Due to the increased crime rate in India, the demand for security has increased in many areas. Right from schools to MNCs, every place requires a security person. The rapid growth of the security sector has led to an increase in the number of security agencies in India. Moreover, many youngsters and retired defence personnel see this field as lucrative.
If you are planning to start a security agency, this article is for you.
Steps To Start A Security Agency
Plan your business carefully
Like any other business, even a security agency requires planning. You need to understand the type of security services you will provide, the finances included in the business, and the business strategy.
Some of the security services that you can provide are:
- Home Security
- Technical Security
- Aviation Security
- Data Security
- Patrolling Security
- Personal Security
- Video Surveillance operator
- Unarmed Security
- Armed Security
If you are planning to take the business to a large scale, here are some of the following ways you can achieve that:
- Government Tenders and Contracts
- Multinational Companies
- Schools, banks, Hotels, etc.
Register your business
The documents needed to register the business are:
- PAN Card
- Aadhar Card or Driving License
- Electricity Bill or Phone Bill for Address Proof
- A Passport Size Photo
You can submit scanned copies of these documents for business registration. However, the following documents need to be accurate and correct as per the knowledge:
- Company’s Name: You should choose a unique name for your company, and it should not be too similar to the existing company names. It should not contain any names of celebrities.
- Capital Invested: Once you prepare all the documents and file the name, the next step is to decide on the capital investment. Though there is no minimum capital requirement, there should be enough capital to pay the salaries of the staff.
- Registered Office: You can either take a head office for your company or choose your home address for company registration. You will get all the legal documents for your company registration over there.
Select the office location of the company
It is essential to have an office in the city’s prime area. It will increase the visibility of your business. In case you plan to open offices in multiple cities, make sure to check the easy access areas to the staff as well as the public. Also, the size of the office depends on the scale at which you are doing the business.
Get the required licenses and certificates.
Getting the necessary licenses and certificates for your security agency is essential to avoid any legal issues. Here are some of the standard licenses and certifications you need to obtain before you set up a business:
- GST Certificate
- PSARA License
- Establishment and Shop Act License
- ISO License
- ESI Registration
- PF Registration
If you want to operate only in one district, the cost of the PSARA License is Rs.5000, whereas, for operating in the whole state, the cost of the PSARA License is Rs.25000.
Arrange necessary equipment
To start a security agency, you need to have some essential equipment like:
- CCTV Cameras
- Digital Cameras
- ID Cards
As discussed earlier, you can provide many types of security services to clients. So, the equipment might change based on the kind of services you provide.
Start hiring workforce
Hiring a workforce is one of the most crucial steps in starting a security agency. Make sure to employ fit people in your agency. The salary range of the employees varies based on their positions. For example, a security guard earns about Rs.12,000 to Rs.25000 per month, while a security specialist earns between Rs.20,000 to Rs.50,000 per month.
Launch your business
Once you have everything set up, you can launch your security agency. You can create awareness about your agency through various mediums of advertisements like pamphlets, newspaper advertisements, etc.
Investment required to start a security agency
The initial investment required to start a security agency varies based on multiple factors. For example, the investment varies depending on the area where you are setting up your office. If the site is in the city’s prime location, the rent cost is very high.
The cost of utilities, arms and ammunition, salaries, and other investments also vary.
Essential tips to start a security agency
- It is always essential to ensure the new hires sign the contract. It helps you to avoid rehiring and also saves the cost of the training involved.
- It is optional to have a massive investment in the infrastructure for the security agency business.
- Make sure to keep track of the training period for the employees.
- Keeping track of the employee’s daily tasks and discussing their pain points is essential.
- Work with honesty and integrity, as the security profession requires a lot of trust.
- It would help if you were strict and, at the same time, empathetic with your employees.
Security services have become essential services for all sectors. It is no more an optional service. If you want to set up a security agency, go through the above requirements and know which specific domain you would like to be specialized in providing the services, etc.