Video 8: How To Calculate Your Security Guard Billing Rate

[@Officerreports]

After I finished making this video, I REALLY realized how much of a game-changer the pricing tool will be. Use the link in the description box to be notified when the tool is ready.

[@djgb1980]

Hello Sir. I've gain a lot of knowledge from your videos. Thank you. I own a Security company in Maryland and pricing my services are sooo difficult. Want to make a profit but be in the ball park with your competition also. SMH.

[@kingkeno_4209]

I want to be notified

[@RedDragonProtection]

I didn't see a link for this, just others... am I missing anything?

[@paullocke9346]

Looking for link

[@silvanaaustin4328]

Thank you for this information a lot of security owners won't give any info to help others.

[@Officerreports]

That's why we do it Silvana. I remember being in the same position wishing people would be a little more open in sharing.

[@peterbahi0227]

You're amazing! Thank you for existing! Definitely going to use you once I pass my PPO exam

[@Officerreports]

Thanks Peter and good luck!

[@r.r.5204]

Question: Do we also calculate the Field Supervisors' and Account/Project Manager's wages into the Billing Rate?

[@Officerreports]

A portion of it should be calculated if it's a field supervisor. On onsite account manager would require the whole salary. I hope that makes sense.

[@miami_vibes6955]

Super helpful. Thank you!

[@Officerreports]

Glad it was helpful!

[@yolandatorres5977]

This was very helpful

[@Officerreports]

Thanks Yolanda, we're glad it helped!

[@maximumprotectionsecuritys8195]

Super video thank you for this information

[@Officerreports]

Glad you liked it

[@chalymoretv929]

Always Educative 👏

[@Officerreports]

Glad you think so!

[@strongsecurity7747]

I'm going to be using your services!

[@Officerreports]

We're looking forward to working with you!

[@pedrofloresjr1417]

How do we use the pricing tool

[@robrandolph9463]

thank you very informative

[@cordswerny5867]

Like to get the template

[@DENOTODD-jp1xz]

THANK YOU VERY MUCH...I APPRECIATE IT

[@abbah43]

very much interested sir, great 😃👍

[@C33-n8e]

Can you go over multi year contracts?

[@PAIDWAYLLC]

i currently work security and get 20hr and my buddy is 25hr wouldnt that mean the business owner is charging 45hr+ per guard?or its not that simple

[@vanessaking6953]

Is the pricing tool available? I need to know how's much to bid on a 24 hour vechicle patrol.

[@Officerreports]

Great question, we'll do a video on it.

[@TheGooseLoose]

Love your stuff man! I hope to be starting my security company in the near future. I plan to start off with patrol services of properties at first, how does the billing rate work in that case?

[@Officerreports]

Great question Clement Capelle! That is a totally different calculation. With that you have to do A LOT of estimation. You have to estimate the number of visits you think that you can squeeze into an 8 hour shift. You'll have to make some estimates around time between clients, time spent on site, etc. Once you have that, you'll have to take the estimated cost for providing that service (i.e. payroll, fuel, tires, maintenance, etc). Once you have those numbers you can determine how many sites you need to make that service worth it to you. I am definitely not an authority on mobile pricing, but that's how I would attack it.

[@akay8790]

Thanks so much for making videos

[@Officerreports]

Our pleasure!

[@sashacameau4692]

Hello, Does all steps discussed apply to doing security for private events and party’s?

[@Officerreports]

Great question. Pricing for private/special events is a little different in that the pricing is usually going to be 1.5x - 2x your regular rate.

[@Soviet_Union545]

This is a great video sir. Awesome. May I request you sir if you could give me a rough idea as how much Profit Margin does a Security Guarding Company makes per hour in British Columbia, Canada. I know it’s a approx question which will need to have many cost parameters added but still if you can share a general market trend, it will be helpful. For example 2 or 3 dollars profit per hour. Also will I be paying tax from 2 to 3 dollars profit earned or this profit margin is post paying all the taxes . Thanks and warm regards

[@HaitianLevi1804]

How can I reach out to you directly? Really enjoy your content

[@zakariabakier7053]

I start following you, your videos are amazing! thank you!! Did you post or do you recommend any video how to calculate the percentage of sales representatives for security guard company?

[@Officerreports]

Thanks Zakaria Bakier! Just for clarifications, do you mean what the commission rate needs to be for your sales reps? If so there is no set number there. Commission is going to be any amount between what your billing rate is and what you think the number needs to be. If your billilng rate is $15.00/hour and you think you have to be below $18.00/hour to win, then you have $3.00 to play with. But I can say, I would usually have commission at 1 - 3%. But again, that all depends on what our costs were compared to the market. I hope that makes sense...

[@zakariabakier7053]

Thank you OfficerReports.com - The provided information are very helpful, now I have an idea on how to better calculate my commission - Also the approach of Cost Plus Pricing is very effective and helpful.

[@petekennedy960]

I am not seeing the link for the pricing tool, can you send it to me. We are a start up security company and OI appreciate your videos!

[@Officerreports]

Absolutely! Go on over to www.OfficerBilling.com. Thanks!

[@marine6712]

Is your software up to help calculate an hourly rate?

[@MattHernke-cb9zk]

Great content, but what about security vehicles? I don't see how you can factor that in on an hourly rate, but I hear some companies do. Can you just seperate vehicle expenses from the hourly rate, or is it recommended to just add that to the hourly rate?

[@Officerreports]

Hi Matt Hernke! Great question, you can calculate the total cost of duty for the vehicle over the life of the contract. That includes oil changes, gas, tires, etc. and then add that to your billing rate, OR you can direct bill the customer. It really comes down to how the client wants to be billed. There are advantages and disadvantages to both scenarios.

[@robertsiena6717]

I am interested in the pricing graph tool.

[@Officerreports]

Hi Robert Siena, if you go into the description of the video click the sign up link to be informed when it's ready. We are looking for a launch in another 60 days or so. 😎

[@dabpressurewashinghomeserv3838]

Is there any mailing list where I can send out a mass email to get more clients

[@Officerreports]

Great question David an Angela Britt! Unfortunately, no there isn't. That's a list that you have to create on your own. We have a video on a good way to do that check out this link: kzbin.info/www/bejne/n2qzeIqMjJtsmM0 I hope it helps!

[@dhakomodherooherokoko6037]

Thanks bro. You give me confidence. In Kenya, we don't work per hour but per day, how do I calculate that?

[@yasirali411]

Ibrahim Were I am guessing just change the scale, if you’re working guards at a 12 hour shift then having 2 guards work 1 day would be the billing rate for the whole day. So essentially Work it out per hour and just scale it up to 12 hour shifts etc. I’m not sure but this is just a guess bro

[@Officerreports]

You would use the same calculations but multiply your per hour rate times the number of hours in your day. I hope that makes sense.

[@andreblain3602]

How much do you charge for officer scheduling

[@Officerreports]

Great question. Shoot us an email at sales@officerreports dot com and we can see your needs and give you a price.

[@ameriateua9901]

I am interested in your pricing graph tool please.

[@Officerreports]

We are in the process of building it out now. Give us 90 days and check back. :-)

[@universalsec]

Did you guys end up building that graph?

[@legion1630]

this site was very good..am about to...btw am interestefd when the pricing tool is ready

[@Officerreports]

Great! It's ready! Go on over to www.OfficerBilling.com. 😉

[@maxthepiguy3658]

So 3 to 30 percent is what the general bidding rate is in the security industry? Wow that is actually not that high. Excellent video by the way!!!

[@Officerreports]

Hi Max The PI Guy! Correct, it's not as high as many other industries, but better than others. 😅

[@sandrapescion866]

I specialize in writing proposals for Government Contracts, I do not operate a security company but my clients win most of the time. Is this a service you or your clients can use? My prices are quite reasonable and I teach clients how to do it right themselves w/o continual consultant support!

