Are you about starting a bodyguard company? If YES, here is a complete sample executive protection business plan template & feasibility report you can use for FREE.
Okay, so we have considered all the requirements for starting an executive protection company. We also took it further by analyzing and drafting a sample executive protection service marketing plan template backed up by actionable guerrilla marketing ideas for executive protection companies. So let’s proceed to the business planning section.
If you have a police background and you have been able to gather some years of experience and professional certification before retiring as a police officer, you can still make money from your experience after retirement by starting your own bodyguard and executive protection company.
It is easier for those who have real time experience in the police or any other active security force to set up this business. The need for people especially celebrities and public figures to protect themselves and their families is much, and as a matter of fact; there are public figures that can’t move around if they don’t have personal guards.
A bodyguard and executive protection company provides both armed and unarmed security related services to both private and public clients at an agreed fee. According to the united states of Bureau of Labor Statistics, a bodyguard and executive protection company provides security services like bodyguard, guard dog, parking security and security guard services.
Although security is the responsibility of everyone, but there are professionals who are major stakeholders in the industry.
Government security agencies such as The Military, the Police, CIA, FBI, Homeland Security, KGB, Interpol and loads of other government owned security outfits have their jobs crafted for them, same as bodyguard and executive protection companies.
If you are considering starting your own bodyguard and executive protection outfit from the scratch, then your determination and diligence are some of the factors that will determine if you can succeed in your pursuit.
The fact is that there are many huddles you must scale through before you can setup such a company in the United States of America. If you are serious about starting the business, then you will find the business plan below very useful.
A Sample Bodyguard and Executive Protection Business Plan Template
1. Industry Overview
Bodyguard and executive protection service is classified under the private security services industry. It is obvious that the private security industry is indeed a fast growing industry, at present there are about 2 million full – time security workers in the United States of America and this number is expected to grow by an estimate of 21 percent by 2022.
The worldwide private security industry was approximately 96 billion U.S. dollars in size way back in 2013 and statistics has it that the largest share of this market was held by Europe at almost 30 percent, then followed by Asia (with the exception of Japan) and North America.
The income of the private security industry was set to reach an estimate of about 25 billion U.S. dollars in the United States in 2014. Security alarm services alone in the United States of America generated a whooping sum of 17 billion U.S. dollars per year between 2008 and 2014.
It is on record that in 2013, the money generated by the global security technology and related services market rose just over 67 billion U.S. dollars and was projected to reach an estimate of about 86 billion by the year 2016. Statistics also has it that the global spending on ICT related security services was set to reach approximately 50 billion U.S. dollars in 2015.
Indeed, the private security industry is a large industry which is why some of the leading private security companies worldwide such as UK-based G4S, Sweden-based Securitas AB and U.S.-based ADT Corporation – in 2013 could boast of generating 12.08 billion, 10.12 billion and 3.31 billion U.S. dollars respectively in just a calendar year.
Whereas in the United States of America, the fastest – growing bodyguard and executive protection company in 2013 was Innovative Surveillance Solutions with a three – year combined revenue growth of about 5,605 percent.
It is on record that of the 15 fastest growing private security company, Datto (A Connecticut-based company specializing in hardware-based backup, disaster recovery and business continuity services) generated the most revenue that year with 48.9 million U.S. dollars.
Statistics also has it that in 2010, the revenue of security services in the United States of America is estimated to be at about 25.2 billion U.S. dollars.
No doubt, the private security industry is growing despite the fact that the government of various countries are not relenting when it comes to providing security for her citizens. One thing is certain, the private security industry is an evolving one and new technology and approaches are being employed when it comes to delivering standard and safer security services.
The industry can’t be said to be oversaturated simply because there are different areas (niches) a bodyguard and executive protection company can specialize in.
The factors that encourage entrepreneurs to venture into the private security industry are the ability to get good returns on your investment with minimal risks. For example, when you secure a contract to provide security cum bodyguard and executive protection for a celebrity, the norm is that you will be financially mobilized before executing the contract.
People also get encouraged to start their own bodyguard and executive protection companies, because on the average, it is cost effective to manage the business/workforce.
