How To Start Your Own Locksmith Business From Home | Mr. Locksmith™

How to Start a Home Based Locksmith Business | Mr. Locksmith™ Video
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Mr. Locksmith™
Mr. Locksmith video series on how to start and set up your own locksmith business. Terry Whin-Yates shares his personal experiences and offers advice on choosing the right location, determining the population size needed to support a locksmith business, considerations for being self-employed, legal and licensing requirements, advertising and marketing strategies, selecting a service vehicle, and the importance of quality tools and products.
Terry Whin-Yates is a 3rd Generation Locksmith with a BA (Hons) Criminology. He has 35+ years experience in the locksmith and security industry and is a locksmith trainer providing On-LIne and Hands-On locksmith training to individuals, locksport, groups, businesses and Law Enforcement Agencies across North America and Asia.
mrlocksmithtraining.com/about-...
email: [e-mail]‬ for more information.
Essential Guide: How To Start A Successful Locksmith Business
00:00 Introduction to Starting a Locksmith Business
01:15 Understanding the Importance of Location
04:17 Deciding if Self-Employment is Right for You
06:40 The Pitfalls of Losing Focus in Your Business
08:10 Potential Earnings in the Locksmith Business
10:11 The Importance of a Home-Based Business
13:48 Choosing a Business Name and Securing a Domain
15:34 The Importance of Trademarking Your Business
16:56 Deciding on the Legal Structure of Your Business
18:33 Understanding the Importance of Insurance
19:00 Navigating Licensing Requirements
20:03 The Importance of Business Licensing and Taxes
21:10 Setting Up Your Business Bank Account
22:49 Choosing the Right Service Truck for Your Business
24:50 The Power of Advertising and Branding
25:40 Why You Should Avoid Print Advertising
27:15 Building Your Online Presence
30:00 Investing in Quality Tools and Stock
32:20 Recap and Final Thoughts
#locksmith #mrlocksmith #lockpicking
Mr. Locksmith™
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[@xino_z]

Not a locksmith but this was excellent for any skilled business person. Really excellent.

[@onthexintexas]

7:00 - I've seen this in so many industries. I started an auto-detail business, built it up over 1 month, made $8,000 my first month in business, operated for 6 months and then sold it to a guy who drove it into the ground and closed about 3 months after he bought it. He took his income and instead of reinvesting it into the business he bought a new truck, a motorcycle, and was at the bar almost every night. I even offered to be a consultant for him for the first 6 months for 10% of his profits and he turned me down. I still have customers calling the number when I owned the business asking for service. He didn't want to keep my number he wanted his own number, dummy.

[@israelalvarado9720]

8k will make me happy …. I don’t need 25K to be happy . It’s family first and happiness !!!!

[@JeIIyBOB]

The part about sitting in the bar hit home for me...nothing better than cracking open a beer at 8 or 9pm...and of course, the second you’ve had a few, the calls start rolling in.

[@JohnTurner313]

Excellent info, I took notes. Thank you! Especially the trademark advice. Hard to believe this only has 5K views but hey, that means less competition! :)

[@daudfw8440]

One truck one family!

[@elijah8608]

I must say that the more and more I look up information about locksmiths and creating a successful business I find myself watching your videos. I have been on the the fence about starting a locksmith business and Mr locksmith videos are hands down the best. Thank you for being as transparent as you have been! Keep the videos coming!

[@monkeyboycom]

In the same boat as you right now

[@gerryjimenez6125]

Thank you for your video making and sharing, I am 60 years old and was a master mechanic years ago, now I work on gas turbine engines. I hope to leave the industrial trade and get into self employed locksmith Trade. Thanks again!

[@martih7533]

Great video, cant wait to see the next! NOTE: when U get into Purchasing Good equipment (and Not the Junk), Please include some of the Junk U have purchased in the past....why it failed and what your experiences were with it.....as we all learn (Hopefully) from our mistakes....and im sure we could all learn from yours as well....hopefully not making the same ones ourself. Seems to me i recall a video or 2 about an SEC-e9 about how Great/Bad it was....VERY Helpful to me, Thnx

[@knotsyourdaddy8088]

Thank you Sir, you’ve just recapped my 45yr career and repeated the same advice I also have given for the past 30years. Great job!!!

[@24hrMrLocksmith]

I keep on getting requests so I made the video :-)

[@safwanrahman8481]

Great video sir. I'm young Malaysian thinking about starting a locksmith business. Watch a lot of lockpicking videos on youtube. Already buy lockpicking set and got several training locks. Can't wait to have my own truck. Thanks for inspiring me sir :)

[@wahomewaribu1396]

Hey! I have just listened to your video on how to best start a locksmith and I loved the part about making it homebased. I have learnt quite a lot and I looked forward to viewing your other videos. Thanks.

