Starting a security firm involves parting with a good sum of money. How much you will need to part with will usually depend on how big you want the firm to be when you are opening it. There are several different types of expenses which include the cost of buying equipment such as security systems. In this article, I will be discussing the various expenses that are involved in starting a security firm.
The cost of insurance
Insurance is by far the biggest cost that one will encounter when they are starting a security firm. Providing security services can be a very dangerous job where security personnel get injured or even killed on the job. When this happens, you will need to have adequate insurance cover to pay for medical costs and even the burial service. Each and every staff member you have on your payroll will need to be insured and that can’t be cheap. Some security firms provide medical insurance to their staff as well so you might want to consider offering the similar services to your staff if you want them to stay by you.
Legal and regulatory costs
Starting a firm usually involves legal and regulatory costs. You will need to get yourself a lawyer to help you with all legal issues that startups face. For instance, you will need a lawyer to help you prepare contracts that you will be serving your new employees when they come onboard. You will also need a lawyer to help with filing important government documents regarding establishing a legal entity.
Cost of uniforms
When you hire guards, you will need to dress them up in company uniforms. That means that you will need a designer to design and make the uniforms, which will include pants, shirts, jackets, and even a hat. You will also need to provide appropriate footwear to your guards for them to look presentable and professional.