How Much Do Locksmiths Make?

How much do locksmiths make? What is a locksmith salary? Those are the questions that always pops up in our group discussions, facebook page, phone calls and emails.

I guess it’s a valid question, if you want to succeed as a locksmith, you want to know how much you can make as a locksmith running a business.

Below we have broken down some of the potential earnings you can make from a locksmith business.

These prices are based on my locksmith business in 2018. Earnings will vary depending on what country you are from etc.

In 1 x Week How Much Does a Locksmith Business Make?

1 x Hour Labour – 9am – 5pm / Monday – Friday = £65.00 average amount of hours worked =15. Total: £975

1 x hour Labour 5pm – 12am / Monday – Friday = £85.00 average amount of hours worked = 3. Total: £225

1 x hour Labour 12am – 9am / Monday – Friday = £105.00 average amount of hours worked = 2. Total: £210

Total Sales from locks replaced on jobs = £234.18

Turnover In 1 Week = £1644.18 ($2,192.11)

Expenses = Van finance, fuel costs, website up keep, stock, tools, public liability insurance, van insurance, tax, national insurance, advertising, mobile phone contact, uniform, wear and tear, stationary, Locksmith certification.

(So when asking the question, how much do locksmiths make – don’t forget to deduct expenses and tax!)

Total expenses in 1 week – £384.00

Total Net Profit for 1 x week Running a Locksmith Business From Home = £1260.18 ($1680.33)

As you can see, running a locksmith business from home can be very profitable. It takes some determination and drive to bring your business to this level but if I can do it anybody can do it!

Locksmith Salary

If you are looking to join a locksmith company and work as an employee, your earnings will be a lot lower. You will be expected to work 40 or more hours per week plus some evenings and weekends if the locksmith business that you’re working for offer a 24 hour service.

You can expect to earn between £20,000 – £30,000 working for a company so as you can see a locksmith salary is not that attractive compared to starting your own business.

Firstly you will work less hours as a sole trader working for yourself and secondly you will earn more money so it’s a no brainier really to start your own locksmith business from home.

It is also very inexpensive to get started as a self employed locksmith and it will beat the salary you will get as a locksmith working as an employee.

All you need is some simple hand tools, a few specialized picking and opening tools, a vehicle and a mobile phone! Of course you will need some other things to grow your locksmith business such as a good website that ranks highly on google. 

Conclusion:

So as you can see, I have answered the question of how much do locksmiths make with this locksmith salary breakdown.

Your own mobile locksmith business – Earnings of £60,000 + net profit Per Year

Employee Locksmith – Earnings of around £25,000 after tax 

Are you interested in becoming a locksmith?

I have created a free video especially for people with no experience and on a low budget. My business model is start small and grow big!

You can learn more about why I decided to teach locksmithing right here:

Watch the video and hear my story here.

You can also find out what tools you need as a locksmith by visiting the Locksmith tools page.

Thanks for reading and I hope to see you on one of my online courses :)

Alex