Starting a Locksmith Business in a Rural Area.

[Nighthawk]

I am looking for a career change and have been considering starting a Locksmith business. I would get technical training first before considering starting the business. I live in a county in Idaho that has a population of 11,000. There are no locksmith's in this county that I can find. When needing a locksmith, people will call one of two locksmith's in the next county to come and do the work. In that county there is a population of 41,000. My question is, can another locksmith business possible make it with a lot of hard work and patience with a this population density of the two county's? Any help would be great appreciated. Thank you, Richard.

[sentientsentinel]

As with any buisness the more population that you have generally the easier it is to get business.The area that your going into might need a locksmith who knows.This is kind of sad in my area of the country I see alot of specialty stores close or go bust.Its because someone has got it in there head what they would like to sell not what the market will support.I say if you love locksmithing then try it out in the area you are in but be prepared to move to a major population center. I looked up locksmiths in my area and there are about three and there all right downtown by the college.I hope this helps or at least doesn't harm you.

[Nighthawk]

Thank you sentientsentinel for your help. Unfortunately the closest major population center is over 2 hours away and this would not be an option. But I do appreciate your comment.

[billdeserthills]

I'm the only locksmith in a small town and I think you have plenty of population to support a locksmith

[2octops]

It can be done, but try to search out some larger commercial customers in bordering counties that you can service on a regular basis. It's not ideal, but 4 or 5 large customers can make you more money each year than all of the general public customers will all year.

[Nighthawk]

I'm the only locksmith in a small town and I think you have plenty of population to support a locksmith

Thank you billdesertthills for your help, that is encouraging.

[Nighthawk]

It can be done, but try to search out some larger commercial customers in bordering counties that you can service on a regular basis. It's not ideal, but 4 or 5 large customers can make you more money each year than all of the general public customers will all year.

Thank you 2octops for your commit. Since there are only two other locksmiths in the area I'm sure the commercial accounts are being serviced by one of them so it might take some time to get my foot in the door if they are providing good service.

[billdeserthills]

You can always go with the standard old classic & undercut the other guys prices, but I really think you'll have plenty of folks for Your customer base
I think you need a website, to let those folks know that they do have a new option

[Nighthawk]

You can always go with the standard old classic & undercut the other guys prices, but I really think you'll have plenty of folks for Your customer base
I think you need a website, to let those folks know that they do have a new option

I would rather not get into a price war. I feel that with persistence and good marketing, that I can sell myself and then let my work and professionalism do the work to retain a customer. I do agree with you that social media is the best way to get customers. What is you thought of networking with real estate agents? I also have another question if you can answer it: Besides the vehicle expense, how much would you estimate it cost to outfit the vehicle properly? Thank you.

[GWiens2001]

Just out of curiosity, and to answer a question future people may ask, about how large a population base do you feel is sufficient to support a full-time locksmith?

Gordon

[Nighthawk]

Just out of curiosity, and to answer a question future people may ask, about how large a population base do you feel is sufficient to support a full-time locksmith?

Gordon

Hello Gordon, If you are asking me, I don't know. That was the original question I had asked. With the populations between the 2 counties and there are already 2 locksmiths servicing the area, would opening a third locksmith business be worth it?

[billdeserthills]

Just out of curiosity, and to answer a question future people may ask, about how large a population base do you feel is sufficient to support a full-time locksmith?

Gordon

5,000 reside in my little town, and there is a bit of overflow from towns next to mine.
Far as outfitting the van there is more than one way to look at that. My last van, which I repaired and drove for over 15 years was a used 1979 Dodge cargo van that I paid $1,500 for.
After I wrecked that a couple years ago I bought a new Nissan NV 3500 hi top van for just over $30,000
Both vans hold about the same amount of stuff, but they will most likely differ from what You decide to stock in Your van. To start out with you'll need a key machine, depth keys or
a code duplicator. You don't need to buy New machines, I paid $600 for my used Framon #1 which was factory altered into a Framon #2 w 12vt motor(cuts medeco keys too) You could spend $2,500
on the same type machine, but You don't need to...One money saving thing I have learned is to simply use machines with 12v dc motors, instead of spending a bunch of money on an inverter.
I have never needed to use an inverter, but my new Nissan has one built-in. For anyone who doubts the power of the 12v dc motor, today I sat and cut 85 keys on my little Speedex machine. That
took me an hour and I charged $4.25 for each key. Pretty good money for an hour of work & the battery on my truck wasn't depleted one little bit

