incidents. No mistakes. No failures. Security is about peace of mind. Credibility is everything.
• Listening carefully to client concerns and objectives to create customized security guard packages
• Knowing what the client does not know (bringing deep security expertise as well as knowledge of legal regulations and liability to the table)
• Training security guards carefully and maintaining their training and certifications (e.g. to carry firearms)
• Monitoring the quality of security guard service to offer quality assurance

Marketing & Sales

Marketing plan.

To reach its target markets of building management companies and large retail businesses, Batten-Hatchez Security will use the following tactics:

• Development of a basic "brochure" website with services and contact information
• Advertising in trade publications read by managers in these two industries
• Advertising online with Google AdWords around keywords for security services and security guards, especially associated with these two types of customers
• Business cards and brochures for Chindit Batten to distribute on appointments and while networking with Coastalburg-area business networking groups
• Direct selling work based on purchasing or developing target lists
• Direct mail of brochures and letters to these target lists of potential clients in Coastalburg

Chindit Batten will be the primary salesperson for Batten-Hatchez Security. He will meet with clients at their buildings to perform an initial consultation and will create proposals for security services based on the client’s needs. Batten will track sales prospects and clients with ACT!, a client management database system. 

Batten’s sales strategy will be to listen carefully to the needs of the client and to provide assurance through stories of his experience and a canny understanding of their needs and concerns. While his proposals may not be the lowest cost bids a potential client receives, he will follow up with care and the same personal attention that clients will receive if they move forward with using Batten-Hatchez Security.

Milestones & Metrics

Milestones table, key metrics.

Our Key Metrics are:

• The number of retweets and twitter follows. Our customers are constantly chatting with each other and us to figure out how people feel about us 
• Our blog views and shares. We demonstrate our knowledge by writing expert posts about security. The number of people who visit our site will give us a idea of how our blog subjects mix with our customer’s concerns. 
• Market research – Keep a pretty good idea of what our competitors are doing and how much they are charging. This allows our customer service to sell our customer service on our specific services 
• # of customer recommendations on Facebook and twitter and professional service sites. 
• # of training certificates and how that affects how much people are willing to pay. 

Ownership & Structure

Chindit Batten is CEO and founder of Batten-Hatchez Security. He currently owns 60% of the business and the remaining 40% of shares are owned by his partner and co-founder, Viipuri Hatchez, COO. The business is incorporated as an S Corporation to enable additional investment for its launch. The founders shares will be diluted as up to 40% of shares will be given to friends/family investors.

Management Team

Batten-Hatchez Security is a startup security company founded by Chindit Batten, a former police sergeant and security company manager with fifteen years in law enforcement and ten years in security work. The business will provide security guards to commercial buildings, retail businesses, and special events. The business will launch in Coastalburg but will expand to additional cities if successful.

Personnel Table

Financial Plan investor-ready personnel plan .">

Key assumptions.

The long-term interest rate is 6% for a home equity loan taken out in year 2 to cover the cash needs for a move to an office space.

In addition to the assumptions shown in this table, the business makes the following assumptions:

• That the security guard industry will experience an overall upswing in the next three years
• That the sales record of Chindit Batten at his previous firm can be replicated at Batten-Hatchez

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

Start-up Expenses are 

Legal Fees $15,000

Surety Bond $1,200

Stationery $2,000

Insurance $10,000

Training $5,000

Website $2,000

Brochure $1,500

TOTAL START-UP EXPENSES $36,700

Sources of Funds

Our sources of funds are investors:  Louis Giordano, Jared Case, and family and friends. 

Projected Profit & Loss

Projected Balance Sheet

Projected Cash Flow Statement

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Money blog: Most expensive place to live in the world revealed - and it's not London or New York

Welcome to the Money blog, your place for personal finance and consumer news and tips. Leave a comment on any of the stories we're covering below.

Thursday 8 August 2024 15:14, UK

• Most expensive place to live in the world revealed
• US has '45% chance of recession' as markets wobble
• Pension schemes to be rated red, amber or green
• Top fixed rate bonds and ISAs on the market
• 'Game on' in mortgage market as major bank cuts rates below 4%

Essential reads

• The rise of 'doom spending' - what it is and how to stop
• Will 'the greatest chocolate bar ever' return? We asked Cadbury's...
• Cheap Eats: Where you've (probably) been going wrong with green curry
• Is equity release ever a good idea?
• Aldi's new copycat is much cheaper but what do nutritionists think?
• Where kids can eat for free or cheap
• Basically... Wills
• Best of the Money blog - an archive of features

Ask a question or make a comment

Are you struggling with rent? Has your landlord recently increased it?

