USA Opening a security company.

[Microwave]

My question involves business in the state of: Kentucky

I got this idea of starting my own security company, and after an hour of research online came up with nothing that I was looking for. So I thought I'd just ask it here and see what would be required in setting this up.

I want to do everything legal, so my main questions are.

What kind benefits am I required by law to offer? ( health care, dental, paid vacation, paid sick days, 401K, retirement packages, etc ) what all is required?

As security guards, would they have to be provided a lunch break or any other break?

I know I have to pay some things, not sure exactly what yet, I assume work mans comp and unemployment?

What would I need to supply? vehicles, cell phones, flash lights, weapons, uniforms ???

This is probably all above my head, but the best of my curiosity got to me. I am trying to figure out if I were to pay 1 man minimum wage ( $7.25 ) with all other legal things I'd have to add onto that, what would I be paying him per hour and what would I have to charge per hour to the people I get my contract through to make a profit?


How long does it usually take to get a license and open up a business like this?

Could I get a contract with a company before I opened up and got insurance and bonded?

Thanks.. my main concern is how much it'd cost me per hour so I know what I have to charge, thanks!

 

[jstavene]

Hello I would like to add a reply to a post you made but since I do not have the ability to add links there I figured I would message it instead?

hmm permits to carry would require firearms training to attain permits, (locally many offer classes here where I am they range 80-250 for 3 day to 2 week trainings,, (depends how many hours a day training is).

A talk to the local chamber of commerce about business license and fees for the city/county might help.

Insurance and bonding,,(maybe call around to competition make up a comparison this may help with what to offer and what costs,,for services and pricing).

Making a file on all this, for research knowing ones market is important.

Yes there are obligation,, my own research I like,,,15 a hour,,15 percent profit sharing,, and I cover health ins,,and dental,,, (welding, and manufacturing). If I can not do at least this I won't bother,,, but the workman's comp taxes need to be accounted as does the insurance (do the people require any kind of work vehicle for rounds? this could be a bit more tedious). As for breaks, I figure those should be one every 2 hours 15 mins, 2 rest breaks and a lunch 30 mins to a hour,,, (I know of no law requiring paying lunch time here but there may be some state laws? )

Uhm OSHA, is huge here and I have seen fines, (6k in one fine),, so OSHA is my concern and safety is huge,, but since your group would be patrolling property of someone else,,I suspect insurance,,,would be the big thing,,a office or building rental,, incorporation (llc perhaps?) a federal tax ID (EID) employer identification ID,,


I am unsure security people need to carry guns? (or maybe you could charge a difference, and see?)

Uniforms, and training,, on detaining people, and when to contact law enforcement,,
Insurance, hourly cost of any employee could vary,,,

Uhm first maybe, have you considered your own self employment and social security tax as being self employed?

IRS links/Businesses/Small-Businesses-&-Self-Employed/Self-Employment-Tax-%28Social-Security-and-Medicare-Taxes%29


I like this,,,

IRS links/Businesses/Small-Businesses-&-Self-Employed


to determine what to use when working out a employees payscale should be,,
I would begin reading,,,
IRS links,,,,Businesses/Small-Businesses-&-Self-Employed/Employment-Taxes-2

follow the links in

(I have a set amount in my area,,my industry I use then I guess with percentages when I experiment with ideas,, usually I am close )

Good luck!

 

[jstavene]

I apologize about the links, it appears my message count is not yet high enough to post links (anti spam, I assume). but the links are in the IRS website, good luck!

 

[accountingguru]

Yes, the IRS should have all of those.