Hello, Locksmith enthusiasts! Today, we're unlocking the secrets to a potentially lucrative opportunity: a locksmith business for sale with an asking price of just $45,000 and an annual profit of $120,000. Sounds tempting, right? Let's dive into the nuts and bolts of this deal and see if it's key to your financial success.
What's the Deal?
Asking Price: $45,000
Annual Profit: $120,000
Location: Palm Beach area
This isn't just any locksmith business. We're talking about a fully equipped, mobile locksmith enterprise, complete with a 2015 NV200 van that has only 56,000 miles on the odometer. The van comes ready with a key cutting machine, tools, a 110-volt power inverter, toolboxes, and supplies.
What's Included?
Mobile Locksmith Van: 2015 NV200, garage-kept, in excellent condition
Tools & Equipment: Key cutting machine, tools, power inverter, and more
Training & Support: Hands-on training provided
Why Consider This Business?
High Profit Margins: Mainly from services like rekeys and lockouts
Minimal Expenses: Primarily gas, tools, and parts
Work Flexibility: Operate as a mobile locksmith and potentially expand your service area
Key Considerations
Before you jump at this opportunity, let's pick at some details to ensure you're making a well-informed decision:
Subcontracting Work: The business operates largely on a subcontracting model. While this can be lucrative, it's essential to understand the stability and source of these subcontracting opportunities.
Tools and Equipment: The listing provides a good overview of the van but lacks specific details about the tools and equipment included. Clarifying this could help assess the value better.
Financial Viability: Consider the investment return and potential financing options if you don't have $45,000 readily available.
Questions to Ask
If you're seriously considering this locksmith business, here are some key questions to unlock more details:
What specific tools and key machines are included?
Can you provide more details on the subcontracting arrangements?
Are there any financing options available for the purchase?
Final Thoughts
The prospect of turning a $45,000 investment into a $120,000 annual profit is undoubtedly appealing, especially in a high-demand area like Palm Beach. However, it's crucial to consider all aspects, including the nature of the subcontracting work, the exact tools and equipment included, and the overall sustainability of the business model.
If you're in the locksmith game or looking to enter, this could be your golden key to success. Remember, due diligence is your best tool in making an informed decision.
Article by PJ Slauson
In 2004, PJ Slauson (then only 19 years old) was working as a locksmith for his dad’s locksmith company and going to college. His dad had a little DBA side business selling locksmith supplies to locals. He had a few shelves in the back of his key shop with some keychains and padlocks which PJ started selling online to make a little extra money.He quickly sold out, eventually PJ decided to setup his own website, and clksupplies.com took off immediately.
