security of a business plan

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’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

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

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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How to Start a Security Company

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How To Start a Security Company

How to start a security company faqs, helpful slideshows, videos & images, additional resources in the security industry.

Starting your own security company can be very profitable. With proper planning, execution and hard work, you can enjoy great success. Below you will learn the keys to launching a successful security company.

Importantly, a crucial step in starting a security company is to complete your business plan. To help you out, you should download Growthink’s Ultimate Business Plan Template here.

Download our Ultimate Business Plan Template here

16 Steps To Start a Security Company

Decide Which Type of Security Company To Open
Choose the Name for Your Security Company
Develop Your Security Company Business Plan
Choose the Legal Structure for Your Security Company
Secure Startup Funding for Your Security Company (If Needed)
Secure a Location for Your Business
Register Your Security Company With the IRS
Open a Business Bank Account
Get a Business Credit Card
Get the Required Business Licenses and Permits
Get Business Insurance for Your Security Company
Buy the Right Security Company Business Equipment
Develop Your Security Company Marketing Materials
Purchase and Setup the Software Needed to Run Your Security Company
Hire Employees
Open for Business

1. Decide Which Type of Security Company To Open

There are many types of security companies, each providing different services. Some common types of security businesses include home security companies, security guard companies, and event security companies.

Be sure to explore each type of security business and figure out which is a good match for your new business. You’ll also want to check the startup costs for each type of security business and do some local research to determine if there is a market for the services you want to provide.

2. Choose the Name for Your Security Company

Once you have picked which type of security business to open, you can choose a name.

This is a very important choice since your company name is your brand and will last for the lifetime of your business. Ideally you choose a name that is meaningful and memorable. Here are some tips for choosing a name for your security company:

Make sure the name is available. Check your desired name against trademark databases and your state’s list of registered business names to see if it’s available. Also check to see if a suitable domain name is available.
Keep it simple. The best names are usually ones that are easy to remember, pronounce and spell.
Think about marketing. Come up with a name that reflects the desired brand and/or focus of your security company.

3. Develop Your Security Company Business Plan

One of the most important steps in starting a security company is to develop your business plan. The purpose of a business plan is to ensure that you fully understand your market and your business strategy. The plan also provides you with a roadmap to follow and if needed, to present to funding sources to raise capital for your business.

Your security company business plan should include the following sections:

Executive Summary – this section should summarize your entire business plan so readers can quickly understand the key details of your security company.
Company Overview – this section tells the reader about the history of your security company and what type of security company you operate. For example, do you offer event security, personal security, or private detective services? You can also include your mission statement in this section.
Industry Analysis – here you will document key information about the security industry. Conduct market research and document how big the industry is and what trends are affecting it.
Customer Analysis – in this section, you will document who your ideal or target customers are and their demographics. For example, are your target customers homeowners or business owners?
Competitive Analysis – here you will document the key direct and indirect competitors you will face and how you will build competitive advantage.
Marketing Plan – your marketing plan should address the 4Ps: Product, Price, Promotions and Place.
Product : Determine and document what products/services you will offer
Prices : Document the prices of your products/services
Place : Where will your business be located and how will that location help you increase sales?
Promotions : What promotional methods will you use to attract potential clients to your security company? For example, you might decide to use pay-per-click advertising, public relations, search engine optimization and/or social media marketing.
Operations Plan – here you will determine the key processes you will need to run your day-to-day operations. You will also determine your staffing needs. Finally, in this section of your plan, you will create a projected growth timeline showing the milestones you hope to achieve in the coming years.
Management Team – this section details the background of your company’s management team.
Financial Plan – finally, the financial plan answers questions including the following:
What startup costs will you incur?
How will your security company make money?
What are your projected sales and expenses for the next five years?
Do you need to raise funding to launch your business?

4. Choose the Legal Structure for Your Security Company

Next you need to choose a legal business structure for your security company and register it and your business name with the Secretary of State in each state where you operate your business.

Below are the five most common legal structures:

1) Sole Proprietorship

A sole proprietorship is a business entity in which the owner of the security company and the business are the same legal person. The owner of a sole proprietorship is responsible for all debts and obligations of the business. There are no formalities required to establish a sole proprietorship, and it is easy to set up and operate. The main advantage of a sole proprietorship is that it is simple and inexpensive to establish. The main disadvantage is that the owner is liable for all debts and obligations of the business.

A partnership is a legal structure that is popular among small businesses. It is an agreement between two or more people who want to start a security company together. The partners share in the profits and losses of the business.

The advantages of a partnership are that it is easy to set up, and the partners share in the profits and losses of the business. The disadvantages of a partnership are that the partners are jointly liable for the debts of the business, and disagreements between partners can be difficult to resolve.

3) Limited Liability Company (LLC)

A limited liability company, or LLC, is a type of business entity that provides limited liability to its owners. This means that the owners of an LLC are not personally responsible for the debts and liabilities of the business. The advantages of an LLC for a security company include flexibility in management, pass-through taxation (avoids double taxation as explained below), and limited personal liability. The disadvantages of an LLC include lack of availability in some states and self-employment taxes.

4) C Corporation

A C Corporation is a business entity that is separate from its owners. It has its own tax ID and can have shareholders. The main advantage of a C Corporation for a security company is that it offers limited liability to its owners. This means that the owners are not personally responsible for the debts and liabilities of the business. The disadvantage is that C Corporations are subject to double taxation. This means that the corporation pays taxes on its profits, and the shareholders also pay taxes on their dividends.

5) S Corporation

An S Corporation is a type of corporation that provides its owners with limited liability protection and allows them to pass their business income through to their personal income tax returns, thus avoiding double taxation. There are several limitations on S Corporations including the number of shareholders they can have among others.

Once you register your security company, your state will send you your official “Articles of Incorporation.” You will need this among other documentation when establishing your banking account (see below). We recommend that you consult an attorney in determining which legal structure is best suited for your company.

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5. Secure Startup Funding for Your Security Company (If Needed)

In developing your security company plan, you might have determined that you need to raise funding to launch your business.

If so, the main sources of funding for a security company to consider are personal savings, family and friends, credit card financing, business loans, crowdfunding and angel investors. Angel investors are individuals who provide capital to early-stage businesses. Angel investors typically will invest in a security company that they believe has high potential for growth.

6. Secure a Location for Your Business

The next step to starting a security company is finding a location for your business. This is important because you will need a place to store your equipment and hold meetings with clients. You may want to consider renting office space or a warehouse.

To find the right space, consider:

Driving around to find the right areas while looking for “for lease” signs
Contacting a commercial real estate agent
Doing commercial real estate searches online
Telling others about your needs and seeing if someone in your network has a connection that can help you find the right space

7. Register Your Security Company With the IRS

Next, you need to register your business with the Internal Revenue Service (IRS) which will result in the IRS issuing you an Employer Identification Number (EIN).

Most banks will require you to have an EIN in order to open up an account. In addition, in order to hire employees, you will need an EIN since that is how the IRS tracks your payroll tax payments.

Note that if you are a sole proprietor without employees, you generally do not need to get an EIN. Rather, you would use your social security number (instead of your EIN) as your taxpayer identification number.

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8. Open a Business Bank Account

It is important to establish a bank account in your security company’ name. This process is fairly simple and involves the following steps:

Identify and contact the bank you want to use
Gather and present the required documents (generally include your company’s Articles of Incorporation, driver’s license or passport, and proof of address)
Complete the bank’s application form and provide all relevant information
Meet with a banker to discuss your business needs and establish a relationship with them

9. Get a Business Credit Card

You should get a business credit card for your security company to help you separate personal and business expenses.

You can either apply for a business credit card through your bank or apply for one through a credit card company.

When you’re applying for a business credit card, you’ll need to provide some information about your business. This includes the name of your business, the address of your business, and the type of business you’re running. You’ll also need to provide some information about yourself, including your name, Social Security number, and date of birth.

Once you’ve been approved for a business credit card, you’ll be able to use it to make purchases for your business. You can also use it to build your credit history which could be very important in securing loans and getting credit lines for your business in the future.

10. Get the Required Business Licenses and Permits

Every state, county and city has different business license and permit requirements.

Nearly all states, counties and/or cities have license requirements including:

General Business License – This will allow you to operate your business in your state.
Private Security Company License – In order to offer private security services, you will need to obtain a license from your state’s Private Security Board of Licensing.
Private Patrol Operator’s License – A private patrol operator license, or PPO license, is a license that is issued by the state in which a security company is operating. This license allows the security company to provide security services to businesses and individuals. In order to obtain a PPO license, the security company must meet certain requirements, such as having liability insurance and posting a bond.
Alarm Company License – If your security company will be installing and/or monitoring alarms, you will need to obtain an alarm company license.
Private Investigator License – If you plan on providing investigative services, you will need to obtain a private investigator license.
Firearms Permit – In order to provide armed security, you will need to obtain a license to carry firearms.
Zoning Permit – You will need to obtain a permit from your local zoning board in order to operate your business from a commercial location.

Depending on the type of security business you launch and where you open your company, you will have to obtain the necessary state, county and/or city licenses.

