Prospects must be aware of and trust your brand before they can buy your services. However, it takes time to differentiate yourself from established locksmith businesses that have gained customer trust and a recognizable brand name, which is challenging.
One way to overcome this challenge is to join a franchise—register with a successful business with an established business model, customer base, and brand. This allows you to latch onto the brand’s reputation to attract customers.
Discover what franchises are, the top locksmith franchises, and how to choose the right one.
To learn more about how ServiceTitan can help you run your Locksmith Franchise business more efficiently so that it’s optimized for growth, you can request a demo with our team.
What is a Locksmith Franchise?
A locksmith franchise is a business model or contractual agreement in which a business owner (or franchisee) buys the name and rights of another locksmith business (or franchisor).
The franchisee periodically pays royalty fees—a fixed amount or a percentage of their profits—and other additional fees for training, ongoing support, using the franchisor’s operating system, etc.
This gives the franchisee the legal rights to sell their services using the franchisor’s trademarked brand name, business model, and operational processes.
Before a franchise agreement is signed, the franchisor is legally bound to disclose potential risks and other key details in a franchise disclosure document. Once the agreement is signed, the franchisee must obey the terms and conditions or run the risk of lawsuits.
Franchise agreements don’t mean outright or perpetual ownership. Usually, they have an initial term of five to ten years, renewable for up to 30 years.
5 Top Locksmith Franchises to Know
Below, we’ve researched the top locksmith franchises with which to partner. We’ll also cover their location, royalty, and franchise fees, as well as how to register.
1. Pop-A-Lock
Source: Pop-A-Lock
Pop-A-Lock is a locksmith company founded in 1991 by two former law enforcement officers in Louisiana. The franchise has an extensive reach, with locations serving over 4,500 communities across Canada, America, and Australia.
The franchise is a full-service organization offering multiple locksmith solutions, including automotive, commercial, residential, and emergency lockout assistance.
Franchisees receive advisory services for starting and running a successful locksmith company, as well as equipment, franchise fees, and comprehensive training programs. This makes the program ideal for people lacking technical expertise or starting a locksmith company for the first time.
To be eligible, franchise owners must have a net worth of $250,000–$500,000 and possess $30,000–$100,000 in liquid cash. The initial investment costs between $99,993 and $135,002, including a franchise fee of $15,500. Ongoing royalties are capped at seven percent of profits.
You can enroll in the franchise program by visiting the company’s franchise information page to download the application consideration form or by calling its help desk.
2. The Flying Locksmiths
Source: The Flying Locksmiths
The Flying Locksmiths is a popular locksmith company headquartered in Westborough, Massachusetts. Although the franchising operation is just nine years old (it began in 2015), the company has served customers for over seven decades.
The Flying Locksmiths trains franchisees on the technical and operational aspects of running a locksmith business. This includes locksmithing, accounting, marketing campaigns, recruiting, and financial management.
Furthermore, the franchise's units work mainly with commercial high-tech access control systems such as keycard doors, intercoms, and CCTV security cameras. This makes them ideal for business owners transitioning from basic locksmith services such as rekeying and deadbolt installations.
To become part of The Flying Locksmiths family, franchise business owners must have $100,000 in liquid assets, a net worth of $200,000, and a great credit rating. Additionally, their territory must have a minimum of 200,000 residents and 5,000 operating businesses.
The initial investment is $185,000–$428,396, including a minimum franchise fee of $75,000 (which increases based on territory size). Accepted franchisees pay 12 percent of profits as ongoing fees, eight percent as royalties, and four percent for call center fees.
3. Acme Locksmith
Source: ACME Locksmith
Acme Locksmith is an Arizona-based, full-service locksmith company that was launched in 1997. Its franchise program, which started in 2017, currently has three units based in the United States.
Unlike other franchise programs, Acme Locksmith has two different franchise models.
The first is the basic mobile-only model, meant for new business owners with a limited budget seeking to reduce their overhead. It’s tailored towards franchisees residing in areas with a high demand for mobile locksmith services.
The other is the advanced franchise model, which fully integrates the franchisee’s operations with Acme Locksmith's, including bookkeeping, inventory management, sales, etc. It’s ideal for franchisees with sufficient funds to cover a physical storefront and who are ready to be a full-service company.
Ideal candidates for a new franchise must have $50,000 in liquid cash and pay an initial investment between $99,117 and $205,050 (the franchise fee is $35,000). However, veterans enjoy a $5,000 franchise fee discount.
After the contract is signed, franchisees are obligated to pay seven percent ongoing royalties and an additional two percent for advertising.
Applying for an Acme Locksmith franchise starts with filling out the franchise application form on its website, followed by a visit to the franchise’s headquarters. Once accepted, franchise business owners participate in a series of training sessions and receive assistance, based on their chosen franchise model.
The initial franchise agreement lasts ten years. Both parties can negotiate an extension after it expires.
4. Mr. Rekey Locksmith
Source: Mr Rekey Locksmith
This Texas-based franchise has been operational since 1995 but started franchising in 2012. Since then, the franchise has expanded into 30 states in the United States.
One benefit of the Mr Rekey franchise is that it allows business owners to apply for exclusive territory status, which stops the franchise from opening any other location within that territory.
Franchisees generally undergo two weeks of classroom training before joining the franchise. They also receive ongoing operational and marketing support throughout the contract (usually a maximum of seven years).
To start a Mr. Rekey Locksmith franchise, applicants must plan for an initial investment of $33,000 to $80,000 and a franchise fee of $10,000 to $30,000. Veterans enjoy a 20 percent discount. Other associated costs include a continuing royalty payment of 7.5 percent and an ad fee of two percent.
