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 ****************************** Commenting on capitalizing on your monitoring accounts / ISC Schedule February 27, 2024 ************************* Commenting on capitalizing on your monitoring accounts ************************* Ken I've been at this crazy industry for over fifty years. I was with the same central station for over thirty years and they decided to sell out to one of the big guys. No one asked me if I was willing to go with the big guy. They were terrible. Their software was not compatible with the software that we were used to and the accounts got scrambled, alarms mishandled and almost all special instructions and timing for events were ignored. Not to hurt my old central station, who we loved, I stayed through the recourse period of one year and started interviewing central stations. I figured if one central station was willing to pay to have my accounts moved to that central station, why shouldn't a central station pay me to move my accounts to theirs. I found one that I liked, negotiated the cost per account and got a lump sum credit each of three years on the anniversary and moved. These are your accounts, not the property of your current central station. Make sure in your contract with any central station, you have a back door if they suck. Stan Corn, Alarms, Inc. *************************** Response *************************** The “back door” with any central station will be the Rider to Central Station Dealer Agreement. Be sure you get that Rider before signing the Dealer Agreement. Perhaps not all the items on the Rider will apply to your deal, but the Rider will call your attention to what should be important, actually essential, to you. You’ll be making an informed business decision on lots of issues when you have the Rider. And the Rider will save you the call to me asking me to review the Central Station Dealer Agreement, which if you, and the central station, are lucky, is a K&K Dealer Agreement. All I’m going to tell you is to get the Rider, at least for a start. Reputable central stations will accept the Rider [sometimes with some modification to accommodate the specifics of your deal] and if the central station you’re dealing with won’t accept it, move on to another choice. Stan raises a lot of great points that you should take note of. He recognized that it was his monitoring accounts that his central station was actually “selling”; he got nothing for it. He figured out that he could get paid to move his accounts. Seems like Stan got an incentive of 3 months free over 3 years and a discounted monitoring charge. That’s a typical incentive for a deal with enough accounts [and I don’t know how many that really is] to get the attention of the central station. Times have changed, a bit. This “new program” is different. It’s simple. You tell me what you want to pay for your existing monitoring base and you will pay half that amount over 4 years and then pay just that amount for another 2 years. That’s the deal. If you’re not ready keep it in mind. By the way, this deal isn’t for every dealer. First of all, your central station may actually be special enough to provide a service that you need and can’t get elsewhere. You may be comfortable where you are and satisfied with the monitoring services. By all means, stay where you are. You should however know that this new opportunity is available and if you’re ready to make a move, contact me. I will have a group meeting on this program at ISC and also will meet with a few of you privately to discuss the program [though I did disclose it above with enough detail]. I have no idea how long the monitoring market will support a program like this, so don’t delay. One last thing. Not too late for central stations to join this program. *********************** ISC schedule ************************ Dealers who want to participate in private meetings with me or vendors listed on The Alarm Exchange should contact Stacy Spector,Esq at 516 747 6700 x 304 or sspector@Kirschenbaumesq.com to schedule a time. Vendors who wish K&K to schedule meetings for them during K&K's private and group meetings should contact Stacy Spector,Esq at 516 747 6700 x 304 or sspector@Kirschenbaumesq.com now. Meetings [private and group meetings on scheduled topics] will be schedule for half to one hour, without charge, and conducted at the Palazzo Prestige Lounge. Times and schedule is limited so please contact Stacy soon as possible to request a topic or schedule an appointment. *********************** STANDARD FORMS 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 ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* 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 / Email 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. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** 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
