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!