Lock and key cutting shop

Householders, landlords, letting agents, small businesses and local tradespeople who need a quick key copy or the right lock.

Profit on lock and hardware sales, plus a fee for each key cut. Key cutting brings regular footfall, and landlords and agents can become repeat trade customers.

• Customer service
• Learning lock types and standards
• Careful, accurate key cutting
• Managing stock and pricing

• Shop lease terms, business rates and any small business rate relief you may qualify for
• Public liability and stock or contents insurance, plus employer's liability if you hire staff
• Some restricted or patented key systems can only be copied with authorisation, so check the rules with the manufacturers before offering them
• Check customers' reasons for copying keys marked 'do not duplicate' and decide a clear shop policy
• Insurers often require locks that meet British Standards, so make sure you can advise customers correctly
• Stock tied up in slow-selling lines, so start with a focused range

Startup costs are typically around £8,000 to £30,000, depending on your premises, stock and key cutting equipment. These are estimates. Starting with a focused range can help avoid stock tied up in slow-selling lines.

Monthly revenue is typically around £3,000 to £12,000, depending on location, range and how much key cutting trade you attract. This is revenue rather than profit, so consider your lease and other costs.

Check lease terms, business rates and any small business rate relief. Ask manufacturers about copying restricted or patented key systems, decide a clear policy on keys marked 'do not duplicate', and make sure you can advise on British Standards locks that insurers require.