Being a sub-contractor as a private investigator can be a great way to start or grow a private investigation business. It allows investigators to take on work from established agencies, while maintaining their own independent business. Here are a few things to consider when working as a sub-contractor:
Flexibility: As a sub-contractor, you have the flexibility to choose which cases you take on and when you work. This allows you to build your own schedule and work on cases that interest you.
Variety of work: Working as a sub-contractor can provide a variety of work that can keep the work interesting. Sub-contractors can work with different agencies and clients, which can lead to a diverse range of cases and experiences.
Minimal overhead costs: As a sub-contractor, you typically don't have the same overhead costs as a traditional business. You don't need to invest in office space, expensive equipment or pay for staff.
Established client base: Sub-contracting with established agencies can provide a steady stream of clients, which can be important for building a successful business.
Potential for growth: Sub-contracting can be a stepping stone to building a successful independent business. As a sub-contractor, you can build a reputation and gain experience, which can help you grow your business and take on more clients.
Legal and ethical considerations: It is important to be aware of the laws and regulations of your state and to conduct investigations within the boundaries of the law.
Potential for higher pay: Subcontracting can allow you to charge a higher rate for your services than you would as an employee. This is because you have more control over your rates and can negotiate directly with clients.
Reduced benefits: As a subcontractor, you're not an employee of a company and don't have access to the same benefits and perks that employees do. This can include health insurance, paid time off, and retirement benefits.
Increased responsibility for business expenses: As a subcontractor, you're responsible for your own business expenses, such as equipment, insurance, and office space. This can be a significant added cost and can be difficult to manage for those who are not experienced in running a business.
Lack of steady income: As a subcontractor, your income is dependent on the number of cases you're able to secure. This can be a challenge for those who are not experienced in marketing and sales.
Self-management: As a subcontractor, you're responsible for managing your own time and workload. This can be difficult for those who are.
Independence: As a sub-contractor, you are responsible for your own business and finances. This includes setting your own rates, managing expenses, and handling your own taxes. This can be both a blessing and a curse, as it allows for greater independence but also requires a high level of self-motivation and organization.
Networking: Networking is a key aspect of building a business as a sub-contractor PI. Building relationships with other professionals in the field can help you gain new clients and stay up to date with the latest industry developments.