How to Start a Locator Business
Everyone is looking for something. The key to success in starting a new business is to identify that need and make it your business to find it for a fee. Whether you start a locator business to help investors find good opportunities or a more personal investigative service to locate lost or missing family members, the same business and marketing principles apply.
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Instructions
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Study your niche and define your market. Narrow your own mission so that you can deliver one kind of service and do it better than anyone else. After you become established, you can add other lines of service. For example, a residential real estate locator might add commercial buildings and a private investigator may start out just finding runaway teens and eventually branch out to missing spouses.
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Decide if you need a private investigator's license if you plan to locate people. This license is necessary in certain states. You will need some work experience in specific areas like law enforcement, claims adjustments, debt collection or even investigative journalism.
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Write a business plan to take to investors, if you need any start-up funding. A locator business typically doesn't need a lot of initial cash though, since you are relying mainly on your skills at finding either people or property. Budget at least $2,000 to $10,000 in cash for initial startup costs.
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Ask for letters of reference from all your satisfied clients. Since you don't have a product to show for your hard work, you must rely on what others say about you and your services. Ask clients if you can give out their numbers to prospects to call for references. Request referrals from your clients when you are finished with a job.
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Market your services to the appropriate clients. Real estate locators can contact landlords, building owners or tenants to find them the perfect tenants or properties. Private investigators can mail or phone lawyers, insurance companies or other corporations that need to locate someone.
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Network with folks that you may need for a search. Know your territory if you are a real estate locator. Develop contacts in the police department if you are starting a people locator business. A locator is always working.
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