How to Start a Bodyguard Business

A bodyguard business is a company or agency that provides professional personal security services to individuals or groups who require protection.

The primary purpose of a bodyguard is to ensure the safety and well-being of their clients, often referred to as “principals.” These clients may include high-profile individuals, celebrities, executives, politicians, diplomats, wealthy individuals, or anyone who faces potential threats or risks to their safety.

Bodyguard businesses typically employ trained and experienced professionals, often with backgrounds in law enforcement, military, or private security. The selection process for bodyguards involves thorough background checks, rigorous training, and sometimes specialized certifications.

Steps on How to Start a Bodyguard Business

1. Conduct Market Research

Conducting market research is essential for a bodyguard business so that it can understand the target market, identify potential clients, and develop effective marketing strategies.

First, determine the specific types of clients you aim to serve. This could include high-net-worth individuals, celebrities, corporate executives, diplomats, politicians, or any other segment that requires personal security services. Research other bodyguard businesses in your region or the area you plan to operate.

Identify their strengths, weaknesses, pricing strategies, and the services they offer. This will help you position your business competitively.

Analyze the demand for personal security services in your target market. Look for statistics, trends, and news articles that highlight security concerns or incidents in the area. Create surveys or conduct interviews with potential clients to gather insights into their security needs and preferences.

Ask about their past experiences with security services and what they look for in a bodyguard. Research the legal and licensing requirements for operating a bodyguard business in your region. Ensure that you comply with all necessary regulations and obtain any required licenses.

a. Who is the Target Market for a Bodyguard Business?

• Wealthy individuals and their families
• Actors, musicians, athletes, and other public figures
• Business leaders, CEOs, and top-level executives who may face security risks due to their high-profile positions.
• Elected officials, government leaders, and diplomats who require protection during public engagements and political events.
• Individuals visiting a particular location or event who require security services.
• Musicians, bands, and touring entertainers
• Companies hosting large-scale events, conferences, or high-profile meetings
• Individuals facing specific threats, such as stalking or harassment

b. Is the Bodyguard Business a Profitable Business?

Yes, bodyguard businesses can be highly profitable. While a bodyguard business can be profitable, the success of the business will depend on factors such as market conditions, competition, your ability to differentiate yourself, and your business acumen.

c. Are There Existing Niches in the Industry?

Yes, there are niche ideas when it comes to the bodyguard business and some of them are:

• Family Security Services
• Executive Protection for Female Clients
• Celebrity Privacy and Paparazzi Management
• Secure Transport and Travel Security
• Event Security Services
• Security Consulting and Risk Assessment
• Stalking and Harassment Protection
• Cybersecurity for High-Profile Clients
• International Security Services
• Child Protection Services
• VIP Security for Athletes and Sports Personalities.

d. Who are the Major Competitors?

• Gavin de Becker & Associates
• Pinkerton
• AS Solution North America
• Blackwater Worldwide (now known as Academi)
• Triple Canopy
• Executive Protection Institute
• Talon Executive Services
• International Protective Service Agency
• Praetorian Protective Services
• Eagle Eye International Protective Services
• Premier Risk Solutions
• Global Guardian
• GuardMe Security
• Insite Security
• Aegis Protective Services
• Global Security Services
• International Security
• Unity One Inc.
• Professional Bodyguard Services
• Westminster Security.

e. Are There County or State Regulations or Zoning Laws for Bodyguard Businesses?

Yes, there can be county or state regulations and zoning laws that apply to bodyguard businesses in the United States. However, the specific regulations and requirements can vary significantly depending on the state and local jurisdiction where the business is located.

In many states, security personnel, including bodyguards, may need to be licensed to provide security services. These licenses may have specific training and background check requirements. Bodyguard businesses may be required to have certain types of insurance coverage, such as general liability insurance or professional liability insurance.

If bodyguards carry firearms as part of their duties, they must adhere to federal, state, and local laws regarding the possession and use of firearms. Some states may require background checks for security personnel to ensure that individuals with criminal histories are not involved in providing security services.

f. Is There a Franchise for Bodyguard Business?

No, bodyguard businesses are not typically offered as franchise opportunities.

g. What Do You Need to Start a Bodyguard Business?

