Thinking about starting a security business? Security is a ever growing business. Capital Group Enterprises breaks down the steps to starting a home security business.
1. Obtaining Sales Experience
Starting out it is almost mandatory to know your systems, how to price equipment or learn how to answer questions that people have about it, but most importantly learning how to sell it. Learning how to repeat that duplicatable experience of getting that customer to purchase and what works for you. Sometimes onboarding as a sub-dealer under a another alarms dealer program is absolutely necessary for this step.
2. Being A Alarms Sales Pro
In order for anyone to be taken seriously someone needs to have sales experience. In order to get sales experience there really is no other option than starting at the bottom and genuinely working hard to get higher. When being considered for higher positions or even better contracts the question always gets asked, how many deals in security have you gotten or are you currently getting? It is important to not lie because it actually can be easy for people in this industry to tell if someone has genuine experience or not. If you got a ton in the past and are not currently getting deals why are you not currently getting deals? People want to see individuals who get sales very easy and are easy going and eager to get everyone sales! When deals are flowing and easy for a person to attain everyone can get a little bit of the action! No toxic or negative attitudes. A person who makes it in the sales industry pushing 1-2 deals every day catches people’s attention. You want to be that positive motivated sales person everyone wants to do business with. Averaging 20 alarms deals a month and having a reserve a money is what partners will look at when onboarding businesses for the next steps.
3. Obtaining A Business License
It depends on what your goals are, since this article is based on how to start a home security business, we will go into that. File for a business license with the state you want to be associated in. You file your individual license say a LLC, with the state. Putting a physical address is important for this sometimes people put an P.O. Box for this.
4. Applying For A Fein Federal Tax I.D.
After you set up a business in a state with a physical address you can apply for a Federal Tax Identification number or a EIN or a FEIN. All are the same term to relate to your federal tax i.d. number for federal taxes. You can apply for a FEIN by going to the government website after you file for your business license in the state.
5. Getting Business Insurance
Sometimes holding off on insurance is what people tend to do. In some states certain insurances are illegal to not pick up under certain circumstances. If you want to go to the next level in your home security game and go direct to a alarm company they are going to require you take out insurance in case you get sued, it protects them to some extent.
An insurance policy is surprisingly sometimes what sets apart true businesses who want to make millions from other people. Sometimes a quick question in a conversation is all it takes to decide if someone is going to do business with you and can say a lot. Is your business insured? When people answer this question a lot of times they are honest but it can be easy to tell if you do not know what you are talking about. If a business doesn’t have insurance does a business even make enough money to get sued? Most people want businesses that do things by the book and that do a lot of business.
6. Getting a State Security License
Mostly every state has a license that you need to get if you want to start a company in the alarms home security industry. If you do not have to take this test consider yourself very lucky because there is only a very small chance you will be in a state that doesn’t require you to take a test for it.
7. Establishing Contract With Alarm Company
Sometimes the steps in sales industries such as home security starts out as learning sales under a person or another company. Sometimes people stay in that position for life and earn promotions and raises. This is absolutely great and is encouraged and if someone is with a good company will make more and more money with that company together. Sometimes people want to branch off. There can be a lot of businesses going through other businesses in a almost pyramid like structure. Sometimes people are working their way to the top in these structures. If someone is receiving a upfront commission for a sales then they are not the company. You become a company when you take on residual income responsibility. Now this role pivots from just sales to customer service, tech installations, issues and customer service. Sometimes people can consider this end goal because essentially you are your own alarms company and sometimes you can work with brands that have a name that is over 150 years old. Win win situation!
8. Starting Your Own Alarm Company
This next step includes knowing about the certain types of security software’s available. Ordering your own technology such as cameras, lights and sensors and white labeling it. Making that sale, installing your own equipment and billing the customer monthly. Having your own protocol of handling responses when the alarms go off and much more. Most will not be capable of doing all of this.
If you are considering starting your own alarms company, it is hard to skip steps. We encourage you to develop a good relationship with the organization that you get in with. Someone will think they know when they are ready for the next steps because they will be very comfortable with their knowledge, expertise, money and highly confident in their ability to take the risk of going to the next step. It is important to know what that actually looks like and to not be over confident. Time it takes to switch companies, onboard and things that happen to commissions during these times can be devastating.
Conclusion. Start an alarm company with Capital Group Enterprises. With no non-competes and no bullshit see why many chose to do business with CGE. Receive high commissions and the support that you need. Let’s partner together to see how we can drive revenue to your business.