Throughout the entirety of Magenta Security’s 25 years in business, security has been a growth industry, and there is no sign that it is slowing. Innovations in technology, overwhelmed police forces and increased demand for private security have continued to fuel growth to this day.
But despite the health of the industry as a whole, very few security companies survive 10 years, let alone 25. Why is the security industry so tough for companies trying to establish themselves?
“This is a hard industry to work in,” said Abbey Petkar, MD of Magenta Security. “It’s 24/7, 365 days a year. We’re here when people are enjoying their time off, enjoying Christmas, bank holidays, weekends – we operate throughout.
“Even the day-to-day can be tough. It’s not a normal 9-5 business where you can lock the doors at the end of the day, go home and relax. Sometimes you might have to deal with an incident in the middle of the night.
“People burn out very quickly, they can’t cope with the demands. They either get to the point where the want to retire, decide to sell or – most often – become absorbed by one of the major players in the industry.”
If the challenge for a security company is not in profits but in motivation, what makes Magenta Security the exception to the rule? Abbey Petkar says it’s all about setting and achieving goals beyond the business and using success to make a difference.
“The things that drive me are the ways that we make a difference within and outside of the industry: our charitable projects, our environmental goals, campaigning for better industry standards. When we achieve these I can punch the air and say, well done Magenta – we’ve achieved another goal!”
Magenta Security’s secret to success has been defining ourselves not just as a security company, but as a carbon-neutral, charitable and ethical security company.
Part of this identity has involved inspiring and assisting other security companies – some much larger than us – in broadening their horizons. Below you will find a few starting points that can help to inject newfound purpose into your business.
While this advice is especially helpful for giving security companies a greater sense of purpose, it can be applied to anyone who wants to use their business to do good.
Our commitment to making the world a better place has helped Magenta Security stay motivated through 25 years of business, three recessions and this year’s devastating pandemic. No matter how hard it gets, we will always strive to do better.
Magenta Security provide award winning security services throughout the UK. We are in the top 5% of ACS approved contractors and were the first security company in Europe to be awarded ISO 14001 for our environmental management systems.
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