4 Tips for Starting a Bail Bonds Company

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If youd like to start your very own bail bonds company, preparation is key. When you turn on the television during peak viewing times, its difficult not to come across at least one bail bonds commercial from a local agent trying to increase brand awareness. In the bonding industry, youll notice that there are a few major players that spend a ton of advertising and marketing dollars to attract people in a time of need. Here are 4 tips to consider so youre prepared for this challenging industry:

Consider Buying into an Established Company First

It can be very hard to get established. If your brand isnt easily recognized and you dont have connections through the courts and jails, its going to be a challenge to make people call you before theyd call another company doing business in that area for decades. Instead of starting your own company entirely, you might want to consider getting your feet wet by buying into a company thats already done the initial legwork. At the very least, you could contact an experienced company like All Star Bail Bonds for advice.

Make Sure You Choose the Right Opportunity

If you see a family run business thats gone up for sale, youll have to be smart about the transaction youre negotiating. Not all bail companies are successful ones, and if a company is up for sale, that should leave you wondering why? Was the business losing money? Was there a family emergency? Is the business growing or is the book of business on the decline? Are there relationships that have already been built? Will you be introduced to defense attorneys that give referrals? All of this information can help you make the best buying decision.

Start Schmoozing with Law Enforcement

Whether you buy into an established business or you start your own from scratch, youre going to need to schmooze from time to time. Your company will only be as successful as your relationship with the players in the law enforcement system. If you speak with police departments, you can find out who your competition will be and how often offenders are bailed out. The feedback they give you can help you decide on the market you should target.

Set Procedures for People Who Jump Bail

Relationships and advertising are important, but youll go out of business quickly if you dont keep tabs on your clients who have active court cases. Its not out of the norm for people who are facing serious charges to attempt to run from the law. If you dont hire a good fugitive recovery team to locate these bail jumpers, youll be stuck footing the entire bill to the courts. Too many escaped defendants on bail will put you out of business. Set your procedures up early on so you know where defendants are and where to find them.

In most states, youll have to obtain bond agent licensure before you can operate. Since youre starting your own business, youll also need to register your business and partner with a surety bond insurance company. All prospective bail bond company owners need to be prepared for the challenge ahead.