How Much Does Private Security Cost? Is It Expensive?
Whether you’re looking to reduce security costs or upgrade your entire security system, Becklar Monitoring is here to help.
Private security prevents theft and damage to property and people. Some businesses need security more than others. According to the Bureau of Labor Statistics, the top industries that hire security guards are:
- Investigation and security
- General retailers
- Medical practices and hospitals
- Schools
Proper security is a crucial expense for thriving businesses, but it can get expensive. How much does private security cost, and is there a way business owners can protect themselves without going bankrupt?
Learn more about the financial and non-financial costs of private security and its more efficient alternative—remote guarding.
What Are Traditional Private Security Options?
Private security is not a monolith; there are numerous different types based on specific circumstances. The experience and skills needed for certain security situations can increase costs.
Unarmed Security
Unarmed security guards don’t use firearms to ensure a safe environment. Instead, they focus on other skills such as observation, resolving conflicts, and reporting. They call the authorities if a conflict requires force instead of engaging themselves.
Unarmed security is often utilized as a physical presence to assure people they are safe. Unarmed guards report wrongdoing to the authorities or the business owner. They may not stop a shoplifter, but they will memorize details about them to share with police so the suspect can be brought in.
Armed Security
Armed security is for more serious situations since these guards are trained to use firearms. They may also have training for other security tools, such as tasers or pepper spray. These security guards are highly trained and understand the legal limitations of what they can and can’t do. They use force but never cross legal boundaries.
Mobile Security
Mobile security focuses on security guards on the move. They can be armed or unarmed depending on your needs. This type of security is often used for large campus or multiple buildings that need to be monitored.
Event Security
Event security knows how to handle crowds, which is crucial for all kinds of events. These guards can be armed or unarmed and may also use mobile security tactics depending on the size of the event. Their primary goal is to maintain the well-being of the attendees and talent.
Personal Security
Also known as bodyguards, personal security guards focus on protecting one person or group. They review all aspects of the protectee’s life, such as close contacts, travel plans, and travel routes. Consider the bodyguards who protect popular musicians, actors, and other public figures.
How Much Does Private Security Cost?
Many factors affect private security costs, so it’s difficult to give a universal answer. According to the Bureau of Labor Statistics, the median annual wage for basic security guards was $38,370 as of May 2024.
Here are the estimated costs for how much private security costs per hour for specialized guards:
- Armed guards cost $20–$25 per hour
- Armed guards with a military or police background cost $60–$100
- Mobile security guards cost $30–$60
- Event security costs $20–$50
- Personal security costs $30–$100
How Much Does 24-Hour Security Cost?
It depends on your needs and your private security company. However, 24/7 security generally costs hundreds of thousands of dollars per year.
Yield 4 Times RMR
Remote guarding can yield 4 times the RMR of traditional security solutions.
What Affects the Cost of Security Guards?
Calculating the costs of security guards can be challenging. Numerous elements are involved, so you won’t be able to get an accurate picture without a customized quote. When considering the cost of private security, consider these factors.
Experience
Experience is a crucial price differentiator. Most security guards are trained in conflict resolution, physical fitness, and other skills. They’ll typically undergo a background check to ensure they have no criminal record.
However, the price you pay for an experienced security guard is very different from security with police or military backgrounds. Experience with firearms will also increase the price since those guards had to be trained and certified to use them.
Length of Contract
Costs change depending on the duration of coverage. Is it just for a day, or is it consistent work? A regular gig might allow for a lower hourly rate than a one-time arrangement. The need for overtime pay, if any, also has a big impact.
Location
Where security is needed is another significant price factor. If the area already has a high crime rate, security companies will charge more due to the potential danger their employees would face.
Location comes into play with most jobs, just because of state and local labor laws and workforce supply and demand. Private security is no different.
Level of Risk
Some situations are naturally more dangerous than others. A security guard protecting a store costs less than a personal bodyguard for a high-profile politician.
The Number of Guards
It goes without saying that more guards cost more than fewer guards. If you need round-the-clock protection, you’ll have to pay for multiple guards.
Travel
If travel is involved, remember that guards will need to be transported alongside the people they’re protecting. Traveling to multiple locations costs more due to the planning and dangers involved.
