KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ********************** Do you want your kid in the alarm business? December 27, 2023 **************************** Do you want your kid in the alarm business? ******************** Most of you fall into one of the following categories * you’re building your alarm business * you’re wondering what it’s going to cost to raise your kids * you’re wondering what your kids should do for a living * you’re trying to remember the names all your grandkids, never mind their birthdays
Where has all the time gone? It goes by and the older you get the faster it goes by. There is a lot of buying and selling alarm accounts so someone is always going in or getting out of this business. [K&K reps sellers and buyers and also brokers the deal, so keep that in mind]. Just like every other parent you wonder if your kid(s) should follow you into your business or industry. Why not, it’s been good to you and it’s getting better. But all that hard work; risky maneuvers, slow times and good times; changing technology; will there be a need for your services in the future; are there better options for your kid? Don’t think the grass is greener on the other side of the fence. I don’t think any of my friends think that their business or profession is the right move for their off-spring. Doctors say anything but medicine; lawyers say better in finance; finance, better in law or medicine; manufacturing, better in retail and retail better in manufacturing. “Anything is better than what I’ve had to do and my business is too risky for the future.” Of course not everyone thinks like that way. Just look around at second and third generation in the alarm industry. [I’m on third generation in the legal profession, my Dad, me and Jennifer. Can I hold out for my grandkids?]. Here’s how I described the alarm industry long time ago, and it is spot-on today: For the alarm industry, first generation wears jeans sells and installs systems; second generation wears a sports jacket and never installed a system; third generation wears a suit and doesn’t know how to install an alarm system. The apparel is a metaphor and we could equate it with the car each generation drives or the house each generation lives in. Always better. The alarm / security / fire alarm industry is an exciting business. Technology keeps it moving forward offering many alternatives to the traditional alarm system and service. All the crime in our society is also a constant reminder to the public of the importance of personal security measures such as fire and intrusion alarms, video and audio in homes and business, reliable access control, etc. Of course it requires you to continue training and educating yourself, but by now you should know that. The expansive technology, fast-pace crime ridden world we leave in, global market and security conscious society ensures that the alarm industry is a vital and essential service, and those engaged in the industry are at the forefront of protecting the future of life safety services. You and your kids can make a great living in the “alarm business”, which as you know includes much more than alarms. You can get rich in this business and if you already have, you can get richer. You can send your kid to law school, medical school, and business school, have them come out with a JD, MD, MBA, and guess what, they still end up in your alarm business. You may not recognize that business 5 years after they arrive, but you started it. BTW, if you’re reading this and thinking, “is this guy nuts, I want to sell and cash out” … give me a call. Now is a great time to get top dollar for your alarm company. Buyers are paying a premium for alarm companies that have followed best practices. K&K will find you a buyer and also represent you throughout the sale for legal. I hope you love your business; I hope you’re great at it; I hope you make lots of money and live well, and I hope you have a happy and healthy New Year. *************************** STANDARD FORM AGREEMENTS: To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** WEBINARS:https://www.kirschenbaumesq.com/page/alarm-webinars *********************** ALARM ARTICLES: You can always read our Articles on our website at www.kirschenbaumesq.com/page/alarm-articles updated daily ************************* THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily. https://www.kirschenbaumesq.com/page/alarm-exchange ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our email list / Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. ************************** Ken Kirschenbaum,Esq Kirschenbaum & Kirschenbaum PC Attorneys at Law 200 Garden City Plaza Garden City, NY 11530 516 747 6700 x 301 ken@kirschenbaumesq.com www.KirschenbaumEsq.com