Private security services are in demand in Canada and other places around the world, with rising levels of crime and threat of terrorism. Security guards help protect customers against arson, burglary, robbery, battery, assault, solicitation, and other forms of crime. If you plan to start a security business in Canada, you will need to check whether you need permits and certifications to operate on the territory of your province or territory. You will also need equipment, financing, and a good business plan to apply for a loan unless you plan to self-finance your start-up.
Permits and Certifications
The types of permits and licenses required depend on the services offered. If you want to contract for the Canadian government, for example, then you have to employ security officers who have a valid driver’s license, birth certificate, passport, or another form of identification. To qualify, it is best to choose persons of trust. Even if you do not plan on contracting for the government, your security guards must be permanent residents or Canadian citizens who have a security guard license and clean criminal record. Training courses are offered in private and public colleges and public universities. Courses cover a number of topics, including use of force, effective communication, legal authorities, the legal system, report writing, security procedures, and many others. If you plan on offering private investigation services, the list of covered topics also includes ethical reasoning, investigative techniques, civil and criminal law, federal and provincial legislation and statutes.
You will need gear and equipment such as defense equipment, two-way radios, flashlights, high-visibility clothing /uniforms/, bullet-proof vests, pepper sprays, security guard batons, first aid kits.
The next step is to come up with a sound business plan for your security business. List your mission and objectives, for example, protecting customers at events, conferences, and festivals and in facilities, buildings, and office buildings. Mention the forms of crime your officers have experience with, including embezzlement, abduction, robbery, hate crime, antisocial behavior, burglary, etc. Other sections and details to cover in your business plan include your start-up expenses and requirements, business and market analysis, and services offered. List the services offered, for example, investigative services, office building and retail security, industrial and manufacturing security, and special events and campus grounds security. Other services include security officer and firearm training, emergency management, pre-employment screening, and personal protection services. The list of security guard services also includes transportation security, regulatory compliance, security consultations, and unarmed and armed guards.
Sources of Financing for Your Security Business
The main sources of financing for your start-up are private loan providers, self-financing, credit (https://www.creditavenue.ca/guaranteed-easy-to-get-credit-cards-with-instant-approval-in-canada/), and government loans and grants. Other forms of financing include wage subsidies, venture capital, tax credits, etc. Businesses based in Quebec, for example, are free to apply for a repayable contribution and cover the cost of marketing, technology, productivity, starting a business, etc. A business loan under the Canada Small Business Financing Program is a second option to consider if you plan to make capital purchases. Loans for young entrepreneurs are also available under the Futurpreneur Canada Start-Up Program. Funding is offered to start-up businesses in the amount of up to $15,000. Applicants are asked to provide supporting documents, including their cashflow and a comprehensive business plan. A loan by a credit union, caisses populaire, or bank is another option to look into, and many financial institutions offer loans with floating and fixed rates. Other options include business and operating lines of credit, business credit cards (https://www.creditavenue.ca/canadas-top-ten-secured-credit-cards/ ), commercial mortgages, microcredit, and commercial term loans. You may want to check with business incubators as well. Thanks to our sponsor: https://www.creditavenue.ca/