• Business plan
• Legal structure
• Licenses and permits
• Standard office facility in a suitable location
• Employees
• Marketing and advertising plans
• Equipment and tools

2. Choose a Memorable Business Name

When looking to start a business, before you can begin to file the necessary documents with the constituted authorities or start your website, it is necessary that you come up with a name that you will be recognized with. It is essential that the name you come up with can easily be pronounced, is unique and easily memorable. Some of the catchy business name ideas suitable for a bodyguard business are;

Creative Bodyguard Business Name ideas

• Donald Price® Bodyguard Services, Inc.
• Ralph Lawrance® Bodyguard Services, Inc.
• Primus Prime™ Bodyguard Services, LLC
• John and Johnson® Bodyguard Services, Inc.
• Eagles Eyes® Bodyguard Services, Inc.
• Safe Net® Bodyguard Services, LLC
• Paragon Network® Bodyguard Services, Inc.
• Emmanuel Banjo© Bodyguard Services, Inc.
• Lewis Mavericks® Bodyguard Services, Inc.
• Elite Team® Bodyguard Services, LLC
• Adriel Williams™ Bodyguard Services, Inc.
• Pro Security® Bodyguard Services, Inc.
• Field Pathfinders® Bodyguard Services, Inc.
• Adams Samuel® Bodyguard Services, Inc.
• Victor James™ Bodyguard Services, Inc.
• Lionel Acuna™ Bodyguard Services, LLC
• Swift Team® Bodyguard Services, LLC
• Pelican Group® Bodyguard Services, Inc.
• Danielson Augustine® Bodyguard Services, Inc.
• Fischer Ribbon™ Bodyguard Services, Inc.

3. Register Your Business

a. What Type of Business Structure is Best for Bodyguard Business?

The best type of business structure for a bodyguard business depends on several factors, including the size of the business, the number of owners, and the level of personal liability exposure the owners are willing to accept.

However, we usually recommend a limited liability company (LLC) for the bodyguard business. An LLC is a popular choice for startup businesses because it offers personal liability protection for the owners while allowing them to be taxed as a pass-through entity.

This means that the profits and losses of the business are passed through to the owners’ personal tax returns, avoiding double taxation.

b. Steps to Form an LLC

• Choose a Name for Your LLC.
• File Articles of Organization.
• Choose a registered agent.
• Decide on member vs. manager management.
• Create an LLC operating agreement.
• Comply with other tax and regulatory requirements.
• File annual reports.

c. What Type of License is Needed to Open a Bodyguard Business?

• Business License
• Security Agency License
• Security Officer License
• Firearms License (if carrying firearms as part of services)
• Private Investigator License (if offering investigative services)
• Concealed Carry License (if carrying firearms)
• Alarm System Installer License (if providing electronic security services).

d. What Type of Certification is Needed to Open a Bodyguard Business?

• Personal Protection Specialist Certification
• Security Officer Certification
• Firearms Training Certification
• First Aid and CPR Certification
• Defensive Tactics Training Certification
• Security Consultant Certification.

e. What Documents are Needed to Open a Bodyguard Business?

• Business plan
• Business License
• Fictitious name registration
• Employer Identification Number (EIN)
• State-specific licenses and permits
• Building permit
• Fire safety license and permit
• Professional licenses and certification
• Zonal permit
• Insurance policies

f. Do You Need a Trademark, Copyright, or Patent?

Whether you need a trademark, copyright, or patent for your bodyguard business will depend on the specific intellectual property you want to protect. If you want to protect your business name, logo, or other branding materials, you may want to consider registering a trademark with the US Patent and Trademark Office (USPTO).

If you create original content for your bodyguard business, such as marketing materials or software, you may want to consider registering a copyright with the US Copyright Office.

4. Cost Analysis and Budgeting

a. How Much Does It Cost to Start a Bodyguard Business?

When it comes to starting a bodyguard business, the startup costs could range from as low as $50,000 to over $150,000. Please note that the cost of securing an office facility, equipment, furnishing, and salary of your employees are part of this cost.

b. What are the Cost Involved in Starting a Bodyguard Business?

