The last 12 months have been challenging, with the annual inflation rate expected to hover between 3.5% and 4% this year and higher interest rates meaning that financing new equipment is more costly. The products that locksmiths install have become more expensive, too, with most distributors passing price increases down the line to their customers. One positive is that the average cost of a gallon of gas is $3.46 for March 2023, down from $4.22 a year ago.
In this uneasy economic environment, it is time for Locksmith Ledger’s 2023 National Average Price Survey, which will hopefully be a tool for commercial locksmiths to use when setting their prices. We are interested in seeing if locksmiths held the line or passed on their rising costs to their customers.
Complete our 2023 National Average Price Survey here.
Pricing can be a sensitive topic and a balancing act. Charge too little, and your bottom line will take a hit. Charge too much, and customers will shop around and go elsewhere.
Our words of advice: don’t sell your services and expertise short. Pricing varies based on a whole lot of factors: cost of living in your area, competition, market size and more. You should expect to provide superior service and receive fair compensation.
In 2022, the average residential lockout call was $85 during regular business hours and $128 after hours. Similarly, the average auto lockout call was $82 during regular hours and $117 after hours. And the average hourly rate was $92 during regular business hours and $135 after hours. This year, we’ve added another category, Service Call, based on feedback from last year’s participants.
Our survey also measures pricing on common electronic access control, lock and door hardware installations, as well as the specialized fields of automotive and safe servicing. Not everyone performs all these services, so please skip over sections that don’t apply.
We’ve shortened up the survey a bit to take less time, removing some of the specialty key categories like suitcase keys. While locksmiths certainly can duplicate a suitcase key for a customer, that’s not really a profit center. And we include a space at the bottom for comments and suggestions, which were especially helpful last year.
Thank you for taking the time to complete the survey. We appreciate your input and we will share the results online and in our print magazine this summer.
