Startup Capital
In large cities, you'll find a great deal of competition for PI work. Don't let this be a deterrent. A good investigator is always in demand, and private investigation is a wide field, offering employment in many areas. If you're not interested in owning a business, alternatives abound. You may have an interest in:
Insurance-claims investigation
Process service
Background/pre-employment investigation
Bill collection and repossession
Business security/loss prevention
Hotel security
Financial/corporate investigation
Executive protection
Legal investigation
Bounty hunting
A loan is one way to obtain the startup capital you need to get your business up and running.
Although you can work for others doing these things, each of these services can also be offered on a contract basis to other businesses. Capital won't be a concern if you opt for a salaried position, but it is of primary concern when you start your own business.
Even if you work from home, you must consider the costs of equipment, supplies, advertising, and other essentials before you open for business. If you operate from a public location, the costs will be higher. If possible, visit a PI office and take silent inventory or ask an investigator. Realize that some of them will help you, but some are secretive or unaware of the benefits of networking.
You may consider borrowing money for startup or expansion, but be sure you have means of repayment. Include it in your business plan. Be especially careful of easily available high interest loans — this type of money will overburden your budget, and the interest rises like a rocket. Instead, consider investors.
Angel investors may be a good place to begin your search for startup or expansion capital. Angels are out there, but they aren't easy to find. Angel networks provide capital for entrepreneurs. Inc. Magazine compiled a list of angel networks worth investigating in 2005. You can find more information at