Alternatively, have you ever lived in a rent-controlled home?

We want to hear from you. Contact [email protected] or contact us on Whatsapp here.

Deliveroo has made its first ever profit of £1m over the first half of this year.

The food delivery app was launched in 2013 - meaning it has gone more than 10 years without making a profit. 

The company said it had seen encouraging signs in terms of consumer behaviour as food price rises continued to ease.

It posted a profit of £1.3m for the first half of the year, swinging from a loss of £82.9m this time last year.

The number of orders placed over the period increased by 2% to a total of 147 million.

Gross transaction value per order - which means the average cost of people's food baskets plus delivery fees - was £25, up from £24.20 the prior year.

This was primarily driven by higher item prices, which are set by restaurants and shops, even though the rate that prices are rising continues to slow.

In the UK and Ireland, total spending jumped by 7% at constant currency, partly driven by customers placing orders more frequently.

Deliveroo said it benefited from new restaurants on the platform, such as Pizza Pilgrims and Wingstop, as well as more grocery options and brands such as Ann Summers and B&Q selling products through the app.

Walkers and Heinz have launched three new crisp flavours.

The crisps - Sausage Sarnie and Heinz Ketchup, Roast Chicken and Heinz Mayo, and Cheese Toastie with Heinz Beans - are inspired by classic sandwiches.

The limited-edition snacks are available at supermarkets from today in both 45g grab bags for £1 each and multipacks of five 25g bags for £1.65.

Ocado has started selling products in refillable packaging as part of a trial.

The new initiative sees products such as pasta, rice and washing liquid placed in reusable containers when customers purchase products online.

The empty containers are then returned to drivers when another order is made and then washed and refilled for a new customer.

It will come at no extra cost to shoppers.

Simon Hinks, product director at Ocado retail, told Retail Gazette : "Our customers are already used to giving their bags back to our drivers for recycling – so this is a really sensible next step for us to help our customers reduce single-use plastic on products they buy frequently."

Octopus Energy will extend an energy bills support scheme for pensioners after the government removed winter fuel payments for millions of elderly people.

The energy supplier said it will continue its £30m assistance fund into this winter, and that pensioners who do not meet the new criteria for receiving state support will be eligible.

Labour said in July it is changing the rules around the government's winter fuel payments scheme so that it will no longer be universal for all pensioners in England and Wales.

Now, only pensioners on means-tested benefits will qualify for the help, which is estimated to take the payments away from about 10 million people.

Chancellor Rachel Reeves has said making the scheme more targeted was a "difficult decision". 

You can read about the changes to the winter fuel payments here...

The British airline has said it is dropping its daily flight to Beijing. 

The flight has been removed from its schedule from 27 October, and the airline told Sky News it is "pausing" its route to the Chinese city. 

"We're contacting any affected customers with rebooking options or to offer them a full refund. We continue to operate daily flights to Shanghai and Hong Kong," it said. 

It did not say why the suspension was being put in place. 

British Airways had been operating four weekly flights to Beijing's new Daxing airport on Mondays, Tuesdays, Thursdays and Saturdays.

Customers will still be able to purchase China Southern flights to Beijing on the British Airways website due to an existing joint business agreement. 

The news comes weeks after Virgin Atlantic scrapped its UK flights to Shanghai, saying it was a "commercial decision" due to "significant challenges and complexities on this route".

Flight times to some Asian countries in particular are taking much longer due to having to avoid Russian airspace during its invasion of Ukraine, and it's thought this could be partly behind the decision.

Geneva is the most expensive city to live in, according to new data. 

Internet database Numbeo found in its cost of living index , which it publishes every six months, that the Swiss city had the highest overall cost of living score.

In second place was the Swiss city of Zurich while New York came in at third.

Perhaps surprisingly for anyone who lives in London, the capital city was not featured in the top 10 (it came in 13th).

As for other UK cities, Edinburgh came in 30th - just above Amsterdam - while Manchester and Glasgow were 53rd and 54th.