11. Get Business Insurance for Your Security Company

Business insurance policies that you should consider for your security company include:

General Liability Insurance – This type of insurance protects your security company from claims that may arise from injuries or property damage that your employees may cause while on the job.
Property Insurance – This type of insurance protects your security company’s building and equipment from damage or theft.
Workers’ Compensation Insurance – This type of insurance provides benefits to your employees if they are injured on the job.
Insurance Bonding – Insurance bonding lets customers know that there is money to reimburse them for any mistakes made by the security company. Some states require insurance bonding for security businesses.

Find an insurance agent, tell them about your business and its needs, and they will recommend policies that fit those needs.

12. Buy the Right Security Company Business Equipment

The type of equipment you need to start your security company largely depends on the services you plan to offer. To run the main office, you will most likely need computers, phones, printers, office furniture, and office supplies. You can also provide employee lockers and break room equipment.

You might also need equipment for your security team, including cell phones, radios, flashlights, uniforms, and security batons. Research the specific needs of your security services to make sure you and your employees are prepared and protected before you begin.

13. Develop Your Security Company Marketing Materials

Marketing materials will be required to attract and retain customers to your security company.

The key marketing materials you will need are as follows:

Logo – Spend some time developing a good logo for your security company. Your logo might appear on uniforms, business cards, social media pages, your website, and across all your marketing efforts. The right logo can increase customer trust and awareness of your brand.
Website – Likewise, a professional security company website provides potential customers with information about the products and/or services you offer, your company’s history, and contact information. Importantly, remember that the look and feel of your website will affect how your target audience perceives you.
Social Media Accounts – Establish social media accounts in your company’s name. Accounts on Facebook, Twitter, LinkedIn and/or other social media networks will help customers and others find and interact with your security company.

14. Purchase and Setup the Software Needed to Run Your Security Company

A security company needs a few types of software.

To begin, most security businesses need software that can help with scheduling and payroll. Other software options will depend on your security services. You might need programs that can do things like monitor alarms or track security patrols. Make sure to explore options that are required for your specific business needs.

Some popular security company software options include SureView, Silvertrac, and Trackforce Valiant.

Research the software that best suits your needs, purchase it, and set it up.

15. Hire Employees

Your new business might need security guards, office staff, and perhaps even a marketing team. Start by posting job ads for security professionals online and in local newspapers. You can also reach out to local colleges and universities to find potential candidates.

Once you’ve received a few applications, invite the candidates in for interviews. During the interview, be sure to ask each candidate about their experience in the security industry, as well as their availability.

Once you have selected the final candidates and conducted background checks, it’s time to make your final decision. Choose the candidates that you feel are the best fit for your company, and extend them an offer. You can plan to build your security personnel over time.

16. Open for Business

You are now ready to open your security company. If you followed the steps above, you should be in a great position to build a successful business. Below are answers to frequently asked questions that might further help you.

How to Finish Your Security Company Business Plan in 1 Day!

Is it hard to start a security company.

No, it's not hard to start a security company. Your first task is to make sure you understand the type of security services you want to offer and check that there is a need for those services in your area. Other challenges include funding the equipment and space needed to start your security business and finding customers. Following the steps outlined above will help you get started.

How Can I Start a Security Company With No Experience?

Starting a security company can be a challenge, especially if you have no experience in the industry. You might consider making connections with experienced professionals in the security industry who can mentor you or offer some insights into how a good security business is run. There are also training classes and online courses available to help you learn more about security as a whole.

What Type of Security Company Is Most Profitable?

The most common and profitable type of security company is a home security company. This type of business offers products and services that help protect homeowners from burglaries, fires, and other disasters. Home security companies typically offer 24-hour monitoring, home automation, and home security systems. There is a lot of competition in this space, however, and a different type of security business may be more profitable in your area.

How Much Does It Cost To Start a Security Company?

There are a few things you'll need to take into account when budgeting for your new security company. The main costs involved will be hiring security guards, which can range from $10-$30 per hour depending on their experience and the type of training they have. You'll also need to factor in the cost of uniforms, equipment, and any office space or vehicles you'll need. Start-up costs for a security company can range from $5,000-$20,000 and beyond, depending on the size and scope of your operation.

What Are the Ongoing Expenses for a Security Company?

When it comes to running a security company, there are some ongoing expenses that you need to be aware of, including:

Insurance - As with any business, it is important to have the right insurance in place. This will protect you in the event that something goes wrong and you are held liable. There are a few different types of insurance that you should consider, including property damage, liability, and workers' compensation.
Equipment & Other Purchases - You will also need to invest in some equipment. This includes things like CCTV cameras, alarm systems, and security guards. The cost of this equipment will vary depending on the size and scope of your business. Purchases count for about 10% of total industry revenue.
Employee Pay - As you will be hiring employees to work for your company, you will need to factor in their pay. Employees should be paid a competitive wage, and you may also need to provide benefits like health insurance. Wages are often the largest cost for a security business.
Marketing - Finally, you need to think about marketing. This is essential in order to spread the word about your company and attract new customers. There are a number of different ways to market a security company, including online, offline, and through word of mouth.
Other - Rent and utility costs account for a small portion of total industry revenue.

How Does a Security Company Make Money?

There are several ways that a security company can make money. The most common business model is to earn money through the sale of products and services. A security company can also make money through the installation of security systems, the monitoring of security systems, and the provision of training services. The right business model for your security company will depend on what you offer.

Is Owning a Security Company Profitable?

Successful security companies can be profitable. There are many factors to consider when determining if your security business will make money, however. The size of your company, the services that you offer, and where you operate your business are all important considerations. Be sure to provide services that customers are willing to pay for in your area and you will be much more likely to make a profit.

How Much Do Security Company Operators Make?

Security company operators and executives receive varied pay amounts based on the success of the company.

Why Do Security Companies Fail?

There are a variety of reasons why security companies fail, from poor management to bad marketing. But whatever the reason, if you're thinking about starting a security company, it's important to be aware of the risks.

One of the biggest mistakes that people make when starting a security company is not doing enough research. Before you start any business, you need to understand the industry and the market. What are the trends? Who are the major players? What services do they offer? How much do they charge?

Another mistake is not having a clear niche. There are a lot of security companies out there, and if you're not focused on a specific market or type of customer, you'll have a hard time standing out. Figure out who your ideal customer is and what needs they have that you can fill. If you are a security guard company, make sure to fully understand that niche.

Finally, don't underestimate the importance of marketing. Marketing is how you let people know about your company and your services. If you don't have a plan for marketing, your security company will likely fail.

How Big Is the Security Industry?

According to IbisWorld, there are 11,133 security companies in the U.S. that generated $31.7 billion in revenue last year. This represents an annual growth rate of 3.1% over the past 5 years.

What Are the Key Segments of the Security Industry?

Security guard services for buildings and grounds are, by far, the largest revenue segment for the industry. Investigation services account for 16% of the industry’s revenue and the remaining revenue is compromised of armored vehicle services, special event security and other service.

What External Factors Affect the Security Company Industry?

A number of factors affect the performance of the security company industry. These drivers include:

Corporate Profit – Changes in corporate profit can determine the renewal or upgrade of contracts and the recruitment of new clients. An increase in corporate profit will cause businesses to spend more on outsourced services, including those offered by this industry.
Number of Businesses – An increase in the number of businesses will boost demand for security services, since more businesses will require security services. The number of US businesses is expected to increase slowly in the coming years.
Crime Rate – Actual and perceived increases in crime lead to upgrades of security systems and services. The crime rate is expected to decline this year, representing a potential threat for the industry.
Value of Private Nonresidential Construction – An increase in this driver is likely to boost industry demand because many of these structures require security services. The total value of private nonresidential construction is expected to increase in the coming years.

What Are the Key Customer Segments in the Security Industry?

The key customer segments in the security company industry are:

Retail and Leisure
Residential and other
Government clients
Financial Institutions
Corporations

How To Market and Manage a Private Security Firm‬

How To Run a Security Company | Entrepreneurial Concepts

Why You Should Hire a Security Firm

Choosing the Best Home Security Company

For additional information on the security market, consider these industry resources:

SDM Magazine: www.sdmmag.com
National Council of Investigation and Security Services: www.nciss.org
Security Magazine: www.securitymagazine.com
National Association of Security Companies: www.nasco.org
Security Company Mavericks: www.securitycompanymavericks.com

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.

Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.

Security Company Business Plan Template

Document description.

This security company business plan template has 31 pages and is a MS Word file type listed under our business plan kit documents.

Sample of our security company business plan template:

Security Company Business Plan [YOUR NAME] [YOUR TITLE] Phone: [YOUR PHONE NUMBER] Email: [[email protected]] [YOUR WEBSITE ADDRESS] Confidentiality Agreement The undersigned reader acknowledges that the information provided by [YOUR COMPANY NAME] in this business plan is confidential; therefore, reader agrees not to disclose it without the express written permission of [YOUR COMPANY NAME]. It is acknowledged by reader that information to be furnished in this business plan is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader may cause serious harm or damage to [YOUR COMPANY NAME]. Upon request, this document is to be immediately returned to [YOUR COMPANY NAME].

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

Excellent work.

excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!

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

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The Silvertrac Extra

The essentials of a security company business plan.

By Johnny Page

Starting a security business requires a well-thought-out business plan. Without a proper plan, it is impossible to build and stabilize an organization, let alone create room for growth and expansion. If you are passionate about private security and thinking about building a successful organization, here are a few key areas that are essential when creating a security company business plan.

