How Do I Start a Security Company in North Carolina?

North Carolina has been consistently ranked as one of the top places to carry out business. This is due to the low cost associated with doing business in the state, the plentiful labor force and supportive business environment. Also, a tax credit is provided for new businesses. This helps lower overall operational costs and is an incentive for new companies. Starting a security company requires specific skills. If you do not have experience in law enforcement, the military or the security industry, consider hiring someone who does.

Research and select an area in which to specialize. Some of the areas you can choose to specialize in include, installation and maintenance of security systems, cash management security, personal security, business security, home security, security at events, investigation and detective services.

Write a business plan. Your business plan will define your security business and identify your goals and operational strategic management plan. The business plan will help you determine the initial capital requirements, cash flow, revenue and profits. A good business plan is essential when you seek funding for your business as it will show how you plan to repay borrowed money.

Get capital. This entails determining the source of capital for your security company. You can find financing through equity or debt. In equity finance, approach several interested investors and sell the business plan to them. Debt financing involves consulting with financial institutions in North Carolina to provide you with debt capital. This process may be facilitated by your lawyer. Also, the Small Business Administration has loan programs for new small businesses.

Register the company. This entails submitting articles of incorporation, corporate bylaws, incorporation folder and the registered business name to the secretary of state. You will be required to pay $45 to register your company as of 2010. You also have the option of getting a deluxe corporate kit and corporate seal at $65, but it is not required.

Register to pay taxes. Get an Employer Identification Number (EIN) from the Internal Revenue Service (IRS). This can be done online.

Find a location. Online directories and real estate agents can help you find a good location in North Carolina. Find a location that does not already have the kind of security services you are providing.

Hire employees. You must ensure that your staff is well trained and can handle security issues. This includes formal training in security through private schools, technical and university classes and state programs. The employees should also be licensed. Security guards in North Carolina need to be licensed by the North Carolina State Department of State, Division of Licensing Services. You are required to complete a background check on employees and ensure they have no criminal record.

Get the required equipment. This will depend on your type of company. These include vehicles to transport staff to their designated work stations and facilitate speedy delivery of services. Get uniforms that will be worn by the security personnel when they are on duty. In some cases you may required to provide batons and firearms.

Tips

  • Ensure that your business is well known through an aggressive marketing strategy, including advertising and services customized to the market needs.

References

About the Author

Martin Muchira has been writing content for online businesses since 2008. He has written content for major companies like Air Asia and Comcast. Muchira graduated at the top of his class from Moi University with a Bachelor of Science in wood science and industrial processes.