Whatever your interests and professional needs, there’s a franchise opportunity out there for you. One of these many franchise types? A locksmith franchise. There are many different advantages to running a locksmith franchise, some of which we’ll explore today, and one of which might hold the key to your future success.
Locksmith franchises operate within the security industry. In this industry, there’s always demand, and it grows with the population. If you’d like to capitalise on this demand and become a locksmith, this article should tell you everything you need to know about starting a franchise with a locksmith company.
The current state of the locksmith franchise industry
The crime rate reduced to 32% during the pandemic [Office for National Statistics], but sadly, as the country slowly reopens, there’s every likelihood that it will increase again - particularly when it comes to burglaries, with many homes newly unattended during the day, and high unemployment rates driving struggling people to desperate measures.
59% of burglars will enter through people’s front doors [Office for National Statistics], which means that ensuring your house is as securely locked up as possible is crucial. And to do that, who will the UK public turn to? Locksmiths, of course. Demand is high, and the industry is doing well.
The locksmith industry is a very stable line of work as home security is vital and the locksmith industry moves with the times. In recent times, our locksmiths have benefited as they are key workers and so it was vital they continued working during the UK lockdown. Becoming a locksmith offers a security that many other industries don’t benefit from.– Locksmiths Training
>> Read more:
What are the four advantages of running a locksmith business?
1. Investing in a locksmith franchise is an affordable option
Locksmith franchises are often mobile, and mobile, van-based franchises are more affordable. The average cost of franchising in the UK is £42,200 [British Franchise Association], but to invest with Lockforce UK, you’ll only need to make a minimum initial investment of £14,995. Beyond purchasing a suitable vehicle, your operational and running costs will be minimal. Further advantages include:
- Free advertising - You can include contact details/services/branding on the side of your van and advertise on-the-go.
- More customers - You’re not confined to a certain location, and rather than coming to you, you come to customers, meaning that you’ll be able to attract more.
When people think of franchising, [...] they rarely consider low-cost options that they can run from a home office or mobile van. Mobile or at-home options typically require fewer employees, offer flexible schedules and do not require high rent payments.
– Michael Plummer, Forbes
2. You’ll join an established, successful business
Unlike starting your own business, franchising doesn’t set you down at square one. When you become a franchisee and start running a franchise unit, you’ll join an established brand with a proven business model to follow towards success. Your customer base will be waiting, your reputation will be secure, and in days, you’ll have what SMEs (small to medium enterprises) take years to achieve. You’ll also receive:
- Inclusion in national scale advertising campaigns
- Franchisor support and backing at every turn
- The financial and industrial means you need to keep up with competitors
Franchises come preloaded with a name that people know and trust. Getting customers to recognize your brand is an incredibly difficult slog—but a franchise has a name that is recognized nationwide. For customers, there is no doubt what you’ll get.
– Jared Hecht, Forbes
3. You’ll receive plenty of training and support
One of the biggest benefits of the franchise business model, regardless of sector, is the amount of training and support provided to franchisees by their franchisors. This varies business to business, but most franchise operations pride themselves on the provision of extensive, high-quality training, especially in the initial stages.
You can find out exactly what you’ll receive from your franchisor by researching, asking them, asking current franchisees or perusing the franchise agreement. Generally, the training and support package will include:
- Initial set-up support
- Ongoing troubleshooting support
- Training (initial and ongoing)
- Help with marketing and advertising
More specifically to the locksmith sector, we can take Lockforce UK as an example. As a Lockforce UK franchisee, you’ll make your initial investment and you’ll then receive, in return:
- Comprehensive technical training (which will teach you all you need to know)
- Ongoing business support from the moment you start running your franchise
- Access to a web development team
- Access to business planning consultations
- Ongoing technical support
- Cross-media marketing opportunities/exposure, co-ordinated by the in-house team
>> Read more:
- 5 Advantages of Franchising for Young People
- 9 Things to Know Before Becoming a Franchisee
- Mythbusters: Common Misconceptions About What Makes a Successful Franchisee
- 5 Great Reasons to Become a Franchisee
- Franchising 101: Are You Ready to Become a Franchisee?
- Franchising 101: 6 Things to Know Before Becoming a Franchisee
4. You’ll always be in demand
As touched on already, a quality, reliable locksmith franchise is always going to be something people will need. Whether customers are taking protective measures, replacing lost keys, or replacing locks that keys have broken off, the key cutting industry is thriving and full of a variety of different requests each day. A day in the life of a locksmith is the opposite of monotonous - it’s unexpected, and full of new challenges.
Franchisees in the locksmith sector can look forward to an exciting future, with more and more people becoming concerned with security and safety. Join a trusted, established business and put yourself ahead of the competition and in a position to profit today, because the locksmith industry isn’t going anywhere.
You’ve probably heard the term “a dying trade”, which is used to describe many practical jobs that don’t really hold much potential as the UK changes and develops. Locksmithing is a role that couldn’t be further from a dying trade, with increasing numbers of individuals and businesses requiring the skills of a locksmith year after year.
– MPL Locksmith Training
Start a locksmith business today and become a franchisee in a profitable sector
There are many more benefits to working with a locksmith franchise, and there’s much more to cover as you begin your locksmithing journey. If the above article has piqued your interest, keep reading, and find out how to start your own locksmith franchise.
Lily Sweeney, Point Franchise ©