Thinking of becoming a locksmith? Many people ask me about my profession when I arrive at a workplace. The thought of working with the public, working with hand tools, making quick money on lock calls, and of course the power and ability to open doors, cars, and safes is quite intoxicating for some people. I don’t place help seeking ads, but nevertheless I do average one unsolicited per month via email. It usually comes from an anxious teenager looking to do an apprenticeship. OJT (on the job training) is a good way to go if you can get the job. This is precisely how I started. That and reading all the trade magazines I could get my hands on, endless hours researching the web, taking classes, attending trade shows, and talking to any locksmith who took the time to chat with me (and many would, as long as I was not one of their competitors). But that’s the way it is for most athletes. Once you start working as a locksmith, it gets under your skin. It consumes you and becomes an obsession. That’s not exactly a bad thing after all; Being (God willing) financially successful at what you enjoy is a great way to pay the bills. However, there is a price to pay that does not fit the lifestyle of most people and therefore the purpose of this article.
The good: helping the public and making a little money while doing it. First of all, I rarely charge to unlock a car or house when a child is locked inside. When I get the call, usually from a panicked parent stating that their child is locked inside a car, I rush to the scene. There are few better times for me as a locksmith than seeing the relief in a mother’s eyes when I open the door and pull her son out of a sweltering car on a hot summer day. “You are my HERO,” she says while hugging her son with tears in her eyes. “No charge, ma’am. We don’t charge for children locked up in cars. If you’d like, for a small fee, I can make a copy of your car door key for you so it’s less likely to happen again.” They almost always say yes, and the key payment usually comes with a tip. The “up sale” is simply to cover my gas output on the call, and the tip, if any, buys me lunch.
The rest of my jobs are usually for-profit jobs. Still, more than half of what I charge goes directly to the company in the form of gasoline, insurance, advertising, business organization fees, license fees, vehicle maintenance, tools, supplies, and other expenses.
As a locksmith you will never get rich, but if you play your cards right you could retire well. The plan, as I read in a popular trade magazine, is to sell a well-established store with a long list of customer accounts, while owning and collecting rent on the property the store is located on. It’s even better if you own an entire complex and also collect rent from your store neighbors. I personally know a retired locksmith who did exactly this and I understand that he is doing quite well.
Many locksmiths make and sell tools and / or reference books, or teach classes (like me) to supplement their income.
The bad: being available 24 hours a day, 7 days a week. After-hours and weekend service can account for a large part, if not most, of your income. Then there are the late-night calls. 2am, half drunk and can’t find his car keys: “Sorry sir, I can’t help you drive your car tonight, but if you call me in the morning, I’ll be happy to help.”
The locksmith industry is a highly regulated security industry (but necessarily so). The licenses, insurance, and bonds you must carry can cost a small fortune. I have a city business license, a state locksmith license, a state contractor’s license for lock and security work, two insurance policies (general liability and commercial vehicle insurance), two different bonds, and I am a member of two major organizations national commercials. In California, you must be fingerprinted and pass state and federal background tests. I am also a member of some local organizations, including the Chico Chamber of Commerce and the North Valley Homeowners Association.
The cost of running a business like this can be overwhelming and there is always another tool you need to buy, another software update, or replacement parts / tools to order. I am currently saving for a high security key machine that sells for $ 5,800.
Let’s not forget the paperwork. You will need to keep legal forms for clients to complete and detailed records of who, what, where and when. The last thing you want to do is make the keys to a car or house for someone who does not have the authority to have a key to that property.
Lastly, buy yourself a nice shirt and tie because you will most likely find yourself in a court of law in no time for, among other things, domestic disputes.
The Ugly: Evictions, Repossessions (REOs), and Key Changes After a Domestic Dispute. There are few things as humble in this profession as writing an invoice for after-hours service and handing over the new keys to someone with a new black eye. I vividly remember a woman standing next to a hole in the drywall where her head was forcibly inserted only hours before. Local sheriffs know me because it is not uncommon to perform password changes and security checks while they are still there, completing their report.
Can you say fleas? Yes, now I keep flea powder in the truck because you never know what condition a recently foreclosed home will be in.
Angry former tenants who have been evicted can also pose a challenge. Locks sometimes get disabled or destroyed, and I keep latex gloves in the truck in case I ever have to pick another lock that has been peed on.
The bottom line: I’m pretty happy being a locksmith, most of the time. Salary, freedom from work (I can leave my hours open if my kids have a school event), and the satisfaction of helping people while making a profit for me keeps me going.
My advice to you:
1. Do your research before entering the market as a locksmith. My city has too many locksmiths per capita. There is barely enough work for everyone most of the time.
2. Move on to another locksmith and be willing to move, as you may need to sign a “no-compete” contract stating that you will continue to be your boss’s competitor. Locksmith schools are fine, but an experienced locksmith can show you a few tricks of the trade that can help you make higher profits or get jobs done better and faster than the basic skills taught in most schools.
3. Be willing to pay your fair share. It will take many years to create a customer base and a name for yourself. A smart locksmith once told me that it takes at least three years before they (the customers) know you’re there, and seven before they realize you’re gone.
4. When you start out on your own, get an easy-to-recognize logo and put it on everything: your truck, bills, pens to give out, and any other promotional items (see our logo below).
5. CYA Document everything and have pre-printed and professionally prepared legal forms for your clients to fill out.
6. Don’t get too carried away. If you have other obligations, such as a spouse and / or children, be sure to make time for them. It is difficult to turn off the phone or reject calls because you are rejecting money, but you cannot make up the days you lost.
A former employer of mine occasionally tells the story of how he made $ 2,000 in a weekend by sending calls to his on-call locksmith, while on a boat on Lake Shasta with his wife. It was a rare weekend vacation for them and they spent much of the day talking on the phone. He died of cancer two short years later, and later told me that he would give almost anything to make up that day. I know this story personally as I was the clerk on duty that weekend.
To quote Uncle Ben (from Spider-Man, the movie): “With great power comes great responsibility.” The ability to open doors, bypass alarm systems, open safes, and inside knowledge of customers’ security systems has been the downfall of unscrupulous locksmiths. In short, if you can’t handle the temptation, don’t practice the profession.
Finally: never take advantage of someone. As Grandpa always said, it can take a lifetime to build a good reputation, but only a moment to ruin it.
Good luck in what you decide, unless of course I am planning to open a lock shop in my service area.
