A locksmith business is indeed profitable but you must first acquire the required training, and then work as an apprentice for a while before applying for a locksmith license. Although a locksmith business is considered to be a small-scale business, but it is regulated by the government to ensure that criminal elements in the society don’t take advantage of people.
There are various aspects you can specialize in as a locksmith; you can specialize as a residential door locksmith, an automotive locksmith, or a safe and security locksmith. Players in the locksmith industry carryout installation, repair, rebuilding and adjusting of security systems, as well as management of keying and key control systems.
Establishments in this industry also sell mechanical or electronic locking devices, safes and security vaults. You can actually own a locksmith business in the United States on a platter of gold by buying a franchise and here are some of the best locksmith franchises you can buy in the United States of America;
6 Best Locksmith Franchise Opportunities and Their Cost
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The Flying Locksmiths Inc.
The Flying Locksmiths Inc., is an all-inclusive security provider, who provides door closers, piano hinges and exit devices, all the way to card access systems, CCTV and electric strikes/intercom systems. The company was founded in 1984 and is based in Braintree, Massachusetts with her head office at 100 Grossman Dr., #305 Braintree, MA 02184.
The Flying Locksmiths Inc. started franchising in 2015 and as of 2018, the company operates 80 franchises in the United States. The Flying Locksmiths has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, and payroll et al.
Financial Requirements
- Initial Investment: $121,596 – $366,396
- Net-worth Requirement: $200,000
- Liquid Cash Requirement: $90,000
- Ongoing Initial Franchise Fee: $15,000 – $240,000
- Ongoing Royalty Fee: 8 percent
- Veteran Incentives: 5 percent off franchise fee
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Pop-A-Lock
Pop-A-Lock is a franchise locksmith company in the United States and Canada, based in Lafayette, Louisiana (1018 Harding St. Lafayette, LA 70503). Pop-A-Lock was founded in Lafayette, Louisiana by former law enforcement officers, Carl Vincent and Steve Gremillion.
The company began granting franchises in 1994. Since that time the Company and Brand have grown to over 482 franchise areas within the United States 13 in Canada and 16 international. Pop-A-Lock operates in 8,300 communities. Entrepreneur Magazine has consistently ranked the franchise in the “Top 500 Franchises” and chose Pop-a-Lock as a top franchise in 2014.
Pop-A-Lock Franchise System offers in-house financing to cover the following: equipment, inventory, accounts receivable, and payroll. Pop-A-Lock Franchise System also have relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, and payroll et al.
Financial Requirements
- Initial investments: $96,904 – $130,313
- Net-worth Requirement: $250,000 – $500,000
- Liquid Cash Requirement: $30,000 – $100,000
- Ongoing Initial Franchise Fee: $15,500
- Ongoing Royalty Fee: 7 percent
- Ad Royalty Fee: 1 percent
- Veteran Incentives: 10 percent off franchise fee; special training program for veteran employees
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Acme Locksmith
Acme Locksmith is one of the leading locksmith companies in the United States of America. Acme Locksmith was founded in 1997 and they began franchising in 2017, about 3 years. Acme Locksmith has her corporate head office at 2735 E. Main St., #10 Mesa, AZ 85213.
Financial Requirements
- Initial Investment: $99,117 – $205,050
- Liquid Cash Requirement: $50,000
- Ongoing Initial Franchise Fee: $35,000 – $35,000
- Ongoing Royalty Fee: 7 percent
- Ad Royalty Fee: 2 percent
- Veteran Incentives: $5,000 off franchise fee
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Mr. Rekey Locksmith
Mr. Rekey Locksmith is a fast growing commercial and residential locksmithing that is also into franchising. Mr. Rekey Locksmith was founded in 1995 and they began franchising in 2012, about 8 years ago. Mr. Rekey Locksmith has her corporate head office at 1421 Wells Branch Pkwy., Bldg. 1, #104 Pflugerville, TX 78660 and is under the leadership of Kenneth Jennings who is the current CEO of the company.
Mr. Rekey Locksmith offers in-house financing to cover the following: franchise fee, equipment, and inventory.
Financial Requirements
- Initial Investment: $33,000 – $80,800
- Liquid Cash Requirement: $50,000
- Ongoing Initial Franchise Fee: $10,000 – $30,000
- Ongoing Royalty Fee: 7.5 percent
- Ad Royalty Fee: 2 percent
- Veteran Incentives: 20 percent off franchise fee
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iLocksmiths
iLocksmiths’ main offices are located in Queens, N.Y. with expanding office locations throughout the New York City area. Their 500 plus technicians are highly trained and licensed. They have provided premier locksmith services for automotive, residential, and commercial for over eleven years. If you are interested in this franchise opportunity, you can contact them via their official website for more information.
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Keyless Shop
The Keyless Shop has one of the largest selection of remotes and keys for most make and model vehicles. Chip keys, smart keys, remote keys, transponder keys are all cut and programmed right at any of their locations at Sears. The Keyless Shop offers franchise opportunities to interested investors.
The Keyless Shop currently has seventeen retail locations in nine states. Are you currently a mechanic or own a body shop? Cutting and programming car keys is a great add on service to grow your business. Average cost to open a Keyless Shop Automotive Locksmith franchise is between $30,000 – $50,000.