question for any established locksmiths

[Loc Doc]

Well, I too run a couple of businesses. I too got bored with being a "high flyer". I'm now a locksmith.

As regards 6 or 7 jobs a day, you are dreaming. You will not get that, unless you have staff. How long do you think it takes for a quote for a bespoke security system? Even if you are a guru, and it takes 30 minutes, you still have to factor 30 minutes there and back, plus 30 on site, then write up and price the quote, factor in your profits, etc. Then they drag their heels, change thier minds, etc. and you have to re-quote, etc. etc. and you get paid nothing for all this, even if it takes a full day.

Then there are small things like lead times on stock, suppliers not getting stuff to you in time, taking phone calls at odd hours so you are wiped the next day, safe jobs that might take a full day, and more.

This is why we all say £45 is only just enough for a standard call out. We aren't making a fortune. We certainly aren't "pissing in your ear" so there is more work for us! 1 more guy (who knows nothing about locksmithing) isn't going to be a threat next to the 35 other locksmiths in my town. And besides, you are on the other side of the world...

It's hard going, long hours, and a lot to learn. Do it as a hobby, sure, start a sport group. That would be more your thing that pissing around in the rain at 3am trying to open a lock when the EPG battery is flat, the client is moaning at you, and you've already done a 14 hour day, which starts again in 5 hours... unless the phone rings again!

that is a major bummer for you

[Loc Doc]

NKT: just so that i'm clear on this, youre saying that you don't have an issue with not getting enough calls right? your problem is not enough time to grab all the business that comes your way? if so then THAT is what i wanted to hear about. how do you manage volume?

if im mistaken and you actually dont get enough calls then nevermind.

im just trying to get all of the input i can get to creat a solid and reasonable business plan. from what i hear, nobody makes any money in this business. hopefully lockies in hawaii share this attitude. that will make it easy. its easy to beat someone who beats themself.

anyway...

if anyone wants ideas on how to bring in more business, pm me. but if your issue is trying to schedule too many jobs then let me know what ideas you got.
thanks,

scot

[NKT]

Ok, you have to understand that there are two sides to the locksmith game. There is the emergency call-out from a home or business, which you drop everything for, and go let them in. Then there is the work for homes and businesses, which requires you go and measure up and quote, send in the quote, etc. then perhaps (mostly with businesses) wait 30 days for your invoice to be paid.

They are very different things. I would rather have far more of the emergency calls where I get paid a good amount right now, on the door step, than the latter, which is a real pain, and often just seems like too much work, considering a lot of companies seem to not even go ahead with the work, rather than even accepting someone else's!

[Varjeal]

Loc Doc...it's not a matter of not being able to make enough enough money really. there are a few issues that hold locksmiths back from making that six figure income your talking about.

#1. Depending on the specific local market, oversaturation of locksmiths to customers. There are numerous towns and cities where there are far too many locksmiths trying to look after a relatively small population base. As you well know, in order to make a good income your customers have to want your product or service, and at the price you are offering. If the acceptable ratio (and I'm just picking a number, so go with me on this) is 1 locksmith per 40,000, and your area already has 10 established business' that have been in operation for 5 years or longer, and two of those operate 2 or more trucks each, your opportunities for success are going to be diminished due to their competitive advantage.

#2. There are only so many hours in a day, and a single locksmith can only do so much work. Depending on your product and service $100 k is a reachable goal for a one-man show. After that, you'd best be looking for employees unless you want to burn out. As mentioned before, not just job length, but suprises, travel, and other factors must be considered in the overall scheduling. (I'm sure you know that already.)

#3. The # of jobs/day really means nothing, and scheduling can quickly fly out the window if you take emergency calls. A 1.5 hr job isn't really a 1/5hr job...it can be more like 2 1/2hrs or more if shop time is required, plust travel and paperwork and pr.

Basically, what we're trying to say is to be cautious. Making a six figure income in your first year is generally considered a stretch. Your going to spend a significant amount of time in "pounding the pavement" looking for work. You are fortunate, perhaps, in that you have disposable income to get your marketing started, and thus have an advantage over most in that regard.

I would warn you however, that marketing locksmithing services is a tad bit different than other business'.

Best of luck and success in your endeavour.

I would like to hear more about your genius marketing plan, but not in pm. Feel free to start a new thread describing your plan so we can all have a read. I'd be interested in learning more how to make my business more profitable.

