Franchise Developments

April 2, 2020
Business management experience, a substantial investment and skilled employees sought for locksmith franchises.

One of the hallmarks of our business has always been our business name. A large amount of locksmith businesses include the first or last name of the owner as part of their business name. This indicates that when most locksmith businesses were established, they were created as individual companies with no local or national business connections. Most locksmiths are rugged people prepared to succeed or fail on their own merits.

An interesting phenomenon during the last decade is the emergence of locksmith franchises. Credit has to be given to any group of entrepreneurs who can succeed in an industry dominated by sole-proprietor owners. According to internet information, locksmith franchisers are searching for a new kind of candidate. This person may know little or nothing about the locksmith industry but they should have some type of business-management experience. According to the internet this person must also have $50,000 $99,000 to invest. Additional investments and annual costs might be required.

Locksmith franchisers offer several benefits. A locksmith franchise provides an established brand name. A franchiser may also have established national accounts, provide local promotions and offer specialized training. Franchises basically provide a business startup system designed to solve problems encountered when opening a new business as a sole proprietor.

New franchise owners are expected to concentrate on business development while hiring locksmiths to perform servicing duties. A recent email circulated in the Midwest describes how one locksmith franchisee is seeking expert technicians for hire. One of the best places to find trained locksmiths is at established locksmith businesses. Regardless of what company or franchise is doing the hiring, systematically obtaining employees from existing companies cannot be viewed as a positive step for our industry.