US cities made up much of the top of the list. 

The database company looked at factors such as the cost of groceries, eating in restaurants, rental costs and how far local currency goes to formulate its results.

Where are the 10 most expensive cities in the world?

3. New York

4. San Francisco

6. Reykjavik

7. Washington DC

9. Los Angeles

10. Chicago

By Daniel Binns, business reporter

The Footsie is down again this morning as stock markets wobble over the state of the US economy - with JP Morgan predicting there is a 45% chance of a recession there next year.

The finance giant also upped its forecast for the chances of one happening this year in the world's largest economy to 35%.

Markets around the world had been gradually recovering in recent days following Monday's sharp falls, but the situation appears to be on the downward trend again on Thursday.

Asian markets also slumped earlier, with Japan's Nikkei 225 Index - which was among the biggest losers on Monday - down 0.7% at the close.

This morning the FTSE 100 is down more than 1%, while the FTSE 250 has fallen 1.4%.

The top gainer is insurance company Beazley, which is up more than 14% after it upgraded its outlook for the year.

The firm, which commands almost a tenth of the global cyber insurance market, also reported a doubling of its pre-tax profits for the first half of 2024.

Another riser is Ladbrokes owner Entain, which has gained 7.5%. 

It comes after the gambling firm, which also owns Coral, upped its annual forecast after receiving a boost from betting on the Euros and Premier League.

The worst-performing companies on the index on Thursday include manufacturing firm Spirax Group, which has slipped 9%, and BT Group, which has fallen 5%.

However, in contrast to the stock market, the price of oil is continuing to recover this week.

A barrel of the benchmark Brent crude is currently priced at $78 (£61), up from $76.5 (£60) this time yesterday.

On the currency markets, £1 buys $1.27 US or €1.16 this morning, similar to Wednesday's rates.

By Jess Sharp , Money reporter

Whether it's global warming, an impending economic disaster or the idea of never owning a home, young people are worrying about the future - and are "doom spending" to cope. 

If you haven't heard of the term, here's a quick explanation:

Doom spending is basically spending money on short term, instant enjoyment, rather than saving it for the future, to cope with economic stress and worries. 

It could be described as Gen Z's version of retail therapy. 

To demonstrate that, here's a TikTok as an example...

A recent study by Credit Karma found 43% of millennials and 35% of Gen Zs doom spend to make themselves feel better. 

Fuelled by social media, the trend has almost become the norm, with many young people taking to TikTok to complain about the state of their financial futures. 

One viral video created by Maria Melchor, also known as @firstgenliving, has been viewed more than 1.7 million times. 

In the clip, she says: "We can't afford anything else. Homeownership or starting a family is so out of reach that we are using that down payment or kid money on whatever it is that we can afford that will bring us the semblance of the kind of adulthood we were promised."

Thousands of videos have been posted online, with people sharing their experiences of doom spending, advising others how to avoid it, or branding the idea as stupid. 

Louise Hill, the chief executive and co-founder of Go Henry, said young people were often influenced to buy things they don't need as they're continually exposed to new products online. 

She pointed out the #TikTokMadeMeBuyIt trend, where users show off recent items they have bought online, as an example. 

More than 8.4 million videos using the hashtag have been posted on TikTok. 

"A lack of financial education can heighten this behaviour, as people lack key money management skills and the ability to differentiate between their needs and wants," Ms Hill told the Money team.

"For young people, the ongoing cost of living crisis, student loan debt, and feeling like they won't ever be able to afford milestone purchases like a house can push them towards doom spending. 

"Social media can pile on the purchase pressure too, especially if they see influencers or friends showcasing their latest buys online." 

While doom spending might seem like a harmless habit, it can lead to a cycle of struggling to save and financial trouble if people start borrowing money to pay for it. 

Ms Hill warned the situation can become more "difficult" if people turn to buy now, pay later plans to fund it.

"Spending excessively now could also make it hard to save up for those important milestone purchases. Understanding the difference between needs and wants is crucial, as it helps prioritise spending on essential items and reduces unnecessary expenses," she said. 

She advised people to create a savings goal and work towards it when they want to buy something new, instead of purchasing it straight away. 

"By the time you've saved enough for it, think about whether you still really want it. This is a good way to practice mindful spending and move away from always seeking instant gratification. 

