The security services business is a very tough and difficult business especially for countries like underdeveloped, or developing countries. There are no government subsidiaries, incentives and backup to help you to stand in the business. You would be helpless if customers do not provide you bills in time or cheat you because rules of law are not inspiring against such situations in such countries. How many times you would fight to get your bill payment after your whole long month of hard works on services. Moreover, there are so many competitions that customers do have a lot of options. They tend to give less payment against a higher standard of services they would forcefully take from you. You need to think 10 times before starting this business. Do not jump before surveying the market (your strength, weakness VS market share or occupation by the competitors and the strength of competitors. Choose an alternative business if you do not have skills, experience in security and manpower / human resource business and management. There are so many easy businesses whereby less effort and much less investment, your return will be higher.
Attribution: Hanuma Bhakta, CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0, via Wikimedia Commons
If you have skills and a huge budget, you may start the business with a lot of experienced workforces (managers). Otherwise, you will fail to control the guards. Ultimately, you would lose customers and guards will impose more salary than they deserve. You would also need to act seldom like a muscleman to get your bills’ payment. After all, you would need to fight all over the month on so many issues. This business is like an old motorcycle which gets so many problems frequently.
Regarding, getting new and more customers, it is again difficult. At the same time, you need to continuously advertise online and also in the physical field by your marketers. Again, you need to put a lot of attention on the marketers that whether they are really marketing or doing personal works (in case you employ lowly paid marketers)! If you keep highly paid marketers, they would be able to bring new customers. Of course, you must know and interview the marketers before employing them. You need to be certain that those highly paid guys have real success stories to bring customers. Cross-check. Again, here, you need to have a large amount of investment after the marketers. Now, tell you what the already established security companies did in some developing countries. Their management (owners body) had a lot of ex-military officers who had a lot of connections with corporates and businesses. They influenced or used their connections and got those companies security posts/sites.
Attribution shouted to Daniel Lloyd Blunk Fernandez
After your survey, if you find that there is still a big space to occupy the market by yourself then you may come to decide to run the business. But, do not forget the other major points :
1- You must possess a huge capital to invest.
2- You must have experienced workforce (managers).
After meeting the above challenges, then, as usual, you may put attention on training up your guards and making their salary structures etc.
- In your survey, do your search on finding space in established / conventional markets. Please keep no hope to have big space in a new market. Because of following reasons:-
- Established companies know how to get the conventional market more than you and they are more efficient in it.
- Due to Covid 19, the scope and opportunity of a new market are far fetched.
Finally, remember, once customer/s agree to get your service, do a lot of study on the customer before your sign the contract:-
* Study on their behaviour toward their own workers (if bad, it is obvious they would misbehave with your guards and continuous leaving of you expensive trained up guards and recruitment costs will cause your immense financial setback,).
* History of their providing bills to suppliers and contractors.
If you are so passionate about this business and if you find yourself “a born fighter”, you may become able to run the business.
