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Locksmith Pricing... How do you Compare?

Locksmith Pricing... How do you Compare?

Are you ready for some fun session? Grab a Topo Chico and let’s go through the posts of the week, comment of the week, and the national price survey for locksmith. Let’s get going!

POSTS OF THE WEEK

Locksmith Meme

How many of you out there get random calls from people you haven't maybe seen for 1 or 5 years and all of a sudden they need a freebie? Some lock work to be done; unlock the car, make keys for the car, that sort of stuff. Even I is still getting those phone calls.

 CLK Supplies mailbag

Looks like some lockboss winnings of bradleybenson. Some AeroKey software, and Lockboss water bottle; thanks for sending that picture.

 

To put this really nice review followed by a controversial comment that pretty much telling that it was a fake comment. Mr. wattvoltamp or Brian and to any of you who left us a review, we all appreciate it here at CLK.

COMMENT OF THE WEEK

 

John, glad you like it. The funny part is if you notice on our latest videos, the machine is gone.  it's gone That's because it is at Las Vegas for the ALOA show. We'll have the machine that I've been using for demo videos to be down there in our booth. So, to any lockboss who's going to stop by, check it out. I’ve been testing out the Triton and there will be more training videos coming up using it. I can’t wait to show you the results!

2022 NATIONAL PRICE SURVEY FROM THE LOCKSMITH LEDGER

Recently, a 2022 National Price Survey from the Locksmith Ledger came out. Now, if you guys don't subscribe, or whatever you might want to consider because it has good information in there. The pricing survey is good. I've taken a few little pieces out and I really want to talk about it. So with that being said, let's dive right in.

HOURLY RATE

The average hourly rate of a lockboss/smith is $92 during business hours, and $135 an hour after business hours. So I'm curious, where are you guys at in that range? Now, of course, there's always a lot of nuance in this. Meaning, if you're in San Francisco, it's going to be a lot more expensive than in an area with low population. Okay. So of course, you know, it's not going to be exact, however, as what I'm really curious about is your pricing, does it trend with what you see? So, maybe you're 20% less than everything or 20% more, but I'd be interested to see if there's some stuff you're higher or lower.

RESIDENTIAL LOCKOUT

 

That's interesting if you compare it to the hourly rate, it's actually less than that, right? It's a little less than the hourly rate, which I find interesting.

AUTOMOTIVE LOCKOUT

 

If I go back to Residential Lockout, it has $85 and $128 while Automotive Lockout has $82 and $117. So the automotive lockouts are a little less than residential? Would you say that automotive lockouts are easier or less skill required? Now they do have a lot more competition. Right. There's a lot of different industries that do service lockouts. For the most part, you can use a few simple little tools to unlock a car where a house is going to require some more skill. The interesting part though, is, you know, that's $3 more for a house lockout. So the question is, ‘Which one do you find easier?’

DUPLICATE KEYS

I found this interesting. Single cut costs $4 while double cut costs $6.29. You know, I really wish that some of these questions were a little different to help us understand a little bit more of what's going on. The price range of your cost on a single key can vary greatly.

The interesting part when I look at that is it's $2.29 more to cut a double sided key. And so you're essentially doing double the work for $2.29 more.

REKEY

For a mortise cylinder, the average price was $21. I kind of liked that price; honestly. I feel like that's a good price to rekey a mortise cylinder. I feel like that's a really good labor charge. Because if you do 4 rekeys in the time of one automotive lockout, your cost is going to be way less. At the same time, you can make that amount of money in a very short amount of time compared to driving around just doing lockouts all day.

LABOR TO INSTALL A DEADBOLT

Labor to install a deadbolt is $73. I'm guessing that's just the labor charge, to punch the hole in the door. That said, I think that's a great price. Once again, if we go back to that lockout for about $80 and we compare that to installing a deadbolt for $73 and think about the costs associated with those two, that is very interesting.

AUTOMOTIVE TO PROGRAM A TRANSPONDER KEY

 

Automotive to program a transponder key at $3. What do you charge for the programming have a transponder key? And let's just pretend you're throwing in like a B111 circle plus key. This is so fascinating to me. So, the program a transponder key is $83 and to install a deadbolt is $73. Now let's talk about the equipment cost. A cheap one goes $30 while the really nice one is $500, it has all the little jigs and accessories with it. So we're looking at $500 there and you compare that to automotive key programming and the equipment costs and even the know-how knowledge is so much more.

Be sure to check visit https://www.locksmithledger.com/home/article/21269230/2022-national-average-price-survey. Thank you, and we’ll see you next time!

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