[@Jikiface]

Heavily considering starting my own locksmithing business. I got a taste of it at a previous facilities job. I would LOVE to do this every day. GREAT information in this video! :)

[@karol.chrzaszcz]

Great! I'm starting similar business in Poland but most information from this video were useful for me. Thanks.

[@rehlers1]

Mr. locksmith is spot on @ 7:00. I am living proof of it, I've been in the bar several times and have had atleast 2 to 3 calls almost 10 minutes apart and did not either answer the call or sometimes answered and then told them I wasnt available. Oh and the hobbies for sure, been doing a lot of fishing and golfing. My business has surely suffered. This concept applies to many small business owners not just locksmithing!

[@colinblake24]

Just viewed this video and love it!!! Thank you so much!!

[@JoshColter]

Anything before 10:19 is to filter out the weak. Edit: 13:30 is probably a better place to start.

[@locksmithburt7874]

Good job on conveying the foundations of business, I too am a second generation or “recycled locksmith”, 37 years, 17 as one man show. I have a few things that I learned from your presentation that I’m going to correct in my business, thank you. The best thing I did in my business is nurture a specialty market, inventory and stock become less and easier, very few competitors, don’t have to advertise. I really agree with your “happiness factor “ in strategy for business planning.

[@24hrMrLocksmith]

Work Smart and Work Hard :-)

[@AutisticThinker]

A fantastic overview, cant wait to see the drill into each step.

[@giljuinio2089]

Everything well said.. What Mr. Locksmith shared applies to almost all any other service oriented businesses. ☺

[@nickv1008]

I wish I had this advice when I was 20. Different business, but you are giving advise that could apply to many small businesses. Always get an agreement with customer signature, listen to him about checks. Always leave a business card. Thanks 👍👍

[@24hrMrLocksmith]

Nick V Thanks

[@acihawaii]

Retired would like to do locksmith specialize in automobile. Retired real estate appraiser.

[@Rocketlockopener]

This video is better than the ones you have to buy In starting a locksmith business very well done.

[@24hrMrLocksmith]

Rocketlockopener Thanks!

[@tennesseelockpicking8803]

Thank you for making this video. I'm right now trying to get everything I need to start my own locksmith bizz. Can't wait for the next one. Lol that's the main reason why I want to have my own business is because I'm sick of working my but off for butt holes plus I just really lock locks of all kinds and bypasses and all the other fun stuff.

[@mikeweatherford1847]

Lockpicking and bypassing locks is literally like 2% of what a locksmith does. I wish you well, but understand this.

[@GalokVonGreshnak]

You might want to look into pen testing instead if bypassing is your interest.

[@thething6754]

Thinking about starting as a locksmith and this vid is so helpful! Really appreciate you mentioning about a load as well, that could get me the truck and gear I need to start 😎👌

[@FTRVDenny]

We have a small shop but we also specialize in doors so we have a door showroom. One of us is on the road while the other works in the shop with doors, master keying and SFIC

[@djyodagarcia]

Keep the videos coming man I'm thinking of starting my own business and your words of wisdom are a lot of help. Maybe a video on first time locksmiths and what machines are good to start up and price point.

[@user-qt4rj8zh4z]

Very punctual and Professional. Would highly recommend this company. All work carried out without a problem. Great customer service, the fellas are always polite. Couldn’t recommend this business enough.

[@Silvestan1]

Thank you for this video sir ❤ respect from Romania 🇷🇴

[@kareemjohnson8059]

I like his style..Str8 up no chaser,my kinda guy. Very informative on any lever pretty much 👌 👏 👍

[@shavanino]

Thanks 🙏🏼 I’m doing for 21 year Keys , I work and a small key shop locksmith I repair , rekey locks , pick , But don’t do installation , but I have the Idea it’s time for me to do something Customer know me in the neighborhood in Brooklyn The passion I have , I love what I do It’s just need to do something For my family

[@mal13able]

great video Terry,i love your ideas and i am hopefull that after more practice and a few more tools ,learning so much and so far its a great hobbie ,but i am in Richmond in properety management and understand how many locks we call a locksmith forto change a deadbolt or just re-key some blocks i feel as a one man one truck one license{$390.00} in BC,is something i would enjoy ,again love the info ,all the best to you Terry.

[@KenColeman-mm9zb]

Thanks!

[@patricklucas8008]

Great video! You are very professional! Im a bit nervous to start a company but i think you gave me some great advice to start up.

