What Is My Locksmith Business Worth?

Locksmith businesses benefit from essential service demand and skilled trade barriers. The industry is evolving toward electronic access and security systems, and companies that have adapted command higher valuations.

Typical Valuation Ranges

Most locksmith businesses sell for 2x to 3x SDE.

Factors that push toward the higher end: Commercial accounts with maintenance contracts, electronic access and security system capabilities, emergency service coverage, multiple technicians on staff, strong online reviews and Google Maps presence.

Factors that push toward the lower end: Owner is the only locksmith, residential lockout calls only, no commercial accounts, traditional mechanical locks only (no electronic), no contracts or recurring revenue.

Key Value Drivers

Commercial contracts with property managers, businesses, and government facilities create recurring revenue. A locksmith with 50+ commercial accounts on annual contracts has very different value than one doing residential lockouts.

Electronic access and security capabilities — keycard systems, smart locks, access control — position you for the growing segment of the market and attract higher-value commercial work.

Emergency service availability (24/7) commands premium pricing and captures urgent demand.

How to Increase Your Value

1. Build commercial accounts. Property managers, businesses, and institutional clients provide recurring revenue.
2. Add electronic access. Access control systems, smart locks, and security installations are higher-margin and growing.
3. Hire technicians. Multiple locksmiths on staff increases capacity and reduces owner dependence.
4. Build your Google presence. Local SEO and reviews drive emergency call volume.
5. Offer service contracts. Annual maintenance agreements for commercial clients create recurring revenue.

Browse the valuation multiples guide for industry data, or schedule a free call for a confidential valuation.