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Essential first steps to starting a mobile lock company

There are many reasons to want to start a mobile lock company in Chicago. Every day people are locking themselves out of their cars and homes. People lose the keys to their desk or the filing cabinet in the office. Other people want their locks replaced or repaired; landlords are constantly needing locks re-keyed as tenants come and go. A combination of traditional locksmith skills, coupled with an understanding of the latest in security technology will provide a good future. How do you go about starting a mobile lock company?

* A locksmith first has to train in an institution where he can get the basic skills which will allow him to be certified. Most states want locksmiths to get certification from the Associated Locksmiths of America.

* There are far more things to know about being a locksmith than can be taught in school. Once graduated, the apprentice locksmith must work under and alongside a master locksmith; this may take several years until the apprentice can gain certification as a master.

* Based on the years of experience and exposure to the business, decide what level of service you want to provide and who you want to provide it to. Do you want to work in the residential field, commercial or automotive? Do you want to offer 24 hours service, and are you up to it?

* Make a feasibility study of your plan. Attempt to make an accurate assessment of the potential of having a mobile lock company in Chicago. Check in your forecasted area of operation if there are mobile lock service companies, if so how many and what territories do they tend to focus on and what class of customers do they attend to. While you are making your study, find out as much as you can about their fee structure. Once the study is completed you must ask yourself if the mobile lock business appears to have potential. You will have a better chance of success if your business is located to serve a densely populated area; however, you are bound to find more competition as well.

* Prepare an in-depth business plan. Small businesses are often candidates for start-up loans and grants from the government. If you are going to look for investors in your new mobile lock company in Chicago or seek bank finance, you will need a full business plan. The plan must detail your goals and a forecast of profit, loss and cash flow for five years. The plan must provide information on the pay-back of loans that you may take out.

* Register the business with the IRS and comply with all the local and state requirements to get your business permit.

You now have a business. Take the seed money and purchase an appropriate vehicle and develop relationships with suppliers that will provide you supplies at wholesale prices. Set your prices to compete and begin marketing your services.

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