There’s a new wave of businesses sweeping the Atlanta metropolitan area, and that is in the industry of bail bonds. Let’s think about it this way. The more people commit crimes, the more people there are that need bailed out of jail, right? The things that contribute to the increased need for these services are the general rise in numbers of the human population and the increase in unemployment. When these two things rise, so does the crime rate. When there are more people committing more crimes, a bail bondsman comes to the rescue. However, this franchise also has some potential drawbacks.
To get a good feel of how bail bonds work, here’s a little back story. It used to be that people got arrested all of the time without due process. Only until recent years did the Supreme Court favor the rights of the accused. The Miranda Rights are an example of this. Where a bail bond comes in handy is when a person doesn’t have the money to put up their own bail out of pocket. A licensed bail bondsman will vouch for the person and put up the bulk of the bail money. This is a type of insurance for the court. The accused person in need of the service will only have to put up around 10% of the total bail along with some additional forms of collateral in most cases.
The industry can be pretty lucrative. Just like most insurance franchises, you have to be aware of the risk involved. The most profitable bail bondsman agency owners have very systematic and structured ways of determining risk. If a person is not likely to show up for their court date, then you don’t want to insure them. You could be out thousands of dollars. On the other hand, though, if a person is almost guaranteed to show up to court (usually because they have too much to lose). These are the types of customers you want.
The best way to get into the bonding industry is to work for an existing agency for a while and learn the ropes. This way you can find out all of the little intricate details and legal issues surrounding the general daily activities. They aren’t really all that complicated, but you just have to be in the industry for a while so you understand how they fit all together.
Hopefully our little blurb on bail bonds franchises will help you in your future endeavors!
Bail Bonding Now
235 Peachtree Street Northeast #400 Atlanta, Georgia 30303