Home security is becoming more and more critical in the world today. According to the FBI, in 2016, there were over 1.7 million burglaries in the United States. That’s a lot of homes that were left unprotected!
As a homeowner, it will be your responsibility to ensure that your home is as secure as possible. You will have to learn all the best practices for home security and implement them in your home. But what if you want to take it one step further and start a business around the profitable home security sector?
If you’re thinking about starting a business in the home security industry, there are a few things you need to consider. They will require investments and careful planning, but if you do it right, you could have a very successful business.
Looking at the Market
The first thing you need to do is take a look at the market. Home security is booming, but that doesn’t mean there isn’t room for competition. There are plenty of home security companies, so you’ll need to find a way to make yours stand out.
Do some research and find out what other companies are doing. See what services they offer and how they market themselves. This will give you a good idea of what you’re up against in the home security sector.
It would help if you also thought about your target market. Are you going to focus on homeowners, commercial companies, or both? Once you know your target, you can tailor your products and services to them. Once you have those basics, you can start thinking about your business model.
There are a few different ways to approach the home security market. You could be a traditional security company that offers installation and monitoring services. Or, you could focus on selling do-it-yourself security products. There are pros and cons to both approaches.
The traditional model is more hands-on but requires more staff and resources. You’ll need salespeople to sell your services and technicians to install the systems. And, of course, you’ll need a call center to monitor the systems 24/7. This option is best if you have experience in the security industry.
The do-it-yourself model is less hands-on, but you’ll need to invest in marketing to ensure people know about your products. You’ll also need excellent customer support since people will install the systems themselves. This option is best if you’re good at marketing and have experience in customer service.
Identifying Your Product or Service
The next step is to identify your product or service. What are you going to offer that other companies don’t? Are you going to focus on a specific type of security system? Or are you going to offer a unique installation method?
To stand out in the home security market, you must have a unique selling proposition. This step is something that makes your company different from all the others. It’s what will attract customers to you and not your competitors.
For example, say you want to focus on do-it-yourself security products. Many companies already sell these products, so what will make yours different?
One option is to focus on customer service. You could offer free installation support or a live chat on your website. Excellent customer service will be essential to the success of your business.
Another option is to focus on a specific type of security system. There are many different plans, so you’ll need to choose the one you know. You could focus on home automation systems or security cameras.
Or, you could offer a unique installation method. If you have experience in the construction industry, you could install security systems during the building process. This step would give you a leg up on the competition since most companies only install systems after a home gets built.
Live Security Assistance
You’ll need to decide if you want to offer live security assistance. This service is where someone calls the monitoring center, and a live operator helps them with their security system.
For example, say there’s a break-in, and the homeowner can’t remember the code to turn off the alarm. The monitoring center would call the police, but the homeowner could also call the monitoring center for help.
Live security assistance is a great way to differentiate your company from others in the market. It’s also an excellent selling point for potential customers.
However, it’s important to note that this service has some risks. First, you’ll need to train your staff to handle different emergencies. Second, you may get calls in the middle of the night, which can be disruptive.
You can also partner with a security company specializing in creating the home security products you can maintain. When you get a certification, you can be the preferred repair option for home ProSeries security systems.
The home security market is competitive, but there are ways to make your company stand out. You can attract customers and grow your business by offering live security assistance and being the preferred repair option for a specific type of security system.