Franchise Spotlight: Security
The rising demand for security means this is an industry offering many diverse franchise opportunities.
Police-reported crime in Canada increased by 5% in 2019, according to the Crime Severity Index. Statistics such as these led to an increase in the number of people willing to spend more money on security products and services, making the security industry a lucrative one in which to invest.
With more homes and commercial properties looking to increase spending on security, this is a profitable market for franchisees to enter. The security sector includes smart technology, security personnel (door staff, guards etc) and installation of devices such as fire alarms, cameras, sensors and gates.
Franchisees might install security products themselves or manage teams of specialists for larger jobs, such as working on warehouses and office blocks. There is the potential for repeat business and regular security check ups, so franchisees will benefit from building good relationships with consumers to take advantage of this. With technology constantly evolving, franchisees will need to consider the products and services they will provide and ensure there is scope for keeping up to date with changes and improvements to meet high customer expectations.
Canada Guards are a franchisor who offer parking enforcement, patrols and security camera monitoring for both residential and commercial properties, using technology to update and reassure clients.
Security Industry Analysis
The security sector is a growing and fast-changing market and franchisees will benefit from the ongoing support an umbrella company can offer. Consumers are less likely to take risks on new and unknown security brands which is where a franchise can provide the established name and recognition to help generate business.
Some security franchisees will be required to have experience in the industry, with some businesses expecting security agency licenses and a minimum number of years of experience working in the sector. For others, especially those franchisees who will be managing a team of installation experts, the main requirements will be a drive for success, an entrepreneurial mindset and excellent sales and customer relations skills.
An awareness of new technology and the ability to learn and adapt to changes in the industry will be vital. Franchisees will need to be up to date with changes in the digital security market to compete in this sector.