How do you make BillboardGui only visible locally?

I'm trying to make it to where you can see a BillboardGui on top of your team-members only, but I can't get it to work. This is in a LocalScript in Workspace.

wait(1)

local player = game.Players.LocalPlayer

if player.TeamColor == BrickColor.new("Bright red") then
    for _,v in pairs(game.Players:GetPlayers()) do
        if v.TeamColor == BrickColor.new("Bright red") then
            local tag = Instance.new("BillboardGui", v.Character.Head)
            tag .Size = UDim2.new(0, 50, 0, 60)
            tag .StudsOffset = Vector3.new(0, 4, 0)

            local frame = Instance.new("Frame", tag )
            frame .Size = UDim2.new(0, 50, 0, 60)
            frame .BackgroundColor3 = Color3.new(181/255, 0, 0)
            frame .BorderColor3 = Color3.new(181/255, 0, 0)

            local textLabel = Instance.new("TextLabel", frame)
            textLabel.Size = UDim2.new(0, 50, 0, 60)
            textLabel.BackgroundTransparency = 1
            textLabel.Font = "ArialBold"
            textLabel.FontSize = "Size48"
            textLabel.Text = "Friendly"
            textLabel.TextColor3 = Color3.new(1, 1, 1)
        end
    end 
end