[toomush2drink]

You still havent addressed the lack of skill issue yet loc doc. Unlike other businesses this is a skill based business so without that essential fact ,you need skill, your only other way forward is to subcontract out all the jobs which means your looking at a call center type setup, and you can then handle the volumes you speak about.

How long have you allocated in your business plan to aquiring the skills and knowledge to achieve success ? How much training are you intending to do ? Time is the only way to do well in this trade.

We may sound like a silly bunch of locksmiths but the reason for our "yeah right" attitude is that we Know our trade. You can market anything to sell but people soon wise up if there is no substance to it.

[Shrub]

I call myself a locksmith but only so the people around me understand what service i offer, i will be a happy bunny if i EVER get to call myself a true locksmith before i leave the game (retire) we're constantly training ourselves, teaching each other new tricks, finding out new tricks, making our own tools to achive these new tricks or spending wads of cash to do it, this is all dead money as far as the bank manager goes because your not actually bringing in money whilst your playing with locks, tools, and ideas or searching LP101 etc.

Ill certainly never have the audacity to call myself a master locksmith even to get more work

[Loc Doc]

hey guys..

all of your points are well taken. thanks for the replies. and some very very good points indeed. ive shared a portion of my plan with some of you through pm. if you guys want to share it further, its ok by me.

[Varjeal]

toomush is correct...beyond the marketing aspect that you seem to feel you have well in hand, skills, and just as important, updating and expanding those skills, takes time and resources that could otherwise be spent making money.

In the long run, however, it does pay to keep upgrading and only ads to your value as a skilled tradesperson.

[Shrub]

I will talk about your marketing plan, you didnt say not to post it on site and as its nothing new and somthing that a) the cowboys in this country seem to do the most and b) isnt really anything special to get you a 6 figure sum, i think its fair to do.

You suggest to buy phone numbers from the neihbouring towns and citys and have them directed to your mobile phone so anyone looking for a local number will contact you over all the other real local lockies,

A few thoughts,

This is one of the things destroying this industry,
This is dishonest to the customer,
Now your doing 2-4 times more traveling you still need/want 5-8 jobs a day?!?!?! How many hours do you think are in a day,

At a guess your stratergy is also to undercut the real local lockies who have the buisness background?

And on top of all this you have very little skills

Sorry but if thats the basis of your marketing campain your in deep trouble.

[NKT]

And don't forget things like training - and I don't mean learning what the difference between a sashlock and a sash jammer are, I mean things like health and safety, working at heights (just been caught out by this one!), asbestos, electrical power, etc. which vary in length and cost from one day and a few hundred up to a year and thousands!

[Shrub]

Luckily i got my working at heights certificate at my last job.

Off topic a bit but im actually the knob thats on most of the HSE videos!! no one else wanted to do it and once you do one they seemed to keep asking for me, most are the forklift ones but i am on others as well

Usually the ones the factory inspectors go round with.

[wraith]

I truly hope the phone # thing isn't the only thing.

The last company I worked for did just that, they had something like 6 phone numbers and only 1-2 people working (me and one other guy). No office, we worked from home. And they are a national chain! Really nice looking ads in the Yelloe pages though About half of our customers that would cold call were disturbed to find out we had to drive halfway across town to get to them...

I am intentially keeping small, and staying in a relatively small area - don't want to bite off more than I can chew too quickly, that's why most small businesses fail.

Trey

[Shrub]

Unfortunatley, yes that was the top and bottom of the 'special' marketing campain.

[Auto45]

This was a hobby that got out of control, was getting call from friends all the time, I AM LOCK OUT HELP. I manly got licensed so I can carry my tools and help my friends, I do have business cards,have insurances,have about $3,000 worth of tools now. I do transponders keys,pick car,home and padlocks,cut keys, I do not do this as a living, just fun I do get $$$ for the jobs I do,pays for my tools and keeps my hobby going.

I am in S. Calif. $75 plus miles of lockout call daytime $125 plus miles after hour calls. Transponder keys from $85 to $175 cut and coded.

I do not advertising at this time, most are referrals
auto

Mod> not sure if can talk about transponders if so please delete post

[digital_blue]

Mod> not sure if can talk about transponders if so please delete post

You can talk about transponders. Just be cautious not to reveal info that relates to defeating them in the public forums.

db