SALT LAKE CITY, UTAH — PEAK Alarm Company becomes completely debt free, lowers attrition, raises wages and, and still generates a profit despite challenging inflation and supply chain issues from a global pandemic.
Recognized as Security Dealer Magazine’s Dealer of the Year, PEAK Alarm shows resilience and overcomes obstacles by putting its employees and customers first. “All of these things happened at the same time COVID was happening,” said Fred Johnson, CFO and vice president of PEAK Alarm. “We didn’t know what was going to happen or if we would even have a company after this.”
PEAK Alarm is a family-owned business based in Salt Lake City, Utah, and has been a leader in security products and services for more than 50 years. In 2021, as the pandemic loomed, the team had to get creative to keep the business moving forward.
PEAK Alarm implemented several tactics to help the business thrive. To become debt free, the company began a new security response division named Peak Security, employing an average of 200 security officers. The division allows the company to reduce financing while giving them an edge in customer service offerings.
With new services in full swing, the company began refocusing on its strong family culture. PEAK Alarm increased the average salary by 5 percent in 2022 and then again in 2023. “We went out on a limb, and luckily the results followed,” said Johnson.
PEAK Alarm estimates an annual revenue of $30.5 million and $830,000 in RMR for 2023. The company is on track to meet and even exceed projections. PEAK is using the new surplus of funds toward cybersecurity and marketing efforts. The company has partnered with the AMPED marketing agency to launch a new website and ongoing blog to reach more customers than ever before.
About PEAK Alarm Company
With more than 50 years in the field, PEAK Alarm is one of the largest independent security agencies in the nation, with six branch offices in Utah and nearby states, nearly 400 employees, and 17,000 customers. Fully licensed, UL listed, and 5 Diamond Certified, the family-owned and American-made company offers full-service security solutions to families and businesses. Read the full article from SDM here.