Starting and managing a bail bonds business can be daunting. But, when you have the right tools and strategy, launching and growing a successful bail agency is attainable. When you are just starting your business, a large team isn’t possible, and you’ll want to leverage as many tools as possible to run your business efficiently. If you have a large established agency you’ll also want to streamline your operations, reduce cost, and increase efficiency. Here’s how to start or manage your bail bonds business with fewer people.
1. Get Organized
If you’re just starting out, starting a new bail bond agency before you’ve gotten organized and set yourself up for success can be disastrous at worst, and frustrating at best. Create your business plan, get feedback, and plan as much as possible before launching. This will help you stay on track. It will also help you understand which tasks need to be completed when, so you don’t end up scrambling for a last-minute deadline.
If you’ve been in the business for years it’s likely you’ve created your own solutions to many problems that an established agency encounters. Perhaps you’ve got spreadsheets for tracking open liability, another for forfeitures, and yet another for internal communications and notes on your daily phone calls. Maybe you’ve got a binder full of credit card authorization forms that your staff runs every Friday and a pile of unassigned powers that staff grab on their way to post bail.
Regardless of how you’ve overcome obstacles you’ll want to step back and get a birds eye view of your day to day operations and determine where staff is spending the majority of their time. Once you’ve done this you’ll quickly see bottle necks and areas where your staff are doing a lot of menial and repetitive work. This work should be done by a software, not a person.
2. Consider A Surety Company
You might be tempted to skimp on a bail surety provider to save money or because you’re a property / cash agent. But, when you work with a great bail insurance company, there are often many benefits that can be extremely helpful for new agencies. Working with a company that offers benefits such as recovery assistance, property and people searches, 24/7 large bond approvals, credit checks, and more is extremely helpful when first starting your business. Look at your bail surety company as a partner, and you’ll choose a company that offers many benefits that will save you time in the long run.
If you’re an established agency you should check in with the surety providers from time to time as they are constantly evolving and adapting to the business just like you are. Who knows, maybe you’ll find a better company to switch to or new benefits will tip the scales for you.,
3. Get an All-in-One Bail Software
Writing bonds can be a simple process if you have the right software. If you don’t have the right solution, you’ll need a plethora of different software subscriptions to handle every aspect of your bond. You’ll need an eSignature provider, accounting software, a payment provider, a bail app and bail software, just to name a few. Instead of trying to integrate, manage, and keep track of multiple software (that aren’t meant to integrate), use a complete bail software solution. This will save you an enormous amount of time, and allow you to compartmentalize what needs to get done, and when it needs to be completed.
With the right bail bond software you’ll be able to handle much more internally, without the need to hire any additional help. You can also free up existing staff to focus on more important tasks that are geared towards growing the agency instead of just treading water. EBAIL™ was founded to allow bail agency owners and staff the ability to focus on increasing their bottom line and growing, while also delivering outstanding service. When you’re just starting, you don’t have the resources to hire staff to handle all the different tasks. You need to be able to run your business on your own, or with a partner, without being overwhelmed.
If you’ve got a large agency, you need a solution that organizes and clarifies the often messy workflow and paperwork clearly and concisely so you’re not experiencing the stress of constantly keeping tabs on defendants, court dates, forfeitures, payments, collaterals, petty cash, commissions, on and on and on. EBAIL™ makes this possible. With our complete software, you get everything – from client management and payment tracking to reports and and power management: All in one dashboard.
Manage Your Business with Fewer People and Grow
When looking at managing your bail bonds business with fewer people, there are many things to consider. Getting organized from the start, reviewing partners and surety providers for access to helpful resources, and using an all-in-one bail software to streamline your processes is essential to running your business efficiently, and with as few people as possible.