Security business compromises of various vertical of the industry like IT Security which is popular and growing field, but it requires high specialized skills and training, Home Security consist of alarms and monitoring service, providing security to large office building which leads to more equipment installation and hire a crew of skilled installers and finally Security guard service. Based on the skill set, knowledge and experience one must choose the right business sector and later, can explore all the verticals of it. Before starting the business, choosing the right business model is essential to become the owner of a security business such as purchasing an existing security business or to buy into a franchise or build your own business.
The option of acquiring an existing business with a reputation in the market base will not come cheaply. Franchise business owner have the support system and usually coaching service with the brand recognition in the industry. The last option, independent business owner, has a complete control and freedom to run your business your way. The business entity has to obtain licenses and permits in order to operate a security business in the country. Writing a Business plan helps the entrepreneur to understand, to visualize, to plan and to identify risks, even before making any investments in the business. Preparing a business plan involves detailed research so that all the aspects of the given business are evaluated and appropriate decisions are made. Determine the expected profitability of your security business and analyze the competition to learn about potential clients in the market.
The business plan should include a detailed financial projection of the budget for securing funding and marketing strategy is important in any business to acquire customer. Insurance your company is important to protect you and your company from various miscellaneous situation. Acquire all the necessary licenses like security guard license, private patrol operator license and qualified manager license. According to a report by FICCI-Grant Thornton, Indian security is excepted to double from 40,000 crore in 2014 to 80,00 crore in 2020. While 75%-80% of the market share is owned by the manned guarding is the largest segment in the industry, whereas the cash service market covers about 25% of the market which is the second largest segment.
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All organizations are made up of group of capabilities that are coming from People, Processes and Systems. These capabilities are working together in a seamless manner to deliver the requisite capabilities to the customer. The various capabilities that need to be addressed in a security business plan are given below:
Managing director, deputy chairman, executive secretary, manager administration, manager account, account assistant, operation manager, personnel officer, commercial officer, public relation officer, tender & procurement officer, security officers, security supervisors, security guards, internal relation and external relation officer, training supervisor.
Security policy management, risk management, planning management, training management, account management, access control and operational management, incident management.
Security guard clothing, bullet proof vest, high visibility clothing, Flashlight, security guard baton, boots, security guard belt, pepper spray, a cell phone, heated vest, digital camera, a handgun, a mini-first aid kit, two-way radio and administrative equipment.
Most of the businesses have professional bodies across the globe and being associated with these organizations tremendously helps in understanding the current trends in business. Some of the professional bodies are listed below for your reference:
Security association Singapore SAS Secretariat Office, Econ Building, 2 Ang Mo Kio St 64, #03-04 Singapore 569084
British Security Industry AssociationAnbrian House (First Floor),
1 The Tything,
Security Association of South AfricaSuite 147, Postnet X2, Helderkruin 1733
Security Association of India26, Welfare Chamber CHS Ltd.
Plot No.73, D-D-C, Sector-17,
Vashi, Navi Mumbai-400 705
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