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 ****************************** Comment on Using ratios to analyze health of your business / Introducing Security Owners Group February 22, 2023 *********************** Comment on Using ratios to analyze health of your business from article on February 3, 2023 / IntroducingSecurity Owners Group *********************** Ken, This email struck a chord with me. I’ve long noted the lack of standards across our industry when it comes to the performance of the business itself. With so much focus on the RMR value we forget that a well-run business also has value. This is why I started Security Owners Group. I got tired of other industries running circles around us in profitability. Security Owners Group has a service called Secret Financials that we launch every q1. In this, we select groups of 5 security companies, review their financials and anonymize them, then review them as a group, with a focus on ratios and giving action items on how they can improve profitability by highlighting specific ratios and actions they can take to improve them; at $600 it’s cheap. Margin, profit per hour, revenue per employee, quick ratio, golden ratio, asset utilization… all of the key business metrics are built on ratios. And it’s unfortunate that so many in our industry fail to realize that you can be profitable now while also building equity in their RMR. There is still room for a few more companies to join this year’s round of secret financials. Your subscribers can learn more about Security Owners Group and this service and join by visiting https://www.securityownersgroup.com/secret-financials32173227 We also have a free Facebook group of verified security company owners geared towards helping owners get the resources and advice they need. This group can be found at https://www.facebook.com/groups/SOGfree/?ref=share&mibextid=S66gvF This group can be joined free; no charge to belong You’ll be glad to know the membership of 500 owners overwhelmingly recommend the Kirschenbaum Contracts! Armando Perez ************************ Response ************************ Thank you for letting the industry know about this group and the two options to be involved. Focusing on best practices and keeping an eye on the bottom line is one way to succeed. The other way is luck. Choose the former. And, BTW, the group recommending Kirschenbaum Contracts is much appreciated and certainly attests to wise leadership. ************************ 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. *********************** 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
