KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ****************************** Comment on Customers using fake names on contract June 11, 2024 ************************* Comment on Customers using fake names on contract from article on May 27, 2024 ************************** Ken, The "pay nothing down" alarm industry has brought this upon itself. That's why I never got into it and wanted to get out of the residential side as quickly as I could because of these fly-by-night companies just looking to flip a few accounts. They raced the industry to the bottom. No one makes any money upfront in sales anymore, and now they can't afford to operate. They struggle with basic business necessities like confirming a contract signature—the number one requirement to stay in business. Secondly, they can't collect on these contracts, and then they have to take these cases to court to fight for just $39 a month. It makes no sense to me. That’s why these companies only manage to stay in business for about five years before they must shut down due to their poor business structure. It’s a shame what dealers have done to this industry. Scott Alarm initiated this foolish downturn, followed by ADT, and now every little mom-and-pop follows suit. We won’t install another residential system for that very reason. The ignorance of the dealer is greater than the fraud of the man signing the contract. Enjoy your quick-setup burglar alarm industry. Stay out of the high-end security, market, and commercial fire sectors. Ed H ************************ Response ************************ Bad business practices end up causing all types of problems and certainly contribute to the struggle to stay in business. Everyone should keep in mind that staying in business is not the goal; being successful and getting rich is the goal. You do that by using best business practices, and not just some of them. Most of you have made the right first step by getting the Standard Form Agreements. Many of you keep the Standard Form Agreements up to date, also a best practice. And just under “many of you” get the contracts signed properly, thereby sealing the deal, at least as far as contractual protection and squeezing out the most equity value from the contracts. Getting the correct name of your subscriber is vital. At best you will have inconvenience if you have to pursue collection against a subscriber who you can’t even identify. At worst you may find you don’t have a contract at all, at least not with someone who isn’t a phantom residing so deep under a rock you can’t find them. There are several successful business models in the alarm industry and what works for someone may not work for you and vice versa. Building consistent RMR growth, no matter how you get it done, seems to me what you should be striving to achieve. ********************** STANDARD FORMS Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** Ken Kirschenbaum,Esq Kirschenbaum & Kirschenbaum PC Attorneys at Law 200 Garden City Plaza Garden City, NY 11530 516 747 6700 x 301 ken@kirschenbaumesq.com www.KirschenbaumEsq.com