It is the practice for bodyguard and executive protection outfits to recruit and train security guards, bodyguards and security dogs et al when they have a security contract to execute which is why they don’t usually maintain a large workforce.
2. Executive Summary
Claude Nelson® Body Guard & Executive Protection Company is a licensed bodyguard and executive protection company that will be based in Colorado Boulevard Pasadena – California. We have been able to secure the required security clearance and office facility to run a bodyguard and executive protection company in the United States.
Claude Nelson® Body Guard & Executive Protection Company is a client-focused and result driven bodyguard and executive protection outfit that provides broad-based security services at an affordable fee that won’t in any way put a hole in the pocket of our clients.
We will offer standard and professional security services such as the prevention of unauthorized activity or entry in a specified perimeter, bodyguard, and guard dog services et al to all our clients at all levels. We will ensure that we work hard to meet and surpass our clients’ expectations whenever they contract their security concerns to our organization.
At Claude Nelson® Body Guard & Executive Protection Company, our client’s best interest would always come first, and everything we do is guided by our values and professional ethics. We will ensure that we hire professionals who are well experienced in a wide variety of bodyguard and executive protection services.
Claude Nelson® Body Guard & Executive Protection Company will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely.
Our plan is to position Claude Nelson® Body Guard & Executive Protection Company to become one of the leading brands in the private security industry in the whole of California, and also to be amongst the top 20 bodyguard and executive protection outfits in the United States of America within the first 10 years of operation.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Colorado Boulevard Pasadena – California is the right place to launch our bodyguard business.
Claude Nelson® Body Guard & Executive Protection Company is private – partnership business that is owned by Claude Nelson an Ex Police Chief. He graduated from the University of California – Berkley (First Degree), and University of Harvard (MBA).
Claude Nelson is a Certified Security Project Manager (CSPM), Cisco Certified Security Professional (CCSP), Certified Security Compliance Specialist (CSCS), and Certified Information System Security Professional (CISSP) with over two decades’ experience as a security professional.
3. Our Products and Services
Claude Nelson® Body Guard & Executive Protection Company is going to offer varieties of services within the scope of private security services industry in the United States of America. Our intention of starting our bodyguard and executive protection outfit is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim.
Our business offerings are listed below;
- Prevention of unauthorized activity or entry in a specified perimeter
- Polygraph services
- Corporate investigative services
- Security guard and crowd control services for temporary events
- Bodyguard services
4. Our Mission and Vision Statement
- Our vision is to build a bodyguard and executive protection company brand that will become the number one choice for both celebrities and public figures in the whole of California.
- Our mission is to provide professional and trusted bodyguard and executive protection services that assist celebrities, public figures and other clients to stay safe and move around town or when they travel from place to place. We are to position the business to become the leading brand in the industry in the whole of California, and also to be amongst the top 20 outfits in the United States of America within the first 10 years of operation.
Our Business Structure
Claude Nelson® Body Guard & Executive Protection Company is a standard bodyguard and executive protection outfit that intends to start small in Pasadena – California, but looks to grow big in order to compete favorably with leading outfits in the United States.
We are aware of the importance of building a solid business structure that can support the kind of world class business we want to own. This is why we are committed to only hiring the best hands within our area of operation.
At Claude Nelson® Body Guard & Executive Protection Company, we will ensure that we hire people that are qualified, hardworking, creative, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders.
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more as agreed by the board of trustees of the company. In view of the above, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Chief Security Officer / Manager
- Admin and HR Manager
- Marketing and Sales Executive
- Customer Services Executive
5. Job Roles and Responsibilities
Chief Executive Office:
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, appraising job results and developing incentives
- Responsible for providing direction for the business
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Chief Security Officer/Manager
- Manages the overall activities of bodyguards’/security staff members and equipment
- Achieves maximum profitability and over-all success by controlling costs and quality of service.
- Completes weekly schedules. Schedule employees as necessary to ensure adequate and consistent levels of security service to all our clients.
- Responsible for security control policies and completion of necessary forms.
- Co-ordinates the general execution of bodyguard / security services as requested by clients.
- Submits security reports on a regular basis to the management of the organization and gives professional advice as at when due.