How to Start a Security Company?

The answer to how to start a private security company begins with understanding what a business plan is and why it’s necessary. Your business plan is often the same reason you started your security company. You want to provide security to a certain scale and vendors. Once you hone in on who and why that is, you will have the first steps of your plan. Having a plan is necessary in today’s security industry where the economy fluctuates, and business seems to come and go daily. By making a private security business plan, you can get ahead of the game when it comes to the goals of your company and what pitfalls you may experience. Start by asking yourself these questions.

What is your focus?

There are many different types of security companies. Whether you want to supply security for events, corporations, or some other type of business, you’ll have to know what that focus entails when it comes to planning everything from cost, training, structure, and even scheduling.

What security services will you provide?

There are a handful of distinct types of security. Armed or unarmed, event or corporate, global, or local, and what connections they have with the police and the business they serve.

What is your geographical reach?

You can choose to focus on one business type, one city or state, or go global and market yourself as a security company that goes beyond borders.

What types of properties/organizations will you provide security for?

There’s plenty of different markets for security companies. Corporations, government agencies, hospitals, churches, schools, retail stores, banks, and so many more.

What is the ideal size of contract for your business?

It is all too important to find the right amount of business for your business. You must find enough contracts to make sure you’re making a profit but also make sure you aren’t over-extending our business. It is a skill to find the right bid for security contracts for your company without underfunding yourself. The more strain you put on your company by overextending or underfunding yourself the more of a chance the quality of security you provide will go down.

Without properly defining these factors, it is difficult for a security company to gain momentum and build a reputation. You will be targeting every business in every sector, failing to provide quality services. A well-defined private security business plan offers a more focused approach that will help you provide top-quality services in your area of expertise.

Remember, you can always start a business in the security industry , but you can’t always save it.

Developing a Security Company Business Plan

A solid business plan is a great idea no matter what type of business you operate. In the world of security, it is doubly important. It allows you to understand how contracts will affect you and your company from the ground up and prepare for issues that could cause other businesses severe trouble. Something that should be avoided in this time of economic fluctuation. No matter if it’s strategy, finances, scale, or any other aspect; each of them will uncover valuable details on what you want your business to be.

Executive Summary

Executive Summaries are key for getting to the minute details of your business without having to skim over a large document. Any Executive Summary should have the key points of a report and the findings not only in an easy-to-read fashion, but also stripped of any flowery language. The whole goal of this is to get the most notable information of a document or report across in the shortest amount of time.

Company Overview

This is who your company is. Ownership, management, history, goals, any aspects that differentiate you from other companies, and anything else that could be interesting to investors or customers. This is an elongated elevator pitch, or in a way a resume for your business. If it is a selling point of your company, then put it here.

Licensing & General Liability

Before much can happen with your security company, you will need to obtain a Private Patrol Operators (PPO) License , which is regulated by state-run agencies like the Bureau of Security & Investigative Services (BSIS) in California. A PPO license grants the license holder the ability to hire employees that function as security personnel. But to be approved for a PPO security business license , you must secure general liability insurance.

Getting a PPO license can take some time. When planning out your business’s roadmap, make sure to take these time constraints into consideration, as it will be a key factor for when you can officially launch your security business.

Note: Each state has different rules and regulations pertaining to operating a security company. We are using California policy as an example since they continue to have the strictest employer laws , but and are often responsible for progressing industry standards around the country.

Industry, Customer and Competitive Analysis

One big way to understand the challenges your company may face is to learn from your competitors. Seeing the needs of the area in which you want to do business and see how your top competitors are approaching those needs is a terrific way to see if there are any niches you can fit your company in. This makes any sort of industry analysis incredibly valuable. You don’t wait to find yourself in a market full of competitors without your company having any sort of edge on them.

Looking at the customers in your area is good for the same reason. Find what consumers need and are willing to pay to solve that need. By finding out what the market looks like and what the consumers of that market are like you can find out what your company can specialize in and where it is best to focus your marketing on.

Operations Plan

This is where you develop a deeper understanding of your company's goals and strategy. Consider it as what your company is looking to do. This should be easy to complete once you have the information from the steps above

As well as your goals, there should be a brief outline of the timeframe in which you would want those goals to be achieved and a basic strategy in which your company will approach them. This is an important document for your investors and any potential business contributors, as they will get a sense of the ideals and future your company has in mind.

Employee Structure & Management Plan

Building a sound security team structure within your business will help maintain internal order and high customer service standards. Not to mention, it will be much easier to grow your team and business if you already have a strong structure in place when you are ready to expand. The first step is building a strong security guard management team. As the owner of a small, new security company, it can be challenging to wear the different hats needed to run your business. Even starting out with just one supervisor, it will alleviate many of the managerial duties, freeing you to focus on other parts of the business. A good supervisor should have a strong background in 3 different areas:

Organizing, directing, and managing security officers
Motivate, train, and coach security officers
Time management

With these areas covered, a supervisor can lead the charge on building and training a security force that is disciplined, motivated and continually improving .

As the team grows, the company will be comprised of like-minded employees who hold the same values and ethics that will be reflected in their work. It will increase employee retention and satisfaction and continually improve the quality of service the company provides.

Financial Plan

Knowing what your finances will look like is a fantastic way to prepare for expansion and potential costs. Having a plan financially will allow for out-of-the-blue costs to not be as overwhelming on you or the company.

Consider having a five-year plan, and a realistic one at that. Also, make a spreadsheet for your cash flow, balances, and income down to a monthly increment. This will all allow you to see how your business can grow and perform.

Sales & Marketing Strategies

Implementing a sales and marketing plan upfront will give your security business the initial jump-start it needs, rather than figuring it out as you go. It is important to make these strategies scalable, so you aren’t losing valuable resources like time and money.

As mentioned earlier, when building out your security company business plan, you must determine the scope and geographical reach of your services. Once this is completed, you can begin to strategize the best sales and marketing tactics to answer questions like:

What are the marketing strengths and weaknesses of your top competitors in the region?
Where do you find leads in the region you are targeting?
Do you have a strong referral base ?
How do your sales representatives play to the needs of your target audience and the weaknesses of your competitors?
What is the most effective outreach strategy for your target audience?
What online platforms should we be using to generate awareness of your services?

Once you can start to identify the answers to these questions, you can start to build a security marketing strategy that will complement the efforts of the sales team and drive brand awareness and lead generation. Again, building a repeatable & scalable plan is important so that you aren’t wasting resources upfront and can grow your efforts as the business allows for it.

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Johnny Page

Johnny is a Customer Success Enthusiast for Silvertrac Software who is passionate about business, technology, and (of course) our customers! Johnny spent time in the security industry in Business Development, Marketing, and Operations before joining the Silvertrac team.

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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.

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.

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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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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 Consulting Business Plan Template & Guidebook

Are you starting a security consulting business? Having a strong business plan in place is essential for the success of your business. Our Security Consulting Business Plan Template & Guidebook is designed to help you easily create a comprehensive business plan for your security consulting business. This guidebook provides step-by-step instructions on how to create each section of your business plan, as well as helpful tips and examples to ensure that your plan is thorough and effective. With our template and guidebook, you can confidently put together a solid business plan to help you achieve your security consulting business goals.

Get worry-free services and support to launch your business starting at $0 plus state fees.

How to Start a Profitable Security Consulting Business [11 Steps]
25 Catchy Security Consulting Business Names:
List of the Best Marketing Ideas For Your Security Consulting Business:

How to Write a Security Consulting Business Plan in 7 Steps:

1. describe the purpose of your security consulting business..

The first step to writing your business plan is to describe the purpose of your security consulting business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking about the customers’ problems. It also helps you identify what makes your business different from others in its industry.

It also helps to include a vision statement so that readers can understand what type of company you want to build.

Here is an example of a purpose mission statement for a security consulting business:

At Security Consulting, our mission is to provide clients with the highest level of security and protection services, utilizing our expertise and cutting-edge technology to safeguard their businesses, homes, and personal assets. We strive to be a trusted partner for our clients, delivering personalized solutions that meet their unique security needs and exceed their expectations. Our team is dedicated to staying ahead of the curve in an ever-evolving industry, constantly updating our knowledge and skills to provide the most effective and innovative solutions to our clients.

2. Products & Services Offered by Your Security Consulting Business.

The next step is to outline your products and services for your security consulting business.

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

What is my business?
What are the products and/or services that I offer?
Why am I offering these particular products and/or services?
How do I differentiate myself from competitors with similar offerings?
How will I market my products and services?

You may want to do a comparison of your business plan against those of other competitors in the area, or even with online reviews. This way, you can find out what people like about them and what they don’t like, so that you can either improve upon their offerings or avoid doing so altogether.

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your security consulting business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals.

A good marketing plan for your security consulting business includes the following elements:

Target market

Who is your target market?
What do these customers have in common?
How many of them are there?
How can you best reach them with your message or product?

Customer base

Who are your current customers?
Where did they come from (i.e., referrals)?
How can their experience with your security consulting business help make them repeat customers, consumers, visitors, subscribers, or advocates for other people in their network or industry who might also benefit from using this service, product, or brand?

Product or service description

How does it work, what features does it have, and what are its benefits?
Can anyone use this product or service regardless of age or gender?
Can anyone visually see themselves using this product or service?
How will they feel when they do so? If so, how long will the feeling last after purchasing (or trying) the product/service for the first time?

