Private Security Company: One of Kenya’s greatest untapped business opportunities—which many residents are unaware of—is the private security company industry. Because there is less rivalry in this industry, it is in great demand, which ultimately results in higher earnings. One needs to have fundamental knowledge that is highly strategic in running a security firm business for it to be successful.
With the Increase in insecurity threats, rise in businesses, and advancement in technologies, many businesses opt to hire private security as public security provided by police is rigid. The industry has immensely grown.
It’s not as difficult as many people make it out to be to start a security company in Kenya. Since there have been more instances of insecurity in Kenya, several businesses and institutions have begun hiring security firms to provide them with security services like visitor screening and maintaining order.
Establishing a security business makes sense because everyone needs security, and you can charge for your services.
The Cost
Depending on the size of the company one wants, this will vary. The first step is to register the business and obtain the necessary paperwork. Purchasing the outfit and accessories required by the security guards will be a significant additional expense for you. They include uniforms, scanning equipment, and walkie-talkies. The business must obtain a business permit in addition to being licensed by Private Security Regulatory Authority.
One of the best businesses you can start is a security firm.
Step 1: Research
To prevent getting involved in something new that you are unfamiliar with, you should conduct extensive research to discover the business’s strengths, weaknesses, opportunities, and risks. To build a highly skilled security organization, concentrate on the competition that competitors are providing.
In doing research, you should identify a niche within the security Industry that is least exploited or that you are passionate about.
Niches in security vary within Protection, Surveillance, Alarms, and CCTV among others.
Step 2: Develop a Business Plan.
This will guide you all through; because it will tell you what to do to steer clear of impartial employment. Also, it aids in making the most of your resources.
Include your mission statement, products and/or services, and basic information about your company’s leadership team, employees, and location.
Step 3: Formulating A Start-Up Capital
The start-up capital varies from one niche to another as well as from one location to another. You should factor in accessories, licenses fee, initial salaries, and wages.
Step 4: Security Company Registration
Security Company’s initial registration is similar to other companies. It can be done through the E-citizen platform. However, it will take a little longer as Directors will have to be vetted.
- Have a security company name.
- The nature of your business.
- Directors’ details.
- Filling out the required form.
- Uploading the requirement form on the registration order and submit.
Step 5: Licensing by Private Security Regulatory Authority
Once the private Security company is registered as a company or Business Partnership, whichever form of business unit you chose, you will be required to submit documents to Private Security Regulatory Authority for Licensing.
READ: How to become a Licensed Gun Holder in Kenya
Step 6: Business Training and Support
Joining Security Industry Association after your company is registered will help you gain the benefits entitled to members, including training, marketing, and display at the security expo.
Some of the Security Industry associations are:
- Protective Security Industry Association
- Protective and safety association of Kenya – PROSAK
- Kenya Security Industry Association
- The Association of Corporate and Industrial Security Management Professionals of Kenya (ACISMP-K)
Step 7: Regulations
You should be aware of the regulations that govern the security sector since it is very crucial. This is done with the aid of the Kenya Private Security Regulatory Authority (PSRA).
There you go.
Follow us on Twitter, Facebook and LinkedIn for more updates.