"All kids and teens need to understand how money and spending is linked to their self-esteem. You can't buy a lifestyle, and you won't feel better about the future by spending too much now.

"With small steps like these, young people will have the confidence to save for a range of goals, say no to peer pressure, and find better ways to cope when they feel down." 

For Savings Guide this week, Savings Champion   co-founder Anna Bowes looks at the best fixed rate bonds and ISAs.

The base rate cut that we've been expecting has finally happened, great news for borrowers, but not for savers. 

And unfortunately, some providers have been lightning fast with cutting their rates.

Although those with one-year accounts maturing at the moment may find that the rates they can achieve now have fallen a little from a high point 12 months ago, the top fixed-term bond and ISA rates have been pretty stable for a few months now, whilst the market paused waiting for the base rate cut.

However, they are now starting to fall again! 

You'd expect to see this with variable rate accounts, but even new issues of fixed-term accounts, which should have already anticipated a base rate cut and be priced accordingly, are falling too. 

As more cuts are expected, both to the Bank of England base rate and therefore bank and building societies account rates, now really is the time to lock away some of your cash if you can, even in the lower paying longer-term accounts. 

This could help protect against more cuts – helping your cash earn more for longer.  

A new traffic light-style rating system for workplace pension schemes is set to be introduced.

The aim would be to reduce the number of savers sitting in poor-value pensions, as schemes would be publicly rated red, amber or green.

The Financial Conduct Authority, the Department for Work and Pensions and the Pensions Regulator aim to put the joint framework in place for workplace defined contribution schemes.

Under the plans, schemes will be compared on public metrics that demonstrate value - not just costs and charges, but also investment performance, and service quality.

Poor performing schemes would have to improve or ultimately protect savers by transferring them to better schemes. 

Sixteen million people save for their retirement into defined contribution pension schemes. 

Wall Street's "fear gauge" (proper name: the Chicago Board Options Exchange Volatility Index) has dropped by about 20% today - indicating markets are starting to feel more stable. 

VIX surged by as much as 181% on Monday but on Tuesday it recorded a drop of 28% as stock markets rallied around the world.

Global shares have risen after a Bank of Japan official suggested the central bank would refrain from raising interest rates amid an unstable time in the market.

VIX is Wall Street's most-watched gauge of investor anxiety.

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Netanyahu, Defiant, Appears to Have Gone Rogue, Risking a Regional War

Ignoring the efforts of President Biden and the condemnation of many allies, the Israeli prime minister is forcing the pace of the war and feeding the revolt of the far right.

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By Steven Erlanger

Steven Erlanger, a former bureau chief in Israel, has spent many weeks there and in the West Bank since Oct. 7.

Follow our latest updates on the Middle East crisis here .

As the Biden administration and its allies try to secure an elusive cease-fire in Gaza, Israel appears to have gone rogue.

Benjamin Netanyahu, Israel’s prime minister, came to Washington last week to give a defiant speech. Despite international condemnation, he vowed to continue the war against Hamas in Gaza and the West Bank, where Israel is killing and imprisoning scores of Palestinians each week, without any clear idea of its endgame.

The assassinations of senior Hezbollah and Hamas figures abroad have now sharply raised the risks of a larger regional war as Iran, Hamas and Hezbollah prepare retaliation, analysts say.

But the deaths of Fuad Shukr, a senior Hezbollah commander, and Ismail Haniyeh, the political leader of Hamas, will not change the strategic quandary Israel faces over how to end the war, govern Gaza or care for the civilians there. They are more likely to intensify the conflict than diminish it, making progress on a Gaza cease-fire even more difficult.

Israel says it does not want to occupy Gaza, but has no other solution to provide order; Hamas refuses to surrender, despite the thousands of dead. While Washington sees a cease-fire followed by a regional deal as an answer, Mr. Netanyahu is contemptuous of the idea. He believes only force will compel Hamas to concede and restore Israel’s strategic deterrence toward Iran and its proxies, especially Hezbollah.

Absent a clear goal in the war, however, Mr. Netanyahu’s defiance is dividing Israel from its allies and the country itself. It has further shaken trust in his leadership. It is fueling suspicions that he is keeping the country at war to keep himself in power. It is intensifying a deep rift inside the society — about the fate of Israeli hostages, the conduct of the war and the rule of law — that is challenging the institutional bonds that hold Israel together.

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