Competitive analysis

Which companies are competing with yours today (and why)?
Which ones may enter into competition with yours tomorrow if they find out about it now through word-of-mouth advertising; social media networks; friends' recommendations; etc.)
What specific advantages does each competitor offer over yours currently?

Marketing channels

Which marketing channel do you intend to leverage to attract new customers?
What is your estimated marketing budget needed?
What is the projected cost to acquire a new customer?
How many of your customers do you instead will return?

Form an LLC in your state!

4. Write Your Operational Plan.

Next, you'll need to build your operational plan. This section describes the type of business you'll be running, and includes the steps involved in your operations.

In it, you should list:

The equipment and facilities needed
Who will be involved in the business (employees, contractors)
Financial requirements for each step
Milestones & KPIs
Location of your business
Zoning & permits required for the business

What equipment, supplies, or permits are needed to run a security consulting business?

To run a security consulting business, the following equipment, supplies, and permits are needed:

Computer and office equipment
Security analysis and assessment software
Security surveillance equipment
Business license
Background checks for employees

In addition to these items, it is also important for the business to have knowledgeable and experienced employees who are trained in security analysis and assessment techniques.

5. Management & Organization of Your Security Consulting Business.

The second part of your security consulting business plan is to develop a management and organization section.

This section will cover all of the following:

How many employees you need in order to run your security consulting business. This should include the roles they will play (for example, one person may be responsible for managing administrative duties while another might be in charge of customer service).
The structure of your management team. The higher-ups like yourself should be able to delegate tasks through lower-level managers who are directly responsible for their given department (inventory and sales, etc.).
How you’re going to make sure that everyone on board is doing their job well. You’ll want check-ins with employees regularly so they have time to ask questions or voice concerns if needed; this also gives you time to offer support where necessary while staying informed on how things are going within individual departments too!

6. Security Consulting Business Startup Expenses & Captial Needed.

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Typically, expenses for your business can be broken into a few basic categories:

Startup Costs

Startup costs are typically the first expenses you will incur when beginning an enterprise. These include legal fees, accounting expenses, and other costs associated with getting your business off the ground. The amount of money needed to start a security consulting business varies based on many different variables, but below are a few different types of startup costs for a security consulting business.

Running & Operating Costs

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

Marketing & Sales Expenses

You should include any costs associated with marketing and sales, such as advertising and promotions, website design or maintenance. Also, consider any additional expenses that may be incurred if you decide to launch a new product or service line. For example, if your security consulting business has an existing website that needs an upgrade in order to sell more products or services, then this should be listed here.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your security consulting business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses.

Here are some steps you can follow to devise a financial plan for your security consulting business plan:

Determine your start-up costs: This will include the cost of purchasing or leasing the space where you will operate your business, as well as the cost of buying or leasing any equipment or supplies that you need to start the business.
Estimate your operating costs: Operating costs will include utilities, such as electricity, gas, and water, as well as labor costs for employees, if any, and the cost of purchasing any materials or supplies that you will need to run your business.
Project your revenue: To project your revenue, you will need to consider the number of customers you expect to have and the average amount they will spend on each visit. You can use this information to estimate how much money you will make from selling your products or services.
Estimate your expenses: In addition to your operating costs, you will need to consider other expenses, such as insurance, marketing, and maintenance. You will also need to set aside money for taxes and other fees.
Create a budget: Once you have estimated your start-up costs, operating costs, revenue, and expenses, you can use this information to create a budget for your business. This will help you to see how much money you will need to start the business, and how much profit you can expect to make.
Develop a plan for using your profit: Finally, you will need to decide how you will use your profit to grow and sustain your business. This might include investing in new equipment, expanding the business, or saving for a rainy day.

Frequently Asked Questions About Security Consulting Business Plans:

Why do you need a business plan for a security consulting business.

A business plan is a document that outlines the goals and objectives of a business, as well as the strategies and tactics that will be used to achieve those goals. It is important to have a business plan for your security consulting business because it helps to focus the efforts of the company, communicate the business's goals and objectives to potential investors, and provide a roadmap for the business to follow. Additionally, a business plan can be used to help secure funding from investors or lenders, who will want to see that the business has a solid plan in place before they provide funding.

How to write a business plan for your security consulting business?)

To build a business plan for your security consulting business, start by researching your industry, competitors, and target market. Use this information to define your business's goals and objectives, as well as the strategies and tactics that you will use to achieve those goals. Next, create a financial plan that outlines your projected income, expenses, and profit. This should include a projected income statement, cash flow statement, and balance sheet. Once you have all of this information, you can use it to create a comprehensive business plan that outlines the goals and objectives of your business, as well as the strategies and tactics that you will use to achieve those goals. A well-written security consulting business plan contains the following sections: Purpose, Products & Services, Marketing Plan (including Marketing Strategy), Operations/Management Plan (including Operations/Management Strategy), Financial Plan (including Financial Forecasts), and Appendixes.

Can you write a security consulting business plan yourself?

Yes, you can write a security consulting business plan yourself. Writing a business plan is a valuable exercise that can help you clarify your business idea, identify potential challenges and opportunities, and develop a roadmap for success. While there are many resources and templates available to help you write a business plan, the process of creating one is ultimately up to you.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

From assessing market viability and formulating business plans to selecting the right technology and navigating the financial landscape, I am dedicated to helping fellow entrepreneurs overcome challenges and unlock their full potential. As a steadfast advocate for small business success, my mission is to pave the way for a new generation of innovative and driven entrepreneurs who are ready to make their mark on the world.

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How to Create a Security Plan for Your Business

Businesses in the United States, particularly the small and medium scale, are vital to the economy's growth. As of today, over 56 million jobs in the United States come from these businesses.

Unfortunately, the scale of these businesses makes them a target for theft, vandalism, and other related criminal activities. When these crimes occur, they result in grave losses that could be worth millions of dollars.

To avoid these losses, business owners must develop their security plans to identify their vulnerabilities and make out strategies to keep their companies safe and secure.

This article discusses how you can create a security protection plan to secure all assets in your business.

Business Security Questions? CLICK TO CONTACT US NOW

The Process of Creating a Master Security Plan

A master security plan is a detailed, long-term strategy that entails all the aspects of security operations in an organization. For such programs to be successful, they must be based on two core principles.

First, it must be in line with your business's strategic plans while combining the best principles for protection and support.

For example, if one of your critical business goals is to value customer relationships, your security plan should include customer safety. As such, you would be looking to protect customer records and information both online and offline.

Second, your business security plan will only work well when it inputs all your business's critical stakeholders. All these people will come together to evaluate security risks and develop a documented plan that they would test, implement and maintain over time.

How Do You Evaluate Existing Security Risks?

To evaluate existing security risks, the management has to go through a series of information gathering. Risk evaluation allows you to plan for any risks using the already existing business security layout.

You will need to work with different leaders in your firm, starting with those at the C-suite and then with the HR manager and other key leaders in your organization. You might also have to do an on-site assessment to see the issues on the ground correctly.

You will be looking for records of theft, corruption, hazards, extortions, and any other security challenges. As you explore these challenges, you should also consider their impacts financially and the impacts on people's safety in your environment. You should also consider how much these risks affect your production schedules, delivery, and your company's overall reputation.

To get the most out of the evaluation exercise, you must ask as many questions as possible to get all the needed information.

Addressing the Risks with Security System Tools and Equipment

Understanding the risks alone would not do you any good. Your master security plan must also address the needed tools to combat the security risks you evaluated. The following are some helpful tools.

Video Surveillance

Video surveillance cameras are security tools that allow you to record and collect video footage of activities on your business's premises. In many cases, the police would require the footage from these devices as evidence for prosecution. The footage can also help expedite your claims from insurance companies.

Alarm Systems

Monitored alarm systems are essential tools for the safety of your business. They can be security alarm systems and fire alarm systems , and their job is to notify you and the authorities in cases of emergencies and crimes.

Access Control

Access control refers to pass cards, keys, pin codes, or other security technologies that you can use to secure sensitive areas of your business. Using access control tools, you can limit the number of people who have access to certain areas on your premises.

Staff Training / Monitoring

Training your staff can help reduce the occurrences of crime. The training will cover how they can recognize security threats and deal with them without causing issues for your customers.

Training alone is not enough. You also need to monitor your staff after you have trained them. Aside from the fact that monitoring boosts productivity, it will also reduce the risk of your employees committing crimes.

Contact Koorsen for Your Security Needs!

To learn more about Business Security Plans and how Koorsen Fire & Security can help address security risks, contact your local branch today. At Koorsen Fire & Security, our security experts can help evaluate your business's potential security risks and provide a customized solution to reduce security and safety issues.

Topics: Monitoring , Commercial Security , Small Business Security , Video Surveillance

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Disclaimer: The information in this article is for informational purposes only. It is believed to be reliable, but Koorsen Fire & Security assumes no responsibility or liability for any errors or omissions in the content of this article. It does not constitute professional advice. The user of this article or the product(s) is responsible for verifying the information's accuracy from all available sources, including the product manufacturer. The authority having jurisdiction should be contacted for code interpretations.

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9 cybersecurity tips to protect your business

An easy-to-implement plan for small business owners and employees to protect against cyberattacks.

Hero image of someone looking at their online banking account, also holding a phone with the same information

Cyberattacks cost your business time and money, and if sensitive information about your customers gets out, it could also ruin your reputation.

Common types of cyberattacks

Before I show you what I do to secure my infrastructure, I want to quickly go over some of the most common attacks small businesses face.

RAT. A Remote Access Trojan allows attackers to access your computer's camera and microphone, and install other types of malware.

Keylogger. This one records everything you type on your keyboard (terrifying enough for you?), and it's often used to steal passwords and credit card details.

Shoulder surfing. This is when attackers gather personal or private information by simply looking at your screen.

Malware attack. Malware is any kind of malicious software meant to harm or exploit a device, service, or network. It's an umbrella term, and it includes things like viruses, Trojans, worms, ransomware, and more.

Man-in-the-Middle attack. A MitM attack intercepts the communication between you and the server. For example, if you wanted to log in to your bank account, the attacker would receive your login information and then send it to the bank, the bank would then send the response to the attacker, and the attacker would send it back to you. This is very common when connecting to public Wi-Fi.

What each team member can do to secure small business infrastructure

1. don't leave your computer unattended.

This means that anyone wanting to take a peek at my computer, install malware, or simply steal it, would have plenty of time to do it. To prevent any of these things from happening, I just put my laptop inside a sleeve and take it with me.

Since it's a small coffee shop, it's pretty easy to lose my spot, so I typically leave my backpack on top of my chair and my headphones on the table. Obviously, I don't keep anything of value inside the backpack (it's often empty) in case someone decides to take it.

I know that not leaving your belongings unattended might sound obvious, but I see it happening almost every time I go to the coffee shop. Even if it's just for a minute or two, that's enough time for someone to download malware or steal your laptop. Just take your stuff with you—it's not worth the risk.

2. Use a VPN when connecting to public Wi-Fi

A few years ago, I used to travel a lot for work, which meant I had to connect to many unsecured Wi-Fi networks in airports and hotels. The issue with these types of networks is that hackers can position themselves between you and the connection point—Man-in-the-Middle attacks.

So instead of your data going directly to the hotspot, it goes to the hacker, who then sends it to the hotspot. This gives them access to anything you send over the internet, which could be emails, bank statements, credit card information, your website's login information, the list goes on. Basically, they can access your systems as if they were you.

An infographic showing the man-in-the-middle attack

Other common things hackers do with these types of unsecured connections are distributing malware and creating fake connecting points to connect to.

3. Use a privacy screen

One thing I saw a lot when traveling was people opening up their laptops in the airplane rows in front of me and working on what was obviously sensitive information. If I'd been interested in learning more about their jobs or stealing their information, I could have easily done it.

If I could see other people's screens, that meant they could see mine. So to prevent people from shoulder surfing me, I use a privacy screen. It's essentially a piece of plastic you put on your laptop screen that allows only someone directly in front of the computer to see what's going on. Anyone looking from the sides will see a completely black screen.

Graphic showing how a privacy screen works

There are plenty of privacy screen brands you can get online, but the brands I've liked the most are SightPro and Akamai. I've tried super cheap ones as well, but they always ended up deteriorating fairly quickly. I guess it's true what they say: "Buy nice or buy twice."

4. Don't click on unknown links

Here's an example of an email I received pretending to be from Norton AntiVirus, but it was actually redirecting me to a different website:

An example of a spam email from someone pretending to be Norton AntiVirus

Sure, it's not the best ripoff of Norton branding, but if I were doing a quick email cleanup, I might not notice. So, before clicking a link, no matter who it's from, I always hover over it to see where it actually goes. The real website is typically shown at the bottom-left corner of the browser screen, as you can see in the image above.

Simply copy all the strings on that list, and then go to your WordPress dashboard > Settings > Discussion > Disallowed Comments Keys > paste the strings > Save Changes.

5. Keep everything up-to-date

Apps seem to require updates all the time, which can seem annoying. But those updates contain important fixes to known vulnerabilities that hackers can exploit to install malware, steal your data, or do any other type of harm to your system.

You can automate the process of keeping things up-to-date. Here's how to enable automatic updates on the two most popular operating systems:

How to enable automatic updates on macOS

Open the App Store > Click App Store on the top menu > Preferences > tick the Automatic Updates box.

How to enable automatic updates on Windows

Open the Microsoft Store > click the three dots on the upper-right corner > Settings > App updates > turn on Update apps automatically.

While you're at it, it's worth doing the same on your phone.

6. Use full-disk encryption

As a small business owner, I have lots of private information on my computer, including banking information, business plans, account numbers, taxes, client data, and more. Having someone access some of this information, especially my clients' data, could seriously damage my business and reputation—not to mention the harm it would do to the client.

If your business stores things like personal health information (PHI) from your clients, and this information gets revealed, you could face huge fines and even jail time for allowing the breach. The HIPAA and FINRA regulations are justifiably strict.

Without full-disk encryption, if someone steals your laptop, they can access the data on your drive, even if you have a password protecting your login: they can simply remove the drive and install it on another computer. With full-disk encryption, they won't be able to see anything that's inside the drive since it'll all be encrypted.

Both macOS and Windows come with free full-disk encryption, which should be enabled by default. However, if yours isn't enabled, you can follow these steps.

How to enable full-disk encryption on macOS

If you're using macOS, then FileVault is the program you want to activate. To do this, click the Apple logo on the top-left corner > System Preferences… > Security & Privacy.

Then, click the FileVault tab > Click on the lock icon at the bottom-left of the window > enter your password > Click Turn On FileVault.

How to enable full-disk encryption on Windows

If you're using Windows, click on the Start button > Settings > Update & Security > Device encryption > click on Turn on.

7. Create regular backups

I typically create backups every month, but if you're constantly creating important information, you can do them weekly or daily. My favorite brand for external hard drives is Western Digital (WD), but Samsung also makes good options.

How to create backups on macOS

To create backups, I like using macOS' built-in backup tool called Time Machine. The cool thing about it is that, once I plug in my hard drive, it works automatically in the background. It continuously saves copies of all my files, apps, and any other important information and excludes useless files in the trash, cache files, and logs.

To use Time Machine, plug in your external drive > go to System Preferences > Time Machine > toggle the switch to On > Select Disk… > select the drive you want to use.

In order to use the drive, it needs to be formatted as macOS Extended (journaled). If yours isn't, Time Machine will ask if you want to reformat it, which will erase all the existing files on it.

How to create backups on Windows

Windows' built-in backup tool is called File History. To start backing up data on Windows, connect your external drive > click Start > Settings > Update & Security > Backup > Add a drive > select the external drive where you want to store the backups.

8. Use strong passwords

Growing up, I used to use the same password for everything. To be honest, I still use it, but only for accounts that don't really matter—like the email account I use to sign up for random newsletters to get coupons and discounts from stores.

A screenshot of LastPass generating a password

Besides keeping everything secure on LastPass, I also like keeping a hard copy of my passwords in a safe place at home, just in case something happens to LastPass or I don't have access to it. If you do write your passwords on a sheet of paper, make sure that you place them in a secure place—i.e., not behind your computer monitor or under the desk.

9. Use two-factor authentication (2FA)

For example, if you enable 2FA for your email account, once you enter your username and password, you'll be asked to enter a unique one-time access code sent to your phone via text or an authenticator app like Microsoft Authenticator, which is the one I use.

So, even if someone knows your email and password, they won't be able to access the system without your phone.

If I'm completely honest, I dislike using two-factor authentication. My issue with it is that I have so many accounts it becomes a little annoying having to go to my phone and verify my identity every time I want to log in.

Still, I'd rather be safe than sorry, so I enable it for important accounts, such as my bank accounts, emails, and websites. If you have online accounts with important information that support two-factor authentication, I recommend enabling it.

If everyone on your team follows these relatively simple steps, it'll add a massive layer of protection against cybercriminals. After all, cyberattackers (usually) want easy targets, so simply by not being one, you're decreasing your risk.

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Christian Coulson

Christian is an industrial engineer with a background in programming who's used his knowledge and experience to grow 7Sigma Physiques—his fitness coaching business and blog with thousands of monthly readers. He now teaches other entrepreneurs how to scale their business at blogstalgia.com.

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FACT SHEET: President Biden Takes Action to Protect American Workers and Businesses from China’s Unfair Trade Practices

President Biden’s economic plan is supporting investments and creating good jobs in key sectors that are vital for America’s economic future and national security. China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports. In response to China’s unfair trade practices and to counteract the resulting harms, today, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses. The Biden-Harris Administration’s Investing in America agenda has already catalyzed more than $860 billion in business investments through smart, public incentives in industries of the future like electric vehicles (EVs), clean energy, and semiconductors. With support from the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act, these investments are creating new American jobs in manufacturing and clean energy and helping communities that have been left behind make a comeback. As President Biden says, American workers and businesses can outcompete anyone—as long as they have fair competition. But for too long, China’s government has used unfair, non-market practices. China’s forced technology transfers and intellectual property theft have contributed to its control of 70, 80, and even 90 percent of global production for the critical inputs necessary for our technologies, infrastructure, energy, and health care—creating unacceptable risks to America’s supply chains and economic security. Furthermore, these same non-market policies and practices contribute to China’s growing overcapacity and export surges that threaten to significantly harm American workers, businesses, and communities. Today’s actions to counter China’s unfair trade practices are carefully targeted at strategic sectors—the same sectors where the United States is making historic investments under President Biden to create and sustain good-paying jobs—unlike recent proposals by Congressional Republicans that would threaten jobs and raise costs across the board. The previous administration’s trade deal with China failed to increase American exports or boost American manufacturing as it had promised. Under President Biden’s Investing in America agenda, nearly 800,000 manufacturing jobs have been created and new factory construction has doubled after both fell under the previous administration, and the trade deficit with China is the lowest in a decade—lower than any year under the last administration. We will continue to work with our partners around the world to strengthen cooperation to address shared concerns about China’s unfair practices—rather than undermining our alliances or applying indiscriminate 10 percent tariffs that raise prices on all imports from all countries, regardless whether they are engaged in unfair trade. The Biden-Harris Administration recognizes the benefits for our workers and businesses from strong alliances and a rules-based international trade system based on fair competition. Following an in-depth review by the United States Trade Representative, President Biden is taking action to protect American workers and American companies from China’s unfair trade practices. To encourage China to eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation, the President is directing increases in tariffs across strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products. Steel and Aluminum The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024. Steel is a vital sector for the American economy, and American companies are leading the future of clean steel. Recently, the Biden-Harris Administration announced $6 billion for 33 clean manufacturing projects including for steel and aluminum, including the first new primary aluminum smelter in four decades, made possible by the Bipartisan Infrastructure Law and the Inflation Reduction Act. These investments will make the United States one of the first nations in the world to convert clean hydrogen into clean steel, bolstering the U.S. steel industry’s competitiveness as the world’s cleanest major steel producer. American workers continue to face unfair competition from China’s non-market overcapacity in steel and aluminum, which are among the world’s most carbon intensive. China’s policies and subsidies for their domestic steel and aluminum industries mean high-quality, low-emissions U.S. products are undercut by artificially low-priced Chinese alternatives produced with higher emissions. Today’s actions will shield the U.S. steel and aluminum industries from China’s unfair trade practices. Semiconductors The tariff rate on semiconductors will increase from 25% to 50% by 2025. China’s policies in the legacy semiconductor sector have led to growing market share and rapid capacity expansion that risks driving out investment by market-driven firms. Over the next three to five years, China is expected to account for almost half of all new capacity coming online to manufacture certain legacy semiconductor wafers. During the pandemic, disruptions to the supply chain, including legacy chips, led to price spikes in a wide variety of products, including automobiles, consumer appliances, and medical devices, underscoring the risks of overreliance on a few markets. Through the CHIPS and Science Act, President Biden is making a nearly $53 billion investment in American semiconductor manufacturing capacity, research, innovation, and workforce. This will help counteract decades of disinvestment and offshoring that has reduced the United States’ capacity to manufacture semiconductors domestically. The CHIPS and Science Act includes $39 billion in direct incentives to build, modernize, and expand semiconductor manufacturing fabrication facilities as well as a 25% investment tax credit for semiconductor companies. Raising the tariff rate on semiconductors is an important initial step to promote the sustainability of these investments. Electric Vehicles (EVs) The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024. With extensive subsidies and non-market practices leading to substantial risks of overcapacity, China’s exports of EVs grew by 70% from 2022 to 2023—jeopardizing productive investments elsewhere. A 100% tariff rate on EVs will protect American manufacturers from China’s unfair trade practices. This action advances President Biden’s vision of ensuring the future of the auto industry will be made in America by American workers. As part of the President’s Investing in America agenda, the Administration is incentivizing the development of a robust EV market through business tax credits for manufacturing of batteries and production of critical minerals, consumer tax credits for EV adoption, smart standards, federal investments in EV charging infrastructure, and grants to supply EV and battery manufacturing. The increase in the tariff rate on electric vehicles will protect these investments and jobs from unfairly priced Chinese imports. Batteries, Battery Components and Parts, and Critical Minerals The tariff rate on lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024. The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The tariff rate for certain other critical minerals will increase from zero to 25% in 2024. Despite rapid and recent progress in U.S. onshoring, China currently controls over 80 percent of certain segments of the EV battery supply chain, particularly upstream nodes such as critical minerals mining, processing, and refining. Concentration of critical minerals mining and refining capacity in China leaves our supply chains vulnerable and our national security and clean energy goals at risk. In order to improve U.S. and global resiliency in these supply chains, President Biden has invested across the U.S. battery supply chain to build a sufficient domestic industrial base. Through the Bipartisan Infrastructure Law, the Defense Production Act, and the Inflation Reduction Act, the Biden-Harris Administration has invested nearly $20 billion in grants and loans to expand domestic production capacity of advanced batteries and battery materials. The Inflation Reduction Act also contains manufacturing tax credits to incentivize investment in battery and battery material production in the United States. The President has also established the American Battery Materials Initiative, which will mobilize an all-of-government approach to secure a dependable, robust supply chain for batteries and their inputs. Solar Cells The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024. The tariff increase will protect against China’s policy-driven overcapacity that depresses prices and inhibits the development of solar capacity outside of China. China has used unfair practices to dominate upwards of 80 to 90% of certain parts of the global solar supply chain, and is trying to maintain that status quo. Chinese policies and nonmarket practices are flooding global markets with artificially cheap solar modules and panels, undermining investment in solar manufacturing outside of China. The Biden-Harris Administration has made historic investments in the U.S. solar supply chain, building on early U.S. government-enabled research and development that helped create solar cell technologies. The Inflation Reduction Act provides supply-side tax incentives for solar components, including polysilicon, wafers, cells, modules, and backsheet material, as well as tax credits and grant and loan programs supporting deployment of utility-scale and residential solar energy projects. As a result of President Biden’s Investing in America agenda, solar manufacturers have already announced nearly $17 billion in planned investment under his Administration—an 8-fold increase in U.S. manufacturing capacity, enough to supply panels for millions of homes each year by 2030. Ship-to-Shore Cranes The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024. The Administration continues to deliver for the American people by rebuilding the United States’ industrial capacity to produce port cranes with trusted partners. A 25% tariff rate on ship-to-shore cranes will help protect U.S. manufacturers from China’s unfair trade practices that have led to excessive concentration in the market. Port cranes are essential pieces of infrastructure that enable the continuous movement and flow of critical goods to, from, and within the United States, and the Administration is taking action to mitigate risks that could disrupt American supply chains. This action also builds off of ongoing work to invest in U.S. port infrastructure through the President’s Investing in America Agenda. This port security initiative includes bringing port crane manufacturing capabilities back to the United States to support U.S. supply chain security and encourages ports across the country and around the world to use trusted vendors when sourcing cranes or other heavy equipment. Medical Products The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026. These tariff rate increases will help support and sustain a strong domestic industrial base for medical supplies that were essential to the COVID-19 pandemic response, and continue to be used daily in every hospital across the country to deliver essential care. The federal government and the private sector have made substantial investments to build domestic manufacturing for these and other medical products to ensure American health care workers and patients have access to critical medical products when they need them. American businesses are now struggling to compete with underpriced Chinese-made supplies dumped on the market, sometimes of such poor quality that they may raise safety concerns for health care workers and patients. Today’s announcement reflects President Biden’s commitment to always have the back of American workers. When faced with anticompetitive, unfair practices from abroad, the President will deploy any and all tools necessary to protect American workers and industry.

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Fact sheet: president biden takes action to protect american workers and businesses from china’s unfair trade practices, office of public affairs.

