Business Ideas | Small Business Ideas: Starting a Bodyguard Business | How to Start a Security Bodyguard Business

Wednesday, February 5, 2014

Starting a Bodyguard Business | How to Start a Security Bodyguard Business

The threat of global terrorism and kidnappings has caused an increase in the demand of bodyguards. Just in 2009, there were 70,951 global incidents of terrorism. According to the Federal Bureau of Investigation, of those incidents, 7,604 were kidnappings. The opportunities to start a security Bodyguard Business have never been greater as demand grows for business leaders and other high profile individuals such as journalists, activists and others seek protection.

Thinking of starting your own business? Don’t know if the bodyguard business is really for you? Interested in breaking the bodyguard business industry? Want to open that Bodyguard Business but don’t know where to start? I give you some basic steps that might pave your way in opening that Bodyguard Business.

According to the American Society of Industrial Security, studies have shown that there is an increasing demand for security services during the past years especially after the tragic day of 9/11. With this increasing demand for security services, starting your own security service business has become a pretty good idea. If you’re interested in the bodyguard business, then where do you start?

Bodyguard Business: Where do you start?

First, determine what kind of security service you want to provide. Is it only the executive protection or bodyguard services? Or also other security services such as patrolling and security staff?

Second, determine the license and permit requirements in your state. Some states, like in California, require that the manager of a security service undergo an oral and written test is required together with a criminal background check. Also, research if your employees themselves need a specific permit or license to work in a bodyguard business. Some states require that bodyguards receive at least 40 hours of training, with 8 hours of continuing security education yearly, with complete background check and license fee. Carrying firearms also require a special permit.

Third, determine your bodyguard business start up cost. Reports have shown that depending on the equipment, costs of training, permits and licenses location and advertisements, starting a bodyguard business require around $10,000 to $50,000. Fourth, once you have secured your capital and staked out the needed licenses, you are ready to hire. It is a good idea to advertise in different police departments. Make sure that the people you hire possess the necessary training in giving executive protection. Try to hire people that would match up to the needed requirements for your permits. Background government service training, either in military, or law-enforcement is definitely a plus. At the outset, outline what your employees are required to do. Create a company policy. Also consider getting insurance coverage. This may cost a little but considering you’re entering into a high risk business, insurance is not such a bad idea. Besides, some states actually require that you have insurance before you can operate a bodyguard business.

Training: It’s a Must in the Bodyguard Business

Even if you manage to land the top police officers or military-trained people, training is still the most important thing that you should focus upon. Skills taught by the police and the military, though helpful, are not enough to provide quality security services. Bodyguards must acquaint themselves with martial arts, skills in surveillance, risk examination and advance work on the locations your client are going into. Since the bodyguard business is a services business, you’ve got no business if there are no quality services to provide.

Step 1

Do an inventory of personal skills. Individuals seeking to start a bodyguard business without prior security experience will find it extremely difficult to find clients. Few clients are willing to trust their security to an inexperienced business owner. Most states required bodyguards and security personnel to be older than the age of 18. Individuals with criminal backgrounds will find it nearly impossible to obtain licensing and approval to carry firearms. Military, military police, bodyguard, detective or police enforcement experience is essential to start this business.

Step 2

Choose which security services to offer based upon the business’s customer demographic. Security bodyguard businesses offer a number of services to their clients including firearm training, alarm services and installation, special event security and guard dog training. Base services on the business customer’s demographic, for example business travel security may dovetail nicely with foreign speaking bodyguards who can also act as interpreters.

Step 3

Contact the state licensing board to confirm state requirements for private detectives and security licensure. Some states, such as California and Georgia, require security business owners to undergo a criminal history background checks.

All security bodyguard employees who carry a firearm must conform to state gun laws and obtain proper licensing to carry a gun. Minnesota requires extensive gun training or police experience prior to issuing a gun carry permit.

Step 4

Write a business plan for the security bodyguard business and apply for loan Startup costs for a security business are high because of additional expenses such as the required licensing to carry firearms, the cost of criminal background checks on employees and regular security training to update skills. Security bodyguard business owners will have to pay for office space, advertising, salaries, insurance and other general business costs. A business plan will help outline expenditures and help educate lenders on the security bodyguards business during the lending process. Free assistance on starting a business is available by contacting the U.S. Small Business Administration at 800-827-5722.

Step 5

Look for office space in professional business buildings. First impressions are vital for security bodyguard businesses since a key to being hired is the level of trust the customer has in the business keeping them secure and safe. Look for locations in professional areas near the customer demographic. Security bodyguard business dealing with residential security may wish to locate close to areas where their clientele live while corporate security business will want a presence near corporate business campuses or areas.

Step 6

Hire staff and bodyguards. Recruit and hire staff away from successful security bodyguard competitors in your area. These employees will have the successful security and bodyguard experience. Experienced bodyguards already have relationships with clients while experienced security support staff already has experience in building a security business. Contact a hiring recruiter with security recruiting experience to help develop a hiring plan. Organizations, such as the National Law Enforcement Recruiters’ Association, are excellent places to find recruiters experienced in this field.

