RMR also adds value to the company whether you are looking to get financing or are searching for a buyer.
The home security industry figured this out long ago. Think of ADT or any other security system. They offer a basic security package at no cost or a minimal investment, with the monthly monitoring revenue from each client being what they are ultimately after. You could also employ this model.
As you figure out whether security is right for your company to add to the different areas of integration consider a few things. The costs to acquire new clients is increasing every year. Even with a seasoned sales staff, new customers still cost time and resources. Once you have that client and are able to demonstrate an excellent level of service you can begin introducing other services to your point of contact.
Even if they are not the decision maker for security, if you have shown your company to be reliable in one area they should have no issue introducing you to those that make the final decision for a security system.
You also need to look at your technicians. Do they have the training and competence for security installation and maintenance? If not there are great resources available; most of them online so you can train them at their own pace.
“Things are becoming very intelligent. We can integrate AV systems into security, card access, mass notification systems,and more.” —Chris Wilhelm, Tech Electronics
Most of the tools needed will be similar to those you use for a typical AV installation. The computer applications are available from the manufacturers. Make certain you and your technical staff are up to date and learn what they all can do.
Finally, do you want to add security to your offerings? This is probably the most important step. As we have discussed this is part of an approach that will require you to look at the client’s facility from a different point of view. You will need to have deeper conversations than you may have had before. Saying no is certainly an option. However, you may be leaving money on the table.
As you weigh all of these steps, consider the recurring revenue model. This may be the one part of security that makes it the most attractive. “Security is the grandfather of recurring revenue,” says Brawner.
Not only is it the grandfather of recurring revenue, the general public including your clients are used to recurring costs where a security system is concerned. It may very well be that adding security to your offerings gives you a great first step in figuring out why the RMR element still eludes so many in the integration industry.