This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

As Part Of Upcoming Webinar, PI Profits Founder Paul Beauchemin To Discuss 5 Hidden Growth Traps For A PI Business And How To Solve Them

AURORA, N.Y., July 22, 2013 /PRNewswire/ -- Private investigation firms struggling to maintain profitability should circle August 7 on their calendars. Paul Beauchemin, founder of niche marketing agency PI Profits ( http://piprofitsagency.com/), will be hosting a free webinar to discuss the challenges and opportunities associated with running a PI firm. Among the topics covered will be the 5 hidden growth traps that plague all PI firms, as described below.

(Photo:  http://photos.prnewswire.com/prnh/20130722/PH50275-a)(Logo:  http://photos.prnewswire.com/prnh/20130722/PH50275LOGO-b)

Government Regulations

Laws designed to protect privacy often leave no wiggle room for private investigators. Fraudsters can seek shelter under such laws, confident that their DMV and phone records are secure.

From a human resources perspective, the Affordable Care Act is an enormous burden on medium-sized PI firms. Although implementation of certain aspects of the law has been put off another year, it's unlikely to be struck down entirely.

Low Profitability

Growth is a reasonable expectation of any small business, but a myriad of economic factors are conspiring to limit growth for PI firms. In 2012, net profits in this sector averaged from 1.8 to 7%; at the lower end of that range, a company is barely treading water. For that same year, the median income of a PI employee was only $28,000, making recruitment and retention a significant challenge.

Cash Flow Problems

The perennial problem of even highly successful private investigation firms is the slow or non-paying client. Some firm owners go many weeks between paychecks as they struggle just to pay bills. The total dollar value of uncollected or "goodwill" payments filling the books of PI firms is likely astronomical.

Meanwhile, because entering the PI market requires relatively little upfront investment, it's easy for competitors to wade in and crowd the pool. A firm teetering on the brink of failure need only lose one or two clients to fall off entirely.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs