Have you been thinking about changing careers? You’re not alone!
According to studies, the average person changes jobs 12 times in their lifetimes. There’s no shortage of unique and interesting things a person can do, and one of the most exciting is becoming a bail bondsman.
Since this isn’t a super-common career choice, you may have a lot of questions. For example, how do bail bondsmen make money? And how do you get started in this career field?
Don’t worry, you’re in the right place! Here’s everything you need to know before starting your new career.
1. You’ll Need to Meet Some Minimum Requirements
The first step you’ll need to take is ensuring that you meet all of the eligibility requirements. Then, you’ll need to become a licensed bail bondsman.
To qualify for this career, you need to be at least 21 years of age, have a high school diploma, and you must have been a resident of the state of NC for at least six consecutive months. You’ll also need a valid North Carolina drivers’ license or identification card.
If you’ve had a felony conviction, have outstanding bail obligations, or have violated certain North Carolina statutes, you won’t be able to pursue this career. Those who are currently employed by the North Carolina police or legal system are also unable to pursue a career as a bail bondsman.
As long as you meet all the requirements, your next step is to complete the licensing exam. To do this, you’ll send your information into the state, take a pre-licensing class, submit your fingerprints, and take the exam. If you pass the test, you’ll receive your initial license.
The class will set you back between $400 and $500, and the test will cost you $56.50. This is one of the best investments you’ll ever make in yourself, as it’s the first step in launching an incredibly lucrative and rewarding career.
The license you’ll receive allows you to become an “apprentice” under a practicing bail bondsman for a period of one year. After that, you can apply for your professional license and start working for yourself. The hands-on experience you’ll gain during this first year is worth far more than what you can ever learn by reading a textbook.
2. You’ll Have a Lot of Flexibility
When you own a bail bondsman business, you are your own boss. You can make your own schedule, and, as long as you follow industry rules, you can run the business the way you want.
This includes setting your own hours, choosing whether to work full or part-time, and hiring people to perform the tasks you don’t want to do. You’ll no longer have to answer to a boss or deal with a long commute and other stressors that come with a typical 9 to 5 job. For many, this is reason enough to take a step away from their current careers.
3. You Can Make Great Money
The average annual bail bondsman salary in North Carolina is just over $37,400. However, if you own your own business, your earnings potential is literally unlimited. How much you earn will depend on how business savvy you are and how much work you’re willing to put into growing your business.
4. It Is Hard Work
While being your own boss and helping people regain their freedom is incredibly rewarding, it’s important not to make the mistake of thinking this isn’t going to be hard work.
When someone posts bail, they pay you 10% of the bail amount, which is non-refundable. However, if they fail to show up for their court date, you’re obligated to pay the full bail amount to the court.
To protect yourself, you’ll usually require the person to put up something for collateral. This could be cash, property, or even cars. To ensure you make money and don’t end up on the hook, you’ll need to make sure you have strong, enforceable agreements in place.
To ensure you’re successful, you may also need to have a certain amount of supervision over the person whom you’ve bailed out. You may require them to check in weekly or even more often to make sure you don’t end up with any surprises when the court date arises.
You’ll also need to keep up with licensing requirements. This includes completing three hours of continuing education each year and completing renewal requirements every other year.
5. You Don’t Have to Do it Alone
Setting up your own business can be overwhelming, but you don’t have to do it on your own. Consider partnering with a company, like us, who can provide you with the education and guidance you need to truly succeed.
This includes showing you how to set up your business, how to properly maintain your records, and how to handle client relations and customer service in a way that will help your business thrive. We will also teach you everything you need to know about posting bonds, accepting collateral, handling forfeitures, skipping trace, and more.
We provide 24/7 live support, access to the forms and documents you need, and support for your technology, legal, and marketing needs.
That’s What All Bail Bondsmen Should Know
Now that you know the basics of joining other bail bondsmen, you’re ready to take the first step towards starting your new career. At Amistad Bail Bonds, we’re always looking for motivated people to join our team. Start your registration today and learn how we can help!