Security Sales & Integration March 2023 - 36

SPECIAL REPORT
SSI Hall of Fame Class
of 2023
HALL FAME
INDUSTRY
OF
Why He's on the List
▶ 50+ years' high-level security alarm industry
success, including more than 30 years
helping dealers via financial and business
support of Alarm Financing Services (AFS)
▶ Co-founded WKS with industry vets Ivan
Scharer and Sanford Kahn, later becoming
AFS, an aggregator of alarm accounts
▶ In 1967, bought and sold a Tele-Tector franchise
in Pittsburgh to lease CCTV cameras
Jim Wooster
President (semi-retired),
Alarm Financial Services
▶ In 1969, began to work for and then bought
Cleveland's Fidelity Alarm, a Dictograph
franchise, growing it from two to 75 employees
and 5,000+ customers; sold business to
Security Link in 1988
▶ Started (1982) San Diego's Sentinel Surveillance
Systems, selling to Pacific Video (1996)
▶ Founded Northeast Ohio Burglar & Fire
Alarm Assoc., co-founded Ohio Burglar &
Fire Alarm Assoc., was a chairman for ASIS'
Cleveland Chapter and a founding member
of the Dictograph President's Council
▶ Eager and willing to help colleagues, he has
been a frequent speaker at security industry
conferences and association meetings
THE WOOSTER FILE
▶ Born 1940, Syracuse, N.Y.
▶ One of two children,
father was a businessman,
mother a homemaker
▶ Married 58 years, with
three sons (Jim Jr. works
in security industry) and
seven grandchildren
▶ Earned undergraduate
degree in business
administration at
Syracuse University
▶ Says strangest career
experience was receiving
a bag of cash to install
outdoor CCTV, later
learning it was the home
of a mafia hitman
▶ Other interests include
traveling (to 40 countries),
voracious reading and
attending the theater
Keys to Success
" Getting involved with franchise networks, suppliers
and peers that educated me and gave me
directions, which I tried to follow. In operating
my alarm company, Fidelity Alarms, we were
successful by stressing communications with
our existing customer base, making visits and
calling each customer at least once a year. This
allowed us to uncover dissatisfaction, obtain
referrals and generate add-on business. It
made our customers know that we cared.
" AFS is a lender whose owners are experienced,
successful alarm dealers as their
backgrounds, as opposed to their background
being only finance. Our distinctive feature is
that we offer loans as low as $150,000 using
RMR as collateral. Throughout it all I have
found the best way to deal with challenges and
adversaries is to just do the right thing. "
The More Things Change, the More ...
" In the early days, I was undercapitalized and
ironically, my son Jim Jr.'s company now provides
capital for the industry. Entering the industry
today is not much different than when
I entered in 1967. The dealer programs that
would provide financing for a new company
36
Security Sales & Integration MARCH 2023
In 1969, Wooster bought Cleveland's Fidelity
Alarm, a Dictograph franchise, growing it from
two to 75 employees and 5,000+ customers.
Security Through a 50-Year Lens
" The introduction of digital dialers was huge.
The evolution of RMR as a primary driver for
success has been another key development.
We have also witnessed maturity of funding
and financial management through the years,
with the availability of capital through industry
lenders like AFS and industry-focused banks.
Probably the most influential change has
been the large investments from outside the
industry, with a consequence being consolidation.
Ahead I see new challenges surrounding
breakthrough technologies like artificial
intelligence. But I do believe the future for our
industry is bright, despite disruptions and the
normal vicissitudes of our economy. "
Show Me More Than the Money
" Providing money is one thing, but as experienced
alarm dealers we can assist in all
aspects of the dealer's business. This comes
into play especially when they are borrowing
from AFS to make an acquisition. We've been
through hundreds of these transactions, so
they benefit from our experience. "
securitysales.com
and instructions as to how to market, sell and
service are available. As your company grows,
bank and industry-specialized financings such
as AFS are available. I would always discourage
a dealer from selling accounts after
they've reached a certain level of production.
There are myriad challenges today. But there
are also an equal amount of solutions available.
With few exceptions, smaller dealers still
need to learn and implement fundamental
business practices. "
2023
http://www.securitysales.com
Security Sales & Integration March 2023

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