If you’re looking for a business that is both lucrative and exciting, starting a bodyguard business might be just the thing for you. In this article, we will outline the steps necessary to get your business up and running. So let’s get started!
Here are the steps you can take to get started on building your very own bodyguard business.
10 Steps to Launching a New Bodyguard Business
1. Choose Your Type of Bodyguard Business
The first step in launching a bodyguard business is to identify the type of bodyguard business you want to launch. You might choose from the following types among others:
– Executive Protection: You will provide security detail to high-profile clients, such as CEOs or celebrities.
– Personal Protection: You will protect an individual or family from threats.
– Event Security: You will work at concerts, conventions, and other events to ensure the safety of attendees.
Learn more about the types of bodyguard businesses.
2. Name Your Bodyguard Business
Give your bodyguard business an identity so people will think of it as a well-known and respected brand. You can take the name of your bodyguard business from your industry, focus on a geographical location, or use your own name among other options.
The main goal for naming your bodyguard business is to make it sound appealing and trustworthy so that potential clients will be more likely to use your services.
3. Determine Your Bodyguard Business Model
There are several possible types of business models for a bodyguard business including:
- Independent contractor: You will be hired by other security companies to provide bodyguard services.
- Working with a security agency: You will be employed by a security agency that provides bodyguard services.
- In-house security: You will work for a single business or organization to provide them with security services.
No matter which model you choose, make sure that it aligns with your business goals and the services you offer.
4. Choose a Legal Form for Your Business
By incorporating your bodyguard business, you will limit your liability. You can incorporate as a Limited Liability Company (LLC), a C Corporation (C-Corp), or an S Corporation (S-Corp). Or you can operate as a sole proprietorship.
The business structure you choose for your bodyguard business will determine the amount of taxes you pay and which state or federal tax forms you need to file.
Read our article comparing the most common bodyguard business structures.
5. Write a Bodyguard Business Plan
All bodyguard business owners should develop a business plan.
A business plan is a document that outlines the goals, strategies, and operations of a business. It can be used to secure funding from investors or lenders, as well as to guide the day-to-day operations of the business. The business plan should include information on the company’s products or services, market analysis, financial projections, and management team among other things.
Read our article about how to write a bodyguard business plan.
6. Apply for the Necessary Permits and Licenses
There may be required licenses and permits you need to obtain before launching your bodyguard business.
For example, in order to work as an armed security guard, you will need to obtain a weapons permit from your state. And if you plan on providing executive protection services, you will likely need to be licensed as a private investigator in some states.
Contact your local business license office to learn about the permits and licenses required for your specific bodyguard business.
You must also register your bodyguard business as a legal entity with the state where you plan to do business. You can simply file an online form through your Secretary of State website.
Registering with the federal government is also essential so you can properly pay taxes for your business. You will also need an Employer Identification Number (EIN), which you can apply for at the IRS website, if you plan to hire employees.
Read our article about obtaining the proper bodyguard business licenses.
7. Determine Your Budget & Apply for Funding as Needed
In developing your bodyguard business plan, you will figure out how much funding you need to start and grow your business.
If you have your own funds to invest in your bodyguard business, you may consider taking advantage of that. In addition to your personal funds, other forms of potential funding for your bodyguard business include traditional bank loans, SBA loans, credit cards, angel investors and family and friends.
Read our article about the costs associated with starting a bodyguard business to help you determine if funding is needed.
Read our article about how to fund your bodyguard business.
8. Get the Technology & Software Needed to Run Your Business Efficiently
When you start your bodyguard business, it’s essential to have the right technology in place to maximize efficiency. You definitely need a computer with Internet access, and accounting software for tracking expenses and revenues.
You may also want to invest in bodyguard-specific software, which can help with things like scheduling, tracking client information, and managing finances.
9. Market Your Bodyguard Business to Potential Clients
Before you start selling your services, you have to let the world know you exist. The first step is to create a website so people can learn more about your services and how they benefit them.
After you launch your website, start promoting it through social media channels like Facebook, LinkedIn and Twitter. Also consider networking with other people in the bodyguard industry through social media and blogs so they can help share your business.
You also need to start gathering the materials needed to execute on your promotions strategy, which is your strategy for attracting new customers. Bodyguard businesses should consider the following promotional strategies for which you should start getting prepared:
- Develop a strong social media presence
- Create a blog and post informative articles
- Network with other businesses in the industry
- Attend trade shows and conferences related to the bodyguard industry
- Engage in local community events
- Develop relationships with the media
Read our article about how to market your bodyguard business for more tips.
10. Get New Clients & Grow Your Business
When you promote your services, you’ll start to get interest from potential clients.
Make sure you’re ready to serve these clients. Also, be sure to establish systems to ensure consistency and reduce costs. And be sure to find and train the right people to help you grow your bodyguard business.
Read our article about how to effectively grow your bodyguard business to learn more.
Starting a Bodyguard Business FAQs
The bodyguard industry is expected to grow in the coming years, so now is a great time to start a bodyguard business. There are many reasons why starting a bodyguard business can be a great idea, including: You can be your own boss - As the owner of a bodyguard business, you'll be in charge of your own destiny. You can make a difference - As a bodyguard, you'll be responsible for protecting people from harm. This can be a very fulfilling career. There's good potential for growth - The bodyguard industry is expected to grow in the coming years, so there's good potential for your business to grow as well. To start a successful bodyguard business, you'll need the following: When starting a bodyguard business, you'll also need to cover the startup costs. This may include costs for website design, marketing materials, and software. Be sure to budget enough money to cover these expenses so you can launch your business successfully. If you're looking to start a bodyguard business from home, there are a few things you'll need to do. First, you'll need to get the proper training and experience. Next, you'll need to invest in the right technology and software. Finally, you'll need to create a well-executed marketing plan. With the right preparation, you can start a bodyguard business from home and be successful. If you're looking to start a bodyguard business online, there are a few things you'll need to do. First, you'll need to create an online presence. This includes creating a website and social media profiles. Next, you'll need to invest in the right technology and software. Finally, you'll need to create a well-executed marketing plan. Here are a few tips for starting a bodyguard business: A simple checklist to use when starting a bodyguard business is as follows: Why Start a Bodyguard Business?
What is Needed to Start a Successful Bodyguard Business?
How Can I Start a Bodyguard Business From Home?
How Can I Start a Bodyguard Business Online?
What are Some Tips for Starting a Bodyguard Business?
Where Can I Find a Simple Checklist for Starting a Bodyguard Business?
Summary
Starting a bodyguard business can be a great way to make money and help protect people. Following these tips will help you get started on the right foot.