Beyond fire alarm dealers’ typical monitoring and service contracts, there are so many more creative sources for building your fire business’s recurring monthly revenue (RMR), as I mentioned in my previous blog: This Ain’t Your Mama’s Fire Alarm Biz – New Sources of Recurring Revenue. And here’s another:
Consider offering more than typical digital monitoring and look at the products that offer greater situation awareness, such as surveillance video. Right now, video is a strong value proposition because many jurisdictions are requiring video verification before they will roll a truck. The good news is this: You’re able to charge more for the higher level of detection and improved response offered by video. While your current RMR range for traditional digital monitoring might range from $35 to $65, adding video detection can allow you to increase that rate to between $75 and $125.
For more information on building alternative sources of RMR, view John Brady’s recent Webinar The Other Side of Fire RMR. Then, let us know in the comments if there are other topics concerning fire contracts that you would like covered in future Fire-Lite Webinars.
About the Author:
John Brady, President of TRG Associates, is a 20+ year veteran of the fire and security alarm industry. Regarded as an expert in his field, John has participated as an expert witness in cases representing fire/security alarm providers, as well as building owners, on issues related to holdback disputes, pricing, valuation, communication failure liabilities and security operating standards.