What Keeps Security Business Owners Up At Night? Featuring LOUD Security
This month I am talking with my long-time friend and fellow ESA volunteer, John Loud, founder and President of LOUD Security Systems based in Kennesaw, GA. LOUD Security Systems has been in business since 1995 and serves the Atlanta area where they offer installation and monitoring services to both the commercial and residential industry segments.
What Keeps Security Business Owners Up At Night? Part 1
Running a business is often a rewarding endeavor, but it also comes with its own set of challenges and stressors which often lead to sleepless nights. This can be especially true for the security business owners who either work or keep themselves available twenty-four hours a day, seven days a week.
Decoding The Value In Your Security Business – Part 2
Every business owner should have a general idea of the worth of their own business as it is good practice to keep the pulse of what is transacting in our industry. Fortunately, our data shows that over the past two years, businesses that sold based on their EBITDA (Earnings Before Interest Taxes Depreciation and Amortization) value generally transacted in the 4X-9X multiple range. What do those numbers mean for you? Should the data set your expectations?
Well, it depends…
Decoding The Value In Your Security Business – Part 1
The IRS loosely defines fair market value as the price at which a business would change hands between a willing buyer and a willing seller when the former is not under any compulsion to buy and the latter is not under any compulsion to sell; both parties having reasonable knowledge of relevant facts.
The Vital Role of Building Your Team When Buying or Selling a Security Business
In the fast pace of security business transactions, ensuring you have a team of experts as advisors cannot be overstated. Whether you are buying or selling a business, navigating the acquisition process requires specialized knowledge and experience. A team of experts brings together diverse skills and insights, ensuring that a transaction is not only successful but also maximizes value and minimizes risks.
Is the Timing Right to Sell My Business?
If you look around any industry convention, conference, meeting, etc. You will notice a lot of the business owners may look… well, familiar. Many started their security businesses in the 1970’s and 1980’s when the security industry services expanded to include not only physical security but also electronic surveillance and alarm systems. Many of these familiar faces have had great careers operating a successful security business. As it is in any industry, however, the “baby boomers” are looking for their day in the sun and are increasingly looking to sell their businesses.
SentryNet?s 23rd SentryCon Annual Dealer Conference
SentryCon, SentryNet?s annual dealer conference held in Biloxi, MS, was held April 23-26th with over 225 security industry professionals in attendance. The main focuses for this year?s conference included how to deal with current challenges facing the security industry and how to increase business and Recurring Monthly Revenue (RMR). In addition to education, the SentryCon tradeshow gave dealers a chance to be face-to-face with the industry?s best product and services providers. Hikvision, SentryCon?s Platinum sponsor, shared the newest in camera systems.
Sentrynet Will Focus On Industry Change At SentryCon 2018
SentryNet?s 23rd annual dealer conference, SentryCon, will be in April and will focus on ?The Challenge of Change? and how it affects independent alarm installers. Special Guest speakers like Mark Brown of Southwestern Consulting will bring to light what can be done to overcome those challenges. In the face of disruptive technologies and shifting powers to the consumer, changing how you do business is essential to staying in the game.