Testing and Inspection Contracts, Video Alarm Verification, Maintenance Contracts are all powerful sources of recurring monthly revenue (RMR) that I’ve delved into here on Fire-Lite Alarms’ Social-Lite blog. But wait, there’s more – how about simply branching out?
To build even greater RMR opportunities, consider helping your customers with all of their fire and life safety needs, including extinguishers, emergency lighting, fire sprinklers and more. Hospitals, child care facilities and nursing homes are especially open to this new trend, as they face changing legislation and regulations around testing, maintenance and inspections. These are areas where you can (relatively) easily and quickly expand your service offering, provide much-needed expertise to critical facilities and strengthen your RMR. You may even be able to partner with a company that offers extinguisher and sprinkler technology that doesn’t want to get into fire alarms and testing.
The bottom line is this: The fire alarm market is a great place to be right now. It’s strong and growing, and evolving legislation means you’ll have plenty of work for years to come. Take this opportunity to grow your RMR, and your business will flourish right before your eyes.
For more information on building alternative sources of RMR, view our 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.