Looking for how much does it cost to start a security company in Nigeria? Before knowing how to Start a Private Security Company in Nigeria and the cost of private security in Nigeria, first you need to meet the private security company registration requirements then once you have been granted the license to operate, you will be among the private security companies in Nigeria. On this article you will be get to see the list of registered private security companies in Nigeria and as well know get solution to how lucrative is security business in Nigeria questions that you have been asking.
A private security firm is an organization that is dedicated to the protection of people and property. Private and public clients can obtain armed and unarmed security services from the company, which operates as a commercial enterprise.
Basic security services include the prevention of unauthorized/illegal activity or entry, access control, fire and theft prevention, and a variety of other services as requested by customers.
Individuals and organizations are increasingly turning to private security businesses as a result of the growing number of security difficulties they face today, particularly in light of the fact that government security agencies have failed to keep pace with the times.
In addition to being proactive, they employ technologically advanced equipment such as closed-circuit television (CCTV) to monitor day-to-day events on their clients’ facilities. They also provide guard and patrol services, such as bodyguards, automobile parking, and security guard services, among other things.
A Private Security Company in Nigeria may be something you are interested in starting. Everything you need to know to start and run a successful security company is contained within this article.
Read carefully below to see how to Start a Private Security Company in Nigeria now.
What Private Security Company in Nigeria is All About
The use of various types of protective measures to protect people and property is referred to as security measures. Both the government and commercial companies can provide this service. Private security companies protect individuals, events, and organizations while the government is responsible for ensuring the safety of all Nigerians and making the country livable for everyone.
Security companies operate in a variety of sectors and provide services to a diverse spectrum of clients, ranging from businesses to events to residences and communities, among other things. They strive to keep their clients safe from fire, theft, vandalism, and terrorism, as well as to deter and prevent other illegal and criminal actions from occurring.
As a result of their efforts, they are able to supplement the security services given by the Nigerian police, Department of State Security (DSS), Nigerian Civil Defence Corps (NSCDC), and other government security agencies in Nigeria.
Individuals with high net worth, politicians, religious leaders, and organizations can benefit from their services which can be personalized to their needs.
Let’s have a look at the procedures that must be followed in order to establish a private security company in Nigeria.
How to Start a Private Security Company in Nigeria: A Step-by-Step Guide
The steps I’ve outlined in this article will help you start and grow a private security firm in Nigeria, as well as how to be successful in the business.
· Step 1: Construct a Business Strategy
When starting a business, the first step is to write down the goals and objectives of your venture in a business plan. This stage will provide you with valuable insight into the operations of a business.
A business plan is similar to a road map for any type of enterprise. It include conducting due diligence on the target market, competition, price, and financial aspects of the business. Additionally, a business plan will assist you in gaining access to investors for financial support as well as obtaining loans from financial institutions.
It is possible to change your business plan on a regular basis as you progress through the stages of running your company.
· Step 2: Obtain Your Certification
A normal private security firm demands that the business be registered, that you have insurance, and that you have all of the necessary permissions. It’s not the type of business that you want to dabble in; instead, you want to be certain that both you and the company are protected legally.
You must first register your Private Security Company in Nigeria as a limited liability company with the appropriate share capital, as set down by the government, in order to get started. The Corporate Affairs Commission is in charge of registering new business ventures. To do this task, you may either do it yourself or use the services of ReDahlia to assist you with the process. Registration with the CAC is the first registration that must be completed before any other registrations can be processed.
In the second step, you must apply for a license with the Nigerian Security and Civil Defence Corps (NSCDC). The Nigerian Security and Civil Defense Commission (NSCDC) is in charge of licensing, overseeing, and regulating every private security company in the country. This is in accordance with the Nigerian Security and Civil Defence Corps Act No. 2 of 2003, as amended by the Amendment Act of 2007, and the Nigerian Security and Civil Defence Corps Regulations of 2007.
If you want to become a member of the NSCDC, you must first visit their official website to verify the documents required and begin the registration procedure.
The following are some of the documents you will need to register with the NSCDC before starting out your Private Security Company in Nigeria:
- Accounts Receivable and Payable
- Attestation letter (Letter of Attestation)
- a letter from a legal professional
- Salary system that has been proposed
- Tax Clearance Certificate (also known as a tax clearance certificate)
- Photocopies of the organization’s certificates of incorporation
- Training program that has been proposed
- Salary and compensation structure
- CAC issued a certificate of incorporation to the company.
- The company’s memorandum and articles of association are available online.
- The sum of N500,000 has been paid.
- Bankers’ letter of recommendation
- Directors’ personal reference letter, among other things
· Step 3: Obtain the Required Training
As a Private Security Company in Nigeria, the technical competence and efficiency of the security people used by a security company have a significant impact on the overall quality of the service provided. This type of business is not a product-based firm, but rather a service-based business. As a result, the quality of service you provide is dependent on the staff you engage. Their actions will influence how long and how far the company will be able to survive.
Therefore, you must develop an effective training approach for your employees. You can either organize your own training sessions or attend ones that are organized by the government.
By taking part in security training, you will gain a fundamental understanding of how to safeguard clients and deal with security objects such as pistols, batons, and other similar items. In addition, you will master self-defense techniques as well as other business concepts that are relevant to the industry.
