Security Business - Start up/Requirements

[Gamble2013]

Hello All

I currently work as a courier, and deliver around north London, quite wealthy areas, such as bishops avenue, hampstead, golders green, st.Johns wood etc. I always see one firm of security guards round there, who offer mobile patrols, home checks, etc. And it just got me thinking about setting up a security business, as there does not seem to be much competition. I just wondered exactly how complicated the process is, and is it worth even looking into, or should i just not even begin to look into it. I understand the risk involved of wasting money etc but im not worried about that i just want to know how complicated it is to register a business, and does it have to be LTD, or sole trader? What insurance would i need? What is the best way to secure new contracts? I know i may sound stupid and this may sound like a ridiculous idea, but it pops up in my head everytime i see these private secuirty firms. Any answers, no matter how rude lol would help. Many Thanks

 

[vvaannmmaann]

Have a look at this.It starts in 2006,but gets up to date!
IIRC it is not an easy business to get into,licences and regulations to deal with,not to mention finding anf keeping good staff who will work the hours for min wage.
The SIA regulate the private security business in the UK.http://www.sia.homeoffice.gov.uk/Pages/home.aspx
Good luck.

 

[vvaannmmaann]

Sorry I forgot this bit!
http://www.ukbusinessforums.co.uk/forums/showthread.php?t=16438&highlight=start+security+business

 

[Gamble2013]

Thanks for the reply - i understand where you are coming from. But do you think if you target one specific area (No more than a 5mile radius) and start off with one patrol car doing patrols/house checks, acting as a visual deterrent etc. (That is if you can get the clients), that it would be viable, eg. Start off with no staff, apart from yourself, and then gradually expand. I have read a few articles online where a guy in southampton set up his business and was charging residents on a council estate £3.50 per week! and he had 100's sign up, and that was not for a tailored service , i.e, check each home hourly, or bi-hourly, etc. Am i being Naive here?

Just pretend that you have the opportunity to have a small client base that you could cope with yourself, is that the best way to start?

Many Thanks

 

[Gamble2013]

Also, just to add, i am not interested in retail security/door supervision etc. I would like to aim purely for private and residential contracts. Is this foolish? I don't expect to make millions, just a living.

One thing i am also unsure of is what insurance do i need, is it just liability insurance, or do i need some industry specific insurance?

And is it as simple as registering my company with company house, getting an accountant, getting SIA badge and then looking for business?

Bearing in mind this is all hypothetical, please no not scorn me for sounding ignorant lol. I just want to get my head around what is initially needed for the start up. Thanks again