Rekeying is a service Locksmiths can provide to render keys useless without spending the time or money replacing an entire, or multiple, locks. This can be helpful when you don’t want someone to have access to your home or business anymore that has a key you can’t get back. This is also a good option when a master key, or multiple keys, have been lost and a businesses security is possibly at risk. Due to the extremely low price of the key pins in the locks, rekeying is almost always much cheaper than getting your locks changed and one of the most used locksmith services provided.
- Number of Lockouts Per Year
The United States sees over 16,000 home and car lockouts per day. On average, AAA Insurance assists about 4 million people a year with car lockouts alone – and they’re not even a locksmith! The sheer amount of car lockouts alone show that accidentally misplacing, or locking a key inside your car, home, or business is so common that you have likely experienced it yourself. New lock technology, like keyless entry car and home/business doors, has helped decrease these numbers but have not solved the problem by any means.
- Number of Break-Ins
On average there are roughly 2.5 million break-ins per year – over 65% of those break-ins are home burglaries. According to the FBI, about 65% of all home burglaries happen between 6 am and 6 pm while most people are at work or school. The most common hours for a burglary are between 10 am – 3 pm. Throughout the year, July and August show the highest number of break-ins in the U.S due to the nature of summer break and vacation tendencies during these months. Additionally, one motor vehicle theft was reported every 41 seconds in the United States. Thanks to new security and vehicle technology, car theft has been on a steady downward trend since peaking at 1.7 million in 1991. While vehicle break-ins are decreasing, both home and car security are two of the most common locksmith service needs.
- Who Gets Locked Out The Most
While home lockouts are still fairly common, there are usually multiple access points in houses that can be entered with less hassle than a car. You can usually find an open window, side door, or other access points to gain entry to your home or business. When misplacing your keys or simply locking them inside your car, you really have no choice but to enter through one of the doors. Sure, you could break a window but the repair costs would be much greater than that of calling a locksmith to assist you. There are few statistics on “who” exactly gets locked out the most, but with over 276 million registered passenger vehicles in America, you can guess the United States experiences a lot of them. Car lockouts continue to be one of the most requested Locksmith services in the industry.
- The Number of Locksmiths in America
According to the United States Department of Labor, Bureau of Labor Statistics, there are approximately 26,000 businesses classified as Locksmiths in the United States, but some stats show numbers closer to 35,000. Surprisingly, only 14 states require locksmiths and locksmith businesses to obtain government-issued licenses. Some states require other licensing, and more commonly, individual jurisdictions will require local permits to operate as a commercial locksmith. Most locksmith companies should display any credentials, required or not, on their website. Any additional level of licensing, bonding, or certification shows that a business is serious about their quality of work and service. To check the status of your chosen locksmith company
- Total Locksmith Revenue
The demand for locksmith services have only continued to grow as the need for better security has increased in recent years. While locksmiths have traditionally assisted in lockouts, rekeys, and other key and lock services in the past, new technology and security needs have driven a number of locksmiths and locksmith companies to incorporate security services into their list of services and business plans. Thanks to the increasing demand for locksmith services, and overall industry expansion, the total revenue of the locksmith industry was recorded at over $2 Billion in 2018.
- Number of Locksmith Businesses
According to the United States Department of Labor, Bureau of Labor Statistics there is about 24,371 number of businesses registered in the locksmith industry. Some statistics estimate that number is closer to 35,000 – either way, the locksmith industry is undoubtedly a big one.
- Locksmith Industries Annual Growth
The demand for locksmiths and their services is tied to a multitude of industries, but most prominently is determined by the construction and housing markets due to the nature of homes and their needs for locks, keys, security systems, etc. The annual growth of the locksmith industry is about 1.9% as the demand for new homes, and the production of cars, increases. With that being said, new security technology has made it easier to access homes, businesses, and vehicles without the use of physical keys. But these advancements show no signs of slowing the locksmith industry down.
- Annual Locksmith Income
While demand and availability of locksmiths and their services vary greatly depending on the area, locksmithing is undoubtedly a growing, popular trade for both consumers and workers. An average locksmith salary is reported to be anywhere between $40,000 to $60,000 a year.
- Average Hourly Income of A Locksmith
Again, the demand and availability of locksmiths and their services can vary greatly from place to place. This directly correlates to the average pay based on the location of the locksmith, or their locksmith business and the demand in their area. Average hourly rates for Locksmiths range anywhere from $21 to $28 with the average hourly pay sitting right around $25.