• Business Registration Fees – $750.
• Legal expenses for obtaining licenses and permits – $1,800.
• Marketing, Branding, and Promotions – $2,000.
• Business Consultant Fee – $2,500.
• Insurance – $2,800.
• Rent/Lease – $30,000
• Operational Cost (salaries of employees, payments of bills et al) – $45,000
• Store Equipment (cash register, security, ventilation, signage) – $2,350
• Equipment, Furniture, and Supplies – $25,000
• Website: $1,200
• Opening party: $3,000
• Miscellaneous: $5,000

c. What Factors Determine the Cost of Opening a Bodyguard Business?

• The size of the bodyguard business
• The choice of location
• The required licenses and permits
• The cost of hiring and paying a business consultant and attorney
• The cost of branding, promotion, and marketing of the bodyguard business
• The cost of furnishing and equipping the bodyguard office facility
• The cost of the insurance policy covers
• The cost of registering the business
• Cost of recruiting and training your staff
• The cost of the purchase and customizing of uniforms, shoes, and caps for your employees
• The cost for the grand opening of the bodyguard business.

d. Do You Need to Build a Facility? If YES, How Much Will It Cost?

No, you do not need to build a new facility for your bodyguard business because the business can be operated from a rented or leased office facility. The place should be big enough to contain all your security and High Tech gadgets, and also proved room to contain various departments in the company like the Accounts department, receptionist office.

e. What are the Ongoing Expenses of a Bodyguard Business?

• The salaries or wages of the bodyguards and other staff members.
• Insurance
• Regular training and certifications for bodyguards
• Costs associated with purchasing and maintaining security equipment
• Expenses related to uniforms for bodyguards
• Office rent, utilities, office supplies, and other administrative costs.
• Costs related to promoting the business, such as website development, advertising campaigns, and promotional materials.
• Fees associated with obtaining and renewing business licenses, security agency licenses, and other necessary permits.
• Fees for legal advice, accounting services, and other professional assistance.
• Costs related to security software, tracking systems, and communication tools.
• If the bodyguard business provides travel security services, expenses related to travel, accommodation, and meals.

f. What is the Average Salary of your Staff?

• Chief Executive Officer – $72,000 per year
• Chief Security Officer/Manager – $65,000 per year
• Admin and HR Manager – $55,000 per year
• Marketing and Sales Executive – $43,000 per year
• Accountant – $45,000 per year
• Bodyguards – $47,000 per year
• Customer Services Executive – $32,000 per year

g. How Do You Get Funding to Start a Bodyguard Business?

• Raising money from personal savings and sale of personal stocks and properties
• Raising money from investors and business partners
• Sell shares to interested investors
• Applying for a loan from your bank/banks
• Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
• Source for soft loans from your family members and friends.

5. Write a Business Plan

a. Executive Summary

Pelican Group® Bodyguard Services, Inc. is a premium personal security and executive protection company based in Los Angeles, California. We specialize in providing comprehensive and discrete security solutions to high-profile individuals, celebrities, corporate executives, diplomats, and other clients who require top-tier personal protection services.

Pelican Group® Bodyguard Services, Inc. is founded on the principles of professionalism, integrity, and excellence in the field of personal security. With a team of highly trained and experienced bodyguards, our mission is to ensure the safety and well-being of our clients in any situation.

Our bodyguards undergo rigorous training in tactical skills, crisis management, and customer service, ensuring the highest level of protection. We prioritize the privacy and confidentiality of our clients, maintaining strict protocols in all interactions.

b. Products and Service

• Executive Protection: Our elite bodyguards provide specialized security services to protect corporate executives and high-ranking officials during business travels, meetings, and daily activities.
• Celebrity Security: We offer customized security plans to safeguard celebrities during public appearances, events, and travel.
• VIP Protection: Our dedicated bodyguards provide discreet and reliable protection to VIPs, dignitaries, and visiting guests.
• Family Security: We extend our expertise to protect high-net-worth families and their children, ensuring a safe and secure environment at all times.
• Event Security: Our skilled security personnel create a secure environment for high-profile events, conferences, and red-carpet affairs.

c. Mission Statement

At Pelican Group® Bodyguard Services, Inc., our mission is to provide unparalleled personal security and executive protection services to our esteemed clients. We are committed to safeguarding their lives, privacy, and reputation with the utmost professionalism, integrity, and discretion.