5. Noble Locksmith
Source: Noble Locksmith
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Noble Locksmith is a California-based franchise that mainly offers mobile locksmith services. Compared to other franchises on this list, it is a very young franchise.
Headquartered in California, the company was founded in 2017 and became a full-fledged franchise five years later, in 2022. It currently has a network of 14 units across the United States.
A major advantage of the franchise is that locksmithing experience isn’t necessary. Once an application is successful, the franchise trains franchisees and promises ongoing support.
Additionally, exclusive territory applies throughout the life of the contract agreement. This means that franchisees have the opportunity to operate with minimal competition.
Franchisees must have liquid cash of $100,000 and a net worth of $105,000. They must also make an initial investment of $73,450–$178,600, including a franchise fee of $34,000 (veterans pay $30,600). Royalties stand at eight percent (seven percent for royalties and one percent for ads).
To apply, use the contact form on the company's website to send a message and wait for a franchise agent to contact you.
How to Choose a Locksmith Franchise
Like any business opportunity, purchasing a franchise must be a well-thought-out decision. You must consider multiple factors to pick a franchise that will contribute to your success.
The first step is to generate a list of potential franchisors. You can consult local business coaches, brokers, and franchise websites. You can also visit local franchised locksmith storefronts to learn more about their experience with the franchisor.
Next, get the franchises’ updated Franchise Disclosure Document (FDD). Then, whittle down the list to the few with fee structures and liquid cash and net worth requirements you can meet. You should also consider the franchise’s vision and mission statements to ensure it fits your beliefs.
Finally, use the following factors to pick the right option:
Ongoing support: Check the level of support the franchisor offers to franchisees. Is there training available? How do they manage marketing campaigns? Do they grant access to their customer base and supplier directory? You’ll need ongoing support to run the business successfully.
Item 19 documentation: This document reveals the franchise’s financial performance based on its sales and earnings over a specific period. Scrutinize the document to ensure the franchise and its units consistently generate profits, protecting your investment.
Available competition: Does the franchise have storefronts close to or within your area? Are they promising exclusive territory status? It’s better to pick one that reduces the number of competitors.
Clear expectations: Pick a franchisor that’s transparent about the upfront and ongoing costs and the support and training they’ll be offering. Pay attention to additional costs such as insurance fees, ad expenses, grand opening fees, etc.
Reputation and brand recognition: Any franchisor you sign with should have a positive brand reputation because whatever affects them affects you, too. Ensure they don’t have lawsuits or complaints filed against them by customers or franchise business owners with legal authorities. Additionally, they should have a recognizable brand name that can attract customers.
Take your time reviewing each franchisor’s FDD. This will tell you a lot about their financial performance, exposure to litigation, training and marketing resources, and restrictions. Consult a legal professional to review the document and clarify any obligations.
How Can You Grow a Locksmith Business?
Although you benefit from the franchisor’s wealth of knowledge and ongoing support, you are still responsible for growing the business.
In a recent webinar, Rebekah Hatcher, who joined a reputable HVAC franchise, Aire Serv, emphasized the important role franchisees still have to play to succeed.
“Anyone considering going into a franchise, I will say [that] if you think it's going to be easier than what you were doing before, that is a lie.”
Here are some steps you can take to ensure the business runs smoothly and profitably:
Invest in marketing: Dedicate a portion of profits to running marketing campaigns to attract locksmith leads and retain existing customers. You can use ServiceTitan’s Home Services Marketing platform to track each campaign’s performance from one central location and see its revenue.
Employ the right people: Employees determine customers’ perception of a business and influence their decision to return and give referrals. Apart from looking at technical expertise, ensure anyone you hire has the right attitude to work and values.
Practice sound financial management: A company with poorly managed finances is on the road to failure. Therefore, invest in ServiceTitan’s Accounting Platform to measure your company’s financial health in real time. Use the Job Costing software to track job costs and increase each work order’s profitability.
Provide a great customer experience: Communicate with customers throughout the job cycle to ensure a positive experience. ServiceTitan’s Customer Experience software helps you text job updates to customers alongside a picture and a brief technician description so they know what to expect. You can also use the software to empower customers to track their technicians so they can plan to receive them.
Give customers multiple options: Boost sales by offering customers numerous tiered offers to pick one matching their financial situation. ServiceTitan’s Pricebook Pro empowers field techs to display good, better, and best estimates to customers in an attractive manner without hurting your bottom line. This compels customers to take action and generates additional revenue.
Invest in technology: Use software like ServiceTitan, our comprehensive locksmith company software, to track your business’s performance and access valuable insights to foster growth—Automate vital business operations such as service scheduling, invoicing, marketing, dispatching, and customer management.
Implementing these tips will help grow your business and outcompete other locksmith companies.
Over to You
Franchises are a great starting point for any investor or entrepreneur wanting to expand or enter the locksmith industry. However, it’s a decision you can’t afford to get wrong.
Therefore, use our tips as a checklist for picking the right franchisor. Remember to pay attention to details captured in the franchisor’s FDD and consult accountants and experienced legal professionals to understand your contractual obligations.
Finally, take the initiative to invest in technology like ServiceTitan to supercharge revenue generation and boost employee productivity.
ServiceTitan is a cloud-based, comprehensive software designed to meet a locksmith company's operational needs. It automates vital business processes like job management, invoice processing, and job management. Over 100,000 contractors nationwide use it to boost profits.
ServiceTitan Software
ServiceTitan is a comprehensive software solution built specifically to help service companies streamline their operations, boost revenue, and substantially elevate the trajectory of their business. Our comprehensive, cloud-based platform is used by thousands of electrical, HVAC, plumbing, garage door, and chimney sweep shops across the country—and has increased their revenue by an average of 25% in just their first year with us.