- Responsible for interviewing and hiring bodyguards, vendors, selecting and ordering materials, negotiating rates, coordinating the sequence of events as it relates to security services
- Plans, designs and produces security solutions (software and hardware et al) while managing all project delivery elements within time limits
- Liaises with clients to identify their security needs and to ensure customer satisfaction
- Conduct market research, gather information and negotiate contracts prior to closing any deals
- Provides security feedback and periodic reports to stakeholders
- Proposes ideas to improve security services
- Ensures compliance with insurance, legal, health and safety obligations
- Specifies staff requirements and coordinate their activities
- Cooperates with marketing and PR to promote and publicize safety concerns
- Conducts pre- and post – security evaluations and report on outcomes
- Offers security advisory and consultancy services to clients
Admin and HR Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Defines job positions for recruitment and managing interviewing process
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities.
Marketing and Sales Executive
- Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
- Identifies development opportunities; follows up on development leads and contacts
- Writes winning proposal documents, negotiate fees and rates in line with company policy
- Responsible for handling business research, marker surveys and feasibility studies for clients
- Documents all customer contact and information
- Represents the company in strategic meetings
- Helps to increase sales and growth for the company
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting for one or more properties.
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the company
- Serves as internal auditor for the company
Client Service Executive
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
- Ensures that our client is adequately protected and have easy movement when they are carrying out their services or whenever they are traveling
- Prevents the public and fans from mobbing our clients
- Responsible for prevention of unauthorized activity or entry in a specified perimeter as request by our clients
- Part of the roving patrol services team
6. SWOT Analysis
Because of our drive for excellence when it comes to running a standard bodyguard and executive protection services business, we were able to engage some of the finest business consultants in California to look through our business concept and together we were able to examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard executive protection outfit.
Here is a of what we got from the critically conducted SWOT Analysis Claude Nelson® Body Guard & Executive Protection Company;
Aside from the fact that our bodyguard and executive protection company is of world – class standard and the business is well positioned and equipped to meet the 21st century demand of high profile clients, we have a team that can go all the way to give our clients value for their money; a team that are trained and equipped to pay attention to details as regards security concerns. We are well positioned and we know we will attract loads of clients from the first day we open our doors for business.
As a new bodyguard and executive protection outfit, it might take some time for our organization to break into the market and gain acceptance in the already saturated industry; that is perhaps our major weakness.
The opportunities in the private security services industry is massive considering the number of public figures who can’t afford to leave the security of their lives to government security agencies. As a standard bodyguard and executive protection outfit, we are ready to take advantage of any opportunity that comes our way.
Some of the threats that we may likely face as a bodyguard and executive protection outfit operating in the United States are unfavorable government policies, the arrival of a competitor within our location of operation and global economic downturn which usually affects purchasing cum spending power. There is hardly anything we can do as regards these threats other than to be optimistic that things will continue to work for our good.
7. MARKET ANALYSIS
- Market Trends
The security industry is one of the industries that are highly regulated so as to prevent costly security breaches that endanger the country. So if you are looking towards starting a bodyguard and executive protection company, then you should acquire international security certifications; it will give you an edge amongst your competitors. The truth is that the more relevant security certifications you and your team have, the easier it is for you to convince people to patronize your services.
If you are able to build a successful security company brand, you can pitch your business in any part of the world and still make success out of it especially if you run a bodyguard and executive protection business. But if you are just starting out; especially if you are a newbie in the security industry, it is important that you locate your business in an area with healthy business activities.
As a matter of fact, social media has now become one of the most important tools bodyguard and executive protection outfits leverage on to disseminate information about their security concerns, solicit feedback, and create year-round engagement with their target audience.
Furthermore, new software apps and emerging technology have made it easier for bodyguard and executive protection outfits to gather all the needed data and information that will help them plan and project for the future.
8. Our Target Market
Although Claude Nelson® Body Guard & Executive Protection Company will initially serve celebrities and public figures at local levels, but that does not in any way stop us from growing to compete with the leading executive protection companies in the United States.