President Biden’s economic plan is supporting investments and creating good jobs in key sectors that are vital for America’s economic future and national security. China’s unfair trade practices concerning technology transfer, intellectual property, and innovation are threatening American businesses and workers. China is also flooding global markets with artificially low-priced exports. In response to China’s unfair trade practices and to counteract the resulting harms, today, President Biden is directing his Trade Representative to increase tariffs under Section 301 of the Trade Act of 1974 on $18 billion of imports from China to protect American workers and businesses. The Biden-Harris Administration’s Investing in America agenda has already catalyzed more than $860 billion in business investments through smart, public incentives in industries of the future like electric vehicles (EVs), clean energy, and semiconductors. With support from the Bipartisan Infrastructure Law, CHIPS and Science Act, and Inflation Reduction Act, these investments are creating new American jobs in manufacturing and clean energy and helping communities that have been left behind make a comeback. As President Biden says, American workers and businesses can outcompete anyone—as long as they have fair competition. But for too long, China’s government has used unfair, non-market practices. China’s forced technology transfers and intellectual property theft have contributed to its control of 70, 80, and even 90 percent of global production for the critical inputs necessary for our technologies, infrastructure, energy, and health care—creating unacceptable risks to America’s supply chains and economic security. Furthermore, these same non-market policies and practices contribute to China’s growing overcapacity and export surges that threaten to significantly harm American workers, businesses, and communities. Today’s actions to counter China’s unfair trade practices are carefully targeted at strategic sectors—the same sectors where the United States is making historic investments under President Biden to create and sustain good-paying jobs—unlike recent proposals by Congressional Republicans that would threaten jobs and raise costs across the board. The previous administration’s trade deal with China failed to increase American exports or boost American manufacturing as it had promised. Under President Biden’s Investing in America agenda, nearly 800,000 manufacturing jobs have been created and new factory construction has doubled after both fell under the previous administration, and the trade deficit with China is the lowest in a decade—lower than any year under the last administration. We will continue to work with our partners around the world to strengthen cooperation to address shared concerns about China’s unfair practices—rather than undermining our alliances or applying indiscriminate 10 percent tariffs that raise prices on all imports from all countries, regardless whether they are engaged in unfair trade. The Biden-Harris Administration recognizes the benefits for our workers and businesses from strong alliances and a rules-based international trade system based on fair competition. Following an in-depth review by the United States Trade Representative, President Biden is taking action to protect American workers and American companies from China’s unfair trade practices. To encourage China to eliminate its unfair trade practices regarding technology transfer, intellectual property, and innovation, the President is directing increases in tariffs across strategic sectors such as steel and aluminum, semiconductors, electric vehicles, batteries, critical minerals, solar cells, ship-to-shore cranes, and medical products. Steel and Aluminum The tariff rate on certain steel and aluminum products under Section 301 will increase from 0–7.5% to 25% in 2024. Steel is a vital sector for the American economy, and American companies are leading the future of clean steel. Recently, the Biden-Harris Administration announced $6 billion for 33 clean manufacturing projects including for steel and aluminum, including the first new primary aluminum smelter in four decades, made possible by the Bipartisan Infrastructure Law and the Inflation Reduction Act. These investments will make the United States one of the first nations in the world to convert clean hydrogen into clean steel, bolstering the U.S. steel industry’s competitiveness as the world’s cleanest major steel producer. American workers continue to face unfair competition from China’s non-market overcapacity in steel and aluminum, which are among the world’s most carbon-intensive. China’s policies and subsidies for their domestic steel and aluminum industries mean high-quality, low-emissions U.S. products are undercut by artificially low-priced Chinese alternatives produced with higher emissions. Today’s actions will shield the U.S. steel and aluminum industries from China’s unfair trade practices. Semiconductors The tariff rate on semiconductors will increase from 25% to 50% by 2025. China’s policies in the legacy semiconductor sector have led to growing market share and rapid capacity expansion that risks driving out investment by market-driven firms. Over the next three to five years, China is expected to account for almost half of all new capacity coming online to manufacture certain legacy semiconductor wafers. During the pandemic, disruptions to the supply chain, including legacy chips, led to price spikes in a wide variety of products, including automobiles, consumer appliances, and medical devices, underscoring the risks of overreliance on a few markets. Through the CHIPS and Science Act, President Biden is making a nearly $53 billion investment in American semiconductor manufacturing capacity, research, innovation, and workforce. This will help counteract decades of disinvestment and offshoring that has reduced the United States’ capacity to manufacture semiconductors domestically. The CHIPS and Science Act includes $39 billion in direct incentives to build, modernize, and expand semiconductor manufacturing fabrication facilities as well as a 25% investment tax credit for semiconductor companies. Raising the tariff rate on semiconductors is an important initial step to promote the sustainability of these investments. Electric Vehicles (EVs) The tariff rate on electric vehicles under Section 301 will increase from 25% to 100% in 2024. With extensive subsidies and non-market practices leading to substantial risks of overcapacity, China’s exports of EVs grew by 70% from 2022 to 2023—jeopardizing productive investments elsewhere. A 100% tariff rate on EVs will protect American manufacturers from China’s unfair trade practices. This action advances President Biden’s vision of ensuring the future of the auto industry will be made in America by American workers. As part of the President’s Investing in America agenda, the Administration is incentivizing the development of a robust EV market through business tax credits for manufacturing of batteries and production of critical minerals, consumer tax credits for EV adoption, smart standards, federal investments in EV charging infrastructure, and grants to supply EV and battery manufacturing. The increase in the tariff rate on electric vehicles will protect these investments and jobs from unfairly priced Chinese imports. Batteries, Battery Components and Parts, and Critical Minerals The tariff rate on lithium-ion EV batteries will increase from 7.5%% to 25% in 2024, while the tariff rate on lithium-ion non-EV batteries will increase from 7.5% to 25% in 2026. The tariff rate on battery parts will increase from 7.5% to 25% in 2024. The tariff rate on natural graphite and permanent magnets will increase from zero to 25% in 2026. The tariff rate for certain other critical minerals will increase from zero to 25% in 2024. Despite rapid and recent progress in U.S. onshoring, China currently controls over 80 percent of certain segments of the EV battery supply chain, particularly upstream nodes such as critical minerals mining, processing, and refining. Concentration of critical minerals mining and refining capacity in China leaves our supply chains vulnerable and our national security and clean energy goals at risk. In order to improve U.S. and global resiliency in these supply chains, President Biden has invested across the U.S. battery supply chain to build a sufficient domestic industrial base. Through the Bipartisan Infrastructure Law, the Defense Production Act, and the Inflation Reduction Act, the Biden-Harris Administration has invested nearly $20 billion in grants and loans to expand domestic production capacity of advanced batteries and battery materials. The Inflation Reduction Act also contains manufacturing tax credits to incentivize investment in battery and battery material production in the United States. The President has also established the American Battery Materials Initiative, which will mobilize an all-of-government approach to secure a dependable, robust supply chain for batteries and their inputs. Solar Cells The tariff rate on solar cells (whether or not assembled into modules) will increase from 25% to 50% in 2024. The tariff increase will protect against China’s policy-driven overcapacity that depresses prices and inhibits the development of solar capacity outside of China. China has used unfair practices to dominate upwards of 80 to 90% of certain parts of the global solar supply chain, and is trying to maintain that status quo. Chinese policies and nonmarket practices are flooding global markets with artificially cheap solar modules and panels, undermining investment in solar manufacturing outside of China. The Biden-Harris Administration has made historic investments in the U.S. solar supply chain, building on early U.S. government-enabled research and development that helped create solar cell technologies. The Inflation Reduction Act provides supply-side tax incentives for solar components, including polysilicon, wafers, cells, modules, and backsheet material, as well as tax credits and grant and loan programs supporting deployment of utility-scale and residential solar energy projects. As a result of President Biden’s Investing in America agenda, solar manufacturers have already announced nearly $17 billion in planned investment under his Administration—an 8-fold increase in U.S. manufacturing capacity, enough to supply panels for millions of homes each year by 2030. Ship-to-Shore Cranes The tariff rate on ship-to-shore cranes will increase from 0% to 25% in 2024. The Administration continues to deliver for the American people by rebuilding the United States’ industrial capacity to produce port cranes with trusted partners. A 25% tariff rate on ship-to-shore cranes will help protect U.S. manufacturers from China’s unfair trade practices that have led to excessive concentration in the market. Port cranes are essential pieces of infrastructure that enable the continuous movement and flow of critical goods to, from, and within the United States, and the Administration is taking action to mitigate risks that could disrupt American supply chains. This action also builds off of ongoing work to invest in U.S. port infrastructure through the President’s Investing in America Agenda. This port security initiative includes bringing port crane manufacturing capabilities back to the United States to support U.S. supply chain security and encourages ports across the country and around the world to use trusted vendors when sourcing cranes or other heavy equipment. Medical Products The tariff rates on syringes and needles will increase from 0% to 50% in 2024. For certain personal protective equipment (PPE), including certain respirators and face masks, the tariff rates will increase from 0–7.5% to 25% in 2024. Tariffs on rubber medical and surgical gloves will increase from 7.5% to 25% in 2026. These tariff rate increases will help support and sustain a strong domestic industrial base for medical supplies that were essential to the COVID-19 pandemic response, and continue to be used daily in every hospital across the country to deliver essential care. The federal government and the private sector have made substantial investments to build domestic manufacturing for these and other medical products to ensure American health care workers and patients have access to critical medical products when they need them. American businesses are now struggling to compete with underpriced Chinese-made supplies dumped on the market, sometimes of such poor quality that they may raise safety concerns for health care workers and patients. Today’s announcement reflects President Biden’s commitment to always have the back of American workers. When faced with anticompetitive, unfair practices from abroad, the President will deploy any and all tools necessary to protect American workers and industry.

What fintech can teach us about secure supply chains

In today’s digital world, supply chain security is now a leading priority for businesses within every industry. Yet, a global survey found the average number of supply chain breaches that negatively impacted organizations increased by 26% from 2022 to 2023 1 .

In this article, Matthew West and Bryan Taaffe of DHL’s Global Financial and Professional Services unit unveil the ways fintech security has evolved to act as a blueprint for secure and reliable supply chains, and the specific best practices that can be carried across to other industries.

A new era of fintechs

Any breaches in the supply chain software used for managing logistics can have catastrophic and wide-ranging consequences. Safeguarding the flow of goods and sensitive data, whilst upholding safety and quality standards, relies on a range of processes, from data encryption to track and trace logistics. For businesses with global operations, navigating the intricacies of international trade regulations adds a further layer of complexity. Amidst this, there are many lessons the fintech industry can teach us about secure supply chains.

Research by McKinsey 2 shows that revenues in the fintech industry are expected to grow almost three times faster than those in the traditional banking sector between 2023 and 2028. At DHL Express, we’ve witnessed a new generation of banks and financial services emerge in recent years – many as entirely digital enterprises. These fintechs are typically quick at decision-making and fast to scale as they bring new and innovative services to an audience hungry for elevated online experiences.