Through our highly trained and experienced team of bodyguards, we aim to create a secure environment that instills confidence and peace of mind in our clients, ensuring their safety in any situation.

Vision Statement

Our vision at Pelican Group® Bodyguard Services, Inc. is to be recognized as the premier provider of personal security and executive protection services in Los Angeles, California, and beyond. By continually evolving our expertise, embracing cutting-edge technologies, and tailoring security solutions to meet individual needs, we seek to be the trusted partner our clients turn to for their security requirements.

d. Goals and Objectives

The goals and objectives of a bodyguard business are to provide professional personal security services to individuals or groups who require protection.

e. Organizational Structure

• Chief Executive Officer
• Chief Security Officer/Manager
• Admin and HR Manager
• Marketing and Sales Executive
• Accountant
• Bodyguards
• Customer Services Executive.

Marketing Plan

a. SWOT Analysis

Strength:

• Pelican Group® Bodyguard Services, Inc. has a team of extensively trained and experienced bodyguards with expertise in tactical skills, crisis management, and customer service, ensuring the highest level of protection for clients.
• The company prioritizes the privacy and confidentiality of its clients, maintaining strict protocols to uphold their trust and safeguard sensitive information.
• Pelican Group® Bodyguard Services, Inc. provides personalized security plans that address individual client concerns effectively, enhancing customer satisfaction and loyalty.
• Based in Los Angeles, California, the company operates in a high-demand market, where there is a consistent need for personal security services due to the prominence of celebrities, executives, and high-profile individuals.

Weakness:

• As a relatively new entrant in the personal security industry, Pelican Group® Bodyguard Services, Inc. may face challenges in gaining a significant market share compared to established competitors.
• Limited financial resources might impact the ability to invest in extensive marketing campaigns or cutting-edge security technologies initially.

Opportunities:

• The increasing demand for specialized personal security services in Los Angeles presents significant growth opportunities for Pelican Group® Bodyguard Services, Inc. to expand its client base.
• By exploring additional security offerings, such as cybersecurity consulting or specialized risk assessments, the company can cater to a broader range of client needs and potentially tap into new market segments.

Threat:

• The personal security industry is competitive, with established security firms vying for similar clientele. Pelican Group® Bodyguard Services, Inc. must differentiate itself through exceptional service and unique value propositions.
• Economic downturns or fluctuations could impact the demand for personal security services, especially in high-end markets where clients may scale back on discretionary expenses.
• Changes in security licensing requirements or regulations could pose challenges and impact the company’s operations and compliance.

b. How Do Bodyguard Businesses Make Money?

Bodyguard businesses make money by providing personal security and executive protection services to their clients. They charge fees for their security services, which can vary based on the level of protection required, the number of bodyguards deployed, the duration of the assignment, and the specific needs of the client.

c. Payment Options

• Credit or Debit Card
• Electronic Payment Systems such as PayPal or Venmo
• Checks
• Bank Transfers.

d. Sales & Advertising Strategies

• Reach out directly to potential clients through personalized emails or direct mail campaigns.
• Participate in security conferences, seminars, and trade shows to network with potential clients and stay up to date on industry trends
• Showcase positive client experiences through testimonials and case studies on your website and marketing materials.
• Consider using pay-per-click (PPC) advertising platforms like Google Ads to target relevant keywords and geographic areas.
• Attend security industry events, join professional associations, and actively participate in networking activities.
• Build relationships with managers of celebrities, other security companies, and professionals who can refer clients to your services. Offer referral incentives to encourage word-of-mouth recommendation.

Financial Projection

a. How Much Should You Charge for Your Service?

To provide a general idea, bodyguard services in the U.S. may range from $50 to $200 or more per hour per bodyguard. Executive protection services for high-profile clients or those requiring specialized security measures can command higher rates. Daily rates or event rates may also be negotiated for longer assignments or specific events.

b. How Much Profit Do Bodyguard Business Owners Make a Year?

The profit made by bodyguard business owners can vary significantly depending on various factors, including the size and scale of the business, the number of clients served, the pricing structure, operating expenses, and the overall demand for personal security services in their area.

As with any business, the profit margin for a bodyguard business can fluctuate from year to year. On average, small to medium-sized bodyguard businesses might expect a profit margin of anywhere from 10% to 20%. Larger and more established security firms may have higher profit margins due to economies of scale and a broader client base.

c. What Factors Determine the Amount of Profit to Be Made?

