How Much Do Security Companies Charge Per Hour?

How Much Do Security Companies Charge Per Hour?

Written by Deepak Bhagat, In Business, Published On
March 11, 2023
, 656 Views

The cost of hiring a security company can vary greatly depending on the location, time of day, experience, and other factors. You should also consider whether the guard is armed or unarmed and what the risk level is.

Typically, armed guards incur higher hourly rates than unarmed security guards. This is due to the increased insurance costs and specialized training required for armed officers.

How Much Do Security Companies Charge Per Hour?

Security Companies Charge Per Hour

Location

When a security company first starts out, they often face the question of how much to charge per hour. The answer depends on a variety of factors, including location, time of day, and experience level.

For example, an urban area with high crime rates will likely cost more to secure than a rural one. After-hours security will also be more expensive than a daytime post, as most break-ins and thefts occur at night.

The hourly rate for security guards can range from $10 to $25 per hour, depending on experience, location, and the type of service offered. Companies that specialize in armed security tend to charge higher rates than those that provide unarmed services.

Another factor to consider when setting prices is the length of a client’s contract. Ideally, long-term contracts will result in low hourly rates and stable income for the security company.

To attract a wide variety of clients, many security companies offer various types of services. For instance, Corps Security, formerly known as the Commissionaires, offers event protection, security for events in high-risk zones, and asset security. The company has offices across the world and employs more than 3,000 people.

For a new security agency, it is important to find ways to distinguish yourself from the competition. The most effective way is to provide a distinct characteristic, such as specialization in a particular field or location. This can help to secure a client base and develop relationships with other local businesses that will need the services of your company in the future. In addition, a strong website can help to increase your online presence and generate more business. Finally, the right marketing strategy can help to grow your security company.

Time of Day

The time of day is a big factor in security costs. A guard stationed at night will likely cost two to three times as much per hour as a guard on the same property during the day. However, a security company that offers 24/7 coverage may be worth the extra cost. This can be achieved with the help of a remote surveillance system and a few well-placed cameras.

The most expensive item on your bill is probably the security guard or team, but it will be worth the investment if you are a victim of crime in your neighborhood or own a business with a high risk of theft. Other factors to consider are your area’s crime rate and the time of day that you need a guard to be there. The top-rated firms will make it easy for you to select the best fit for your needs by providing options such as onsite, remote, and even mobile options.

Experience

The experience of a security company can make a big difference in how much they charge per hour. For example, if you live in an area that has a high crime rate, it’s likely that a security company will be more expensive than one in a less violent part of town.

Similarly, you can pay more for a security guard who’s working after hours than one who is on patrol during the day. Also, it’s important to ask how many staff they have. This can help you determine how much you will be able to afford to pay them.

A good business plan can help you get the financial support you need to start and run a successful security company. It should include details about your mission statement, how much startup costs you expect to incur, and any companies that you’d like to work with.

Your credit score will be your best friend if you want to secure the financing necessary to get your security company off the ground. In addition, having a law enforcement background will go a long way toward getting you the loan you need.

Finally, the ability to monitor multiple cameras is a big plus. This type of technology is becoming increasingly popular, as it provides a higher degree of security than single-point cameras.

Another savvy security company strategy is to use mobile security vehicles to protect their clients’ properties. These vehicles can range from a Segway to a golf cart or truck, depending on the size and scope of the assignment. A well-designed mobile system can protect a large amount of property for a fraction of the price of a full-time security officer.

Licensing

As a security company owner, you need to be aware of the state and local laws and regulations regarding your business. In many cases, you may also need to obtain a license from your state or municipality in order to operate legally. This will depend on the type of services you offer, such as armored car services or armed guards.

The licensing process for a private security company can be complex and require an array of documents. These include an application fee, training certification, fingerprints, proof of experience, a credit report, a surety bond, and/or insurance.

You may also be required to pay for a criminal background check. These can cost anywhere from $100 to $500 depending on the state. You should make sure you have the money to pay for these background checks before you start your business.

In some states, security companies must provide on-the-job training to new employees. This can be done through a trade school or community college. It is important to note that a security company’s license will only cover its own employees, so you need to ensure all of your employees are properly trained before they can work for your business.

Although not required by every state, obtaining a security company license can be a helpful tool to help you build your business. It will help you get clients and increase your revenue. It can also help you protect your company’s reputation and keep it out of trouble.

The license will typically be good for two years. The state will mail renewal forms approximately 90 days before the license expires. You can submit your renewal form by mail or online. You can pay the fees by check, money order, or a card authorization form.

Insurance

If you’re starting a security guard company, you’ll need to have insurance that will protect you against certain risks. There are several types of policies that you may need for your company, including General Liability, Workers’ Compensation, and Business Auto Insurance.

General liability is an insurance policy that can protect your company from claims of property damage or bodily injury. It also can help pay for damages and legal costs related to a claim.

Professional liability is another type of insurance that you may need for your security guard company. This type of insurance can help you protect your company from claims of negligence, inaccurate advice, or breaches of confidentiality.

Commercial auto is an insurance policy that covers any vehicles your security guard company uses to perform its duties. This is especially important if your security guards drive their own vehicles, as they can often get into accidents while driving on the job.

Getting the right insurance for your security guard company can save you from unexpected expenses and lawsuits. The best way to ensure you have the right coverage is to shop around and compare different plans. Ask local insurance agents to help you find the best options for your specific situation.

Also Read -   Enhancing Business Growth Through Virtual Numbers
Related articles
Join the discussion!