Understanding the Cost of a Break-In
A lot of people don’t think of security until they have to. In many cases, that’s too late.
Many businesses only install security gates and other physical security tools once their property has been broken into. There are some cases where a business owner doesn’t act until the business has been victimized by smash and grab criminals more than once. Why not?
For many, the reason is cost. Business owners are worried that installing an effective physical security system will be too expensive. They would rather take the risk of their business being broken into. However, the reality is that smash and grab robberies are incredibly costly. These costs are almost always much greater than the cost of installing security before a crime happens.
There are a number of reasons why robberies are so costly:
- Smash and grab robbers typically look for small yet high value items. This is because one of their main goals is to get in and out of a property as soon as possible.
- Commonly stolen items include electronics (cell phones, tablets, laptops, etc.) as well as jewellery, firearms, prescription and over-the-counter medication and other similar items.
- Smash and grab robbers can steal tens of thousands of dollars in merchandise in just a few minutes.
- Smash and grab robberies usually cause significant property damage.
- These robberies are violent. Criminals do not care about the state of the property. They want to get inside as quickly as they can, steal what they are looking for and flee the scene. In the process, they smash windows, damage doors, destroy display cases, break merchandise and cause much more chaos.
- As you can tell, these crimes cause significant damage which can be very expensive to repair.
- Businesses typically have to close down temporarily following a break-in.
- After a smash and grab robbery, most businesses need to shut down for at least a little while. There are a number of reasons for this. One major one is that there is work to do after a break-in. You need to contact the police and file a report. You need to speak with your insurance company. You need to make sure that you replace the merchandise that was stolen and repair the damage that was done to your property. These processes are time-consuming.
- Shutting down, even for just a day or two, can have negative consequences. You obviously lose business during those days. For many companies, even a couple of days of lost sales can be very detrimental to the bottom line.
- Customers may even choose to shop elsewhere after a break-in. This could be because they show up and find that your company is closed. However, it could also be that they do not “feel safe” shopping at a property where a crime has taken place. While such fears are largely irrational, such situations do happen.
As you can see, a smash and grab robbery is very costly, time-consuming and potentially devastating for a business. Unfortunately, we have heard several stories of business that have had to close down permanently due to losses suffered in a smash and grab.
The good news is that you can protect yourself and your business by taking steps to secure your property before a crime takes place. While there obviously is a cost to having security gates installed, this cost is significantly lower than the expenses that your business could be faced with if your property is broken into.
Want some more helpful tips to improving the security of your business? Download our helpful guide to Improving Your Security Mindset.