Starting your own locksmith business may be the key to unlock your earning potential and freedom over your work/life balance. If you’ve got a few years of locksmithing under your belt and are thinking about going out on your own, you’re not alone. Your trade skills are essential, but they’re only one part of running a successful locksmith business. You also need to understand legal obligations, set up the right business structure, market your services, and build reliable support systems.
For the best tool to start your flooring business, try Tradify free for 14 days!
Low on time? Skip ahead!
Starting a business is a huge step, one that will likely impact your life for years to come. Before diving into business setup, it’s important to define your “why.” This guiding principle will help you shape decisions around pricing, workload, investment, and growth — and keep you going when the pressures and stress begin to rise.
There’s no wrong answer — but being clear about your motivations will help you stay focused when things get busy. It also impacts practical choices like:
A solid financial foundation is one of the most important parts of starting your trade business. Understanding what it costs to run your business — and what you need to earn to stay afloat — will help you make smart decisions from day one.
List out all the expenses involved in getting started and keeping things running:
This gives you a clear picture of your break-even point — the minimum you need to earn to cover your costs.
Tradify’s Charge-Out Rate Calculator
Once you understand your costs, work backwards from your income goals to set a charge-out rate or project pricing. This helps you avoid undercharging and makes sure you're earning enough to support your lifestyle and reinvest in the business.
Your pricing shouldn’t be guesswork. It should be based on real numbers — and reviewed regularly.
Profit Margin Calculator
No time spent planning is wasted. Setting aside time to review your business finances every month or quarter helps you stay in control — and ensures the decisions you make align with your long-term goals.
Reviewing your numbers can help you:
Have you thought about how you're going to stay on top of your books? Perhaps you'll transfer your business data to accounting software, hire an accountant — or both.
To make things even easier, Tradify also integrates with your favourite accounting software:
Once you’re clear on why you’re starting your business, the next step is to get everything set up properly from a legal and financial perspective. This part might not be as exciting as branding or buying new tools, but it’s essential to protect your business and avoid costly mistakes later on.|
Each structure comes with different tax obligations, admin responsibilities, and risk levels, so it’s worth getting professional advice from an accountant or business advisor.
If you're unsure, check your local industry authority, licensing body, or small business association to ensure you're meeting all legal requirements.
Need more help with insurance? Check out Tradify's Business Insurance Guide for Tradespeople
Tradify helps thousands of tradies streamline their admin and stay compliant — without getting bogged down in paperwork.
Whether you’re cutting keys, rekeying locks, or installing access control systems, you’ll need a solid collection of tools and equipment. Think beyond the basics — your work vehicle is also a mobile workspace, so fit it out for efficiency and security.
Running a professional locksmith business means staying on top of scheduling, quoting, and paperwork — especially as your workload grows. Using spreadsheets or paper job sheets might work for a while, but they’ll quickly become time-consuming and error-prone.
Tradify also makes it easier to manage emergency callouts and last-minute schedule changes — common in locksmithing work.
“Using Tradify has taken the stress out of managing jobs and helped me present a more professional image to customers.” — Joshua Roberts, Shield Locksmiths
6. Go solo, partner up, or hire help?
Once you’ve got your business legally set up and your tools in place, you’ll need to decide how you want to operate day-to-day. Will you run the business solo? Bring in a business partner? Or hire someone to help with the workload?
Each option has pros and cons — and the right choice will depend on your goals, how busy you are, and how much responsibility you’re willing to take on.
Many locksmiths start out solo — it’s low risk, straightforward to manage, and allows full control over your work. You keep all the profits and can stay flexible with your schedule. However, you’ll be doing everything yourself: quoting, invoicing, marketing, and the actual labour.
Solo operation is a great fit if:
A business partner can help share the workload and bring complementary skills — for example, one of you might focus on site work while the other handles admin and marketing. Just make sure you have a written agreement in place outlining roles, responsibilities, and how you'll split the profits.
This option is best when:
If you’re getting consistent work but can’t keep up with demand, bringing in help could free you up to focus on expanding your businesses or increasing the amount of jobs you can take on. But hiring comes with added responsibilities like payroll, insurance, and employment law compliance.
Before you decide, make sure you understand the difference between employees and contractors. It’s not just about how you pay them — it affects legal obligations, tax, and the type of relationship you’re setting up.
For more help check out:
Tip: Even if you're not ready to hire right away, tracking how many jobs you're turning down or how much admin time you’re losing can help you decide when it's time to bring someone on.
Getting your business set up is only half the battle — now it’s time to get the word out. Whether you want to focus on emergency callouts, residential rekeys, or commercial access control, marketing helps customers find you and builds trust in your brand. Map your local locksmith market—are there suburbs with long wait times or no 24/7 service? You may find pockets of demand worth targeting with tailored marketing or emergency call‑out pricing.
You don’t need to be everywhere — just pick the channels that suit your business and your customers.
Start with the basics:
Social media is a powerful tool for small trade businesses — especially in visual or trust-based industries like locksmithing.
Consistency is key. Posting once a week with quality content will beat daily spammy posts every time.
While digital is important, offline marketing still works — especially in your local community.
Offline Marketing Ideas for Trade Businesses
Marketing doesn’t need to be expensive — but it does need to be intentional. Set aside time each month to track what’s working and adjust your efforts accordingly.
Starting a locksmith business isn’t a one-time event — it’s an ongoing process of learning, adjusting, and improving. The most successful business owners regularly step back to reflect on how things are going and where they want to head next.
This doesn’t need to be complicated or time-consuming. Set aside time every month or quarter to ask yourself a few key questions:
If something isn’t working, adjust. Your goals may evolve over time — and that’s a good thing! The freedom to shape your business around your life is one of the biggest advantages of working for yourself.
Starting a locksmith business is a big step, but with the right preparation, tools, and mindset, it’s one that can lead to a rewarding and flexible career. From legal setup to quoting, marketing, and growing your team — you don’t have to do it all at once. Start where you are, plan carefully, and keep adjusting as you go.
Tradify is here to support you every step of the way. Whether you're a solo operator or planning to grow a full team, our all-in-one job management software is built to help trade businesses thrive.
Start your free 14-day trial of Tradify or book a free demo.