SSI Industry Hall of Fame Introduces 2023 Inductees
Join us in welcoming a diverse lineup of remarkable individuals to our HoF roster.
Jim Wooster | President (semi-retired), Alarm Financial Services
Bio
- Born 1940 in Syracuse, N.Y.
- One of two children, father was a businessman, mother a homemaker
- Married 58 years, with three sons (Jim Jr. works in security industry) and seven grandchildren
- Earned undergraduate degree in business administration at Syracuse University
- Says strangest career experience was receiving a bag of cash to install outdoor CCTV, later learning it was the home of a mafia hitman
- Other interests include traveling (to 40 countries), voracious reading and attending the theater
Why He’s on the List
- More than 50 years of high-level security alarm industry success, including more than three decades helping dealers through the financial and business support of Alarm Financing Services (AFS)
- Co-founded WKS with industry veterans Ivan Scharer and Sanford Kahn, later becoming AFS, an aggregator of alarm monitoring accounts
- In 1967, bought and sold a Tele-Tector franchise in Pittsburgh to lease CCTV cameras
- In 1969, began to work for and then bought Cleveland’s Fidelity Alarm, a Dictograph franchise, growing it from two to 75 employees and 5,000+ customers; sold business to Security Link in 1988
- In 1982, started Sentinel Surveillance Systems in San Diego, selling it to Pacific Video in 1996
- Founded Northeast Ohio Burglar & Fire Alarm Association, co-founded Ohio Burglar & Fire Alarm Association, was a chairman for ASIS’ Cleveland Chapter and a founding member of the Dictograph President’s Council
- Eager and willing to help colleagues, he has been a frequent speaker at security industry conferences and association meetings
Keys to Success 
“Getting involved with franchise networks, suppliers and peers that educated me and gave me directions, which I tried to follow. In operating my alarm company, Fidelity Alarms, we were successful by stressing communications with our existing customer base, making visits and calling each customer at least once a year. This allowed us to uncover dissatisfaction, obtain referrals and generate add-on business. It made our customers know that we cared.
“AFS is a lender whose owners are experienced, successful alarm dealers as their backgrounds, as opposed to their background being only finance. Our distinctive feature is that we offer loans as low as $150,000 using RMR as collateral. Throughout it all I have found the best way to deal with challenges and adversaries is to just do the right thing.”
The More Things Change, the More …
“In the early days, I was undercapitalized and ironically, my son Jim Jr.’s company now provides capital for the industry. Entering the industry today is not much different than when I entered in 1967. The dealer programs that would provide financing for a new company and instructions as to how to market, sell and service are available. As your company grows, bank and industry-specialized financings such as AFS are available. I would always discourage a dealer from selling accounts after they’ve reached a certain level of production. There are myriad challenges today. But there are also an equal amount of solutions available. With few exceptions, smaller dealers still need to learn and implement fundamental business practices.”
Security Through a 50-Year Lens
“The introduction of digital dialers was huge. The evolution of RMR as a primary driver for success has been another key development. We have also witnessed maturity of funding and financial management through the years, with the availability of capital through industry lenders like AFS and industry-focused banks. Probably the most influential change has been the large investments from outside the industry, with a consequence being consolidation. Ahead I see new challenges surrounding breakthrough technologies like artificial intelligence. But I do believe the future for our industry is bright, despite disruptions and the normal vicissitudes of our economy.”
Show Me More Than the Money
“Providing money is one thing, but as experienced alarm dealers we can assist in all aspects of the dealer’s business. This comes into play especially when they are borrowing from AFS to make an acquisition. We’ve been through hundreds of these transactions, so they benefit from our experience.”
Biggest Wish for Industry Change
“Focus on positive solutions and stop whining about negative influences.”
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About the Author
Scott Goldfine
Scott Goldfine is the marketing director for Elite Interactive Solutions. He is the former editor-in-chief and associate publisher of Security Sales & Integration. He can be reached at [email protected].
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