Security is one of the things that are always in high demand. In fact, people and businesses
can become even more security inclined during tough economic times.
Since security never goes out of style, it’s never too late to start a locksmith business.
Locksmiths can take advantage of both construction activities in boom times and
maintaining routine broken locks and misplaced key situations when the infamously
seasonal construction industry slows down.
Train as a Locksmith
Basic locksmith training can be obtained from a number of sources on the Internet, or you
may learn it through working as an apprentice under a renowned locksmith. The locksmith
and security trade has changed its course tremendously in the past decade. It’s no longer
just about replacing or picking locks, and cutting metal keys. Electronic coded security
devices and access controls have slowly taken over the market of locks and keys. They are
becoming more and more important to society. Due to the much steeper learning curve for
locksmiths this generation, courses are now more detailed and sophisticated. Possible
resources for training include the Master Locksmiths Association.
Create a Business Plan
As much as possible, your business plan should detail all necessary areas and setbacks of
any locksmith business. Address potential customers and revenue sources, startup
investments, and the costs of financing if you must loan money. Like just other businesses,
you will need to invest in equipment, tools, keys, and at least one work van or truck. If
you’re hoping to source your capital from others, your business plan should entice potential
creditors or investors and elaborate how you plan to provide for the return of any money lent
or a return on investment. You should also have a backup plan to continue operations
during the early months of your business, when it’s not yet making a profit.
Acquire Business and Contractor's Licenses
To start a locksmith business, you will need to obtain a business license from your city or
district government and register with your region’s HM Revenue & Customs department. If
you’re planning to build a limited liability company or corporation, you will also need to file
for a certificate of incorporation or articles of association. Lastly, you should obtain a
contractor’s license if you’re planning to do any contracting or subcontracting work. Note
that this may require you to be a bonded or insured locksmith. Ruislip locksmiths, for
instance, can only become members of the MLA if they have all the necessary permits and
licenses to operate.
Study the Relevant Laws
Each city may have their own set of unique laws governing who has a right to access
property, including homes, apartments and cars. As a locksmith, you have a duty of care
not to allow access to unauthorized individuals. There were instances when locksmiths
became the defendants in lawsuits, accused of negligence in assisting an unauthorized
individual gain access to another person’s property.
Though it may sound impossible, the locksmithing industry is not regulated in any way by
the British Government. For this reason, anybody can just trade as a locksmith regardless
of their competence, experience or intention. Because of this, the MLA came up with its own
licensing scheme to maintain high standards in the industry. To get certified, the relevant
examination must be successfully taken by the locksmith. Paddington has numerous
schools that can prepare locksmiths take and pass the test.