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.
Table of Content
- Why Start a Private Security Company?
- 1. Industry Overview
- 2. Executive Summary
- 3. Our Products and Services
- 4. Our Mission and Vision Statement
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 8. Our Target Market
- Our Competitive Advantage
- 9. SALES AND MARKETING STRATEGY
- 10. Sales Forecast
- 11. Publicity and Advertising Strategy
- 12. Our Pricing Strategy
- 13. Startup Expenditure (Budget)
- 14. Sustainability and Expansion Strategy
Why Start a Private Security Company?
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, body guards 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
Chief Security Officer / Manager
- 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
Admin and HR Manager
- 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.
Marketing and Sales Executive
- 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
- 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
- Security advisory and consultancy 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 21st 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.
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
- 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 21st 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;
- 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
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 21st 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