Wholesale Costs
If you want some bargaining power when purchasing hardware and services from a locksmith, you will need to understand how locksmiths price their goods and services.
First, understand that there are costs in running a lock service. Besides these costs, locksmiths have a house payment, living expenses, car payments, college expenses, retirement, and all of the other things that people worry about. There is no reason that your full-time locksmith in Middle Tennessee should not bring home at least $30,000 to $60,000 per year after expenses. Why? Because he is taking risk as a business owner. Consider these expenses:
1. Insurance
2. Advertising
3. Vehicle
4. Tools
5. Licensing
6. Education
7. Income Taxes
8. Employee Benefits
9. Telephone
Second, you must understand that locksmiths are one of many middlemen that are found along the merchant trail. Because there are so many middlemen involved in commerce, not to mention the manufacturer and the end user of a product, a product that is made for $5.00 in Asia ends up costing $145 plus a service call of $50 by the time it ends up on your commercial door. This is reality.
Third, you also should realize that it is unreasonable to ask anybody to come to your home or place of business and install or service a lock and not receive a profit. On average, you should expect your locksmith to charge three times his cost on a variety of items. For example, a lock which costs the locksmith $10 will be sold to a consumer for $30. However, in the case of larger items which cost the locksmith $1000, he may only charge you $1400. In cases of volume purchases, the locksmith may add up his costs, like I did today, and just add a reasonable markup. Example: My cost on locks for a job today were $245. Four of these locks carry a 15 year warranty. The quote for 3 service calls, installation, key matching, shipping, and some free items was $620. I told the customer to shop around before he took my bid. I wanted him to be convinced that the product and service was competitive. He liked the price, the package, and the locksmith.
Here are some prices that locksmiths pay for the goods they sell you:
1. Glass door key cylinders (aftermarket) $6.00 to $9.00
2. Glass door thumbturn cylinders (aftermarket) $6.00 to $9.00
3. Cylinder for commercial knobs/levers (aftermarket) $6.00 to $9.00
4. All of the above (brand name) $15.00 to $45.00
5. Medium Duty Levers (aftermarket) $30.00 to $45.00
6. Heavy Duty Levers (after market) $70.00 to $107.00
7. 6 and 7 above (brand name) $175 to $250
8. Residential Grade deadbolts $10.00 to $40.00
9. Detex Exit Device with Short Paddle $170.00
10. High Security Lock Cylinders $45.00 to $65.00
11. Latch Protectors $6.00 to $15.00
12. Simplex L1000 Levers $275.00
13. Alarm Lock Trilogy (basic) $375.00 - $400.00
14. Panic Bars $195.00 to $1200.00
15. Key Blanks (basic) $.29 to $1.75
16. Adams Rite Style Deadbolts for Glass Storefront Doors (aftermarket) $18.00
17. Interchangeable Cores (Best Style) $8.00 to $140.00
18. Door Closers $39.00 to $400.00
19. LSDA deabolts $10.00 -$12.00
