In this day and age, integration companies present tremendous opportunities for business owners. Providing a wide variety of services and offerings to their clients, these multifunction companies can be immensely profitable and are paving the way towards the future of the alarm security industry.
Encompassing automation systems, internet technology, innovative security features, monitoring systems and more, integration companies consistently have room for growth. Security integration companies managed by owners who are open-minded with an eye on the horizon are poised for ongoing success in years to come.
Whether you’re just starting out as an integration company owner or you’re looking to expand your offerings and integrate new systems, technologies, and features into your existing alarm security company, there are a few key things to keep in mind if you’re looking to build profitability.
How to Grow a Profitable Security Integration Company
In order to succeed with a security integration company in today’s market, you’ll need to implement a few key strategies.
1. Adapt to New Technologies and Offerings
Integration companies are finding success in the current climate because they are adapting to suit what customers are craving. They offer a variety of products and services that are evolving to meet the ever-changing needs of the consumers they serve.
In order to continue growing as a security integration company, it’s important to remain open to new ideas and to be receptive when it comes to offering new technologies. Don’t shy away from new products, systems or services just because they don’t quite align with how things were done in the past.
Success in this industry comes to those who are willing to take on new challenges and adapt to new ideas.
It’s almost always a good idea to have your eggs in more than one basket, and that’s the case when it comes to integration companies as well. Delving into new service areas can help you to diversify your business and tap into profitability that you otherwise may have missed out on.
For example, fire integration can be a challenge for organizations who have been strictly focused on security – but diversifying to incorporate fire can pay off in a big way for those who are able to do it. (You can learn more about the advantages of fire integration here.) Managing residential security may be your wheelhouse, but if you broaden your business’ horizon and take on some commercial clients as well, you may be able to grow your recurring monthly revenue and ultimately augment the success of your integration company overall.
Pursuing opportunities to diversify can be an effective way to continue building a profitable integration company. Thinking about diversifying by acquiring another alarm business? Be sure to check out our suggestions regarding characteristics to look for in an alarm business that you intend to buy.
3. Hire the Right People
With new offerings and technologies comes the need for staff members who can handle technological issues and have experience with the new systems and programs your integration company is utilizing. Be prepared to do some hiring as you’re expanding your offerings and growing your integration company.
Finding the right people to keep your company afloat and successful amidst the constant changes going on in the industry may involve widening your search. Chances are you’ll need people with IT knowledge as well as experienced salespeople, customer service providers, and technicians to keep your business moving forward and keep your customers satisfied with the services they are receiving.
4. Never Stop Educating
Education is an investment – but it’s a worthwhile one, especially if you’re looking to help your security integration company excel.
As your business is adopting new technologies and adding new offerings to its repertoire, be sure that you’re continually educating both your employees and your clients.
You want your employees to be knowledgeable, whether they’re responsible for selling the products and services, providing technical support, or implementing system components behind the scenes.
And your clients and customers should be kept up to date in terms of what you’re offering them and educated on the value and importance of their continued investment in your company. This can help to combat attrition and keep your company ahead of the game as you continue to grow.
5. Look for Opportunities in the Right Places
Interested in expanding your portfolio or adding services to grow your integration business? If so, be sure to carefully consider who may be in the market for the products and services you provide.
While security integration is a stable industry, it’s also a complex one that combines myriad services – which means you may be targeting a broad audience ranging from facility managers and architects to other security and life safety companies.
If you’re looking to grow your company in a way that’s maximally beneficial and profitable, be sure you’re expanding in the direction that suits your organization best. Keep an eye out for opportunities in the right places, and don’t be tempted by an offer that’s not a good fit.
Keep Your Integration Company Moving in the Right Direction
Multifunction security alarm companies have a lot to offer their customers – and they are a profitable endeavor for alarm business owners as well.
Looking to expand your alarm business and continue the pattern of growth you’ve started? AFS is here to help you do so. We take pride in connecting qualified buyers with integration company sellers to facilitate profitable transactions that benefit everyone involved. Learn more about expanding your alarm business with the help of AFS here.
Interested in selling your integration company to a well-qualified buyer who will keep it moving on a path toward continued success? You can learn more about how we can help to facilitate security integration company sales here.