Pricing protection services. One company's perspective.
Assuming you need a more specialized private security firm to fill your needs. Why does it cost so much? Initially you should determine the cost based on what type of security you need. Everybody wants quality yet so many refuse to pay for the quality. It could be the lack of visibility on a Return on Investment scenario. If things go good you're just doing your job but if things go bad you didn't do your job. Let's discuss four things that increase the value of your security decision.
Insurance: In the private protection industry insurance is high liability. The good companies have million dollar policies to protect the company as well as the client. These policies are paid and renewed every year to benefit those that choose to hire the security firm selected. So would it not be expected that part of the revenue that is paid for a job help towards insurance costs.
Training: "I want my security to be big, fit, fast, EMT, trained in executive protection, trained in driving, former law enforcement, former military, spanish speaking, etc. etc." But I can only pay $XX.XX. Some firms put alot of emphasis on training their staff so that they can better serve the client. After all, isn't it better to have good, trained, quality security personnel to protect your most valuable assets.
Behind the scenes: Any good security firm is going to do their due diligence. This may include risk and threat assessments. It might include protective intelligence and research. Good and successful operations have a good plan to go with it. Alot of time can be spent making sure that the proper plan is in place rather than showing up and hoping for the best. So by paying a little extra, the security firm can make the contacts necessary, they can see the location, and the detail will run smoothly.
When peril exists: You don't pay a security firm for "if something happens." You pay them for "when something happens." Too many times we hear "there shouldn't be any issues" yet security was hired. In a hostile termination you might hear that they don't expect there to be a problem. Well if that was the case it would just be a termination. "there has never been any violence around this performer before" yet once again you want security present. Pay for the service you need.
You might be thinking, "Well I don't need any of that." In that case pay for the protection you need but if quality is needed then you will need to pay for it.
