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Business Plan Project for a Security Guard Company SecureIT - Case Study Example

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The author of the paper "Business Plan Project for a Security Guard Company SecureIT" will begin with the statement that the company SecureIT is a company formed as a partnership between two friends Mr. Don Lawson and Mr. Luther Graves each with a different experience in a different field…
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Business Plan Project for a Security Guard Company SecureIT
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Final Business Plan Project for a Security Guard Company: Section Eight Executive summary: The company SecureIT is a company formed as a partnership between two friends Mr. Don Lawson and Mr. Luther Graves each with a different experience in a different field. One has experience in security systems in relation to IT developments while the other has experience gained through serving under the police for over twenty years. The company aimed at providing quality security services that will cover the provision of guards to different premises, conducting private investigations and the provision of consultancy services to the customers. The form of business is service oriented. It’s marketing strategy will focus on provision of a website for easy communication and a high tech system that provides support for gaining the necessary intelligence for security purposes. It will also involve the development of a security research center in which major threats will be studied and results employed in the improvement of services provided by the company. The company aims at starting with a total of 160 guards with 20 clients each absorbing 8 guards. These will have 4 on entry points of the premises and 4 patrolling within to increase efficiency of the services. Through these, better services are guaranteed in the guarding sector. The private investigations will be conducted by a team of 6 employees qualified in the field with the consultancy services a reserve of one of the partners Mr. Luther Graves that has experience in security related fields. Occasionally will Mr. Don provide consultancy services especially if there comes a client in need of aid in security IT systems. Section One: Business Description: The company SecureIT deals with the provision of security guards to different business premises with the aim of boosting security in the wake of terrorist threats. It offers security guards, private investigations and consultancy services in relation to security and aiding different corporations handle their security needs effectively. The company is a startup made up of a partnership between two partners that hold experience in the field of security with one Mr. Don Lawson having experience in security IT systems and the other Mr. Luther Graves holding experience in the policing field having worked with a security firm for over twenty years. Mission statement: SecureIt aims at providing quality security guards and consulting services with a demonstrated alertness, responsiveness, due diligence in approaching work or any threats and investigative needs, accurate judgment and a culture of quality in service delivery. Company vision: SecureIt aims at standing at the global security point in dealing with security threats and security challenges. It strives to become the best quality agency providing security services to its clients. It operates on pillars of alertness, integrity, quick and timely responsiveness, and quality guards and security services that will protect lives and property of our clients. Business goals and objectives: The goal of the company is to grow revenues on a 7% on an annual basis to provide for growing returns on the company’s business. To meet this goal, the following objectives will need meeting: Having a growing clientele on a regular basis. Maintaining of a quality of services in its efforts to meet its goals. The hiring of quality employees. Description of the proposed form of organization: The proposed organization is a service business that will provide security services to the clients. The company will provide the expert services that will aid in securing the clients and their premises. A service-oriented business provides intangible products to their markets with an approach that associates quality with the level of satisfaction that the clients obtain from the services provided. Rationalization for the form of organization chosen: A service-oriented business provides for an easy approach to business that will focus on services based on the experience that the partners have in the field of security. The company proves easy to run based on the service nature. It proves easy to manage and more profitable in nature. The service sector is easy to handle and requires less costs in starting. Section Two: Industry and Market analysis: The increasing terrorist threats have provided a propelling effect to the demand for security services all over the world. Research conducted by a Cleveland based firm The Freedonia Group, private contract for security services will increase with over 7% in 2016 to total revenue of over $244 (Griffin). The market segment that the report covered included alarm monitoring systems, guard services, armored transportation services, private investigations, security consulting services among others. Our company will focus on guard services, the enhancement of private investigations and the provision of security consultancy services. The report indicated that the contract guarding services cover the bulk of the demand and provide for the growing demand in this sector. These will cover the market needs accounting for over half of the increase in revenues for the companies engaged in provision of security services in the year 2016. The major customers that the company SecureIt will target include major premises that host a large number of people during the day and night. These cover the entrances and have others patrolling within for identification of any situations that pose a security threat to the lives and property occupying the premises. The market is filled with both controllable and uncontrollable factors that will affect the performance and growth of the company revenues. The growth rate of the company is covered at 7% with effective marketing matching that projected by Freedonia Group. The controllable factors in the market include the internal factors that the company interacts with more regularly that ranges from the level of skills hired, the technological ability of the company, its resource efficiency. These affect the type of product that the company reaches to the market and hence its absorption ability. The uncontrollable factors of the market include the competition from other established companies such as G4S Gartner Security among others. Section Three: Competitive Analysis: The field dealing with the provision of security guards is highly competitive with each company providing its services to the clients at its best to ensure that they build a reputation that allows for future business. The low prices will allow for an effective marketing and dealing with the already competitive field. The primary competitors include the local market competitors that include multinational security companies such as G4S, Securitas North America, U.S Security Associates. The secondary competitors will include small security companies based locally that include those within the locality of the business location. The major advantage that the competing companies provide to the field is their established resource abilities that include a reputation that promotes the business. The secondary competition provides for a fair competitive edge that involves level fields for a new company to compete fairly. This proves so based on the fact that many of the competitors within the locality have limited resources and have not operated for a long time. Section Four: Marketing Strategy: In meeting the goals of the company, a marketing strategy that is all inclusive of all the market needs will enhance the market growth necessary. The strategy will cover short