[@BenMarvin]

Good stuff, lots of good info here. A lot of it applicable to other types of one-person businesses. Looking forward to future videos in this series.

[@24hrMrLocksmith]

Ben Marvin Thanks!

[@bruhbroseph]

I make 2k a month now. This might be doable for me, plus I can live in the other half of the van and actually afford the rent. I'd love this.

[@OmniHeIix]

Would love to see a video that, as a mobile locksmith starting out, the absolute must have tools or info needed to succeed. Thank you, please

[@24hrMrLocksmith]

OmniHeIix I do have all the tools needed for Automotive Locksmithing in an online locksmith course www.mrlocksmithtraining.com

[@lochlansmith7096]

Thank you for the great info!

[@DEATH_TO_TYRANTS]

This was a wonderful video. Thank you so much.

[@alext2963]

Great info and video. I already have my own small business but looking to include locksmith services. Really nice video

[@jesus98.d54]

This was what i was exactly looking for thank u

[@deweyplanck9850]

I’m not a locksmith but what’s true for any business is use only quality tools and sell quality. I was a tradesman most of my life and I can’t count the number of times that having quality tools and knowing how to use them opened doors for me.

[@V21IC]

This video is going to serve as part of developing my business plan. I see that's applicable to almost any service oriented business.

[@beatburnerz8165]

This is a great video. I just love everything you spoke about life and business. You’re right you have to balance it out.

[@securetechlocksmithco.7383]

I like your videos. Thanks and keep up the good work.

[@dtaylor4200]

This is great stuff regardless of what your profession is.

[@Hello1026848]

I loved this video. Excellent A++

[@felixmarquez2044]

I benefited from your explanations about home basae locksmith. I am one of the new locksmiths in our area.

[@charbelsafi7389]

thank you for this video. also applicable in Lebanon.

[@serge805]

One man one truck! Thanks for this video

[@nickv1008]

And his trusty companion smartphone!

[@WhatMACHI]

This was a brilliant video! Not just from a locksmith perspective but from an overall business perspective. Cheers.

[@grlaun]

Absolutely fantastic advice. More on EVERYTHING!

[@keithnisbet]

Thanks for this incredibly useful and practical information

[@TXJasper]

Great content! Applicable to most small businesses. I ejoyed the video!

[@jimsawyer6955]

Awesome video. You did catch me off guard when you said you have to "Deckle" your van though Lol

[@mebobbygillis]

This is great stuff. Thanks

[@daswazichild7711]

Just wish i saw this before i started, thank you i learnt a lot.

[@reginaldoqueiroz8980]

Muito bom perceber que apesar da diferente cultura e costumes o mesmo bom senso e valores de vida estão presentes.

[@bambam4314]

Awesome presentation and Great Advice!

[@underlockandkey8908]

Thank you

[@V21IC]

Thanks for the this excellent video! The fact that it is highly opinionated, to me, makes it even more invaluable video! Thanks. I'll be learning from you!

[@jeffflanagan2814]

I like your thinking!

[@TurkVladimir]

Thanks A Lot Great Video

[@andresestrada2835]

Very cool. I love locksmith. The video helped me start think about locksmith business.

[@24hrMrLocksmith]

I will add more videos.

[@chocksaway100]

Fantastic information thank you from the UK.

[@judodavid1]

Thank you for the knowledge

[@kevin.gadgeteastman7531]

Great info lots of food for thought

[@randytse595]

thanks so much

[@FallenFeathersOutdoors]

I am a Over Head Distribution Lineman For a very large Power Company in the SouthEastern United States. I’ve been a Lineman for years. I have been looking for something that I can take on as a side job and eventually turn into a career and being self employed. And I believe Lock Smithing is just what I’m looking for. Would love more “How to” Videos on how to start. Would really appreciate speaking with you and learning more as to what this will require out of me, as I am getting older now and am really killing my body out in this heat😅. Thank you for your information and hope that you reach out to me soon. Thank you Sir, have a Nice Night.

[@24hrMrLocksmith]

Send me an email Terry @ mr locksmith .com

[@dandoucette4379]

Very good information from the first video for sure. I onto the rest.

[@mal13able]

Excellant video Terry,i am learniong fast popping all kinds of locks,i need to do more of the basic installation and re-keying,i follow you and learn all the ays to attack locks ,i am so grateful it is now my hobbie,however in a year or so i want to be a auto locksmith,as a 24/7 guy here in Richmond,and guess who i want to work with,you!,for4 all the great picking skills i now have i thank you Locknoob,The Lockpicking Lawyer are all so knowledgable,once again thanks for all the reviews you do,ihave Southords electric pick ,the Klom junk one ,2 pick guns and just cannot get enough of popping and picking locks everyday to stat sharp.I will be in touch when getting the license,and loooking dorward to speeking with you then,cheers Mal in Richmond

[@donovanolvera1043]

Do you have any advice for someone like me who has no experience but really interested in starting a small business?

