Locksmith Wholesale Tips: How To Price Your Locksmith Services

Starting your own locksmith business is challenging, and there is so much more to think about than many people realize. One of the most important is how to charge for your services.

You have to consider many factors when setting prices, including your own costs, buying materials from a wholesale locksmith supplier, your competitors, your location, and your unique share of the market. 

In this article, we’ll quickly review the national averages for common services that locksmiths provide. Then, we’ll give some helpful tips for setting your prices.

National Averages For Locksmith Services

Locksmiths provide vital services to their customers. What follows in this section are national averages. Many other factors can (and should) contribute to what you charge, but this should give you a good baseline from which to begin.

Service call = $80

This is your price simply for coming out to a job. It is meant to pay for both your time and the cost of transportation. Many locksmiths will roll this fee into others or reduce it, depending on the circumstances of the job itself.

Unlock a door or car = $77

This fee is in addition to the service call, although some locksmiths charge a flat fee of around $150 that includes the service call and the unlocking.

Rekey a home = $20.50 per cylinder

Again, this is in addition to the service call. You want to charge per cylinder and not per door, since some doors have more than one cylinder on them (double bolts, etc.). Buying locks wholesale from a reputable locksmith wholesale company can help cut down your costs.

Rekey a business = $25 per cylinder

Typically, rekeying a business is a bit more involved, as the locks used for these structures are different and more duplicates of keys are needed. Again, it’s important to charge per cylinder and not per door.

Copy a car key = $65-$260, depending on the type of key

Car keys can vary a great deal in terms of complexity, which impacts your expenses from your locksmith supplier. This factor will affect what you must charge a customer. Consider different rates based on whether you're copying a mechanical key, or if you have to reprogram a car key remote and corresponding vehicle immobilizer system. 

Make a cabinet key = $27-$40

Prices vary here depending on what type of cabinet and what type of lock. Some people only need a simple lock to keep children out, while others are seeking to protect valuables from potential thieves.

Drill a safe = $378

Drilling a safe is a specialty skill that can carry a great deal of liability. It is also time-consuming and requires special equipment, which is why the cost can be so high.

Tips for Setting Your Locksmith Prices

Next, we’ll finish up with some helpful hints that you can use to determine what to charge:

• Research competition in your market: you don’t want to price yourself too high or too low in comparison.
• Understand your costs: including paying yourself, your overhead, and expenses from a locksmith wholesale company.
• Factor in variables such as the cost of living where you’re operating.
• Hire a competent small business accountant to help analyze your financial health.
• Be up-front about your fees with all your customers.

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