[Nighthawk]

Just out of curiosity, and to answer a question future people may ask, about how large a population base do you feel is sufficient to support a full-time locksmith?

Gordon

5,000 reside in my little town, and there is a bit of overflow from towns next to mine.
Far as outfitting the van there is more than one way to look at that. My last van, which I repaired and drove for over 15 years was a used 1979 Dodge cargo van that I paid $1,500 for.
After I wrecked that a couple years ago I bought a new Nissan NV 3500 hi top van for just over $30,000
Both vans hold about the same amount of stuff, but they will most likely differ from what You decide to stock in Your van. To start out with you'll need a key machine, depth keys or
a code duplicator. You don't need to buy New machines, I paid $600 for my used Framon #1 which was factory altered into a Framon #2 w 12vt motor(cuts medeco keys too) You could spend $2,500
on the same type machine, but You don't need to...One money saving thing I have learned is to simply use machines with 12v dc motors, instead of spending a bunch of money on an inverter.
I have never needed to use an inverter, but my new Nissan has one built-in. For anyone who doubts the power of the 12v dc motor, today I sat and cut 85 keys on my little Speedex machine. That
took me an hour and I charged $4.25 for each key. Pretty <censored> good money for an hour of work & the battery on my truck wasn't depleted one little bit

Great information billdeserthills. I would reply to you differently if I knew your name. I could assume Bill but you know what that can spell. Anyways, thank you very much for the reply and all your help. I want to make sure that this is right for the area of mine and that its successful and not a failure because of the lack of research on my part.

[1mrchristopher]

At last Census, the county in which I live and serve (Richland County, Montana) has a population of 11,214. Right now I work a full time job, and locksmith on the side. I could easily go full time on the locksmithing and probably do quite well, but I'm not certain I want to pull that trigger just yet. I will tell you that I get calls from people as much as 60 miles away, some of which are even in North Dakota, because there simply isn't anybody else. Don't be afraid to start small and work up, and search craigslist in every direction as far as you are willing to go with the search term "locksmith" you may well find yourself a good setup for pennies on the dollar. A big ol' +1 to Bill on not necessarily buying new. My 95 Astro came to me from a retired locksmith with a Blitz and an Ilco 45, inverter, a sizable selection of key blanks, a selection of cam locks, a few pin kits, and other assorted goodies (along with 240,000 miles) and I paid $3000.00

[Nighthawk]

At last Census, the county in which I live and serve (Richland County, Montana) has a population of 11,214. Right now I work a full time job, and locksmith on the side. I could easily go full time on the locksmithing and probably do quite well, but I'm not certain I want to pull that trigger just yet. I will tell you that I get calls from people as much as 60 miles away, some of which are even in North Dakota, because there simply isn't anybody else. Don't be afraid to start small and work up, and search craigslist in every direction as far as you are willing to go with the search term "locksmith" you may well find yourself a good setup for pennies on the dollar. A big ol' +1 to Bill on not necessarily buying new. My 95 Astro came to me from a retired locksmith with a Blitz and an Ilco 45, inverter, a sizable selection of key blanks, a selection of cam locks, a few pin kits, and other assorted goodies (along with 240,000 miles) and I paid $3000.00

Thank you MrChristopher, you are pretty close to my situation as far as demographics. Now I just need to get my training and with all the advise I have gotten so far, I feel that it is possible. My wife and I brained-stormed last night and believe with the right marketing, it would be successful. Also, thank you again to everyone that has helped.