The Vision InSites Podcast
Scaling Through Setbacks: Kevin Behunin on Leadership Risk
Buying a security guard company can accelerate growth — or expose hidden risk. In this episode, Kevin Behunin shares hard lessons on valuation, leadership, and scaling through setbacks.
The Vision InSites Podcast
Scaling Through Setbacks: Kevin Behunin on Leadership Risk
Buying a security guard company can accelerate growth — or expose hidden risk. In this episode, Kevin Behunin shares hard lessons on valuation, leadership, and scaling through setbacks.
The Vision InSites Podcast
Scaling Through Setbacks: Kevin Behunin on Leadership Risk
Buying a security guard company can accelerate growth — or expose hidden risk. In this episode, Kevin Behunin shares hard lessons on valuation, leadership, and scaling through setbacks.
Kevin Behunin | September 16th, 2025
Kevin Behunin | September 16th, 2025
Why Kevin Entered the Security Industry Through Acquisition
Kevin didn’t enter the industry through operations. He entered through acquisition.
After years working in technology consulting and private equity environments, he became interested in buying cash-flowing businesses rather than building from scratch.
| “I started looking for businesses to buy. I stumbled upon this guard business and started the conversation with the broker to arrive at a deal.”
The appeal was clear: immediate revenue, existing contracts, and operational infrastructure already in place.
But as Kevin quickly learned, buying a security guard company is very different from advising on a $100 million acquisition.
| “I had a steep learning curve right away. I had a lot to learn about this industry that I knew nothing about.”
The Biggest Risk in Acquiring a Guard Business
One of the most important lessons from this acquisition was customer concentration.
The company Kevin purchased generated the majority of its revenue from a single client.
| “They only had one customer, one real customer… It produced greater than 80% of their revenue.”
That level of dependency creates extreme risk. If that client leaves, the business can collapse overnight.
Kevin now warns buyers to be cautious:
| “Be careful about businesses that only have one client that they work with on a regular basis.”
When buying a security guard company, diversification isn’t optional — it’s foundational.
The Biggest Risk in Buying a Security Guard Company
Security companies are service businesses. That directly impacts valuation.
Kevin explains that most professional service companies trade at modest multiples:
| “The sticker retail price for a business that does $5 million a year and maybe does 10% net cash flow is going to be at most three times the annual cash flow.”
For example:
$5M revenue
10% net margin ($500K cash flow)
3x multiple
Estimated valuation: ~$1.5M
That reality surprises many sellers. Revenue alone does not determine value. Stability, documentation, client mix, and operational discipline drive the multiple.
Operational Accountability After Acquisition
Acquiring the company was only the beginning.
Shortly after closing, Kevin discovered major accountability gaps within the guard team. There was no reliable system to verify patrols or shift performance.
His solution was immediate.
| “I immediately instituted accountability software so that we could be accountable to our client and say, ‘Hey, we are there. We are patrolling.’”
Some employees resisted the change.
| “I had two people quit because now they had to be accountable for that shift.”
But long-term value depends on discipline. In the security industry, weak oversight can cost you contracts fast.
As Kevin put it:
| “It takes maybe up to 12 or 13 months to acquire a client… but you can lose it very quickly.”
Scaling Through Setbacks
Kevin is candid about the early challenges of ownership.
| “If I had this conversation with myself today, I would’ve warned my older self to not buy this company because it had a lot of red flags.”
That honesty is important.
Buying a security guard company is not just a financial decision. It’s a leadership decision. Systems must be rebuilt. Culture must shift. Expectations must tighten.
Scaling happens only after operational stability is secured.
Watch or Listen to the Full Episode
To hear the full conversation with Kevin Behunin on buying a security guard company, leadership risk, and valuation realities, watch the latest episode of the Vision InSites Podcast.
Watch the full episode on YouTube
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About Vision InSites
Vision InSites is built for private security operators who need structure, visibility, and accountability as their organizations grow.
Buying or scaling a security guard company requires more than staffing — it demands operational clarity, documented processes, and real-time insight across sites. Vision InSites centralizes reporting, activity tracking, and performance oversight so leadership teams can maintain standards while expanding responsibly.
Whether you’re stabilizing a recent acquisition or scaling an established portfolio, Vision InSites supports the systems required to grow without losing control.
Book a demo to see how Vision InSites supports modern security operations.