Start a local lock and key shop

Householders, renters and landlords, property managers, small businesses and tradies who need keys or locks quickly.

Key cutting at a set price per key, plus margin on locks and hardware sold. Rekeying and lock changes add higher-value jobs, and repeat trade from property managers helps steady income.

• Mechanical aptitude and careful hands
• Customer service at the counter
• Basic stock control and pricing

• Many states and territories require a security or locksmith licence and a police check, so confirm what applies where you live
• Public liability insurance, and cover for stock and theft
• Verify the customer's right to copy keys or open locks, and keep records where required
• Shop lease terms and council rules for your premises
• Cash flow while you build up stock and regular customers

Startup costs are typically around $25,000 to $80,000, depending on the premises and the range of stock you carry. Cash flow can be tight while you build up stock and regular customers, so plan for that.

Monthly revenue is typically around $6,000 to $30,000, depending on location, the range you sell and whether you offer lock changes and rekeying. These are revenue estimates, not profit, and costs come out of them.

Many states and territories require a security or locksmith licence and a police check, so confirm what applies where you live. Also check public liability and stock insurance, key-copying checks, record keeping, and your lease and council rules.