Yet with the growth of these “digital disruptors”, new challenges and risks arise. Our role as a secure logistics provider is to guide them through all aspects of fintech security, ensuring the protection of sensitive data and maintaining their trust with customers and partners.

Much of this starts with what we are best known for: speed. The faster a valuable item such as a credit card moves from A to B, the less risk there is that it’ll be intercepted by a fraudulent party. Our express service also benefits the fintech company; after all, the sooner a customer receives their card, the sooner they’ll start spending. This too applies to payment technology such as point-of-sale terminals for retailers, which is why the question for any business deliberating over express shipping should be, “What would we lose in revenue for each additional day our goods are in transit?”

This speed is combined with advanced track and trace logistics. DHL has less of a dependency on third parties than any of our main competitors; everything stays within our network which provides end-to-end visibility along the supply chain. When one of our fintech customers sends, for example, a payment card with DHL Express, they’ll benefit from a system that scans that item on average 28 times on its journey. The customer then receives real-time notifications about their shipment’s progress for reassurance.

We also have a Denied Party screening program in place – a crucial step that we’ve found fintechs sometimes overlook. Our software will scan the contact and address information on a shipment and run it against the applicable Denied Party lists of individuals and entities – i.e. those that applicable law prohibits or restricts the provision of economic resources to, or the engagement in transactions with, due to their involvement in illegal activities. The system’s advanced algorithm determines the risk, and where necessary, the shipment is halted whilst we seek further identification from the receiving entity to ensure they’re a safe party*.

Final-mile security

The last mile of our service is really the point at which secure e-commerce fulfilment is married with delivering our fintech customers’ end users an exceptional experience. This begins with ensuring accurate address data; our extensive database allows us to validate addresses so that sensitive documents and parcels are always delivered to the right address. Then there’s our On Demand Delivery service. This gives customers the flexibility and convenience of choosing exactly when and where their deliveries are made, with full tracking for peace of mind. The sender can also implement a “Direct Signature Required” stipulation for extra security.

The future of supply chain resilience

Whilst the finance sector has embraced digitalization, the fast, secure movement of sensitive documents and items remains essential to its day-to-day operations. In the early days of DHL, the founders delivered important documents for their banking clients personally, accompanying them on flights to ensure their safe delivery, whilst simultaneously launching the international express industry. Now, as the fintech sector has developed to adopt computers, IoT devices and AI software, DHL will continue to invest in cutting-edge security processes to negate supply chain risks.

“The term ‘resilience’ is the business buzzword of this decade, but a key cornerstone of resilience is security. Customers entrust us with high value goods – from technology products to luxury fashion labels, lifesaving medical devices to vaccines – we handle hundreds of thousands of shipments daily. Our relentless focus on security and regular training helps build business resilience for us, and our customers’ supply chains.”

Ken Lee, CEO for Asia Pacific, DHL Express

Building a secure ecosystem: key security practices for your business’s supply chain

Leverage track and trace logistics.

Having full visibility of goods as they move through your supply chain will reduce incidences of loss or theft. Track and trace technology automates this process, scanning the goods at crucial checkpoints right up to the moment they’re delivered to the intended recipient.

Prioritize secure data encryption

For online businesses, data encryption is a necessary step to prevent sensitive financial and customer data from being stolen. In simple terms, the process “scrambles” data into a code that can only be unlocked with a unique digital key. For SMEs, Google Chrome’s encrypting service is a good service to consider. Digital signatures and multi-factor authentication are further ways to protect data.

Create an incident response plan

Preparing for a worst-case scenario is important. Setting out an easy-to-implement response plan for the event of a data breach will help your business minimize reputational damage and revenue losses.

Adhere to global regulations

For businesses involved in cross-border transactions, complying with international trade regulations is crucial. Beyond customs and border rules, this also includes things like environmental initiatives, labor laws, and safety standards. Understanding and complying with these mitigates the risks of legal action and reputational damage, whilst safeguarding against theft, data breaches and unauthorized access.

Choose a trusted logistics partner

DHL Express has received 400 TAPA (Transported Asset Protection Association) certifications worldwide – one of the most rigorous logistics and supply chain security certifications. The independently audited authentication is widely respected as the leading security standard in this sector and focuses on the way in which high-value goods are handled, warehoused and transported. DHL Express is the global industry leader in terms of number of TAPA certified facilities, and our experts are ready to help your business implement the highest standards of supply chain security.

1 – Supply Chain Brain, December 2023

2 – McKinsey, October 2023

* DHL’s Denied Party screening is part of its internal Export Control and Sanctions Compliance Program which ensures DHL fulfils its legal obligations as a logistics service provider. DHL’s screening is not meant to replace the exporter/customer’s due diligence obligations to ensure compliance with the applicable sanctions and export control law.

Lateral Partner Integration Requires Business Development Plan

When a lateral is hired into a new firm, following the tone set during the recruiting process is essential. The firm needs to ensure the lateral is set up for success on day one. Openness, honesty, and transparency are key.

A 12-month marketing and business development plan should be created as a roadmap for integrating new lateral hires and partnering them with a business development liaison. The assigned liaison should host regular check-in calls and serve as the lateral’s initial point of contact for all client development activities.

Setting the Stage

An introductory call between the lateral and their assigned BD liaison should take place prior to their start date or within the first two weeks. This should be the first in a series of integration meetings that take place during the lateral’s first year.

The goal of the meeting is to help the lateral understand the resources of the firm, services the marketing and BD department provides (i.e., requests for proposals, pitches, collateral, conference/speaking engagement prep, awards & rankings, bio updates, etc.) and to answer firm questions that may not have been addressed during the recruiting process.

The lateral and liaison should discuss any immediate client needs/opportunities, expectations, what support the lateral needs, and alert clients about the move.

The lateral should walk away from the meeting feeling confident, comfortable, and with a clear path forward.

Read more: Lateral Partner Recruiting Must Focus on Honesty and Clear Data

Introduction and Implementation

The BD liaison must also obtain a fulsome knowledge of the lateral’s practice, portable book of business, client targets, and preferred marketing styles. They should ascertain the partner’s strengths and weaknesses, as well as business goals and objectives.

The liaison needs to know why the lateral was hired—their niche expertise, specific client needs, and regional presence—to help identify cross-sell opportunities, make appropriate introductions to targeted attorneys within the firm, and plug the lateral into pre-existing client and industry teams. Prioritization should be placed on client-facing activities and the lawyer’s strengths.

The new partner’s BD liaison should have the same information as the legal recruiting team, which includes the lateral’s resume, partner questionnaire, offer letter, and revenue goals. Armed with these resources, the business development liaison is positioned as a part of the firm’s long time revenue strategy for the lateral partner, versus as a document producer.

Positioning the BD liaison as a key to the lateral’s success at the onset will encourage the partner to engage them in a meaningful way with strategy, innovation, and revenue generating activities for a sustaining practice. This allows the partner to focus on delivering quality legal services, while the BD liaison can focus on collaboratively growing their book of business.

Having a thoughtful, written integration plan is imperative. A written process ensures not only accountability, but gives each lateral the same onboarding experience regardless of which practice group or industry team they sit in.

During each meeting, the liaison should probe the lateral on topics such as satisfaction with the firm, sense of being valued, client growth opportunities, bandwidth and utilization, and cross-selling successes or frustrations. Regular status updates should be provided to firm leadership and other stakeholders. If the lateral flags an issue or perceived roadblock, the liaison should dig deeper to understand the root cause, and work with leadership to course correct.

It’s critical that firms not overpromise and underdeliver. For example, a lateral may have been hired to inherit a portfolio that fell through, or perhaps market fluctuations prohibited the opening of a new office that the lateral was intended to join. It’s important to keep the lateral’s business development liaison informed of these developments so they can monitor follow-though, manage expectations, and help pivot if necessary.

The firm should be clear about their commitments. Conversely, expectations for new partners’ client development and relationship building activities, for example, should also be addressed directly.

The most successful laterals are engaged and actively participate in regular integration calls. Holding 90-day reviews that include members of the recruiting team and practice group or department leaders can provide an opportunity for the partner to be heard as well as to receive direct feedback.

Integration Process

Avoid letting new lateral partners fall between the cracks, especially if they’re rainmakers or inexperienced business developers, by having a continuity plan that includes the written integration process. The BD liaisons shouldn’t work in silos.

Find a collaboration tool that works for the team’s communication style and commit to using it. Keep detailed records and have a plan of continued support should the assigned BD liaison leave the firm, or if there is significant recent or impending change happening within the firm, such as a merger or acquisition.

Recruiting and integration don’t cease when a merger is on the horizon, and the potential for new laterals to get lost in transition during a major change increases. Firms must adapt their recruiting and integration strategies not only to speak to the newly merged firm’s emerging cultural differentiators but also to how laterals will be supported in a fluid environment.

This article does not necessarily reflect the opinion of Bloomberg Industry Group, Inc., the publisher of Bloomberg Law and Bloomberg Tax, or its owners.

Author Information

Brian J. Carrozza is director of client development at Goulston & Storrs.

Courtney C. Hudson is business development manager at Baker, Donelson, Bearman, Caldwell & Berkowitz.

Megan K. Senese is co-founder and principal at stage, a women-owned business development and legal marketing firm.

Write for Us: Author Guidelines

To contact the editors responsible for this story: Jada Chin at [email protected] ; Jessie Kokrda Kamens at [email protected]

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