Price to charge per key

[WOT]

Wizer,
Your comment about code cutting keys in 2 minutes on your Silca Unocode 399 overlooks the fact that this machine costs thousands of dollars--like $8000 or so. With all that money to recoup, I'm surprised you charge as little as you do.

I believe the Axxess+ cost about the same, or even more.
It can be better to sell 2.2x the volume at 1x price than to sell 1x volume at 2x price. I'm an opponent to charging more for keys just because they're double sided. How are you going to compete agaist Lowe's, Home Depot, Kroger, Wal-Mart, etc with Axxess+ machines? Customers will still come to you for specialized tasks, but expect to lose a good chunk of KW1, SC1, M1, simple metal car key and mail box key business to big box if you don't price it competitively with them.

[jabraham]

Double sided keys take more time and skill to make than single sided keys.

It is a fact that Axxess admits that it has a key return rate of 4.5 %. If Axxess ADMITS to 4.5%, what do you suppose is their real return rate?

Some of my customers tell me they have gone back two and three times to hardware stores and big box stores and come to me with a sense of relief, finally they are going to get a quality machine and a personal touch and a key that works the first time. My return rate I’d estimate is in the less-than 1% area.

[ElAbogado]

Wizer,
Your comment about code cutting keys in 2 minutes on your Silca Unocode 399 overlooks the fact that this machine costs thousands of dollars--like $8000 or so. With all that money to recoup, I'm surprised you charge as little as you do.

I believe the Axxess+ cost about the same, or even more.
It can be better to sell 2.2x the volume at 1x price than to sell 1x volume at 2x price. I'm an opponent to charging more for keys just because they're double sided. How are you going to compete agaist Lowe's, Home Depot, Kroger, Wal-Mart, etc with Axxess+ machines? Customers will still come to you for specialized tasks, but expect to lose a good chunk of KW1, SC1, M1, simple metal car key and mail box key business to big box if you don't price it competitively with them.

Personally, the way I see it the locksmith should not be in competition with WalMart and Lowe's, as they cut keys that don't work a lot of the time and their selection is very limited. Locksmiths cut Medeco, Abloy, sidewinder, VATS, Transponder keys and many that they do not. Additionally, key duplication is more of a service to the customer than a money making venture, as the real money is made in outside service calls.

El Abogado

[ElAbogado]

All on our high tech key macines:

seems to me that the cutter is installed backwards on this machine, and the keys are in the vise backwards too.... not much room for the head of the key against the casting.

just a thought.

El Abogado

[I Pik U]

You could be right.
Actually I've never cut a key on this machine.
My father bought it, and just put it on display.
I should have a better look at it.

[jabraham]

Also looks like the right key is upside down.

[Gozzo]

Is that machine hand driven ?? and yes the right key is upside down.

[Evan]

I charge $35 to code cut--it's painstaking (time consuming), requires a special (expensive) machine, can only be done by a locksmith. Some of the prices quoted like $10 I don't understand. At the prevailing hourly rate ($85) $35 amounts to less than a half hour which is in the ball park.

-1...

I know of a few old school independent hardware stores that possess blue punch machines for Schlage and Kwikset because they rekey locks... Those machines will pay for themselves in a few months of selling keys at $2 per key and quicker when you factor in the charges for rekeying locks for customers to match their existing house key...

So "code-cutting" a key is not an advanced locksmith only type thing on many normal keys... Cutting them on expensive $10,000 and up code machines which can handle many types of keys is something only a locksmith would need to do... You can do a lot with a blue punch and an HPC 1200CMB but not everything...

~~ Evan

[thelockpickkid]

Code cutting for almost any key can be done easily, fairly quick and cheap by using depth and space keys on almost any duplicator. Sure these code machines are the best way but NOT the only way.

[Evan]

Code cutting for almost any key can be done easily, fairly quick and cheap by using depth and space keys on almost any duplicator. Sure these code machines are the best way but NOT the only way.

It is not a true code-cut key if you use a tracer-duplicator and a set of depth keys to create it...

It is a first-generation duplicate of a code key as you made it by copying the necessary depths off a set of depth keys and therefore is not a true code originated key...

~~ Evan

[globallockytoo]

I charge $35 to code cut--it's painstaking (time consuming), requires a special (expensive) machine, can only be done by a locksmith. Some of the prices quoted like $10 I don't understand. At the prevailing hourly rate ($85) $35 amounts to less than a half hour which is in the ball park.

-1...

I know of a few old school independent hardware stores that possess blue punch machines for Schlage and Kwikset because they rekey locks... Those machines will pay for themselves in a few months of selling keys at $2 per key and quicker when you factor in the charges for rekeying locks for customers to match their existing house key...

So "code-cutting" a key is not an advanced locksmith only type thing on many normal keys... Cutting them on expensive $10,000 and up code machines which can handle many types of keys is something only a locksmith would need to do... You can do a lot with a blue punch and an HPC 1200CMB but not everything...

~~ Evan

It bothers me that the one time domain of locksmiths has been invaded by the hardware stores hell bent on taking away from the small operator. All at the price of quality workmanship and integrity. More often the hardware stores do not know what they are doing and screw up the keys anyhow.

I have code machines too. They are not that expensive. It never takes a half hour to make a key to code and I charge $10 for a single sided key with no qualms.

[Evan]

It bothers me that the one time domain of locksmiths has been invaded by the hardware stores hell bent on taking away from the small operator. All at the price of quality workmanship and integrity. More often the hardware stores do not know what they are doing and screw up the keys anyhow.

I have code machines too. They are not that expensive. It never takes a half hour to make a key to code and I charge $10 for a single sided key with no qualms.

Being that there are fewer and fewer of those little independent hardware stores left with each passing year thanks to the big box type places, they have to do what they need to do to stay in business...

I don't blame you for being bothered by it, as I agree that many of the places we are talking about here really don't know what they are doing when it comes to locks -- but there are a couple of little hardware stores out there that know their stuff who really should have a shot at staying in business...

It would be far worse however if the big box stores were to get seriously involved in such services...

~~ Evan

[allamericanlock]

Go to the local hardware store and match or beat their price. Most of my customers complain about the keys they get copied from the hardware store.

[MacGnG1]

after calling the handful of locksmiths (with an actual shop) in my area for a Schlage Everest LFIC control key (C123) the locksmith only charged me $2 + tax for the key. The only other lockie that could get them for me was going to have to order them and was going to charge me $10 + cutting it. (i've come to realize he seems to over charge for most things i have inquired about, but he is the only locksmith "in the neighborhood").

My experience with this key blank is that all lockies are not made the same and that there are really only 2 locksmiths in my area I can depend on for the odd things i need for this hobby. (One is closer but the other is the only one that is open on Saturday, and it is a on the way home from the ReStore )

also i found out that home depot is now cutting transponder keys for about 60 to 80 bucks. i dont mind lowes cutting a KW1 or a SC1 key for me, but ANYTHING else i am going to a place where they actually know what they are doing.

[I Pik U]

Also looks like the right key is upside down.

No, it's not.
It's actually only a blank at the moment, as it's not cut.
Also it's a #9 blank. If you were to put it upside down, it would probably flop over as you tightened the vise.