The worst thing which can happen in a real life situation is being locked out of your home, office or car because of lost keys. Though this may not happen on a regular basis even if it happens once or twice in your life time it could be a panicky and fearful situation. Especially if you have children and if you are stranded on the roads in some desolate locations in the middle of the night it well and truly could be a frightening state of affairs. Under such circumstances your first priority is to get in touch with a locksmith and have a duplicate set of keys made. You would be ready to spend generously to get the job done because of the situation.
Though this may not happen in each and every home and every day, when one looks at the law of averages it is quite likely that it will be quite a big business opportunity. It is therefore not surprising when we see thousands of locksmiths averaging around $50,000 to $60,000 per year. This is decent money and the best thing is if the business gets established and if you are able to earn goodwill of customers you can easily increase the average income to six figures within a short period of time. However you must know how to start and run this business and come out with a foolproof model. We will learn more about it over the next few lines.
Start Slowly Then Move Up
The first process is to get started. Locksmith business can be begun with a small investment and there are many businesses which have grown healthily even though the starting capital was only $2,000 or $3,000. You can even get started from your house and then think about expanding your business with a full-fledged office. However there are some legal and other technical requirements which you must follow and adhere to.
Getting A Certification
You must try and qualify as a certified locksmith though it may not be mandatory in all states. It is preferable to have this certificate because it will help him enhancing your marketability and improve your chances of success quite substantially. There are many online and brick and mortar institutions and school which can help you to run a business successfully within a few months. Licensing is also an important requirement which must be completed before you start the business even from your home. There are a few states their licensing is mandatory and there are many states where it is optional. You would be advised to go in for licensing because it makes your business more attractive and secure from the customers point of view.
Putting A Basic Infrastructure In Place
You must carefully invest in some basic equipments, tools and accessories for getting the business started. For example you must compulsorily have a key making machine which could cost a few thousand dollars. If you wish to start on a shoe-string budget you could hire these key making machines for the first year or the first few months. You also must have a suitable locksmith van which will help you to reach out the customers efficiently and speedily. Here also you could explore the possibility of hiring a vehicle rather than buying a new one. There are many banks and financial institutions which offer easy EMI options both for new and used locksmith vans.
You Must Be Available 24/7
Emergencies pertaining to locking and security systems will not come announced. It will happen all of a sudden and therefore as a service provider you must be ready to meet the requirements of customers in an emergency situation. You might get a call late in the night or during the wee hours of the morning. Whichever is the time you are called you must be ready to service the customer. So you may need to have a relook at your lifestyle and learn to manage your business and personal life efficiently.
Start With A Few Customers
Being ambitious about your locksmith business is fine but you must ensure that you do not go overboard and end up biting more than what you can chew. Therefore a good suggestion would be to have an initial target of three or four customers per week. If you are able to satisfy them you will be in a position to spread the message around. This will help you to bring in new customers through a word of mouth advertisement. Hence you must plan each stage of growth properly and thoroughly.