Pros:
– High Demand: The demand for security services is growing, especially in urban centers and areas with high crime rates.
– Flexible Hours: Security guard companies can provide services during both day and night shifts.
– Potential for Growth: As the security industry continues to expand, there is potential for growth for those who are successful in running a security guard company.
– Recession Proof: Even during a recession, security services continue to be necessary.
Cons:
– Financial Risk: Starting a business is never without financial risks and the same holds true for starting a security guard company.
– Regulatory Compliance: Security companies must adhere to stricter regulations than other types of businesses. This can add costs and complexity to running the business.
– Liability: The security industry is exposed to a variety of liabilities due to the nature of the work and the associated risks.
– Employee Retention: Security guard companies must be able to attract and retain qualified personnel in order to be successful. This can be difficult as there is high turnover in this industry.