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Here is a link to my Sep. 2021 Updated Version: • UPDATE!!! How much does it COST to start a... In this video I cover the costs associated with opening a private security company in California. Of course, my estimate of the costs involved will vary from your needs, however, I will still explain my rationale for each line item. If you are located in other states, you may still find this video informative as long as you disregard California-specific requirements and apply your state mandates. The worker’s compensation cost was based out of 10% of the yearly salary of the officer at $16/an hour x 160 hours x 12 months. Disclaimer: This video does not offer any legal or professional advice. I am not an attorney. The information presented in this video may or may not apply to your situation. Always review your business plan with an attorney or trained professional.