An Open Letter: The Security Rundown is Our Newest Commentary Podcast about Physical Security
Hi friends – Tim Lozier here.
My colleague Jeff DiDomenico and I were having a discussion about what’s happening in physical security the other day, and we had an idea – “why don’t we just record these and provide these quick takes on the industry?” We wanted something that would be simple and quick; a rundown of topics that we can comment on. “Keep it simple” is our mantra. The Security Rundown will be all about the physical security industry in under 5 minutes (or as close as I can keep Jeff to it).
So, there you have it – newsworthy physical security industry topics in bite sized chunks. We plan to keep it up and have fun in the process. And hopefully, these episodes will provide some valuable insight into what’s going on in the security industry right now.
Now, introducing our first rundown:
Episode 1: The Swinging Market Hits Physical Security
- Wage and Labor: The labor market is swinging back up, and we’ve seen that wage rates are up 1.2% higher than before the pandemic. What is the impact on the security guard industry and keeping profit margins?
- Interest Rates and Inflation: The economy is seeing challenges and interest rates are rising, which is really looking to put risk on security guard companies with receivables, finances, and keeping their company protected.
- Subcontracting: Thinkcurity just did a webinar on subcontracting for security guard firms and how they can build a partner network. What is the benefit for smaller security guard firms in becoming subcontractors, and how can larger firms leverage this network to expand?
- Insurance Risk and Exposure to Higher Premiums: COVID brought a whole new set of risks and liabilities that insurance companies are looking to increase premiums on high risk areas. So what is the risk to security guard companies and how can they mitigate the risk?
- Valuations: What are you worth? How do you know, whether you are looking to exit and sell, or even apply for lines of credit to get more financing and secure better interest rates. What is out there to help assess the value of your security guard company?
Hope you enjoy this first episode of The Physical Security Rundown. Stay tuned for more as we play around with how we chat about the important things happening right now in the physical security industry… in the span of 5 minutes or so.
Until next time. Take care,