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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