93 Year Old Family-Owned Dealer Reveals New Growth Strategy
Spotlight on: Doyle Security Systems
|John Doyle, Doyle Security Systems’ president and CEO represents the fourth generation of Doyle family management for the company.|
With nearly 23,000 subscribers, of which roughly 60 percent are residential customers, Doyle Security Systems Inc. Rochester, N.Y., is currently ranked No. 44 by recurring monthly revenue in the SDM 100. The company is one of those rarities of the security industry that have managed to remain family-owned and operated for nearly a century. Doyle Security Systems has done this while maintaining success, growth and a first-rate reputation — they’ve even been awarded by the Better Business Bureau.
The company was founded by John A. Doyle on St. Patrick’s Day, 1919. A. Doyle was the great grandfather of the company’s current president and chief executive officer, John Doyle, who told SDM that legacy of four Doyle generations of ownership and management is not only a source of pride for himself, but for the entire company.
“You don’t see that a lot today,” Doyle noted. “But we think it helps make us a better company because we operate with the values that have been passed down through generations: focusing on the customer, honesty, integrity, working hard. Those values put us in a great position to succeed. And it really comes from that family history.”
The values endure, but Doyle Security Systems isn’t the same business it was 93 years ago. The company has an eye on growth, not only in size but also in services, and recently developed a robust program for expansion.
One of the primary points of that program is growth of the company footprint in N.Y. and Pa. into New York’s capital district. The company recently made progress on this goal with two strategic acquisitions in the Albany region and inauguration of a new branch office in the area.
Doyle commented that the two companies acquired complement Doyle’s existing customer base with a similar mix of commercial and residential customers. “We think we can grow [the Albany] branch quite a bit. New York is a growing market and we’re getting into medical monitoring there in addition to residential and commercial burglar and fire alarm, so we’re looking at some very strong growth.”
Those new medical monitoring services are the second avenue of expansion in Doyle’s growth strategy. The senior residential market has been a high growth area, Doyle observed, and one the company planned to enter for some time. Coincidentally, the expansion into Albany and the roll-out of Doyle Medical Monitoring “came together at the same time,” Doyle said, which gives the company an advantageous position to offer additional services to its newly acquired customers as well as having a larger customer base to help get the new service offering off and running.
Doyle explained, “We’d recently expanded into the Albany area with a direct sales and support staff for the medical monitoring. Coincidentally, at the very same time, we were working on these two acquisitions. We were ready to move forward with either independently but it just so happened that it came together at the same time. And that’s a real plus for us, too.
In addition to the new medical services, Doyle’s strategy identifies existing services that will be expanded. Doyle noted that second to providing outstanding service, being able to offer innovative services sets the company apart from its competitors. The company will pour significant resources into growing its Doyle Total Connect home automation and security system management platform. Total Connect allows users to manage lighting, thermostats, video cameras and home security systems using a smartphone or laptop, the company added. In addition, expanding monitored access and IP video for small commercial customers will also be a point of focus for the company.
While it does seem like a lot of new ventures at once for the company, they all serve a common purpose: to better serve existing customers and attract new ones in order to increase market share in an area the company has identified as a growing market.
“Our focus will definitely be in increasing market share in the markets we are in, including our new office in Albany,” Doyle commented. “We’ll do that by working very hard to retain the customers we have and provide the best service that can be had in our industry.”
He continued, “We think there is a lot of opportunity to grow the new products and services mentioned, including medical monitoring. We’re looking for additional acquisitions, and again our top priority will be the markets where we already are, especially Albany. But more than anything, doing a great job for our existing customers is really important to us and has been really key to our success. Some parts of the economy in our market area are challenged and providing the best services that can be had out there is vital.”