Our target market cuts across people of different class and people from all walks of life, local and international organizations as well. We are coming into the industry with a business concept that will enable us work with highly placed people and companies in the country. Below is a list of the people and organizations that we have specifically designed our services for;
- Public figures
- Event planners
- Political Parties/Politicians
- Rich families
- Successfully businessmen and women
Our competitive advantage
Surviving in the business world as a bodyguard and executive protection company requires more than your expertise, but also how to network with key people that matters.
There are loads of big time investors such as Halliburton et al that have stakes in the private security industry, but one thing is certain, there is room big enough to accommodate both big and small private security companies. What smaller private security companies need to do to survive in the industry is to concentrate on providing security services to growing celebrities and public figures et al before bidding for big security contracts from A list celebrities and public figures.
Our ability to compete on tender, fast adjustments made to changing regulations and close monitoring of competition are part of the competitive advantages we will be bringing to the industry.
Claude Nelson® Body Guard & Executive Protection Company might be a new entrant into the industry, but our management staff highly qualified private security experts in the United States. We are a world – class bodyguard and executive protection business that is well positioned and equipped to meet the 21st century security demand. These are part of what will count as a competitive advantage for us.
Lastly, our employees will be well taken care of, and their welfare package will be amongst the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Claude Nelson® Body Guard & Executive Protection Company is established with the aim of maximizing profits in the industry and we are going to go all the way to ensure that we do all it takes to attract clients on a regular basis. Claude Nelson® Body Guard & Executive Protection Company will generate income by offering the following private security services;
- Prevention of unauthorized activity or entry in a specified perimeter
- Polygraph services
- Corporate investigative services
- Security guard and crowd control services for temporary events
- Bodyguard services
10. Sales Forecast
One thing is certain; there would always be clients who can’t afford to leave the security of their lives to government security agencies. As a standard bodyguard and executive protection outfit, we are ready to take advantage of any opportunity that comes our way.
We are well positioned to take on the available market in Colorado Boulevard Pasadena – California and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base beyond California.
We have been able to examine the bodyguard and executive protection services market, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast.
Below are the sales projection for Claude Nelson® Body Guard & Executive Protection Company, it is based on the location of our business and the wide range of bodyguard and executive protection services that we will be offering;
- First Fiscal Year: $350,000
- Second Fiscal Year: $750,000
- Third Fiscal Year: $1.25 Million
N.B: This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown within the period stated above. There won’t be any major competitor offering same services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
We are mindful of the fact that there is stiff competition amongst bodyguard and executive protection companies in the United States of America; hence we have been able to hire some of the best business developers to handle our sales and marketing concerns.
Our sales and marketing team will be recruited based on their vast experience in the industry and they will be trained on a regular basis so as to be well equipped to meet their targets and the overall goal of the organization. We will also ensure that our excellent job deliveries speak for us in the market place; we want to build a standard private security services business that will leverage on word of mouth advertisement from satisfied clients.
Our goal is to grow our private security services company to become one of the top 20 bodyguard and executive protection companies in the United States of America which is why we have mapped out strategies that will help us take advantage of the available market and grow to become a major force to reckon with in the United States of America.
Claude Nelson® Body Guard & Executive Protection Company is set to make use of the following marketing and sales strategies to attract clients;
- Introduce our business by sending introductory letters alongside our brochure to celebrities, public figures, event planners and key stake holders in and around Pasadena – California
- Promptness in bidding for bodyguard and executive protection business services contracts from the government and other cooperate organizations
- Advertise our business in relevant magazines, newspapers, TV, and radio stations.
- List our business on yellow pages’ ads (local directories)
- Attend relevant international and local expos, seminars, and business fairs et al
- Create different packages for different category of clients in order to work with their budgets and still deliver quality services to them
- Leverage on the internet to promote our business
- Engage direct marketing approach
- Encourage word of mouth marketing from loyal and satisfied clients
11. Publicity and Advertising Strategy
We have been able to work with our brand and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market. We are set to take the private security services industry by storm which is why we have made provisions for effective publicity and advertisement of our bodyguard and executive protection services outfit.
Below are the platforms we intend to leverage on to promote and advertise Claude Nelson® Body Guard & Executive Protection Company;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community based events
- Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, YouTube, Google + et al to promote our brand
- Install our billboards in strategic locations all around Colorado Boulevard Pasadena – California
- Distribute our fliers and handbills in target areas
- Ensure that all our workers wear our branded shirts and all our vehicles are well branded with our company’s logo et al.
