Start a Locksmith Business: Open the Door to Your Own Franchise

30/09/2018 08:00 | Start a business

locksmith franchises

If you're considering starting a locksmith business, you may want to consider joining a well-known franchise. Besides benefitting from an established brand, franchisees also receive extensive training and help to grow their business. Here, we take a look at the locksmith industry and how franchises operate in this market.

Locksmith industry

There are approximately 25 million homes and 5.4 million small and medium-sized enterprises in the UK. Every one of them is secured by a lock of some kind. Every year, there are around 780,000 incidents of burglary in domestic buildings. Likewise, there are approximately 215,000 incidents in a business setting.

However, the fear of theft or burglary is just one of the primary motivations responsible for the regular use of locksmiths. Besides improving security, locksmiths are employed to help customers re-enter their homes after being locked out, to change damaged locks, to perform security surveys, and to fit various security devices. With the locksmith industry generating just over £910 million in revenue each year, there are plenty of opportunities for a talented franchisee to grow their business.

Locksmith jobs

Locksmiths are always in demand, and the industry itself is often referred to as recession-proof. This is due to the way in which customers will always require and pay for the services of a locksmith, no matter what state the economy is in.

The work carried out by locksmiths comes from many different sources. There's the general population who make domestic callouts. Then there's sub-contracting work for large construction jobs. There are also business callouts, where security may be tougher, and the technology employed more advanced. Finally, franchises often try to win national contracts on behalf of their franchisees. This can add a considerable amount of revenue to the franchisee's overall turnover and prove incredibly profitable.

Mobile locksmith

In the modern market, most locksmith franchises are operating as van-based, mobile businesses. This is mainly due to the versatility it offers and the way in which it allows franchisees to work out of a mobile workshop. All the tools, parts, and equipment you need can be taken with you everywhere you go.

However, there are other benefits to a van-based business, too. For instance, a branded van acts as a giant advertisement board and helps spread the word about your franchise. Whenever people see your van, they're given a gentle reminder that it's your franchise they should go to if they ever need the services of a locksmith.

Building a van-based franchise is also beneficial because it allows for easy expansion. Most franchises will offer their franchisees an exclusive territory that contains enough potential customers to sustain two or three vans. This means that the franchisees can add a new van to their business when theyre ready, growing organically as their trade increases.

Locksmith training

Locksmith training varies from franchise to franchise, but nearly all organisations will have developed a thorough training and induction programme as part of their franchise package. Of course, the quality and depth of these programmes will differ. Consequently, it's important to talk to the franchisor about what the training course consists of and exactly what it covers.

Nearly all franchise training courses will teach new franchisees the practical expertise required to work as a locksmith. The majority will also provide information on how to successfully manage a franchised business, while the best franchises will also offer introductory classes on marketing, accounting, and the digital systems used. Finding a franchise package that provides the training you need is an essential part of making the right decision about which franchise is best for you.

Do locksmiths need qualifications?

Though there is much debate within the industry itself as to whether locksmiths should be licensed, there are currently no standardised qualifications, accreditation or licensing processes to complete. This means that anyone can trade as a locksmith, irrespective of their abilities or experience.

While this lack of regulation is helpful in the sense that it removes barriers to entry in the profession, it also means there are a considerable number of "rogue traders" operating as locksmiths. This makes trading under a well-known brand name all the more important, as customers are far more likely to utilise a service they feel they can trust. Below, we take a look at three of the most reputable locksmith franchises and explore what they have to offer.

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Lock Fast

Advertising themselves as the "same day security" specialists, Lock Fast have built themselves a well-branded franchise that tackles many lock-related jobs. Whether it's installing alarms, repairing damage to doors and locks, fitting CCTV technology, or simply letting customers back into their homes, Lock Fast can do it. Renowned for their professionalism and friendly customer service, the franchise is currently looking to expand its network by joining forces with suitable franchisee candidates.

LockRite

LockRite is the largest locksmith in the UK and offers franchisees access to a well-known business brand that boasts excellent reach. All LockRite franchisees are provided with an exclusive territory that's designed to support numerous vans and allow for business expansion. All franchisees receive extensive training that prepares them for their future role. This training period takes place at the franchise's dedicated training facility in Exeter.

LockRite also emphasises the importance of national contracts and are currently on track to deliver £1.4 million of additional commercial work to franchisees across the country. This help is also supplemented by the high-quality support and guidance franchisees receive from the franchisor as they grow their business.

Pro-Tect Alarms

Finally, Pro-Tect Alarms offer potential franchisees something a little it different. While they do provide locksmith services, they're integrated into a much larger and more general security business. This business typically involves installing, monitoring, servicing, repairing, and replacing alarm systems, as well as other security work. The franchise's alarm systems are some of the most developed in the industry and focus on the high-value domestic value that is largely neglected by other alarm-orientated businesses.

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