Wanting to start my own Security Company, and have questions regarding competition and contracts.

Question on starting a business that is highly competitive, and not retail. I am wanting to start my own armed security company. Ive been in security for around 10 years now, and have a very good understanding of how it works. Ive been in upper management positions within companies as well. However, In my area there is one other armed security company but loads of unarmed. I think there are 5 or 6 in my area. How does a person open a security firm and bid for contracts that these other companies will certainly underbid? The company with the most contracts pays their guards $9/hr. How could i ever hope to win a contract from them, when businesses are so profit driven, and that security company will most certainly undercut anyone else? As for background checks, how do I get my foot in the door to these companies, when they have used the same security firm for years? I feel like without having a large network of high level company executives, security is impossible to just start up.​A friend of mine told me to use the line, "Security is not an expense, but an investment." And while that may be true, and sound good to people. Its a laughable remark to a company that is out for the bottom dollar. I know how much I would need to make from contracts to keep my employees paid, and the business moving forward, but I just dont see how its possible with other companies willing to pay their people pennies, so they can win contracts. Any advice would be very helpful in this matter. see hubwealthy.com/wealthy