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Increasing income sources

Already an established locksmith? Trying to get your new locksmith business off the ground? Need training or licensing? Have to get bonded and insured? Visit here to talk about running a locksmith business day to day, including buying a van, renting a store front, getting business cards and invoices made up, questions on taxes, pricing out jobs, what to spend on tools and what works and doesn't in advertizing.

Increasing income sources

Postby Poolsharks1 » 25 Nov 2015 11:40

Hi everyone,
Im a mobile locksmith from Scotland. After a few years of avoiding it i finally got myself a mobile key cutting machine - i could kick myself for not getting one sooner. Some weeks i can make an extra couple of hundred pounds from key cutting alone.
My assumption before buying it was i wouldn't make much money from it as no one asks for extra keys after a job. So laying out £1000 to buy a decent one seemed a bad idea.
However, if 'you ask' the customers if they need extra after a job, most want at least 1or 2 extra keys. Not to mention the occasion job you get from a business wanting the locks changed and 80 keys cut (happy days)

My question is: does anyone have advice for extra income streams for a mobile locksmith?
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Re: Increasing incone sources

Postby Sinifar » 26 Nov 2015 9:28

First, you are not in the USA, so I do not know what your exact situation is. You mention making keys, I take it on the road. In what kind of vehicle? Do you take a machine with you in a car say or in an unset up lorry? Do you have power (110 / 220 volt) from say an inverter to make power from 12 volts? How many different kinds of keys do you carry? Do you have a take along key machine in some kind of case which you take into the property and then use their power to cut keys?

Having a clean, neat light lorry will make the difference on the road in wet or cold weather, It gives you a place to get off camera and wrestle with something on a bench out of sight. No rusty, broken down, beat up, dirty looking lorry will do. A big one will be a parking and driving liability in someplace like Europe where road are small and crowded. UK too ....

Do you have anything to make that "first key" - some kind of code cutting machine, carry codes with you, depth keys, or just what is your set up?

If you have a car or lorry, do you have anyway of storing inventory on board? Incidental sales of extra locks, latch guards, padlocks, and other lock accessories can make a difference. Why carry inventory? Impulse sales, and immediate sales "off the wagon" - if the client thinks about it they may change their mind. SO bring along stuff to sell and install for the quick sale. Unless you are really out in the rural area, running for everything will cost you time and money - that second call to finish the job is the pits.

What else can you do to add to the bottom line? Look to the door. How is that door closer working. You can charge to adjust it so it works right. A Hinge Doctor can tune up hinges and the door in general to let it close better, and maybe for the first time on it's own. And parts of the lock assembly looked tired? A new latch may tune up a sluggish lock fast. Not to mention lubricating the whole thing so it works better.

There are lots of things you can do to make money on the road.

The biggest thing is to get a small lorry which is fuel efficient, MY Transit Connect is getting 22 MPG, no joke, that is from the read out on the dash, fully loaded. When I go out to do a job, i am ready for just about anything which the client may ask for. Jobs quite often turn into laundry lists of things to fix / repair / install beyond the original call. I have stated in many posts you can't sell off an empty wagon.

Speaking of the wagon, make sure it is professionally lettered. it is your rolling bill board advertising. We get a lot of calls just because somebody saw our truck out on the street here at the office / going down the street / parked on a job site. If you are lettered do not drive like a demon. Your driving skills are now on display and people will judge you by them. If you drive sensibly and legally, no speeding, no cutting people off, no parking just anywhere, only where legal -- just obey the laws and do it right, then they might consider your services just because you seem like a law abiding citizen.

You do not get a second try at making a good first impression and people only have what they see to judge you. Dress well. Get lettered uniforms, keep them clean and neat. Be squared away. Shine your boots. Have a good haircut, not be messy looking like you just got out from working under a car, and always take along a hand cleaning station in your lorry. Nobody wants your greasy grimy finger prints all over their door / hardware.

AND if you are going to pack heat, keep it deeply concealed but ready at hand. People are afraid of fire power. So don't make it obvious that you are packing.

You want to know how to make it was a smith? I just gave you some of the secrets to our 43 years in the biz.

Sinifar
The early bird may get the worm, but it is the second mouse which gets the cheese!
The only easy day was yesterday.
Celebrating my 50th year in the trade!
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Re: Increasing income sources

Postby cledry » 27 Nov 2015 14:58

22mpg sucks. There are vans in Europe getting double that no trouble. My buddy has a carpet cleaning business and in real world driving in his Fiat he is well over 55 mpg. Albeit a larger gallon.
Jim
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