Lockrite is on a mission to provide high-quality lock equipment to vulnerable properties across the UK. With a growing network, it is leading the way in lock repairs and replacements – but could you see yourself running a locksmith franchise?
With over 59 percent of burglaries in the UK taking place when the victim is still in the property, there is a serious need to protect people from a potentially dangerous intrusion. Preventing break-ins isn’t just about keeping the doors locked and making it look like you’re at home when you’re on holiday. As many as 27 percent of break-ins occur by forcing open the look, creating a demand for better quality locks that keep properties and people safe.
LockRite is answering this demand with its wide range of security services. It offers new locks, lock changes, key cutting, boarding, emergency entry and burglary repairs. Customers can also turn to LockRite for security devices, including HD CCTV cameras, burglar alarms, smart locks and other items. In short, Lockrite is working hard to keep its customers’ homes and businesses safe.
Since establishing in 2007, LockRrite has grown to over 50 franchises across the UK offering 24/7 emergency locksmith services often within 30 minutes of receiving the call. All its services come with a 90-day guarantee and it does not charge a call-out fee to customers. With such dependable services, LockRite has become the locksmith of choice for high-profile commercial clients including Tesco, Costa, Spar and Barclays.
Does LockRite franchise?
LockRite does use the franchise model, with franchisees running mobile businesses across the country. Each franchisee is given a territory in which to operate, minimising competition between franchisees. Once a franchisee is given a territory, they can expand to have a few vans and employees offering services, which can generate significant income in areas in demand. To ensure brand unity, LockRite franchisees are uniformed and have branded vans.
Managed from the Exeter Head Office, LockRite franchises are given ongoing support to keep running successful businesses. Operating across the UK, including in Northern Ireland, there are franchises opportunities all over giving budding locksmiths the chance to be their own boss in a location close to home.
LockRite franchise opportunities are lucrative. Some franchisees regularly turnover more than £10,000 a month.
History of LockRite
From humble beginnings in 2007 to nationwide franchise, LockRite has enjoyed a successful journey so far. In just three years, it had 30 franchises across the country, which grew to 50 franchises in another three years. It has since partnered with multinational security company Gunnebo and security giant Yale.
Thanks to its partnerships, LockRite has now entered the smart security arena. It now offers Key-free Connected Smartlocks and Yale Smart Living Locks, which link up to Amazon Alexa and other AI operating systems. LockRite can also now offer Yale’s home WiFi cameras, with video footage views via the Yale app.
LockRite has also developed its own tech-based services. It offers commercial clients an online portal to access real time job updates and reports, enabling clients to keep on track of the service. With its in-house database development team, LockRite can develop software tailored to each client’s requirements. QR code readers and check-in, check-out systems are just some of the digital services that the locksmith company has offered to its clients to ensure full transparency and security.
>> Read more:
Starting a LockRite franchise unit
You don’t need to be a locksmith to run a LockRite franchise. You’ll be trained from the experts before you start to visit clients’ homes, but a keen interest in locksmithing certainly helps to make your business a success. Most LockRite franchisees are practical by nature, which makes it easier for picking up the skills.
Becoming a LockRite franchisee
Running a franchise often requires a bank loan to cover initial fees and start-up costs. Speaking to your bank and to get an idea of the amount you can borrow is a good place to start. You should also request information from LockRite on which locations are available and how to get started. To give you an idea of income, many LockRite business owners earn more than £70,000 a year.
The reason no prior locksmithing experience is needed to become a LockRite franchisee is that everyone is given extensive training from the start. You’ll undergo an initial four and a half week in-house training course, which will equip you with the expert locksmithing skills you need. You’ll also have access to training from industry partners so that you can get to grips with more specialist equipment.
How much you need to invest
New franchises must invest a total of £29,750 plus VAT from the outset, which is a relatively low amount compared to lots of other opportunities. You can also take out a loan to cover much of this fee, meaning you only need to put down £10,000 upfront.
With revenue after two years expected to be £140,000, franchisees will quickly reap the benefits of their initial investment.
>> Read more:
What you get for your investment
Investing in a LockRite franchise gives you of running your own business. You’ll have the independence to work autonomously, build your own client base and expand your business. At the same time, you’ll be given an exclusive territory, which will minimise competition and help you make your business a success. You’ll also benefit from the franchise’s proven business model and sound reputation for winning new clients.
The investment fee pays for your branding, access to first-class technical support, marketing assistance and training. You’ll also have access to free training for additional services including smart security products including key-free locks, alarms and CCTV. You will also be given hands-on support to launch with a locksmith trainer accompanying you to begin with. And if you need any extra training along the way, that’s free of charge too.
Ready to explore your locksmithing dreams? Take a look at LockRite’s profile page to get a feel for the opportunity. You can also request information from the page for a full lowdown on what being a franchisee is really like.
Alternatively, you can browse other van-based franchises. Could you see yourself vehicle repairer, loft renovator, plumber or window cleaner? These are just some of the franchise opportunities you can run without need for a premises – just a van and some newly acquired skills.
Sophie Cole, Point Franchise ©