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

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locksmith franchises

Originally posted on 30/09/2019. Updated on 21/05/2019.

Locks are essential in keeping us and our valuables safe. They provide security in a world where crime and theft are a daily occurrence. Locks prevent unwanted people entering our premises and, without them, we are susceptible to having our belongings taken. Locksmiths play important part in ensuring this level of security is maintained through installing, replacing and fixing locks. So, if youve dreamed of being your own boss and like the idea of owning a van-based business, then why not start a locksmith franchise?

Franchise Route vs. Independent Start-Up

When starting a business, you can decide whether to create an independent start-up or operate as a franchise. If you become part of a well-known business, you can benefit from an established brand that will already have a customer base. Customers are more likely to seek services from a business that they can trust, and if they recognise the name or have seen it around UK, they are more likely to choose those services not to mention that becoming a franchisee gives you access to comprehensive training and ongoing support. This helps you to get to grips with the proven business model and become equipped with all the knowledge and skills you need to run your own franchise successfully.

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Locksmith Jobs

Touching on what we mentioned earlier, locksmiths will always be in demand. Regardless of the state of the British economy, the public will always want to ensure their house, business or other premises are safe. Locksmiths tend to get their work from four different sources. Firstly, theres the general public, who will make domestic callouts based on their needs. There are business callouts, which can involve complex security and technological systems. Then theres sub-contracting jobs for big construction jobs. And, finally, there are national contracts that the franchisor will often try to confirm for their franchisees.

As well as improving our security, locksmiths also help their clients get back into their premises after being locked out, perform security surveys, change broken locks, fit security devices and even duplicate keys.

Lets take a closer look at the industry to see whether the market has the potential for you to start a lucrative locksmith business.

Locksmith Industry

This recession-proof industry generates over £910 million in revenue each year in the UK. The primary motivation for this is, of course, their customers desire to prevent burglary. But all of the other essential jobs that locksmiths undertake also contribute to this high number.

There are roughly 25 million houses and 5.4 million small and medium-sized enterprises in the UK, all of which rely on a lock to keep them secure and keep intruders out. Despite there still being approximately 780,000 reported cases of burglary in domestic buildings and 215,000 in a business setting, this number would be even higher without our installation of locks. And the high incidents of burglary also encourage people to keep on top of their security systems and use the services of locksmiths.

But what can I expect when I become a locksmith franchise owner?

Mobile Locksmith

The majority of locksmith franchises in the UK operate a van-based business due to the ease of being able to take all the equipment, tools and parts to any destination. Also, driving around in a branded van can provide instant brand recognition to potential customers and get your name out there in the local area. If a potential customer sees your van outside of their neighbours house and in the future they are in need of a locksmiths services, they could remember the brand name or ask their neighbour.

A mobile business also means you can expand easily if you so wish. When you become a franchisee, you will usually be granted an exclusive territory that contains enough potential customers to sustain two or three vans. Therefore, there is scope to add more vans to your business when your trade increases to meet demand.

Locksmith Training

Franchises will all offer some type of training and support but be sure to carry out research to check the level of training and support you can expect from each franchise. This should be a very important factor in your decision-making process, and it could determine whether your business venture makes it or breaks it.

At a basic level, training will cover all the necessary practical expertise needed in order to become a competent locksmith. On top of this, you will learn how to be a highly knowledgeable and skilled business owner who can manage their staff well. Established locksmith franchises might also offer training in accounting, marketing and the technological systems that the brand uses.

Locksmith Qualifications

Whether locksmiths need a licence or not is a heavily debated topic in the locksmith industry. As it stands, to operate in this trade you dont need any standardised qualifications or accreditations, nor do you have any licensing processes to complete. So, anyone and everyone can start a job in this area without being trained or having any experience. And although this may seem good in terms of being able enter the industry without any barriers, there are also drawbacks.

Because of the lack of licensing, there are a number of rogue traders operating as locksmiths. Therefore, this is where becoming part of an established brand becomes even more valuable. Customers are more likely to use the service of someone they can trust.

Take a look below at one of our best locksmith franchise opportunities we currently have to offer.

LockRite

Founded in 2007, LockRite is the biggest locksmith company in the UK and holds a powerful position in the market with 59 UK franchisees. Franchises will undergo a four-and-a-half-week training course to hone locksmiths techniques. Interested franchisees will need to make a minimum investment of £10,000 and the total investment is £29,750. Franchise fees are £29,750.
 

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