Are you wondering if you should become a locksmith? That’s one of the best small business ideas, actually. It won’t cost you much to start a locksmith business of your own; or you could work as a technician for another locksmith company.
But is locksmithing the right career for you? Do you think you can live comfortably as a locksmith? First, let’s give you a sense of how much you can expect to make as a locksmith.
The median locksmith salary in the US is $48,657 as of March 31, 2017. You may not earn this much in your first year or second year, as locksmith salaries are based on their experience level and the type of services offered.
So a young automotive locksmith who handles emergency locksmith services will probably not make as much as an experienced commercial locksmith who works on top-of-the-line, state-of-the-art business security systems such as high security locks or safes for major corporations.
Similarly, someone who is new to the field will not be able to command the same wages as a long-time industry veteran who is vastly experienced and has basically done everything that can be done in the profession, and knows everything there is to know about all types of lock and key systems.
You will have the option of working for a company as a locksmith, or setting up your own business. Most locksmiths in the United States are self-employed professionals.
There are pros and cons to being a self-employed locksmith. The good things first – if your business takes off, you can make sizeable profits. So there is a lot of money to be made. You won’t have anyone watching over you, so you are free to work as you please. You don’t have to worry about getting fired either.
The drawbacks are the same as with any small business. There is no way to tell at the start whether your business will be successful or not. Many small businesses are known to fail. Also, unless you plan everything carefully, you might find yourself saddled with too many expenses.
You have to be extremely dedicated and hard working for the business to do well; you can’t afford to simply coast along, hoping that the customers would come by themselves. You should be dedicated, self-motivated and persistent, because there will be days when you won’t make much money and will want to give up.
You should be aggressive in your marketing, use a combination of online marketing and the more traditional forms of marketing, and focus on delivering the highest level of customer satisfaction on a consistent basis.
You will need to invest in specialized locksmith equipment and locksmith vans. You will have to spend a lot of your time on the road, driving to the clients’ location. Locksmiths are expected to respond quickly to customer calls and arrive on location within 30 to 45 minutes of that. So are you up to the challenge of becoming a locksmith?