According to ASIS International, security is a $350 billion industry. It’s also recession-resistant. As Brett McMenimon, the director of sales for The Flying Locksmiths told us, “This is a non-discretionary spend. [For example], if you are a business owner and have broken locks, an employee that quits that had access to your security, or an employee that is terminated that had access, you don’t wait for a better economy, you are calling a locksmith immediately.”
Security franchises handle a multitude of jobs for clients. The breadth of options provides for multiple revenue opportunities within a single franchise opportunity. Security franchise services include, but are not limited to:
- Risk management consulting
- Risk analysis
- Threat and vulnerability assessments
- Computer and network security consulting
- Security guard and patrol services
- Investigation and surveillance services
- Locking mechanism repair and replacement
- Alarm/intercom system installation and maintenance
- Safe installation
In addition to the number of revenue streams available to franchisees, another one of the more attractive parts of the industry is that services provided can’t be off-shored. While technology is becoming more prevalent within the services provided, the service providers themselves can’t be replaced with by technology.
Technology also helps security franchisees be more efficient. “We are able to assist franchisees with the use of technology to improve efficiency by reducing the amount of employees and managers needed to run a business,” says Reed Nyffeler, CEO and co-founder of Signal 88 Security. “This provides the franchisees with real time visibility on their businesses, and has dramatically improved their profitability well above the industry averages.”
Anyone with the desire could be a good fit for the industry. According to Reed, the most important attributes of a potential security franchisee are “a willingness to serve customers and [the ability to] communicate well. The rest can be learned.”
However, one demographic stands out: military veterans. Vets typically have a proclivity for helping others and a desire to make a difference. To this end, a number of franchises offer incentives to qualified veterans such as a discount on the initial franchise fee.
But to be clear, a wide range of people enter the security franchise industry every day. It’s not a necessity for incoming franchisees to have any special law enforcement, military, or security background. The training provided by the franchise chosen in combination with a strong work ethic from the franchisee is often all that is needed to operate a security franchise.
“Our owners come from a wide variety of business backgrounds,” Brett says. “The common thread is that they have business management experience, either through owning a business or managing groups within a corporation. We teach and support them on anything they need to know.”
Check out our listing of security franchises on our security franchise opportunity page.