[@youssefbentachfin]

Thanks mate for your nice advice Iam playing to do it in London

[@crash_override9435]

I started an automotive service business with low barrier to entry. There are 12 other companies within 8 miles of me. Had no issue becoming top 3 within first year. Who you are and whether you are ready for true commitment, and to do whatever it takes - will also determine your level of success. I am just tired of working full time in addition to operating, running and growing the business. I'm burnt.

[@pawlow314]

great advices ,

[@sandynarayan5188]

thank you sir...

[@jerrybenard7419]

I'm very excited to see a professional opinion on a business known about for but I definitely interested in an opportunity to enter it. Thanks for the info 👍

[@SoundAssault]

Very good information - thanks for the video! 👍

[@24hrMrLocksmith]

Gaz Lewy Thanks!

[@rds9872]

This was an excellent video, thanks!

[@autokeyservices]

Great insights

[@1trucxhondamov589]

I wish I got in this business 20 years ago! The local locksmith? Pops was an apartment building manager and I learned something about keys and locks when I was a kid! The local locksmith? Last year I need a copy of a Schlage key. The guy makes a copy using a Kwikset key. I told him, this is a Kwikset and I need a Schlage, the guy argued me down and said it would work, get home, I know it, didn't work. I had to wait until his boss got there to straighten it out and it still cost me. They got more balls than brains and I don't like dealing with them.

[@rajaqassim2606]

thnx sir im start new business lock key

[@johndefrank28]

Very informative keep it up

[@nicardoperreira1593]

it's wise to have a business plan

[@danieloconnor4380]

Videos is brilliant thanks for that

[@mikemcpike3488]

Thank you so much, this helped shed some light on the logistics of what I’ve been trying to do, I’m 19 and have worked in the field for a little under a year but I love it and want to become more independent with my passion. Thank you!!!

[@24hrMrLocksmith]

Mike Serpa I was 19 when I started my first locksmith company.

[@keithreeves567]

Amazing Informative video. Just got another subscriber

[@grymgaming5541]

best video by fat, you could sell this information, i fgeel so good about this, ty brother

[@faradaymaxwell]

Great video !!! More please. Want to start your courses!

[@frankrodriguez5380]

thnks

[@TheLockLab]

I love being a Locksmith, but lots of people seem to think i you can go on a course by some cheap tools and away you go this is not the case its a long expensive journey

[@taimooralimughaltaimoorali8397]

great videos .Dr . Mr lock smith .lam lock master .

[@brianmpofu2862]

great content

[@jacquespercival1872]

great video, for the last month or so I have search a lot of videos on locksmith and lock sports. Then I came across your channel and this video and it got me thinking, I am retiring soon and I know that I will need something to keep me busy with some flexibility. Mobile locksmith looks very interesting, I would love to have an opportunity to chat about what I need to learn, licensing in BC and what I have in mind as it would involve working in the southern Cariboo region where there is only one locksmith with a brick & mortar store.

[@24hrMrLocksmith]

Email me and we can setup a time to talk “[e-mail]”

[@PsiDeltaWye]

Good advice. How about a video on your work truck tools and setup.

[@24hrMrLocksmith]

Planning a few videos now.

[@kawaiisenshi2401]

I would love to build a 7 Figure locksmitg business. My Father was in the trade and earned over 100k per year. I would like to continue his legacy but build a sellable business that i am able to pass on to my children

[@the_E4_Mafia]

What did the first thing be to get training to be a locksmith? That would seem to be really the first step

[@09klx250t9f]

Awesome video series start! envious of the other areas, but to be able to do this I just can't take the 4 years of apprenticeship to become a journeyman locksmith so I cam acquire a licence here in the province of Alberta :( however I am in a good career at the moment that is recession proof so I guess it will stay as a hobby.

[@thecryptopotamus3474]

Its a 3 year course now you can do distance and still work.

[@24hrMrLocksmith]

Depends on the Province / State regulations.

[@allthingssilver7635]

Do you have a course that list all the tools needed for residential lock smithing? Been practicing on locks and getting pretty good. Full time fire fighter in Raleigh NC. Thinking about starting a side business helping ppl get into cars and houses since I only work 10 days a month at fire dept. Have a lot of free time to start a business of my own.

[@matthews.5369]

Any tips for getting money to invest in a good key machine and some key stock for a new business that has not built up a local presence, like what type of loans are best?

[@Locksmith4you]

Nice