corey2444 wrote:
You're looking at investing at least 10k for the basics. You will need a lot more tools/inventory as you go. It's not an inexpensive business by any means.
If you decide you want to go all out, get what you need, and get sub contracted by as many locksmiths as you can. It's slow, but not too slow for the guys shelling out the $$$ for advertising. The last thing you want to do right away is shell out $$$ for advertising and not know how to take apart locks, or be ill equipped to do a job.
Couldnt be more true. It is very slow at the moment unless you are prepared to shell out big bucks for advertising.
I know some of the longer established businesses are still thriving, specifically brick and mortar businesses. Mobile only is suffering big time. I know a guy near me that spends $10K a month in advertising and he is not even making enough to cover costs, he told me that the last 2 months are the quiestest in the last 3 years.
For me, the last 2 weeks have been almost dead as a doornail and now that winter is coming, it will get more quiet. There have been very very few calls, even lockouts have gone quiet. Last two weeks I have done 6 jobs total, that is about 80% under the average.
There is a system that supposedly helps determine if there is enough business in your area to support a locksmith business. In a nutshell, you need a population of about 200K to support you and allow you to make a quid. If you sell $0.50 to every one of those 200K, every year, you will take $100K a year. Your operating costs are calculated after your initial startup expenses. Initial startup, if you intend to do automotive too, expect to spend up to $40K to start up.
One One was a race horse, one one won one race, one two was a racehorse, one two won one too.
Disclaimer: Do not pull tag off mattress. Not responsible for legal advice while laughing.
Bilock - The Original True Bump Proof Pin Tumbler System!
