Starting your own bail bond business gives you an opportunity to help those in need and make a difference in the world. Over time, it can help you build connections and make a name for yourself in the local community. If you’re wondering how to start a bail bonds business, follow these five steps!
In 2018, it seems like there is a never-ending list of potential things you can do to make money. From blogging to Youtube it seems there’s a guru around every corner telling you about the next best thing, and the easiest way to make thousands every month.
What not a lot of people are talking about, are bail bonds. Starting your own bail bond business can give you an opportunity to help those in need and make a huge difference in the world.
Have you been wondering how to start a bail bonds business? Over time, building a bail bonds business can help you to build connections and make a name for yourself in the local community.
This article will take you through the five steps you should follow to get started.
What Is a Bail Bonds Business?
A bail bonds business can be a very profitable endeavor in any community. While you can get started with an office, many people opt to start their businesses from home, to keep costs low in the early months.
You’ll need to be a good judge of character and familiar with criminal process procedures to do well in bail bonds. This is so you can make sure you’re writing bonds for those who aren’t a huge flight risk.
A bail bonds business is a person or company who will act as a surety and pledge money or property as bail for the appearance of people in court.
Not only can you make good money from this business, but you can also help out people who need the most help in your community.
How to Start a Bail Bonds Business
You might not know this, but bail bonds agents have more power than the police and can pursue clients across multiple states if needed. Starting a bail bonds business can give you a lot of privileges and also an opportunity to make some great money and give back to the community.
Here are the five steps you’ll want to follow to get started in bail bonds.
Step 1 – Find Out the State Regulations
Step one is to find out about the rules and regulations of the state that you are in. You may find that some states don’t even allow bail bonding, so don’t get too excited before checking.
You will also find that different states have different licensing requirements, some require more involvement than others. This means it can be a big consideration to where you live when looking at starting a bail bonds business of your own.
Once you’ve found out the answers to those questions, the focus turns on you. Are you eligible and capable for the job in hand? First, you have to be over 18 and have a GED or general equivalency diploma.
After you pass those basic rules, you also need to make sure you are physically and mentally prepared for the job. Bail bonds can be a cruel business, and you have to be mentally prepared to deal with clients who can potentially go on the run or be violent.
If you think you fit the bill for the first step, you can move onto number two.
Step 2 – Get Training and Take the Test
You’ll find that some bail bondsmen claim the only way forward is to go to college and study law. While this can be beneficial in the field, it isn’t necessary.
While you’ll need a good understanding of how the law system operates, you can find the specialist knowledge provided by a law degree useful. This deeper understanding of how the law system works can be beneficial to you.
To get a bail bonds license, you’ll need to take a state exam or test. Some states might even require you to take a pre-licensing course to make sure you’re equipped enough for the job.
This bail bond training programme gives you a deeper understanding of the industry and the challenges you might face. You should also look at the state’s department of insurance to find schools that teach bail bondsman.
Once you’re trained, you can pay examination fees of around $100 to take the licensing test. It’s also not a bad idea to speak to your local sheriff’s department.
This can help to give you a better understanding of who else is doing bail bonds in the area if there’s much competition and you can begin to build useful relationships.
Step 3 – Apply for Your License
This step should be simple enough. You need to fill in the application form for a state license and pay any associated fees. You can find this form in the department of insurances website.
You’ll also want to submit the scores from your test. You’ll no doubt need to pass a background check.
Once you’re all clear, you’ll get a license lasting one to three years. A license renewal may require more testing, so make sure to keep up to date.
Step 4 – Spread The Word
Once you’re qualified, it’s about getting the word out and finding clients. Some people advise it’s a good idea to work for a bail bonds company first to get a deeper understanding of how the industry works.
But many just get started out right away on their own, like Bail Man Bail Bonds. They are a great example of how to get started with your own bail bonds business.
Like any business, you’ll find it useful to have a target market, so try and identify with a particular type of customer.
You could base your target market on social class, household income or other factors. You might find the local courts have a list of bail bond businesses, make sure to get added to this list.
Like any business, you’ll need to advertise your business to get more clients. Try word of mouth within the community, magazines and online advertisements to get the word out.
Will You Start Your Own Bail Bonds Business?
If you’ve been wondering how to start a bail bonds business, hopefully, this article has shed some light on the possibilities. It’s a unique business opportunity that can help you become well respected in the community and help individuals who need help to get justice.
For more ways to make money in different businesses, check out our guides on starting a business.