term, midterm and long term. The success of any marketing strategy rests in the ability to link the organization from its internal factors to its external factors. The internal factors will include the development of quality services from high quality employees and training them in the necessary security details to provide services better than competitors can offer. The other will involve providing quality and accurate consultancy services to the clients to ensure that the products benefit the customers. The short-term strategy involves improving the services and a high customer feedback system that allows for constant improvement of the company services. This will cover the product aspect of the products. As part of the marketing strategy, the company will develop a website on which communication with clients will prove easy. The application of a website provides a feedback system that allows for the close communication and improvement based on the needs of the customers. Among the long term, strategies include the development of a research center and a high tech investigation center that will provide for a high intelligence in the provision of security services. The high intelligence center will ensure accurate information that is the basis for a security provision. The company will target corporations in different premises and their security needs. Establishments with offices and parking lots, mega retail stores, hospitals among other establishments. The marketing mix applicable will include product, promotion, place and pricing. The other marketing mix elements like promotions will include the marketing aspects on promotions conducted through online sources, the place approach will aid in knowing the point of delivery while the pricing aspect will have the company have low prices for their products to ensure it achieves its growth objectives. The major system of distribution will involve direct relation with the clients as basic for service companies. Section Five: Human resource requirements: The business will have a detailed human resource team that will involve a complete structure with an administrative units, a marketing unit, IT department that will handle all IT needs of the business, top management and line employees that represent the guard. The structure will appear as below: The above structure represents the organization structure employed in SecureIt Company. The President will provide direction to the company with top stewardship aspects. The Vice President will play the deputy roles of the president holding office in his absence and relieving the president of other roles as assigned by the President. The top management needs be qualified in management and security studies while the guards would include those qualified in security related fields. The Administrative units provide administrative roles including accounting services, secretarial services and other administrative needs of the company. The team will include account and head of finance, the receptionist, the accountants, and their junior staff. The head of marketing provides management roles to the marketing teams followed by a team of employees that provide sales services and marketing services. The IT department will handle all communication aspects of the company. The company will have communication gadgets used by the guards to communicate with the head office. The team will have a response team that will gather information from the field and communicate to the respective offices in operations. The operational teams will provide the collection of information point with field employees and those in the premise. The head of this team need to have experience in the provision of security services, preferably a person that has served under the police or army or intelligence units for effective running of the operations of SecureIt. The operations teams will deal with deployment of guards, their management and survey services on the places they are deployed. The operations department also will cover the human resource functions of the organization dealing with hiring, evaluation and firing of guards and other personnel. Section Six: Operational Issues: For effective operations with proper management of the operational costs, the company will rent already developed premises for the beginning years. The target is to lease a property that has ample space to provide for the training needs and office needs of the company. The details of the rent charges are broken down in the financials developed in the financial projections section. Other initial costs will include the installation of different IT hardware and software that will allow for effective communication and record keeping in the business. The hardware will include computers and serves that will link all communication gadgets of the guards to ease communication in operations. Section seven: Financial Projections: Estimates of startup costs: The start p costs will include a renting fee, cost of equipments among others. The startup costs will majorly involve those needed for buying equipments and motor vehicles for patrols and dropping and picking guards from their stations. These will appear as below: Item Cost Cost of Equipment 300000 Rent for the year 40000 Goodwill 150000 Motor vehicles 550000 Total Initial costs 1040000 Projected Income Statement: The projected income statement will provide for the initial targeted incomes that the company will make. It will include the salaries of the employees with a starting point of over 20 clients already encountered. The company plans to start with 20 clients who will each on average require 16 guards with four at the entrances and four patrolling. Based on the nature of our company and the legislative needs of the country, the guards will be unarmed with the company charging the clients $15 per hour for each guard. An estimate of sales will provide the following: Sales Estimates Detail Number cost total/hr 8hrs daily Annually security guards 160 15 2400 19200 7008000 Consultancy services 2 500 1000 2000 730000 Private investigation 10 40 400 2000 730000 Total revenue         8468000 An estimate of costs of sales will follow as below: Cost of sales Details Number Cost Total/hr 8hrs daily Annual cost Security Guards 160 10 1600 12800 4672000 Consultancy costs 1 200 200 400 146000 Private Investigators 6 30 180 900 328500 Total cost of sales         5146500 These include the payments to each guard that will cover cost per hour of $10 each working for a maximum of 8 hours per day. The company will only have one consultant that is among the partners. This will earn $200 per hour each serving a maximum of 2 sessions per day. The private investigators team will hold 6 members with each obtaining $30 per hour. Other staff remunerations will fall under the following: Employee salaries per month Department Administration Marketing IT Operations Top management Total/month number of employees 3 4 2 6 2   Average pay per employee 1500 1100 1500 1100 2000   Total 4500 4400 3000 6600 4000 22500 The income statement for the first year of operation will appear as below: Projected Income Statement   Year 1 Net Sales 8468000 Cost of sales 5146500 Gross profit 3321500 Less other expenses   Rent 40000 Electricity 3000 Salaries 270000 Printing and stationary 2500 sales and marketing and other expenses 50000 Utilities 2000 Insurance 6000 Other 15000 Total Expenses 388500 Profit Before Interest and Tax 2933000 Interest expenses 25000 Profit before Tax 2908000 Taxes Incurred 930560 Net profit 1977440     Projected Balance sheet: Projected Balance Sheet   Year 1 Assets   Current assets   Cash at Bank 2200000 Debtors 400000 total current assets 2600000 Long term assets   Equipments 300000 Motor vehicles 600000 Total long term assets 900000 total assets 3500000 liabilities and capitals   Capitals 3500000     Work cited: Griffin, Joel. Private Contract Security Services to See Steady Global Demand. Security Info Watch Feb, 2013. Viewed on May 07, 2015 from http://www.securityinfowatch.com/article/10862533/freedonia-group-report-forecasts-global-demand-for-contract-security-services-to-reach-244b-in-2016 Read More
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