12. Our Pricing Strategy
Just like in services and consulting business, hourly billing for bodyguard and executive protection services is a long – time tradition in the industry. However, for some types of contracts or clients, flat fees make more sense because they allow clients to better predict the overall service charge. As a result of this, Claude Nelson® Body Guard & Executive Protection Company will charge our clients both flat fee and hourly billing as long as it favors both parties.
At Claude Nelson® Body Guard & Executive Protection Company we will keep our fees below the average market rate by keeping our overhead low and by collecting payment in advance. We are aware that there are some clients that would need regular access to bodyguard and executive protection services, we will offer flat rate for such services that will be tailored to take care of such clients’ needs.
- Payment Options
The payment policy adopted by Claude Nelson® Body Guard & Executive Protection Company is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Claude Nelson® Body Guard & Executive Protection Company will make available to her clients;
- Payment via bank transfer
- Payment via POS
- Payment via online bank transfer
- Payment via check
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for services rendered without any stress on their part. Our bank account numbers will be made available on our website and promotional materials.
13. Startup Expenditure (Budget)
Starting a bodyguard and executive protection services firm can be cost effective because on the average, you are not expected to acquire expensive machines and equipment. What you should be concerned about is the amount needed to secure a standard office facility in a good and busy business district, the amount needed to furniture and equip the office, purchase the required software applications, pay bills, promote the business and obtain the appropriate business license and certifications.
These are the key areas where we will spend our startup capital;
- The total fee for incorporating the business in the United States of America – $750.
- The budget for basic insurance policy covers, permits and business license – $2,500
- The amount needed to acquire a suitable office facility (Re – Construction of the facility inclusive) – $150,000.
- The cost for equipping the office (computers, software applications, printers, fax machines, furniture, telephones, filing cabins, security and safety gadgets and electronics et al) – $5,000
- The cost of launching an official website – $600
- The cost for the purchase of 21st century security gadgets, software and guard dogs et al – $100,000
- Budget for paying employees for 2 months plus utility bills – $100,000
- Additional expenditure (Business cards, Signage, Adverts and Promotions et al) – $2,500
- Miscellaneous: $5,000
Going by the report from the market research and feasibility studies conducted, we will need about two hundred and fifty thousand (250,000) U.S. dollars to successfully set up a medium scale but standard bodyguard and executive protection company in the United States of America.
Generating Startup Capital for Claude Nelson® Body Guard & Executive Protection Company
Claude Nelson® Body Guard & Executive Protection Company is a private registered business that will be owned by Claude Nelson. He is the sole financier of the firm, but may likely welcome partners later which is why they decided to restrict the sourcing of the startup capital for the business to just three major sources.
- Generate part of the startup capital from personal savings
- Source for soft loans from family members and friends
- Apply for loan from the bank
N.B: We have been able to generate about $50,000 (Personal savings $40,000 and soft loan from family members $10,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and documents have been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.
14. Sustainability and Expansion Strategy
The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business close shop.
One of our major goals of starting Claude Nelson® Body Guard & Executive Protection Company is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.
We know that one of the ways of gaining approval and winning customers over is to offer our bodyguard and executive protection services a little bit lower than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Claude Nelson® Body Guard & Executive Protection Company will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re training of our workforce is at the top burner.
We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
- Business Name Availability Check: Completed
- Business Incorporation: Completed
- Opening of Corporate Bank Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Securing a standard office facility and reconstruction inclusive: In Progress
- Conducting Feasibility Studies: Completed
- Generating part of the start – up capital from the founder: Completed
- Applications for Loan from our Bankers: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents: In Progress
- Design of The Company’s Logo: Completed
- Printing of Promotional Materials: Completed
- Recruitment of employees: In Progress
- Purchase of the needed security gadgets, patrol vans, security software application, security/guard dogs, uniforms, furniture, office equipment, electronic appliances and facility facelift: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business (Business PR): In Progress
- Health and Safety and Fire Safety Arrangement: In Progress
- Establishing business relationship with key players in the industry: In Progress