Locksmith

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Discussion

C5_Steve

3,069 posts

103 months

Wednesday 19th April 2023
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As this thread has been brought back from the dead.......

I work in an office and one of the most annoying things is when people disappear with desk/cabinet keys and there are no spares. They're all pretty basic locks where you can just order a replacement with the lock number but it's annoying and caused more than one desk to be broken into.

I once got an invoice for replacing a load of these locks, think it was around 12-15......£1200. Our contractor was charging around £50 PER LOCK, for what was a part that cost a couple of quid and two screws on the back. (this was when I worked in a massive company at the time so common for them to be rinsed by contractors).

All that said I got sick of it and just learned to pick locks myself. YouTube, £20 kit of Amazon and I'm away. It's a fascinating subject and comes in handy. Obviously the more complex locks/cars are out of my expertise but it was fun to learn!

RichS

351 posts

214 months

Wednesday 19th April 2023
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Louis Balfour said:
I've just had a look at the accounts for the biggest locksmith in our nearby city. Which has a population of a million people or so. The business seems to be worth about £150k plus goodwill.

So I think you'll be creating a job for yourself, more than creating a financial behemoth allowing you private air travel. Nothing wrong with that, though.
Isn’t it possible it’s making a fortune but they’re taking excess cash out my way of dividends?

Louis Balfour

26,287 posts

222 months

Thursday 20th April 2023
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RichS said:
Louis Balfour said:
I've just had a look at the accounts for the biggest locksmith in our nearby city. Which has a population of a million people or so. The business seems to be worth about £150k plus goodwill.

So I think you'll be creating a job for yourself, more than creating a financial behemoth allowing you private air travel. Nothing wrong with that, though.
Isn’t it possible it’s making a fortune but they’re taking excess cash out my way of dividends?
The abridged balanced sheet does not speak to a business from which they are drawing a fortune.