How to Open & Operate a Financially Successful Private Investigation Business: With Companion CD-ROM
Did you spend your childhood reading detective novels, imagining how amazing it would be to start your own agency? Have you recently retired from your current job in the police, military, or other investigative agency? Do you want to start your own company? If so, consider owning and operating your own private investigation business. With a massive upside and potential for growth, the industry has been booming for years. According to the Bureau of Labor Statistics’ Occupational Handbook for...
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If you spent your childhood reading detective novels and thinking how amazing it would be to start your own, or if you just decided it is time to retire from your current job in the police, military, or other investigative agency and start your own company, the concept of owning and operating your own Private Investigation Business is probably very enticing. With a massive upside and potential for growth, the industry has been booming for years. With all self-employment opportunities up and private investigation in particular up by more than 16% according to the IRS statistics on small businesses, now is the time to get into the industry.This book was written for anyone who has looked at the idea of private investigation and decided that it would be ideal for them. You will learn everything you need to know about working in the private investigation field, starting with the basics of what you can expect and what preconceptions you may have that are just Hollywood fancy. You will learn how to choose a niche of investigation and how to start thinking in the abstract, questioning everything but recognizing facts for what they are. You will learn the key differences between a private investigator and a police officer and why those who want to be the latter should consider all their options before getting into private work. You will learn how to investigate a case and how to perform all of your necessary actions legally.Whether you will be operating out of your home or you are looking to buy or rent office space, this book can help you with a wealth of start-up information, from how to form and name your business to deciding if this will be a joint venture or if you would rather work solo. Valuable information on forming a Partnership, LLC, Corporation, or becoming a Sole Proprietor, the four types of business formations, is included, and also the legal implications of each.This complete manual will arm you with everything you need, including sample business forms; contracts; worksheets and checklists for planning, opening, and running day-to-day operations; lists; plans and layouts; and dozens of other valuable, timesaving tools of the trade that no business owner should be without.While providing detailed instruction and examples, the author leads you through every detail that will bring success. You will learn how to draw up a winning business plan (the companion CD-ROM has the actual business plan you can use in Microsoft Word
Chapter 1 Determining Your Prospects in the Private Investigation Profession 17\ Private Investigation: A Brief History 20\ Private Investigation Today 21\ Assessing Your Skills & Background 23\ Learning About the Industry 28\ Before You Open Your Business 33\ Essential Factors to Success 35\ National Research 36\ Market Area Research 38\ Starting from Scratch versus Buying a Franchise 41\ Chapter 2 What it Takes to Become a Private Investigator 49\ Developing Your Skills for Internship 51\ Intern Progress Reports 53\ Niches for Investigators without a License 57\ Additional Training & Niches for Licensed Investigators 58\ Chapter 3 What You Will Need to Open Your Business 69\ Determine the Legal Structure of Your Business 82\ Becoming a Small Business 83\ Financial Avenues to Take 98\ Lending Institutions 100\ Joint Ventures 105\ Federal Government 108\ Writing a Loan Proposal 113\ Professional Advisers 114\ Trademarks 116\ Fictitious Name Registration 118\ Obtain an Employer Identification Number 119\ Open a Bank Account 120\ Secure an Accountant or Purchase Accounting Software 121\ Get a Post Office Box 122\ Permits and Licenses 122\ Setting Up Your Office 124\ Tools for Operating Your Business 127\ Computers and Software 131\ Setting Up Ledgers 138\ Chapter 4 Finding Clients & Getting Paid 145\ Web Site Design Fundamentals 146\ Designing Your Logo 148\ Domain Names 149\ Search Engine Optimization-Explained 151\ Marketing Your Business 152\ Creating an Effective Brand 157\ Using Social Media and Networking 159\ Getting Paid 164\ Secrets of Job Estimating 168\ Price Strategy and Preparing Bids 169\ Negotiating Contracts 171\ Chapter 5 How to Investigate Different Cases 175\ Investigating Infidelity & Divorce Cases 178\ Conducting Background Checks 181\ Investigating Personal Injury Cases 184\ Investigating Malpractice Suits 188\ Investigating Workers' Compensation & Insurance\ Fraud Cases 189\ Investigating Theft Cases 191\ Bounty Hunting 192\ Investigating Collection & Repossession Cases 193\ Investigating a Missing Persons Case 194\ Skip Tracing & Public Record Searches 195\ Pretexting for Information 199\ How to Spot a Bug or Wiretap 200\ Chapter 6 Working a Case 205\ Tailing the Subject 210\ Counter-surveillance 216\ Creating the Surveillance Log 217\ Chapter 7 Maintaining Your Business, Avoiding Pitfalls, and Reaping Benefits 221\ The Forms You Need 221\ Taxes 223\ Controlling Costs 224\ Hiring Employees 225\ Application of Federal Law to Employers 232\ Creating an Ethical Environment 233\ Deductions 235\ Compensating Yourself 238\ How Sudden Success Can Put You out of Business 240\ Understanding Bankruptcy Laws 242\ Chapter 8 Working with Law Firms & Enforcement Agencies 247\ Chain of Custody 250\ Working with the Police 253\ Subpoena and Courtroom Testimony 255\ Taking Depositions for Attorneys 257\ The Work Product Rule 260\ Chapter 9 Ethical & Legal Issues 263\ Peeping Tom Law 268\ Drivers Protection Privacy Act 268\ Gramm-Leach Bliley Act 270\ Knowing Your State and Local Laws 270\ Liability 274\ Types of Insurance 277\ Ghostwriting 282\ Chapter 10 Long-term Financial Goals for Your Business 285\ Expanding Internationally 288\ The Exit Plan 293\ Leaving Your Business to a Family Member 295\ Selling to Your Employees 295\ Conclusion 299\ Appendix A Checklists and Forms 301\ Retainer Agreement 301\ Itemization Checklist for Surveillance Operations 303\ Surveillance Log 304\ Sample Income Ledger for January 2010 305\ Sample Expenditure Ledger for January 2010 305\ Appendix B Additional Resources 307\ Appendix C Glossary of Terms 311\ Bibliography 317\ Biography 327\ Index 329
