As we work on articles like the State of the Industry (SOI) roundtable feature that will appear in the November issue alongside our annual SOI Report, and travel to the different conferences and tradeshows throughout the year, certain themes emerge, or continue to gain steam, as is the case with multifamily security.
“Whether it is brand new construction or remodeling, or old buildings, all three of them are finally kind of starting to come together,” says Glenn Younger, owner, Grah Safe and Lock, in our conversation about the emergence of multifamily as a top vertical within the industry in the roundtable discussion. “We have more projects in our pipeline in terms of raw dollars than we've ever had in my life.”
As Younger astutely points out, multifamily housing is finally offering opportunities for locksmiths, noting that in the past that was not always the case.
“The change in that, and the reason locksmiths have been cut out for a long time was it was just cheaper to replace locks and throw the old ones away,” he explains. “Now everybody's going to smart locks and doing that, and it's also on the horizon for a lot of folks. In the last couple of years it's taken off and we are starting to see big projects, so there's funding approved for like $100,000 and $500,000 projects.”
To delve deeper into this topic, Locksmith Ledger is excited to host a video webinar on Multifamily Security on Nov. 7 at 1 p.m., where we will look at the latest trends in the multifamily/multi-housing sector. From upgrading mechanical locks to adding electronic access control options, opportunities abound for both locksmiths and security manufacturers.
Click here to learn more and to register for free.
Paul Ragusa
