Starting a Security Company
With concerns about crime and terrorism on the rise, the demand for private security services is rising steadily to protect against robberies, violence and other forms of crime. As both businesses and consumers are increasingly more aware of their need for security, knowing how to start a security company can be a viable business opportunity for entrepreneurs. However, starting a security company requires the correct training and licensing, as well as a sound understanding of business management and networking. The following steps will teach you how to start your own security company.
Learn & Get Experience
Check with your city or province to find out what certifications and licenses you will need to start a security company. Unless you’ve worked in law enforcement, you will need to gain work experience in the security field before you can start a security company.
Most jurisdictions require you to have both a security guard’s certification and license as well as an insurance policy if you’re starting a security company.
Find out which training courses are accepted by your province. Security guard training can be offered by provincial programs and private trade schools. Usually, you’ll need to have a clean record and demonstrate adequate experience to qualify for a security business license. In order to run a successful security business, you need to have experience as a security guard. With out experience, you will fail.
Create a Business Plan
Creating a business plan is crucial. You need to decide how you are going to run your business. Below are some questions you should ask yourself.
-What is my budget for this business?
-How will I market my company?
-What services will I offer?
-What will make me stick our from my competitors?
-Am I ready to open a company?
Licensing & Registration
Register a Company
Choose a name for your security company and check if it is available and if it violates any registered trademarks. Register your company with the province you intend to do business with. There are several options, such as a sole proprietor, partnership or a corporation. Ask a lawyer to gain more knowledge on how business structures work.
Register with the Federal Government
You may need to register with Canada Revenue Agency to get a Business Number. Registration is mandatory if your business requires a GST/HST (depending on your total revenue), Payroll, Corporate income tax or Import/Export account. Businesses are able to register online using business registration online, over the phone or by mail.
An online form can be downloaded from the CRA website. We have provided the link below for your convenience. the Canada Revenue Agency can also be contact by telephone toll Free at 1-800-959-5525.
Obtain a City License/Permit
You must obtain a city license or permit for every city or town that you intend to do business in. Costs for this range from city to city. Contact City Hall for more information on obtaining a city license or permit.
Get your Company Insured
A business must have General Liability Insurance. A copy of documentation proving the business has current insurance in the required amount must be sent in with the application for a security business licence and when the business is renewing the security business licence.
If the security business has branch office locations, it is necessary that the security business’s insurance covers each office. Speak with the business’s insurance agent for more information.
Apply for a Security Business License
After jumping through all the hoops, you can finally apply for a security business license with the province. This can take anywhere from 2 weeks to 6 months for your business license. You should check with your provincial government or solicitor general’s office to obtain more information and what you exactly need to apply. Fees and costs for a business security license can range from $250 per year to $1500 per year.
You may be asked to submit legal documents, personal information, a CPIC nation wide criminal background check, pictures of your uniforms and vehicles, and cover letters outlining your business. You may also be called in for a face to face interview with the solicitor general’s office before approving your license. Some provinces ask for a psychiatric evaluation conducted by a certified and approved doctor.
For more information, contact the solicitor general’s office.
Advertise and Market
Everyone has their own way of advertising and marketing their business. Be creative. You should start by adding your new company to our database!
Good Luck with your new business