Starting a bail bond business does not take as many resources as one would imagine. Typically, the owner needs $50000 worth of assets. They require a firm license, surety bond and have to incorporate the business under state law.

Growth Statistics: IBIS World expected increased revenue for the Californian bail bonds industry, with a projected growth of 2.7% in 2020 alone. In the last five years, the USA has experienced a dip in per capita disposable income and a sizable increase in the crime rates, particularly in states like Texas and California.

• Tough competition and widespread demand mean that the industry has no major players, with a market share greater than 5%. Nonetheless, some popular names include Iron Bail Bonds and All-Star Bail Bonds.
• A huge competitor is the slowly growing insurance company industry that underwrites bond contracts. However, bail bonds are much quicker and easier to obtain, and insurance cannot replace them completely.
• Market segmentation has shown that this industry turns a maximum profit in areas of property offenses, immigration cases, violent crimes, and public order issues.

The Use of Bail Service: Apart from selling bail bonds, these companies are also responsible for establishing personalized financing options for the premium fees. They also employ bounty hunters to track undertrials who ‘jump’ their bail.

• Opting for bail allows one to get out of the police custody while he waits for his trial to take place. Most bail bonds Ventura County businesses provide customized payment plans to cover the small 10% bond fee required as a down payment to post bail on your behalf. There are no additional charges, interests, or hidden fees of any kind.
• Bail businesses help one in his darkest hour. When one does not have any money saved up to pay the full bail amount, he can easily take the assistance of a bail bond service for securing a fast release. Getting bailed out will enable him to hire an experienced attorney to represent him in the courthouse.

Future of the Industry: Furthermore, as the industry, it is beneficial to customers and lucrative for investors. Hence, one is guaranteed a productive, well-financed relationship with bondsmen in the US.

• The number of licensed bail bondsmen is growing every year due to the perks and stable income. Furthermore, crime will remain as long as humanity, so will be the concept of bails is indispensable in a functional society.
• Usually, a bondsman has a significant starting salary in the $20,000 – $40,000 range. Once they gain enough experience and financial knowledge, and access to more opportunities, their salaries can easily exceed $100,000 per year. In comparison, doctors and lawyers in the US earn an average of $105,968 and $107,549 per year respectively.
• If one were to compare the qualifications required for the latter professions, one would realize the astronomical costs required in obtaining the degree and professional licenses required. In contrast, bail bondsmen only need to graduate high school or have a GED, pass the state licensing exam, and apply for a license at a minimal cost.

Some choose to pursue a bachelor’s degree or a diploma in a pre-licensing course, which are also cheap compared to graduate/professional schools. Thus, it is no wonder why bondsmen advance so quickly in their careers and quickly climb up the ranks. The latest reports suggest that the industry remains profitable. Currently, there are 25,000+ bail-bonds companies across the US (3200 licensed bail agents in California), with a market size of $2 billion. These businesses ensure freedom and pretrial release accessible to all.