How to Start a Bail Bonds Company
Bail bonds companies are responsible for securing funds from defendants to ensure their appearance in court. If the individual doesn't appear in court, the bail bonds company is required to quickly hand over funds to the court system. To launch this type of business, most states require that you complete a pre-licensing course to be eligible for licensure.
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Instructions
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Complete a bail bonds pre-licensing course. The first step in launching your bail bonds company is determining your state specific requirements. You may need to complete a pre-licensing course which will teach you the fundamentals of operating a bail bonds company, and the laws that apply in your state. Visit your state's department of insurance to determine requirements in your area.
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Secure a business license with your city. Once you've received a license to operate a bail bonds business, you should apply for a business license. Complete an application with your city, which can be obtained by visiting your city hall department or city's website.
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Create a business plan for your bail bond agency. Before opening your doors, it's important to have a plan. Your business plan should include marketing, operating and financing strategies for your bail bond agency. If you haven't created this type of plan before, check out Bplans (see Resources); a company that provides free templates.
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Target local courts to generate business. Some courts provide the families of defendants with a bail bond agency list. If you provide your state license, the court clerk may add your company to the list.
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Create several different channels to market your services. When marketing your bail bonds company, think about where individuals will be looking for your service. Take out a yellow page ad in the counties you plan on serving and place an ad in free community papers. Also, put an advertisement on Craig's List and on your regional newspaper's website.
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Tips & Warnings
Keep up with your state's laws. Bail Yes (see Resources) is a company that keeps an updated set of bail bond laws by state. Check it periodically to ensure you're up to date on any changes.
Make sure you aren't in a state that outlaws private bail bond agencies. These states include: Oregon, Illinois, Kentucky, and Wisconsin.
