Know the Difference between Security Cost vs Security Price
People often interchange price and cost, but it’s important to recognize the significant difference between the two. Remember the old adage, “Beware the cost of the lowest price”? Well, it rings true. Just because a product is less expensive than its competitors’, doesn’t mean you save money in the long run. Sometimes, perhaps most times, you end up spending more in part because of time and efficiency lost to a mediocre service. Or, you could potentially spend twice as much as you’d originally hoped because you have to replace your current company.
So what’s the difference between ‘security cost’ and ‘security price’? Price = The sticker price of what you’re buying. Cost = What you stand to lose in time, efficiency, problem-solving, etc. if you don’t consider your return-on-investment. And that’s what it comes down to for most major purchase decisions: return on investment. Where do you stand to gain the biggest bang for your buck? For businesses, the point of selecting a security company should be how it improves a process or system. In the end, if there is significant cost-savings in personnel time or improved staff efficiencies, it’s worth the extra security cost up front for the long-term benefits.
- What is the wage of the officer?
- What’s the overhead of the security company?
- What’s the profit of the security company?
- Does supervision come through to check up on guards?
- Do they have real time GPS tracking, and online reports?
- Do they assign a 24/7 local account manager?
- Do they have over 40 years of experience in the security industry?
- Who are some of their clients?
In the end, United Security Services bases pricing on doing the job right with the right security plan, the right security guards and the right investment of time.