Increase your Recurring Monthly Revenue (RMR) by offering Maintenance Service Plans for security alarm systems, which can include labor only or labor and parts. Further, consider providing your customers with an option to add after-hours service for an additional recurring monthly fee. Maintenance Service Plans can also increase the value of your business, as buyers of security alarm accounts are currently paying as high as a 20 multiple (20 times RMR) for properly contracted Maintenance Service Plans.
MICHAEL J. REVNESS, ESQ., is the founder of AlarmLegal.com, SecurityAlarmBroker.com, SecurityAlarmMediator.com and a founding partner at the law firm of KURTZ & REVNESS, P.C. Please contact me at firstname.lastname@example.org or 610-688-2855 if I can be of assistance with the drafting security alarm contracts, purchase or sale of security alarm accounts or other related security industry legal services.
This article is for information purposes only and does not constitute, and should not be relied upon as, legal advice.