Industry Analysis

KEY GROWTH FACTORS & TRENDS

Crime and technology trends are contributing significantly to the growth of the security service industry.

More government agencies, hotels, communities, and commercial businesses are under pressure to provide better quality services under severe budget constraints.Privatization: More government agencies, hotels, communities, and commercial businesses are under pressure to provide better quality services under severe budget constraints. They are seeking alternative service providers to meet demands due to increases in the needs of the community.

Outsourcing: There is a growing trend among businesses to outsource certain non-core operations, to limit required capital expenditures, and reduce administrative and labor costs.

INDUSTRY SIZE & GROWTH RATE

Management understands that the security and service industry encompasses numerous protective services including security officers, investigative services, patrol services, consulting services, computer program services, and other service-related needs. Demand for these services has greatly increased over the past decade, and a steady growth is projected. According to the Hallcrest Report 11, gross annual revenues for the guard, patrol, and service industry have increased at an average annual rate of 10% from $3.8 billion in 1980 to $25 billion.

MAJOR CLIENTS & COMPETITION

With over 200 companies listed in the Dade County Yellow Pages, the local service-related industry is highly competitive and fragmented. Feick Security Corporation competes in three major industry categories:

  • National/International Companies
  • Large Local Companies
  • Small Operations

Feick Security Corporation is a successful competitor due to the high quality and range of services offered, coupled with its proven years of experience, reputation, and pricing strategy. Feick Security Corporation is not focused on being an economy service provider, but instead offers exceptional quality and value to its clients. Feick Security Corporation is also effective in cross marketing services through its affiliates who effectively meet the needs of the more price-conscious segment.

The client base of Feick Security Corporation and its affiliates consists of the following: governmental, residential, commercial, industrial, office buildings, banking centers, construction, hotels, medical facilities, and schools. Feick Security Corporation provides various services for many prestigious governmental agencies in South Florida and has received numerous letters of commendation from its clients.

PRICING

Feick Security Corporation positions itself as the value-priced service company with a strong emphasis on quality and customer service. Its clients pay for the level of service that they select. Feick Security Corporation adheres to rigorous quality control and training programs that support each level of personnel requested. Feick Security Corporation Security Division has maintained its reputation by providing superior personnel which ensure high customer satisfaction and retention.

BILLING & PAYROLL

Feick Security Corporation pays its security officers every two weeks, which translates into 26 billing periods a year for payroll. Clients are invoiced every two weeks for guard services with invoices due upon receipt. Applicable taxes are added to hourly rates as quoted in your contract. In the event of any changes in the Federal Minimum Wage, client’s currently hourly rate will be increased by the same percentage as the Minimum Wage increase. Holiday rates are billed for Easter, Memorial Day, 4th of July, Veteran’s Day, Labor Day, Thanksgiving Day, Christmas, and New Year’s Day.

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