• The capacity of the bodyguard business
• The service offerings of the bodyguard business
• The location of the bodyguard business
• The management style of the bodyguard business
• The business approach of the bodyguard business
• The advertising and marketing strategies adopted by the bodyguard business.
• The number of years the bodyguard business is in business

d. What is the Profit Margin of a Bodyguard Business?

The profit margin of a bodyguard business can vary depending on various factors, including the rates charged, the volume of clients and work, and the expenses incurred. While it is challenging to provide an exact figure, a typical profit margin for a bodyguard business can range from 10% to 20% or even higher in some cases.

e. What is the Sales Forecast?

• First Fiscal Year (FY1): $240,000
• Second Fiscal Year (FY2): $280,000
• Third Fiscal Year (FY3): $320,000

6. Set Up your Shop/Office

a. How Do You Choose a Perfect Location for Bodyguard Business?

• The demography of the location
• The demand for bodyguard services in the location
• Accessibility of the location
• The number of bodyguard firms in and around the location
• The local laws and regulations in the community/state
• Traffic, parking, and security et al

b. What State and City is Best to Open a Bodyguard Business?

• New York City, New York
• Los Angeles, California
• San Francisco, California
• Washington, DC
• Seattle, Washington
• Miami, Florida
• Chicago, Illinois
• Atlanta, Georgia
• Boston, Massachusetts
• Dallas, Texas.

c. What Equipment is Needed to Operate a Bodyguard Business?

• Two-way radios or communication headsets for quick and discreet communication between bodyguards and team members.
• Cell phones with secure communication apps for private and encrypted messaging.
• Binoculars for long-range observation and surveillance.
• Surveillance cameras and recording devices for monitoring surroundings.
• Bulletproof vests to provide bodyguards with added protection in potentially dangerous situations.
• Safety helmets and tactical gloves.
• Firearms (if allowed and properly licensed)
• Non-lethal weapons such as stun guns, pepper spray, or batons
• First Aid Kits
• GPS Tracking Devices
• Vehicles with tinted windows and secure doors to transport clients safely.
• Motorcycle escorts for motorcades or traffic management.
• Locksmith Tools
• Defensive Tools (Tactical flashlights for illumination and self-defense, and Self-defense training tools like tactical pens or kubotans).
• Personal Protection Equipment.

7. Hire Employees

You are expected to hire qualified and competent employees for your bodyguard business. As a matter of fact, there are certain aspects of the business that you cannot handle on your own even if you decide to cut costs.

The first step is to hire by placing ads for employment. Try to be as specific as you can on the qualification and experience you want and be explicit in the job description aspect. Ensure that you carry out a background check on your potential employees before you employ them into the company.

8. Launch the Business Proper

Organizing an opening party for a new bodyguard business no doubt is a fantastic idea as it will help you introduce the business to the community and create awareness about your services. But it is important to note that for a bodyguard business, you may decide not to organize a launch party especially if you are operating on a shoestring budget.

But if you have spare cash and you want to organize a proper launch for your bodyguard business, then you must make sure to invite potential clients, key stakeholders, and other members of the community who may be interested in your services.

a. What Makes a Bodyguard Business Successful?

• Being consistently reliable
• Excellent customer service and thoroughness in your security approach
• Efficient operations
• Compliance with regulations
• Hiring skilled and knowledgeable employees and providing ongoing training that will ensure you deliver high-quality services.

b. What Happens During a Typical Day at a Bodyguard Business?

• The office is open for the day’s work
• Routine staff meetings, briefing, and de-briefing
• The core duties are carried out which may include all activities to ensure the safety and well-being of their clients.
• Administrative tasks such as scheduling appointments, billing, invoicing, and managing supplies and equipment.
• The business is closed for the day.

c. What Skills and Experience Do You Need to Build a Bodyguard Business?

• Expertise in bodyguard services
• Strong Analytical Skill
• Attention to details
• Project management skills
• Excellent research and presentation skills
• Excellent customer service skills
• Organizational skills
• Interpersonal skill
• Accounting and bookkeeping skills
• Business management skills
• Experience in the security industry
• Experience in managing people
• Experience in business administration.