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 ****************************** New Alarm and Monitoring Business Model Is Proving Successful For Dealers and Customers August 17, 2022 *********************** New Alarm and Monitoring Business Model Is Proving Successful For Dealers and Customers ************************ The traditional intrusion alarms market is competitive and operates on thin margins. To make up for selling and installing hardware at or below cost, dealers frequently leverage after-install services, such as monitoring and inspections to provide RMR opportunities. California-based company Verkada, however, is seeing success with a rather unique business model. Verkada sells intrusion alarm hardware and professional monitoring bundled together, and charges for it upfront, rather than using a recurring monthly or yearly model. A 1-, 3-, 5-, or 10-year “license” is required to operate any of the alarm hardware, and professional monitoring comes included with the license. The license also includes additional services, such as unlimited video verification, at no extra cost. The benefits of this model to customers are understandable: for one, they only have to manage a single hardware and monitoring vendor. Paying for the licensing portion up front also enables customers to take advantage of multi-year discounts, lock in fixed rates to protect against inflation, and put the licensing cost in their CapEx budget. But what about dealers? In many ways, Verkada offers dealers the opportunity to significantly grow revenue by acquiring net new customers who are in the market for a solution like Verkada’s, with its cloud-based technology and emphasis on software and user experience. Customers are also increasingly interested in consolidating their physical security infrastructure under a single vendor, which Verkada allows them to do. Ongoing revenue for dealers isn’t lost either, as the partner gets a cut every time the software license is renewed or the customer purchases new licenses. Low overhead costs and short deal cycles also helps dealers juggle more projects at once. For dealers who are interested, Verkada’s partner program provides in-person product and installation training, ongoing sales training, marketing materials, and larger discounts for partner-led deals to help win more deals. There is no cost to join Verkada’s partner program. Dealers who want to learn more can visit: https://www.verkada.com/webinars/become-a-verkada-partner/?utm_campaign=7012T000003jZNmQAM ************************ To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** To order up to date Standard Form 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
