How to Start a Locksmith Company

Locks are essential to doors as mattresses are to beds. Locks keep unwanted guests away while securing your property.
Sometimes out of negligence or security we need the services of a locksmith. Locksmiths provide two essential services unlock doors or provide sturdier locks.
They generally operate as sole proprietors and do lots of out-call at all hours of the day. While some prefer working the night shifts because it is more financially rewarding.
The job is highly rewarding and an established locksmith makes about $5000 monthly. An entrepreneur interested in the business should learn the trade. The business is practicable from home, large or small scale.
Types of Locks and Tools
Locksmiths work with different kinds of locks and tools. Some common locks they might encounter are listed below.
  • They deal with combination locks
  • Lockouts
  • Recombination keys
  • Master keying
  • Locksmith carry out lock installation
  • Take care of automobile lock outs
  • High security installations
  • Vaults
  • Door locks
  • Padlocks
How to Start a Locksmith Company
Startup costs are relatively low and the business lucrative. Locksmiths are in high demand providing essential services.
People that need the services are those locked out of their homes and for better security. Plan to succeed by writing a locksmith business plan.
Locating the Business
The office should be centrally located for better efficiency. Lease a property that has a good storage area, shelves and reception. Purchase office equipment such as printer, computer and dedicated telephone line.
Learn the Trade
You need comprehensive training as a locksmith. Attend vocational training classes, read books and manuals.
Attend practical training workshops and online courses. You need lots of practical experience so join and apprentice program.
Locksmiths generally learn how to install deadbolts, key locks and pick locks. Areas of specialization include residential locks, industrial locks and automobile locks.
Buy Equipment
Some locksmith equipment's are lock picks, different locks, key kit. Others are key duplicators, key cutting equipment, and generator.
Purchase equipment inline with your area of specialization. A large percentage of work is done outside the office 99%.
So you need a mode of transportation. Buy a secondhand vehicle for out-calls.
List of Equipment
  • key- coding machine
  • key blanks
  • voltmeter
  • copies
  • key-duplicating machine
  • drills
  • screwdrivers
  • micrometer
  • spare keys
  • lock picks
  • 10/2 volt outlets
  • padlocks
A locksmith could work alone or hire a secretary to receive calls. You could partner with a dispatch center for better efficiency.
Some locksmiths work late into the night which is very stressful. Try to define your work hours and stick to it.
What are your Charges?
The charges aren’t cheap and customers sometimes feel cheated. Find out what your competitors are charging and create a reasonable price chart.
What are the legal requirements?
Register the business name and get insurance cover. The legal requirements to operate your trade differ from each state, county and province.
Find out what is obtainable in your own locality. Once you have acquired a permit choose a locksmith specialization.
You could focus on automobile locks or residential homes. Determine your organizational structure for better efficiency.
Marketing Considerations
Network with local businesses in your area and use electronic or print media to reach customers. Build a targeted website to attract local patronage.
Talk with door retailers in your area for referrals. Other methods include adding your company profile in directories and yellow pages. Try to secure commercial accounts for regular jobs.
Technology constantly improves so you need to stay abreast of the game. Purchase quality equipment and provide good service.
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