There are plenty of great franchises in security to choose from. In this article, we’ll take a look at 10 of the best security businesses for those who want to be franchise owners.
We’ll also provide you with some important information about each franchise. So, without further ado, let’s get started!
What is a Security Franchise?
It is a security company that is owned by a franchisor and operated by a franchisee. The franchisor grants the franchisee the right to use its trademark, trade name, and marketing and operational processes in exchange for a fee.
There are many different types of franchises available, ranging from home security companies to event security providers.
- READ MORE: See our Franchise Guide
The Security Industry in 2022
Security solutions will be a big business in the years to come. The entire industry is worth an estimated $350 billion and growing. This growth is being driven by a number of factors, including the increasing threat of cybercrime, the rise of the gig economy, and the growing popularity of smart home security products.
Why You Should Consider a Security Franchise
Using the franchise business model is a great way to get involved in the security world. Here are five reasons to start a security business in 2022:
- Rapidly growing industry. The security industry is growing at an unprecedented rate. This provides plenty of opportunities for security franchisees to grow their businesses.
- Tap into a niche market. There are many different types of franchises in security. You can focus on a specific niche, such as home security or providing temporary security guard services.
- Proven marketing and operational processes. As a franchisee, you’ll benefit from the franchisor’s proven business model processes. This will give you a head start in the industry.
- Brand recognition. When you start a security franchise, you’ll be able to tap into the franchisor’s brand recognition helping you attract customers and grow your business quickly.
- Support from the franchisor. You’ll have access to the franchisor’s support system. This includes marketing, operational support, and access to the franchisor’s network of suppliers.
Top Security Franchises
Let’s take a look at the top franchise-developed security business opportunities available to anyone looking to tap into this super profitable industry:
1. Shield Security Systems
Shield Security Systems offers services to residential customers and businesses. It has a franchise fee of only $40,000 and an investment of between $74,275 and $125,550.
You’ll need a net worth of $250,000 and liquid assets of at least $75,000 to qualify. Other fees include a 5% royalty fee and a 1% national advertising fee.
2. Silbar Security
With a net worth of $100,000, liquid assets of $30,000, and a total investment of $100,400, the Silbar Security franchise is a great option for those looking to get their feet wet in the security business with an industry leader. Their royalty fee is only 5%.
3. TeamLogic IT
The TeamLogic IT franchise opportunity has a minimum net worth requirement of $300,000 and a liquid cash requirement of up to $78,092.
The total initial investment to open a TeamLogic IT franchise ranges from $110,918 to $142,709. The franchise fee is $40,000 – $45,000.
4. Patrol Services International
To open a Patrol Services International franchise, it would cost you between $109,500 and $233,500.
There is also an initial franchise fee of $39,000 for the first unit and $35,000 for subsequent patrol service units.
5. Security 101
The Security 101 franchise opportunity requires a liquid capital investment of $85,000. The initial total investment required ranges from $130,100 to $235,000. The initial franchise fee is $59,500 and the royalty fee is 4% to 6% of gross billings.
6. Signal 88 Security
The Signal 88 Security franchise opportunity has an initial investment between $78,200 to $221,150 and the royalty fee is 4% of gross revenues. There’s an initial franchise fee of $70,000 to $150,000 and even higher depending on territory size.
7. Pop-A-Lock
The Pop-A-Lock franchise system is a great investment for those with a net worth of $250,000 or more. With an initial investment starting at $85,000 and a franchise fee of only $29,000, this is a great opportunity for those looking to get their feet wet in the security world.
8. The Flying Locksmiths
The Flying Locksmiths franchise opportunity is a long-running business that has been in operation for over 70 years. The minimum franchise fee is $75,000 for territory of 500,000 people, and the total investment is between $163,000 – $263,000.
9. Surveillance Secure
The Surveillance Secure franchise opportunity has an initial investment range of $135-$243K, with a net worth requirement of $150K and liquid capital of $60K. Franchisees can expect to pay a franchise fee of at least $45K.
10. Computer Troubleshooters
Computer Troubleshooters offers cybersecurity services and has a franchise fee of $21,500. With a liquid capital requirement of $7,000 and a net worth requirement of $20,000, the investment for this franchise ranges from $28,800 to $81,500.
How to Choose the Best Franchise to Provide Professional Security Services
If you’re thinking of becoming a franchise owner, you may be wondering how to choose the best franchise to provide security services.
Here are four ways for future franchise owners to select the franchise that’s right for them:
Do your research.
Make sure you understand the franchise model and what it takes to be a successful franchise owner. Talk to other franchise owners and get their input.
Consider your market.
Choose a franchise that provides services in an area where you think there is a demand.
Review the franchise agreement.
Be sure you understand the terms of the agreement and what type of commitment you’re making.
Talk to the franchisor.
Ask about their experience in the industry and what type of support they provide to franchisees. Get a feel for their vision for the future of the franchise and whether it aligns with yours.
How Much Does It Cost to Open a Security Franchise?
The cost to open your own security franchise will vary depending on the franchisor, the size of the franchise, your location, and the franchise fee.
However, you can expect to invest anywhere from $74,000 to several hundred thousand dollars to get started.
Are Security Franchises Profitable?
Yes, this business opportunity can be very profitable. For example, a security company can make roughly $50,000 a year, per security guard.
Of course, this will vary depending on the size of the company, the type of company, the location, etc.
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This article, "10 Security Franchise Opportunities" was first published on Small Business Trends
via https://www.aiupnow.com
Kevin Ocasio, Khareem Sudlow
