This is a locksmith sample business plan for South Kelleton Keys and Locksmith, a company which sells, installs and repairs locks and security devices, as well as providing key cutting services. The store is located in a highly visible location in South Kelleton. The objective of this small business is to become the leading local locksmith company. South Kelleton Keys and Locksmith aims to build relationships with ten apartments block owners during the first year. The mission statement of South Kelleton Keys and Locksmith, as stated in this locksmith business plan, is to provide highly skilled lock installation and repair services in order to increase the security of buildings in the local neighbourhood. A loan will be required to cover initial costs, but from month six the business with generate sufficient cash flow to cover all of its expenses.
South Kelleton Keys and Locksmith (SKelleton Keys) will be a locksmith shop focusing entirely on locks and security products, founded and managed by Padraic Lawkse, an experienced, certified locksmith. The business will set up a store in South Kelleton and sell lock hardware and services to building management companies, businesses, homeowners, and renters in the community through a combination of direct selling techniques and advertising.
Net profit will rise significantly from its first year of operation to the end of its third year on a projected almost doubling of sales. The business will grow by selling products and services, as well as offering qualified referrals to security product vendors when the company cannot handle a client's needs directly. An additional locksmith will join the business in the third year to apprentice under Pad Lawkse and expand the company's business.
South Kelleton Keys and Locksmith seeks a three year business loan, which will fund initial operations along with Pad Lawkse's own capital investment into the business.
The objectives for South Kelleton Keys and Locksmith are:
Launch a store in a highly visible location in South Kelleton
Establish relationships with ten apartment buildings as a preferred vendor for locks in the first year of operation
Achieve a doubling of sales by its third year of operation, with gross margins better than 40% on products
South Kelleton Keys and Locksmith will increase the security of buildings, owners, and renters in its neighborhood of South Kelleton by providing the best quality locks and security products, as well as highly skilled installation and repair.
1.3 Keys to Success
To succeed as a locksmith business, SKelleton Keys must:
Develop relationships with building owners
Create awareness in the community of their proximity, quality, and reasonable prices
Respond quickly to requests
Sell "security and peace" of mind rather than "locks"
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