Businesses using video cameras for both interior and exterior security is nothing new. Technology has advanced to the point where the cameras can actually serve as virtual sales associates as well. A pair of Maryland-based entrepreneurs have leveraged these benefits in their state-of-the-art car dealership security company.
In 2011 President R.T. Arnold and CEO Rush McCloy purchased a small video security company in Annapolis called Eyewitness Surveillance after raising the money through a search fund called Channelstone Capital Partners. They underwent a rigorous “audition” for their largest shareholder, Peterson Partners in Salt Lake City, which had experience owning security companies.
Eyewitness had already made some headway in the auto dealership market, which is a factor that made the company attractive to Arnold and McCloy. Clients sign multi-year contracts, paying between $1,300 and $2,000 for a 12-camera system.
In less than four years, Eyewitness has doubled its revenue to more than $5 million. At the time of purchase, the company was doing business only in Maryland and DC, but has since expanded into a total of 10 states. Profit is estimated to be between $500,000 and $1,000,000, but right now it all goes back into the business. There are currently 17 investors, although Arnold and McCloy can receive more ownership shares based on the company’s performance.
The cameras in the car dealership security model are backed with a sophisticated analytics software system. In addition to sweeping the lots for signs of suspicious activity, they can also scan for potential buyers who can become new customers as they browse the lot during off-hours. Dealers place signs in windshields instructing interested parties to text a specific number. The Eyewitness software then reroutes the message to a salesperson who can then call the customer immediately.
Eyewitness protects the car dealer from financial loss of another kind. The cameras are aimed at cars entering the dealership’s service area to document existing dents and scratches. Footage can then be used to defend against any false damage claims.
With your buildings and grounds protected, enjoy that same measure of car dealership security on your individual vehicles. Contact us to learn how our Next Generation GPS tracking platform secures assets while increasing profits.