Return on Investment (ROI) On Business Security: A Comprehensive Guide from Trusted Perth Locksmith
Posted on 12th, Aug 2019
Whether you’re a big, established business or a budding startup, protecting your assets should be a top priority. As a leading Perth Locksmith with over 15 years in the industry, we have helped many businesses update and revamp their security. The main problem we’d encountered is that many business owners consider spending money on security measures as an unavoidable expense. But, that’s not a fair assumption. It’s time that we changed our attitudes and looked at security as an investment that yields good ROIs.
How to Calculate ROI on Your Security?
Calculating the ROI for your security can be quite difficult, simply because security is not a standard investment. Add to that the fact that the more effective a security system, the more likely that it will seem like it’s doing nothing at all, and it becomes difficult to calculate ROI.
Our experience as a Best Locksmith Company providing cutting edge security solutions to largescale enterprises has taught us a thing or two about calculating ROI on security. For instance, we’ve come to realise that when it comes to security, you should calculate the return on your investment upfront. For instance, if you upgrade the doors in your premises, investing in a state-of-the-art smart lock, you are immediately cutting down your risk of being broken into or burgled. Those crucial factors are what constitute as returns on the initial investment.
Simply put, every threat that gets neutralises as a result of your security investment is an ROI. And if you’re not getting sufficient protection or there are still vulnerabilities in your security system, then that means you’re not maximising your returns.
How Much Should You Spend on Business Security, According to Trusted Perth Locksmith?
As a Trusted Perth Locksmith, many of our customers come to us for advice on their business security. One of the most common questions we receive is ‘How much should I invest in my business security?’
While there’s no correct answer to that question, one easy way to figure out how much you should roughly invest in security is by following the 10% rule. Going by this rule, you should invest 10% of the cost of your assets. So, let’s break it down. Let’s say your commercial assets are worth $50,000. Under the 10% rule, you will need to invest $5,000 in security measures to get optimal results. Keep in mind that the $50,000 value of assets is just a baseline. There are other factors to be taken in consideration as well. For instance, burglary or break-in can result in downtime, affect productivity and have a chain reaction that impacts your bottom line. So, considering all that, a $5,000 investment doesn’t seem too high, does it?
What Measures Can You Take to Secure Your Business?
From a Locksmith Company’s point of view, here’s what business security entails:
- Installation of surveillance cameras
- Installation of advanced security systems
- Installation of smart locks
- Installation of Access Control Systems
- Installation of floodlights and night vision cameras in dark and abandoned areas
- Installation of alarms and other measures to alert you if there’s a break-in attempt
Looking for a qualified and Trusted Perth Locksmith? Give us a call on 0427 580 823.