[@Officerreports]

Hi Sandra, let's set up some time to discuss, I'd like to learn more. Please email me at marketing at officerreports.com.

[@tobiascushmeer6732]

Sandra Pescion hey Sandra what’s your email address, i would like to discuss a few things with you

[@Jaypat16]

Sandra Pescion I would like to discuss

[@djgb1980]

Sandra what's your contact info?

[@thatotladi4271]

How do you charge for your services?

[@danielgray2764]

How do you determine what is your profit Margin?

[@Officerreports]

Hi Daniel Bray! Great question, I'd use OfficerBilling.com. 😉

[@iloveloagpauldicswallowbal2197]

I am little confused if u charge them $18 per hours for the guard then how do the security guard company make money??

[@Officerreports]

Hi iloveloagpauldic swallowball, sorry for the confusion. The $18 is what your total cost for 1 hour of security service is. Once you have your total cost ($18.XX), you put your profit margin on top of that number. Your profit margin will be the place where you have the most wiggle room. The cool thing is, once you know your numbers you can start comparing your bids to your competitors' bid to get a general understanding of where your competitors will be above or below your cost. I hope that makes better sense...

[@iloveloagpauldicswallowbal2197]

@@Officerreports what is a example would u charge a company per hours for 1 guard and make profit

[@Officerreports]

It's impossible to know what you should charge without knowing all of the costs associated with insurance, taxes, uniform costs etc. After you have those numbers you can add on a profit margin of between, conservatively, 5% and 20%. For example, like in the video, you would take $18.66 which would be your total cost (wage rate, uniforms, insurance, taxes...) and add on, for example, a 12% profit margin ($18.66 x .12 = $2.24) which would get you to $20.90 billing rate. Technically we, should be talking about Gross Margin, but that's a WHOLE other topic.

[@KudossMusic]

i love it

[@Officerreports]

Thanks!!!!

[@sentar6969]

And here's another question how do you come back from Low bid corporate burnout

[@Officerreports]

Get on a better post. I know, easier said than done. 😉

[@sandrapescion866]

The number 8736 appears to be short by 24 hrs. 24*365=8760 hrs. and 168*52=8736. Why would you use 8736? 365/7=52.14 weeks

[@Officerreports]

Hi Sandra Pescion greaet question. Generally speaking, in the security industry we talk about Hours Per Week (HPW), of which we say there are 52.

[@secureonesecurityservices4559]

I am the same way, 24x365days = 8760 per year. When calculating the annual rate of a fixed rate agreement, you can't miss those extra few hours. But awesome information, thank you for posting this video Courtney.

[@gegre9000]

🤷🏼‍♂️🙋🏽‍♂️ me right here. My avg bid are 17 to 22 if I get them then I work the sites my self or with a friend or 2 and always staying broke. 🤔🤣😭

[@Officerreports]

Hey ces alternative, if you’re working the post yourself pls see video #10. 😉

[@PAIDWAYLLC]

@@Officerreports which is number 10?

[@theblackcatvieweraccount5402]

Over time can kill a post. Make sure you take that into account.

[@Officerreports]

It absolutely can. We are partnering with a company called OfficerBilling.com that calculates billing rates. That is one of the factors that you have to input to calculate your billing rate.

[@cedricwilliams6229]

Bro, more than one cent has an s on the end. Cents. Sorry, was bugging me. Kept doing it multiple times.

[@Officerreports]

😖

[@adarshrathi8265]

Nothing

[@Officerreports]

What's nothing?

[@adarshrathi8265]

@@Officerreports In this video you time waste the viewers ,no idea,time waste

[@Officerreports]

@@adarshrathi8265 I'm sorry you didn't find the information useful. What didn't make sense to you?

[@adarshrathi8265]

@@Officerreports you are an intelligent person with huge idiots, foolishness, duffer.