Growth in numbers

New office, increasing revenue means there is a full plate for Trico Security
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Wednesday, September 1, 2004

LEXINGTON, Ky. - Recognizing an opportunity to serve a wider range of clientele, Trico Security has moved out of its previous location in Richmond, Ky. - trading up to a new office here.

The company, which provides guard services in Kentucky, and CCTV and camera installation in Ohio, now has four locations throughout the two states. The new location, which is roughly 1,000 square feet of space, will focus on providing security guards. But the company is seeing business grow in both disciplins.

“We’re doing well,” said Peter Wood, vice president of the company. “We’re an up and coming company.”

The business, which employs 700, including guards, according to Philip Williams, operations manager at the Lexington location, plans to continue along its path of success - choosing to stay focused on current areas of business.

“We try not to be one of those companies that try to do everything,” Wood said. ‘”We stick to what we do best.”

Instead of branching into other areas of service, Trico utilizes its coalition partners, which include General Solutions, card access and photo identification company Integrated Precision Services, and CCTV product provider Kalatel, a GE Security brand, for projects a client may need that falls outside the realm of Trico’s guard and installation services. All member companies work in conjunction - providing referrals to each other if an opportunity arises.

“Our coalition group is very strong,” Wood said. “There is a large crossover in sales from the coalition.”

The work from referrals and the new location has added to the company’s workload. Trico is booked with CCTV and camera installation projects until February 2005 and has had to refrain from scheduling additional jobs.

“We’ve had to pass up work,” Wood said. “It wouldn’t be fair to current clients if we overextend ourselves.”

But the company is actively hiring and purchasing vans to keep up with the workload, which has especially grown in the installation end. Wood said the company is completing up to 40 installs per year, bringing in approximately $1 million - up from the $150,000 in total revenue through the CCTV business that company brought in three years ago. But Wood said the increase is controlled.

“We’ll grow, but we’ll grow slowly,” Wood said.