Step 7

Purchase business and liability insurance. This is vital for any security bodyguard business. Many states, such as California, will not issue a license without proof of insurance. In California, private patrol operators who employ armed security guards must have a million dollar policy in case of injury or death.

Step 8

Prepare office and find clients. When decorating the office space keep in mind clients must trust you to keep them safe before they will hire your company. Hire an interior decorator to design a reception area and meeting room that elicits a feeling of security and trust. This helps in creating a good first impression with clients.

References (8)

Resources (1)

Crimetime.com: State by state private investigator and detective licensing

About the Author

Anastasia Zoldak is an experienced freelance writer and researcher based in Chicago. She has been a professional writer since 2007. Zoldak has an undergraduate degree in business, which she has used in a variety of industries, including retail, sales and recruiting. Prior to becoming a writer, she ran a successful business.

Photo Credits (2)

1 comment:

Bodyguard BusinessFebruary 5, 2014 at 6:24 PM
Bodyguard Business, How to Start a Security Bodyguard Business, Security Bodyguard Business, Silent Bodyguard, Starting a Bodyguard Business
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Easy Tips and Ideas to Start Business

Although anyone can start a business, many people fail because of a bad product or improper research. If you want to start your own business, you can improve your chances for success before you even begin. In order to make your business successful, start strong and make sure that your idea will hold out for the long haul.

Have a Good Product

Ensure that you plan to sell something useful. Although you may think that your product is important or special, that doesn't mean the general public will agree. Ask friends, family and strangers what they think of your product. If they don't seem that interested, ask them why. With their suggestions, you can either improve the product or scrap the idea completely. According to Brad Sugars of Entrepreneur magazine, most small businesses fail because they sold a product that didn't have an adequate market. This also applies to small businesses that provide a service. A lawn-care business might be useful for part of the year in a northern state, but it is in-demand year-round in the south. Consider whether people will actually want to use your service and get constructive advice from those not afraid to give their opinion.

Research Local Businesses

Research local companies before starting up your own business. This will not only give you an idea of the amount of competition you will have, but it will also help you price your product or service. If you're looking to start a wedding photography business, you may find during your research that the market is over-saturated in your area. If not over-saturated, you should contact each business and ask them for a price list. Alter your prices so you can stay competitive with the competition in town. Researching similar local businesses will also help you decide where to locate your business location. Try not to start up a store or office close to another business of your type. If your small business is located away from similar business types, this will cause locals to choose you over businesses that are farther away from where they live.

Get Professional Advice

You may know someone who has started their own successful business. Ask him for advice and listen to his stories of how he started his company. You may gain useful advice on the good and bad ways to start a business. Local entrepreneurs can also introduce you to local product providers or advertisers that you may not have met without their help. Accept any advice with open arms, especially if the advice is coming from someone successful in the area.

How to Calculate Business Start Up Costs

Starting a business in no easy endeavor. It takes a great deal of research, perseverance and hard work. While sweat equity will make your small business more successful, you will most likely need real capital to get the business started. Before you start raising capital and/or investing your own funds, the first thing you need to do is determine the total start-up costs.

Step 1

Determine your costs of sales. For most small businesses this means inventory, the cost of raw materials, manufacturing equipment, shipping, packaging, and warehousing. However, not all businesses sell products. In this case, the cost of sales is primarily the direct labor involved in making the sale. For example, to open a small shoe business entails purchasing enough inventory ($10,000) to stock the store.

Step 2

Determine professional fees. Planning your business structure, i.e., limited liability corporation or general partnership, means hiring an attorney. There may also be the need to pay an attorney for help with establishing trademarks, copyrights, and patents. In this scenario, that puts total professional fees at an estimated $20,000.

Step 3

Determine technology costs. Technology can greatly reduce the cost of labor for small business if used effectively. Most small businesses require computers, printers, cell phones, website development, Internet access, software applications, information security, data storage, and outsourced information technology (IT) consulting. If the cost of technology is $10,000 to start, add an additional $5,000 a year for maintenance (hint: maintenance is not included in start-up costs).

Step 4

Determine administrative costs. This varies with business types and may include items such as business insurance, office supplies, product packaging, parking, rent, express shipping, desks, chairs, fax machines, phones, or anything else necessary to operate the business daily. A good estimate for start-up administrative costs would be $5,000 for the first six months.

Step 5

Determine initial sales and marketing costs. Now that you have your product, you need to let folks know about it. Sales and marketing costs generally include marketing materials for presentations, printing stationery, business cards, advertising, trade show events, and public relations. These initial sales and marketing costs can add up to $3,000.

Step 6

Determine the wages and benefits needed to secure a staff. This includes employee salaries, benefits, workers compensation, and payroll taxes. Let's put the cost of wages and benefits estimated at $20,000 for the first three months of business.

Step 7

Add all costs associated with starting the business for a total. Be sure to only include business start-up costs that will be incurred in the first three to six months of operations. For this example, the calculation is: $10,000 + $20,000 + $10,000 + $5,000 + $3,000 + $20,000 = $68,000.

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