Starting a Security Consulting Company? Read this
What are the costs involved in opening an internet security company?
While you will need some office space, it is probably the
least expensive part of your business. Unless you are doing all the development
programming yourself, your payroll budget will likely be the largest upfront
investment. You will also need examples of computer systems and software that
you are trying to protect. For a reasonable attempt at starting
a security consulting company, you will be looking at $500,000 to cover
operating expenses and development for the first year before you start to bring
in paying customers.
What are the ongoing
expenses for an internet security company?
Programming and development must be constantly in motion to
avoid falling victim to the next internet attack. Your payroll and training,
including constant upgrades to equipment, will always be your biggest expense.
Who is the target
market?
While your product can be used by every person who owns or
operates a digital device, the most lucrative clients are corporations and
government facilities looking to protect massive databases and their customer's
personal information.
How does an internet
security company make money?
Most customers will buy virus protection for their personal
computers on an annual basis. Corporations will pay a monthly fee for active
and constant surveillance of their systems and real-time repairs for any cracks
in their walls.
How much can you
charge customers?
Individuals currently pay between $50 and $100 a year for
protection for their laptops. Corporations will be happy to pay thousands of
dollars in consulting fees to protect their expansive networks.
How much profit can
an internet security company make?
A large cybersecurity firm can see income in the million-dollar
bracket when it is serving corporations. If you focus on the individual market,
you may struggle to generate a profit unless you acquire rights to be included
in a laptop or smartphone product launch.
How can you make your
business more profitable?
Innovation in security programming will make your protection
more valuable to the consumer compared to the competition. You'll need the
brightest IT specialists to create solutions nobody else can offer.
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