2017-03-29 00:00:00 Business Planning English Discover the common challenges that face security businesses in Canada, and learn about ways to overcome them. https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/06/security-guard-patrols-property.jpg https://quickbooks.intuit.com/ca/resources/business-planning/biggest-challenges-owning-security-business/ The Biggest Challenges of Owning a Security Business

The Biggest Challenges of Owning a Security Business

3 min read

A security business can provide a constant stream of exciting, dynamic daily tasks. As a security professional, you are responsible for protection services that range from personal protection to crowd control and cash transportation. Before you invest the time and money in a security startup, it’s important to understand the challenges that face businesses in the field. With the right knowledge, you can set up systems to help you overcome roadblocks and provide top-notch protection.

Finding Trained Staff

As a security business owner, your success depends on your employees. Many companies opt for former police or military personnel who have pre-existing defence training. Depending on where you live in Canada, finding well-trained employees can be a challenge. Your employees must have a security guard licence that’s valid in your province. If you’re providing demanding services such as body guarding, it’s helpful to find workers with experience in close protection, combat, safe driving, kidnapping, first aid, and more. Keep in mind that a lack of experienced staff isn’t a deal-breaker. You could pay for personnel to take specialized security training courses to help build your staff’s experience.

Maintaining Physical Fitness

Some security disciplines, including executive protection, require intense bursts of physical activity. You might need to restrain an attacker or run after a thief. To stay safe and serve your clients effectively, you must be in healthy shape. At a minimum, this usually requires regular cardio and strength-training workouts. As an owner, it can be challenging to monitor and regulate staff fitness levels, but you can make it easier for everyone to stay active by offering onsite exercise facilities or discounted gym memberships.

Personal Danger

As a security professional, your job is to stand between your clients and any threats that come their way. The nature of the work automatically increases the possibility of personal danger. To mitigate the risk to yourself and your employees, it’s important to invest in quality training and period refresher courses. You should also provide personal protective equipment, such as bullet-proof vests, to any employees working in situations with higher levels of risk.

Reputation Management

A great reputation is necessary for a security company, since clients depend on you to protect them and their assets. When you’re just starting out, this means you might have to work harder at marketing. If you’re already established, a single incident or bad review can hurt your business. To ensure consistent high-quality service, consider using strict protocols and a defined code of conduct. When employees know how to act and how to respond, it’s easier for your business to maintain a positive reputation.

Regulatory Compliance

As a business owner, you’re responsible for following all your province’s rules for private security and investigative services. In Ontario, for example, you must register with the Ministry of Community Safety and Correctional Services as an agency and comply with specific uniform requirements. In Quebec, the Bureau de la Sécurité Privée requires you to attend training courses and apply for a licence for each of the following activities:

  • Guarding
  • Investigation
  • Locksmith work
  • Transport of valuables
  • Electronic security systems
  • Security consulting services

Most of the time, it’s relatively easy to comply with security company laws. With regular assessments and a careful reading of each requirement, you can keep your agency and employees on track. Starting a security business has its challenges, but the work is rewarding and exciting. With the right preparation and training, you can ensure safe, high-quality protection services.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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