Your Locksmith Business: Mobile vs. Brick and Mortar
The advancement of the locksmith industry has given locksmiths the option of opening brick-and-mortar businesses or mobile operations. Both come with their own unique advantages and costs, and CLK Supplies is here to describe both business types with the intention of helping you decide between them. Whatever your decision, we are here to supply you and your business with your next set of locksmith tools.
Speaking from a sheer financial point of view, mobile is most definitely the way to go. Mobile business costs range anywhere from $10,000 to $50,000, and you can reduce your costs if you already have a vehicle that’s well suited for a mobile locksmith business. If you do decide to use your personal vehicle for your business, be sure that you talk your decision over with your insurance provider in case you need a new type of policy or an add-on for times when you’re using your vehicle for business purposes. You don’t want to find out the hard way that you insurance provider won’t cover the cost of damage your vehicle sustained during business hours.
The greatest advantage of choosing a mobile business over a brick-and-mortar one is that it’s more convenient for both you and your customer. For truly speedy service, it’s a good idea for you to familiarize yourself with your service area in order that you can get to customers faster. While you can always use a GPS, it takes time for you to type in your destination, and even then there’s a chance you might receive bad directions or end up in a sudden traffic snarl.
Staying Put With Brick and Mortar
If you’ve got the financial resources for it, you may like the idea of opening up a physical location. In regards to actual cost, a locksmith business with a storefront could set you back as much as roughly $18,700, but you also have to think about monthly rent, insurance and additional business equipment.
There is one advantage that brick-and-mortar locksmiths have over mobile locksmiths, and that’s square footage. If you sell products in addition to services, you’ll undoubtedly have an easier time and more room to display your wares with a physical location than you would with a mobile space. In addition to offering customers the products they came into your store for, you might also have a chance to upsell items, which increases your overall profits.
One Way or the Other
Even if you know which business route you’ll take, it’s wise to talk to locksmiths who own both types of businesses to make a well-rounded decision. Ask about the locksmith tools you’ll need, extra costs you may not have anticipated and what the owners like as well as what they don’t like about their respective types of businesses. Once you’ve gathered sufficient information, compare it to the type of locksmith business you want to build, current industry trends and your specific goals for your business.
Be sure you bear in mind the fact that you can have the best of both worlds. There are several locksmiths with brick-and-mortar locations who also have vehicles for situations that demand them. Alternatively, you might prefer to have a small storefront to complement your mobile business where you display replacement locks and create keys for customers. In either case, make sure you have the finances for your plans before proceeding, otherwise, you might find yourself in over your head.
There are more choices than ever for the type of locksmith you’d like to be as well as how you operate your business. Think about what’s best for your business goals, your finances and the future of your locksmith company.