MONEY MATTERS: Making Fortune From Sale Of Security Equipment

The evolving and rising nature of crimes in Africa have seen many people relying on contemporary and effective ways to monitor their businesses, homes and events.

Over the years, it has become evident that man guards, the most popular response to crime in many African countries, have become inadequate, and newer ways are being sought to ensure a combination of electronics support to enhance the effectiveness of man-guarding on the back of technology in creating solutions around different risk equation and demands for safety.

 Starting the Business

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

Write your business plan, fund your business idea, pick your business location, choose a business structure, choose your business name, register your business and get federal and state tax IDs clearance.

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(about N55 million) and $350,000(about N195million). This budget covers all upfront costs, as well as payroll and ongoing expenses, for the first year while you work to bring on paying customers

Investment Size

In subsaharan African countries, the investment size of security investment is worth billion 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 for more efficiency and growth.

There’s an increasing demand in African Countries for security Gadgets, electronic security which explains the use of technology and electronic devices to provide safety and security for lives, assets, and businesses, by preventing the unauthorized access to restricted premises, critical assets, and sensitive data.

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

A case in point is the Nigerian market which has responded positively to the electronic security market. In Nigeria, many private individual commercial establishments and government bodies are now investing on improving the quality of safety. A major factor contributing to these improvements are the wave of terror, kidnapping and banditry. Some basic regulations being implemented in some sensitive sectors like FSI, Manufacturing and Oil & Gas. In fact, security systems are also now adopted as a strong basics for quality certification.

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

Security Equipment Sale

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

Opportunities

Market for security devices in Africa is huge.

As it is, the global Electronic Security System market is characterized by various factors. The United State of America is considered to be the largest market followed by Europe, Asia, Middle East and Africa and is expected worth about $80 billion in 2020. It is envisaged that there will be a huge demand in CCTV and Video Surveillance and critical need to restrict unauthorized access due to the rising global insecurity which is considered to be borderless.

The African market is still evolving towards a one-dimensional strategy, which is why the market is not growing at the appreciable ratio. After South Africa, Nigeria is the second largest market of video surveillance systems in the Sub-Saharan region and is expected to grow at an annual growth rate of 5.3 per cent from till 2022.

Both in the commercial and public sectors, the demand for high-tech video and alarm systems, electronic access control and specialty equipment especially will be on a high level. In addition, the threat of terrorist attacks plays a significant role. Fields of application of electronic security technology are strategically important facilities, such as airports, railway stations or other urban infrastructure.