Despite the boom and bust cycle of the construction industry and the larger global economy, people and buildings will always need locks and security systems. But the products and systems used to provide that security are constantly evolving and locksmiths must be willing to adapt quickly if they are to stay relevant in today’s high-tech world.
Below are three things locksmiths can do to compete more effectively in this rapidly changing industry:
- Become more knowledgeable about electronics. While mechanical hardware is the foundation of your business, it’s important to realize that the future of the security industry lies in addressing the needs of an increasingly connected world. It’s vital that you understand electronic access control and the integration “conversation” because although electronic solutions don’t replace mechanical products, they can make them more powerful. It’s also become common for both types of devices to be installed in a facility. For instance, one part of a building may only need mechanical hardware, but other areas may be best served with key cards and other more high-tech methods. The more versatile your skills, the more marketable you will be.
- Offer value-added services. Increase your potential for recurring revenue by extending your services portfolio. Locksmiths can help building owners and managers with periodic facility assessments to evaluate existing conditions and identify any deficiencies. You can also use this opportunity to suggest cost-saving measures such as adopting a door hardware standard. It’s not uncommon for building owners to maintain door hardware from several different manufacturers, which may have been the cheaper option on the front end, but ultimately makes maintenance and repairs more costly. You’ll spend more time trying to troubleshoot a variety of hardware styles and manufacturers and the speed of repairs will be dependent on your having that particular part in stock.
When there’s a standard, you know what you need right away to rekey or repair a door and you can limit your stock and keep a smaller inventory. That, in turn, allows you to control costs while improving your ability to be responsive to the customer’s needs and, ultimately, decreasing their costs as well.
- Develop specialties and areas of expertise: The future of the locksmithing industry is in specialties. Security systems are only going to become more and more complex, and the need for a locksmith is only going to increase. By combining your core strength in mechanical hardware with digital, mobile and interconnected electronic solutions, you will be able to offer customers a solution that is both strong and adaptable to future technologies.
As H.G. Wells wrote back in 1945: "Adapt or perish, now as ever, is nature's inexorable imperative." No amount of complaining, avoidance or denial will slow the unrelenting pace of technology, so it’s best to embrace it, ideally with curiosity and enthusiasm, but simple determination and a willingness to learn will do.
Although adapting in such a rapidly changing industry can be frustrating and even overwhelming at times, there are resources available to make the process easier. Consider alliances with manufacturers who can build your knowledge base and offer training on the latest types of security systems. Seeking out the help of experts will accelerate the process of expanding your skill set and ensure you and your business have all the necessary resources to not only survive, but thrive in the years to come.
Minu Youngkin is integrator marketing manager at Allegion
