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How to Start a Locksmith Company – Sample Business Plan Template

Do you want to start a locksmith company from scratch with no money? Or you need a sample locksmith business plan template? If YES, then i advice you read on. If you have ever been locked out of your car, home or office because you misplaced your keys, then you just would appreciate the services of locksmiths. As a matter of fact you will be more anxious to get a locksmith to come to your aid if you forget the locking code of your safe.

Locksmiths provides essential services such as cutting keys, re-key locks, maintain and repair old locks, helping people gain access to their cars, resident and offices when they misplaced their keys, helping people unlock their safes when they forget the code combinations and helping people installs locks et al.

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Starting a business as a locksmith is indeed a profitable venture to start but you must first acquire the required training, and then work as an apprentice for a while, before applying for a locksmith license.

Although, a locksmith business is considered to be a small scale business, but it is regulated by the government to ensure that criminal elements in the society don’t take advantage of people. There are various aspects you can specialize in as a locksmith, you can specialize as a residential door locksmith, you can specialize as an automotive locksmith, or you can specialize as a safes and security locksmith.

If you are thinking of becoming a locksmith, then you should pay attention to high school subjects such as metal work, math and physics. It will give you the right foundation to build your career. Besides, if you want to enroll for locksmith training in any college, the college might likely request that you pass metal work, physics and math before you can be granted admission.

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Although the duration for locksmith courses in colleges is between 10 to 12 weeks, but you will also be required to work as an intern (apprenticeship) for few months with a certified locksmith before you can be issued a certificate. You can actually acquire locksmith training online. Now let us quickly go through the 5 steps to follow to be able to start your own locksmith business;

Starting a Locksmith Company – Sample Business Plan Template

1. Get Trained as a Locksmith

The training that is required before you are qualified as a locksmith is in two folds. You would first be required to take some courses from a college or a technical school and then you will be assigned to work as an apprentice with a certified locksmith before you can be licensed to work as a locksmith. The bottom line is that you can’t work as a locksmith without being trained to do so.

During the course of your training, you can choose an area to specialize in. The various areas you can specialize as a locksmith are, automotive locksmith, residential door locksmith, and safe and security system locksmith. Before choosing an aspect of locksmith to specialize in, ensure that it is an area that will guarantee you steady flow of income.

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2. Apply for the Required License and Permits

After you must have undergone both the academic and on the field training as a locksmith, then you should approach the local authority in your city to make enquiries and apply for a locksmith license. In the US and in most developed countries, it is illegal to work as a locksmith without first obtaining a license and permit from the government.

3. Acquire the Required Working Tools

Part of where you are expected to spend the bulk of your startup capital on when establishing your own locksmith business is in the purchase of the required tools. The tools you should purchase to be able to launch your locksmith business are; key duplicator, code cutting machine, lockout kits, lock picks sets, re – keying kits and generator. You would also be required to purchase a utility vehicle to convey your tools from your office to the site where you are expected to work.

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4. Choose a Location to Start Your Locksmith Business

No doubt the location you choose to establish your business no matter the nature of the business definitely influences your business either positively or negatively. So before deciding on what location to start your locksmith business, ensure that you consider the following factors:

  • The numbers of certified locksmith in that area
  • The population in the area, the number of cars in the area
  • The nature of the construction industry in that area and other factors that will be to your advantage.

All the factors listed above will be taken care of in your locksmith company business plan. As a matter of fact, you can start your locksmith business from your home as long as you have enough space to keep your working tools, but if you don’t, then you should look for an office space outside your house.

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The bottom line is that the choice of your location should be a place where you can easily get to any place where your services is needed within the shortest time possible – because sometimes you could be handling emergency cases.

5. Advertise and Market Your Business

There are various ways you can advertise and market your locksmith business. Part of what you might need to do to market your locksmith business is to install a sign post in the area where your locksmith shop is located, you can get listed in the yellow pages of your state or city, you can advertise on national or local newspapers and you can as well adopt mouth to mouth mode of advertisement.

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Lastly, it is important to join locksmith association in your state so that you can be abreast with the happenings in your industry. Another benefit that you stand to gain when you belong to a locksmith association is that you can get trained on current best practices in the industry and you can also get referrals and recommendation. The truth is that if you belong to a national locksmith association, you can easily gain trust from your clients.

There you have it; the 5 steps you need to follow to be able to establish your own locksmith business from the scratch and then build it to profitability within the shortest time possible.