I am interested in becoming a locksmith

[Squelchtone]

Hello everyone!

I am new here. First time posting.

I am currently an Electro-Mechanical technician for a global company, which is full-time, but I am looking to do Locksmithing part-time. My first question is, would this be something feasible? I am married with 3 small children. The intention is to make extra money, and also offer training in the trade for my 3 sons as they grow older so they have a skill during college.

Thanks for your input!

[Jburgett2nd]

I don't see why it wouldn't be, I work full time in an "entry level" job but I do basic locksmith work on the side when I have the time. I did one of those online schools which helped me to learn the basics and hopefully I get the experience I need with the part time work I do independently. There is even a school that puts the material out for free, I can't remember the name of it, if you surf the threads you will find it, since it is pretty highly praised. You could always seek an apprenticeship though I haven't been able to find one yet.

[Potential_Locksmith]

Thanks for your comment!

That's great you can do locksmithing part time. How do you advertise?

Also, I was given the following link to learn some stuff on locksmithing. As for apprecnticeship, I'd had to find something from 2pm onward or on Saturdays.

http://www.sopl.us/mandatory-courses.html

[Jburgett2nd]

Mainly through word of mouth, and a craigslist ad. I don't get too much business one or two calls a week but it's enough for me right now, I don't have business insurance or anything like that so it's kind of a risk so I limit what I do. Yeah SOPL is what I was talking about. I'd say your best bet would try to get a job through something like pop a lock so you can have flexible hours. I've been trying to get a job with my local pop a lock but they aren't hiring but I've got my eye on it lol

[Sinifar]

Not to throw cold water on your aspirations, but have you considered how many smiths are already in the area? Can it sustain another one? This is one of the factors many people don't think about. It is called "market saturation" - when you get too many in the area everybody loses.

This isn't an everybody can play game. It looks easy, but when you get into it the truth is it is like any other business and gets complex fast. From learning the basics, to just getting yourself set up in order to do daily work like rekeying locks, and installing locks can take a sizable investment in time, tools, and the knowledge to do the job right.

Don't just learn the basics and think you are ready for the big time. This leads to shoddy work and people not knowing how to really finish the job and it then becomes a "throw a band aid" on something and hope it works out. Leaving a mess for a craftsman to figure out how to undo your handy work.

Training wise, there are a lot of possibilities to learning the basics of the craft. The on line as well as mail type courses all work well if you have the ability to work thru problems as they come up. BUT know, just "reading" about how something works and actually having the lock / problem in your hot hand makes a lot of difference. Which is why I volunteer to mentor "to be" smiths - somebody has to pass the knowledge on before we go - and i ain't getting any younger. Not every smith wants to train a potential rival or worse.

Then there is the business side of the equation. You need to set up some kind of biz organization to handle that side of the thing. You may need to do more than just open a biz and then go to work. DO you need state tax numbers? Does your state require you to register your biz with the Secretary of the State as a biz? Do you need a registered "trademark" and "trade name or street name" to work under?

Having unexpected and unreported income will flag the IRS not to mention your state DOR people. You could work "cash only" but having no ability to take in checks is going to be a problem. Your bank will not accept checks made out to "LOCKSMITH" and deposited to your personal account. AND to have a biz, or non personal account you will need some kind of EIN number issued by the IRS. What about taking credit cards? A lot of people today pay with plastic and how will you process that one?

Back to the EIN (Entity Identification Number) -- It isn't hard to get one, you can do it on line, but know once you apply for one, and actually receive it, the IRS will be looking for some kind of biz return, like Schedule "C" and supporting paper work, along with the social security forms "Schedule SE" ... On that line you will need some kind of books - and if you don't know accounting, and I do mean beyond the basic bookkeeping you will be in trouble from the start.

Electronic books like Quick Books or Quicken will work and is type accepted by the IRS for record keeping. It will pass an audit.

This could get really long, so I will cut it here. Just know I am not throwing cold water on you - just pointing out the realities of what goes wrong with so many new startups and why they fail within the first year or so -- worse why they go down in flames fighting with governmental red tape.

Just ask - 43 years on the street, 50 years in the biz. Good luck, but study out the whole thing before you jump into something you will later on wish you had never heard of. There is a lot more to running a biz than most realize or worse understand, which is why they fail.

Sinifar

[Korver15]

Sinifar that was a really helpful reality check for someone who is playing with the idea of becoming a smith!

[OmegaLocksmith]

Florida is good for LOCKSMITHING

wanna job come to Chicago...........

[Jeb37]

I'll be heading to college soon, and I was thinking about starting a small locksmithing business as a part time job. I have heard from a few locksmiths that a good portion of the job is responding to lockouts. My concern is that if I'm in class for a good portion of the day, I won't be able to respond to those business calls. Could this be a problem for me?

[billdeserthills]

Your wish is totally feasible, my Dad took a foley-belsaw course in 1968 and began doing after work/before work service calls.
He was a full-time car mechanic and used to do a call during lunch from time to time as well. Thing is to gain internet availablility
One nice thing is this will be extra money for you, instead of shop income. That gives you an advantage over a shop, as you can afford
to charge less for your work. My Dad used to call you guys 'fly by nighters' and of course he was one himself to begin.

You won't get every call, but some folks will be glad to wait, especially for a few $$ less cost. Anyhow, if you can do a lockout at
lunch, or before you leave for school, and after school there is plenty of availability there. Just take your time, don't start off buying
some $6,000 key machine--Buy only what you need and when a client inquires about something you don't have equipment for, think
about expanding, if the price of the job will be close to the equipment cost.

[billdeserthills]

Mainly through word of mouth, and a craigslist ad. I don't get too much business one or two calls a week but it's enough for me right now, I don't have business insurance or anything like that so it's kind of a risk so I limit what I do. Yeah SOPL is what I was talking about. I'd say your best bet would try to get a job through something like pop a lock so you can have flexible hours. I've been trying to get a job with my local pop a lock but they aren't hiring but I've got my eye on it lol

My liability insurance through State Farm is only like $400 a year and I have a shop & do mobile work
You can always get a bond card from Locksmith Ledger or the other white meat, The National Locksmith

[cledry]

Mainly through word of mouth, and a craigslist ad. I don't get too much business one or two calls a week but it's enough for me right now, I don't have business insurance or anything like that so it's kind of a risk so I limit what I do. Yeah SOPL is what I was talking about. I'd say your best bet would try to get a job through something like pop a lock so you can have flexible hours. I've been trying to get a job with my local pop a lock but they aren't hiring but I've got my eye on it lol

My liability insurance through State Farm is only like $400 a year and I have a shop & do mobile work
You can always get a bond card from Locksmith Ledger or the other white meat, The National Locksmith

Until you can be available 24/7 you can get by with just the basic insurance coverage. However as you grow the clients will request more coverage. I wouldn't dare do this business without any insurance though.