The rising cases of insecurity have seen the bodyguard services industry boom with a growing CAGR for the forecast period up to 2026.
Bodyguard services have become essential with the growing crime rates due to the economic stress and high standards of living. The surge in criminal activities has made it apparent for this industry to thrive and become an important factor.
Bodyguard services are offered to public figures, VIP individuals, or affluent members of society. High-profile individuals also benefit from these services, bumping the need for professional bodyguard services worldwide. Therefore, the field is used by individuals in the public administration, trade and business, lifestyle, and transportation markets.
Various factors have facilitated the growth of bodyguard services:
- High celebrity status
An increase in high celebrity individuals has seen the need for bodyguard services skyrocket. Individuals are becoming famous owing to a wider social media reach all over the world. This has seen more individuals becoming sensational stars in need of protection, thus seeking bodyguard services.
- Enemy and terrorist attacks
The presence of crime rates and enemy attacks from different landscapes be it political, social, or economic has made individuals opt for private bodyguard services.
- Increased threats
Celebrities and high-profile individuals are facing more threats today than at any other time. Increased threats in personal and professional capacities have prompted the need for bodyguard services.
- Consumer spending
The rise in consumer spending has seen several individuals seek bodyguard services for personal security services, and marvel at the thought of having their private security.
- Event coverage
High-risk events and event management require bodyguard services that will ensure a seamless program. This makes it easy for the organization to handle security concerns by getting professionals to handle everything.
Bodyguard services can be either commercial or personal. Commercial bodyguard services are those offered to organizations to provide security to high-profile employees such as CEOs, government dignitaries, and the like.
A bodyguard’s work mainly comprises of background work, where they will assess the security concerns before the event or appearance of the client. This entails doing a background check of the location that the client is headed to or will be to establish safe travel routes and emergency exit strategies.
Bodyguards will also conduct proper vetting of any guests and individuals that are present in the location, to ensure that they do not pose a threat and danger to their clients. This consists of assessing those who have a conflict of interest, and conduct vehicle and venue security checkpoints, which can ultimately affect the safety of the client
However, what does it take for organizations to run a fully functional bodyguard service?
Starting a bodyguard service
To start a professional bodyguard service, the first plan is to plan the business to have a clear picture of the entire business. For instance, the business plan will identify the intended target market, the cost for starting up the business and running it successfully. Finding the right name, location, and operation strategy for the business is also ideal.
The costs of running the business take into consideration the office location, technological equipment needed, training costs, and the necessary permits needed. The business needed visibility to the public through distinct advertising strategies that target the intended market.
It is best to ensure that the technological equipment and training costs are dependent on the size of the business, and the number of staff needed to start. Compromising technological equipment can be hard as the business needed the best equipment to offer premium professional services to clients.
The business plan will also come up with operational protocols on how to charge the customers. For instance, will the costs to the client be short-term, event-based, or long-term? The cost of personal bodyguard services can cost anywhere between $600 to $1500 depending on the client profile and needs. Services required when traveling cost more bumping up the price to up $3000 per client.
Attracting customers when running a bodyguard service can be done by offering customers the best in the industry, and adding extra services that complement the package they have chosen. For instance, extra surveillance systems or guard dogs. Offering customized security packages also attract customers as they can add or subtract services that they feel they require.
Checking the right business name by searching the right domain name is essential in requesting the different businesses structures that protect the company against being sued. Checking the right licenses and permits also enables the company to register for taxes before starting operations.
The bodyguards should have the recommended licenses needed, the necessary firearms and permits, physical fitness standards, and have a valid driving license. A strong sense of responsibility, intuition, and intelligence are needed to be functional in a security situation. Excellent communication skills are also vital as they come in handy in life-threatening situations.
Various responsibilities come with bodyguard services:
- Risk assessment
Bodyguard services aim in assessing potential risk situations and finding ways on how to handle mitigate them. This ensures that potential dangers are handled before they happen, ensuring the overall safety of the clients.
- Code of ethics
Bodyguard services are governed by a strict code of ethics which ensures that their employees are discreet, functional, and dedicated to providing the absolute best services to their clients. This code of ethics binds them towards their goal and professional capacity and makes them able to conduct security measures when need be.
- Highly skilled professionals
High-level training and a foolproof background on security and personnel matters are a necessity in bodyguard services. This makes the staff knowledgeable on all the necessary protocols and happenings of their intended job.
The advancing and modern technological era is seeing various modifications and specialties in the industry, making the progress of security more efficient than ever. The combination of old and new technologies has made companies have access to online information that makes it easier to investigate.
Technological advancements have also made it possible to run professional bodyguard services remotely through live online integration.