Steps to Starting a Successful Locksmith Business

If you’re an experienced locksmith who has worked for someone else for a while and you want to start your own business, then this article is for you.

Starting a successful locksmith business can be the right career choice and the key to more money and more independence.

If you want to set your business on the right track from the very beginning there are a few things that you should know beforehand.

Venturing on your own in this line of work can be very rewarding but it is not a simple task- so be prepared to work hard.

Featured Program

Earn your accredited, affordable Locksmith career diploma online with Penn Foster in as little as 2 months!

Request Information

SPONSORED

This article will cover the main steps that anyone who wants to start a new business in this field should follow.

Step 1: Having a Good Business Plan

Writing a good business plan is very important- arguably the most important first step before starting any business.

You can draft your business plan by using the great number of resources that are available online or you could hire an experienced business consultant to help you with this task.

Regardless of the path you want to choose, you have to make sure that you have thought through each step of building your business.

Step 2: Research the Legal Requirements that Apply in Your State

Legal requirements for this profession vary depending on the location where you want to practice: some states require locksmiths to have proper training and a certificate before being allowed to practice.

Step 3: Get the Right Training

Although not all states require locksmiths to hold a license or a certification, attending a trade school or enrolling in an online program can help you learn the things that you need to know before joining this profession.

Knowing the theoretical aspects of locksmithing is not enough, so regardless of the program you choose, make sure you practice the things that you learn at school.

If you know an experienced locksmith in your area, then his/her mentorship will prove very helpful.

Step 4: Decide on the Specialization

There are different areas of locksmithing in which you can specialize, such as commercial locksmithing or automotive locksmithing.

If you’re not sure which one fits you best, then you should discuss it with an experienced locksmith in your area.

Make sure that you take into account the opportunities that are available in your area: for example, if you’re town is oversaturated with automotive locksmiths then consider taking a different path.

Step 5: Decide Where You Want to Work

Finding the location where you want to practice this profession is very important because your job opportunities depend on the demographics and the local market.

If you live in a small town where many professionals provide this type of service, then traveling to an underserved nearby area can be a very smart business choice although it will require additional fuel expenses and time resources.

If you want your business to be mobile then you will also need a vehicle that can take you from one job to the next.

Step 6: Pick the Right Tools and Equipment

The type of tools you will need to use depends on the specialization you want to choose.

The tools that you will use when helping someone who’s locked themselves out of the vehicle are different from the ones you’ll use when installing a security system at a store.

Regardless of the specialization, when purchasing tools, you should take into account quality as well as budget constraints.

It is also important to research your competition and find out what equipment they are using.

Step 7: Determine the Structure of Your Business

At this step, you should ask yourself what type of business you want to operate.

Do you want to be a sole proprietor, a corporation, or an incorporation?

Each one of the above choices has its pros and cons, so it’s best to talk to other locksmiths in your area and find out what type of organizational structure they are choosing.

Also, determine if you want to hire employees in the future or you want to work alone.

Step 8: Find Potential Customers

Finding customers is a key component in starting a new business and in this trade word of mouth is very valuable.

Your friends can recommend you to your first customers.

Depending on the area where you want to start your business, you should also consider building a website and a social media presence.

Advertising in a local newspaper or radio station may also be a good way to get the word out.