Highly Regarded Locksmith Business with Recurring Revenue Contracts

Price: $175,000

Location: South New Jersey

Industry: Locksmith, Locksmithing, Security,Mobile Services

Listing ID: BAELOCKSMITH


Listing Description

This full-service mobile locksmith business has long-standing recurring revenue contracts with Major roadside assistance and armed security services companies. They have been in business for over 30 years. This locksmith business is based down in South Jersey but have contractual accounts spread out throughout the state that provides them with exclusivity to emergency roadside assistance work in numerous different counties. Many consider Locksmithing businesses to be very durable, consistent, and “recession-proof” businesses. And that fact is true if you look at this businesses financials during economic downturns, their revenue & workflow always stays consistent, growing year after year.  Let’s face it- there will always be someone, somewhere who needs the service of a locksmith.

This is a very lucrative business that services residential, commercial, and automotive customers.  It also has an indefinite contract with a major armed security company. They service every all the equipment for this company nationwide!  This account keeps the business and it’s employees busy during the offseason which is great.

Highlights:

  • Excellent Search Rankings on Google, Bing, Yelp
  • Fine Tuned Proprietary SEO & Digital Marketing Strategy
  • Relocatable Business
  • Durable and consistent sales & cash flow
  • Recurring Revenue Contracts
  • Always Busy
  • High Barriers to Entry in the Communities that they service

 

 

 

Listing Details

Total Sales: $237,580

Cash Flow: $85,000

FFE: $25,000 (Included in Price)

Inventory: $19,187 (Included in Price)

Reason For Sale:

Semi-retirement and other business interests

Training & Support:

Seller is adamant about making sure the next owner is successful. He is willing to fully train the person who buys this business during the 30-day transition period post-sale. As well as provide on-going support/consulting for as long as necessary to ensure success.

Operation

Year Established: 1990

Year of Last Acquisition: 2006

Days & Hours of Operation: 24/7

Owner Hours Per Week: 10

Employees: 2 FT Locksmiths 1 FT Dispatcher, & 2 Sub-Contractors

Managers: 1

Location

Type of Location: Home Office

Relocatable?: Yes

Summary

Owner Qualifications:

New owner should possess strong mechanical skills to lessen the learning curve of the locksmithing business. There are many vocational classes that teach this trade and of course the seller is going to provide training as well.

Competition:

This business is the only game in town. They have an incredible reputation as the best locksmith around. A simple google search shows a bunch of excellent online reviews that they have built over the 30+ years in business. This business has a very stron footprint in their area. Especially with the contract based work that they do. Competition is minimal.

Potential Growth:

This is a locksmith business is poised for growth. The current staff can handle 30-35% more work before the business will neeed to hire another FT locksmith. The current owner has also been very wise by continually optimizing his website with SEO. They organically appear number one on all of the major search engines in their main area. The business also has a very effective proprietary digital marketing strategy that consists of all of the best “keywords”.  With this knowledge that has been fine-tuned over the years, this Business can basically scale up at the click of a button and a decent marketing budget.

Financing/Terms:

Negotiable