Make a fortune selling security equipment

The evolving and growing nature of crime in Africa has seen many people rely on contemporary and effective means to monitor their businesses, homes and events.

Over the years it has become apparent that man guards, the most popular response to crime in many African countries, have become inadequate, and new ways are being sought to provide a combination of electronic support to improve the effectiveness of the man guard on the technology to create solutions around different risk equations and security requirements.

Starting the business

You need to conduct market research that will tell you if there is an opportunity, threats, weakness to turn your idea into a successful business.

Write your business plan, finance your business idea, choose your business location, choose a business structure, choose your business name, register your business, and obtain federal and state tax identification clearance .

The initial capital

People also ask how much does it cost to start a security company?

Industry leaders recommend an initial investment of between $100,000 (approximately 55 million naira) and $350,000 (approximately 195 million naira). This budget covers all initial costs, plus payroll and ongoing expenses, for the first year while you work to attract paying customers.

Investment size

In sub-Saharan African countries, the size of investment in security amounts to billions of dollars. African countries are strengthening their security architecture by investing in digital technology, digital tools, technical innovation and the use of artificial intelligence, IOT and other strong agencies to train their security personnel to more efficiency and growth.

There is a growing demand in African countries for security gadgets, electronic security which explains the use of technology and electronic devices to keep lives, property and businesses safe, preventing unauthorized access authorized to restricted premises, critical assets and sensitive data. .

This is done, leveraging contemporary electronic security systems, intrusion and panic sensors and alarms, electronic access control systems, and CCTV/CCTV systems and analytics. The size of investment in security in African countries is worth more

A good example is the Nigerian market which has reacted positively to the electronic security market. In Nigeria, many private business establishments and government agencies are now investing in improving the quality of safety. A major factor contributing to these improvements is the wave of terror, kidnappings and banditry. Some basic regulations are implemented in some sensitive sectors like ISP, manufacturing and oil and gas. In fact, safety systems are also now adopted as a solid basis for quality certification.

Commercial establishments have also adopted security systems/programs as a strategic value proposition.

Sale of safety equipment

You can focus on selling safety equipment such as; CCTV surveillance systems, tracking devices, access control and other security and surveillance equipment and gadgets, among others.

Opportunities

The market for security devices in Africa is huge.

As it stands, the global electronic security system market is characterized by various factors. The United States of America is considered the largest market followed by Europe, Asia, the Middle East and Africa and is expected to be worth around $80 billion in 2020. It is predicted that there will have a huge CCTV and CCTV demand and critical need. to restrict unauthorized access due to growing global insecurity which is considered borderless.

The African market is still moving towards a one-dimensional strategy, which is why the market is not growing at an appreciable rate. After South Africa, Nigeria is the second largest market for video surveillance systems in the sub-Saharan region and is expected to grow at an annual growth rate of 5.3% by 2022.

Both in the commercial and public sector, the demand for high-tech video and alarm systems, electronic access control and specialist equipment in particular will be at a high level. In addition, the threat of terrorist attacks plays an important role. Areas of application for electronic security technology are facilities of strategic importance, such as airports, train stations or other urban infrastructure.