To make matters worse, you can hire skilled, certified, and licensed security consultants or security management businesses to plan specialized training for your employees. Because they are professionals, they will be able to educate you on the various cutting-edge technological devices that you require. With addition, they will assist you in structuring your organization by offering standard documents, forms, rules, procedures, manuals, and other resources, such as templates.
It is recommended that you work for at least six months with a typical security company before launching your own business venture. Consequently, you will obtain first-hand knowledge of the operations of the company.
· Step 4: Carve Out a Specialization
Private security firms provide a wide range of services. During your investigation, you will discover the sector of the firm that has the most potential. Your vision and enthusiasm should also guide you in the selection of a specialty. Additionally, you can begin with one region and gradually extend into other segments as your company expands.
The numerous niches from which you might choose are as follows:
- Security in the Workplace
- Security for Special Occasions
- Patrol Services are provided by the Department of Public Safety.
- Security for Motor Vehicles
- A Private Investigator is a person who conducts investigations for a fee.
- Experts in Forensic Science
- Bodyguard Services are available.
- Center for Video Surveillance and Monitoring
- Family Safety is important.
- Operator of a closed-circuit television system
- Supervisors at the front door (Bouncer)
- Bodyguards are individuals who protect others.
- Operatives in the traffic flow.
All of the services are dependent on the amount of capital you have and the size of your business.
· Step 5: Decide on a location.
In order for a Private Security Company in Nigeria to be easily accessible to both clients and employees, it must be strategically positioned. An administrative location is a physical location where administrative tasks are carried out. As a result, your office must be accessible at all times in the case of signing new contracts with clients, conducting interviews, or recruiting new employees, as this is one of the most effective ways to appear legitimate.
More importantly, you must have a website in order to have access to a global market. As your business expands, you can open branches in other large cities and towns where you conduct business.
· Step 6: Find a job.
A security company cannot be handled solely by one person.. You must hire and train personnel who are physically, mentally, and spiritually healthy in order to succeed. In the private security industry, this type of staff is referred to as Security Guards. Because of the sensitivity of the business, they must not have a criminal record and must be of legal age in the event that they are need to carry firearms on the job.
Using the services of an HR business or conducting the hiring process on your own are both viable options. Before hiring somebody, you must first verify their reliability by doing background checks on them and their family members. Keep in mind that they are the public face of your company.
After hiring, train them and make sure they are properly equipped for the job. Compensation should be in line with industry standards, since this will help to enhance their morale and enable them to do their jobs more effectively.
· Step 7: Obtain the Required Equipment
The type of equipment you will purchase will be determined by your niche. However, the fundamental requirements for any security organization are as follows:
A walkie talkie will be used to communicate with other security officers in the vicinity of the incident site. In addition to walkie talkies, you can use a mobile phone, microphones, earpieces, and other similar devices.
At the event of visitors, an accident, or theft, a notepad and a pen should be kept in the office to document activities relating to the office.
Using a portable digital camera to film activity in the absence of a closed-circuit television system can be a useful alternative.
Tool Belt: This will allow the cop to store everything so that his or her hands are free and he or she can operate quickly.
Guns, digital display systems, vehicle tracking, CCTV surveillance, guard dogs, a baton, pepper spray, hand gloves, tear gas, and other similar items are also available for purchase.
· Step 8: Creating a Brand
Branding is critical for any security organization, whether in Nigeria or anywhere else in the world, and it should extend across all aspects of the business. Everything, from the name of the company to the logo, social media accounts, uniform, and color scheme, must communicate a message to the public. For example, your brand name should be straightforward, short, and distinct, but it should express your company’s service and appeal to the general public as well.
As stated in the NSCDC guidelines, the uniform of a private security firm must be distinct and original in design, and it must not bore any resemblance to the uniform of the armed forces or the uniform of any other security company already in operation.
As a result, your uniform should be distinctive and professional in appearance. The guards should be outfitted with a set of boots, unique shirts and pants, a face cap, and so on.
· Step 9: Obtain Complete Coverage Insurance
Because it includes people’s lives and property, running a security company is an extremely delicate industry to be in. As a result, it is critical to obtain a comprehensive insurance policy in order to avoid the financial burden of an accident or the impact of an unexpected loss. Commercial general liability insurance should cover things like personal and bodily injuries, fire damage, legal liability, medical liabilities, and so on.
· Step 10: Communicate With Your Clients
Due to the large number of private security businesses operating in the market, obtaining new clients might be difficult in the security industry. As a result, you must establish credibility in all areas of your life, particularly in your professional life.
It is necessary to raise awareness of your brand through a variety of methods. Begin by generating eye-catching fliers, business cards, social media pages, and other marketing materials.
You should also spend money on advertising on billboards, television, and in newspapers. They will go a long way toward increasing public knowledge of your company’s brand. Moreover, don’t overlook word of mouth; tell your family and friends about your company and encourage them to tell their friends and family members about it as well.
Continue to improve your service and put in place processes to guarantee that everything is running as smoothly as possible.
This is how far we can go on how to Start a Private Security Company in Nigeria. By following all of the steps outlined in this article, you will be able to establish a profitable security company. In the words of Florence Chikezie, “There is no guaranteed success manual in business.” Success, on the other hand, can be achieved by dedication and perseverance. Someone lied if they told you something different”. As a result, put up your best effort and remain focused on your goal.
Do you have a strong desire to protect people and property and are you thinking about launching a security service company? Let us know what you think in the comments section. Additionally, if you require assistance with your business, we are only a phone call away.