Risks that Come from Using Human Security Guards
There are several risk factors or non-financial costs associated with human security that need to be considered as well.
Fatigue and Human Error
Working long hours wears on everyone, and security guards are no different. While trained to fight fatigue, guards are still human. When security guards are tired, they make mistakes that can cost thousands of dollars in stolen products, property damage, injuries, and lawsuits.
Fatigue can result in:
- Missing signs of danger
- Slow reactions
- Lack of focus
- Poor decision-making
- Poor problem-solving
- Lack of critical thinking
Physical Limitations
Even the most experienced guards have physical limitations. These limitations can manifest in:
- Being outrun by a suspect
- Being unable to fit in small spaces
- Having a limited field of vision
- Struggling to stay awake on a 24-hour shift
Poor Response to Emergencies
While everyone hopes that no emergencies occur, security must be ready to respond regardless. If the security team isn’t properly trained for emergencies, they will react poorly and may cause more problems, leading to injuries, product damage, or even fatalities.
Poor Teamwork
If multiple guards are required to protect assets, they must work together. If anyone has poor teamwork skills, it will affect everyone. Communication and knowing when to lead or follow can be the difference between a safe removal of a suspect and someone getting injured.
Unnecessary Force
While the goal of all security personnel is to de-escalate situations before they get violent, human error can occur. Any guard using unnecessary force when protecting you or your property opens both of you to legal action.
How to Save Money on Security Services
There are some ways businesses can save money on their security. However, you want to balance saving money with reliability. You never want to compromise the safety of your people or property.
Perform Risk Assessments
Instead of going in with a “protect everything” approach, perform risk assessments to see how to use your security services more effectively. Identify areas and times of vulnerability and focus your resources there.
Use Fewer Guards
Consider reducing the number of security guards currently being used. Extra salaries waste money. You can focus on optimizing shifts (if applicable), better matching people’s experience with your needs, and preventing potential overtime.
Use More Technology
While security provides an in-person deterrent, camera monitoring provides a significant advantage at a lower price point. A trained operator can keep an eye on multiple spots at once, identify suspicious activity, and prevent crime before it occurs.
Other helpful pieces of technology include alarms, high-quality locks, motion sensors, and various cybersecurity tools.
Take Advantage of AI
As artificial intelligence (AI) has developed, it’s become a great tool for security. AI can monitor cameras, report suspicious activity, and reduce response time to potential threats.
Yield 4 Times RMR
Remote guarding can yield 4 times the RMR of traditional security solutions.
Remote Guarding as an Alternative to Security Guards
Remote guarding reduces on-site security by using cameras and monitoring personnel. A trained professional can review live camera feeds from a remote location to keep an eye on your assets.
They can respond to a crime in various ways:
- Speak directly to intruders to drive them away.
- Alert the authorities.
- Activate alarms.
- Alert on-site personnel.
Benefits of Remote Guarding over Private Security
Becklar’s video remote guarding offers multiple benefits:
- Government-grade video surveillance: When you partner with Becklar, you utilize the same technology the government uses to survey its assets.
- Security professionals: Security professionals will monitor your cameras as if they were there in person. Our employees use proven strategies to de-escalate situations, preventing damage and theft.
- Reduction of false alarms: Did you know 94–99% of police responses are to false alarms? Remote guarding allows you to prevent false dispatches by turning off false alarms remotely or scaring away intruders before they activate them.
- 24/7 protection: Our state-of-the-art system uses AI, security professionals, and motion detection systems to offer protection wherever and whenever you need it.
- Complete field of view: People have a limited field of vision, but that’s not the case with Becklar’s remote guarding solution. It can monitor every inch of your property.
- Affordability: With Becklar Remote Guarding, you can reduce or even eliminate on-site security personnel, saving a lot of money.
- Scalability: Remote guarding can help businesses big and small. It’s easy to scale as your business grows.
Reduce Security Costs & Improve Efficiency with Becklar Monitoring
Whether you’re looking to reduce security costs or upgrade your entire security system, Becklar is here to help. We’ve been in the security industry for 40 years and have experience working with a wide variety of industries.
Our mission is to keep our customers and those around them safe. To quote Brian from Rucker Equipment, “I had no idea there was such an easy and affordable way to stop thieves from robbing me blind.”