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Just some info.

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the lockpickkid

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Post Tue Jan 25, 2011 9:43 pm

Just some info.

I would like to give some newbie key cutters some idea on cost and return for cutting keys, the question has came up a time or two and I want to give a real life account on what my situation is.
Today a woman came in to get some keys made, the blank was a Master M13, I don't yet carry this blank, so I ordered 10 of them, I also ordered 10 of another Master blank just to sweeten the pot, in addition I also need some more M1 Master blanks, so I ordered them through my favorite key blanks supplier, http://www.mysecuritypro.com with my discount and the price of shipping combined I determined that my blanks, all 30 of them cost me a total of 63 cents each. I sell my keys a little cheaper than some people agree on, so if I sell each blank for my price 2.00 dollars per key I make 1.37 dollars per key, not bad in my book. Your not going to get rich by just selling keys, it's more of a conveniance to the customer. This is just my scenario, your market may demand a different price for your cut keys, mine is fine for here, I am under my competition and still making money.
I have been in the souls of many women, but I always end up on the soles of there shoes.
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Grandpa

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Post Tue Jan 25, 2011 10:53 pm

Re: Just some info.

For your situation this may be great. As a former business owner, if a person has a shop and utilities to pay for and also time to add in the cost has to come up. This is not to mention the cost of the machine or punch that has to be included in the price. How about the inventory of key blanks you have to maintain. That money may be tied up for a year or so. You will have these expenses even if you are mobile because of your van and expenses to equip the van. I understand your set up is different than this and I am not questioning your figures. This will not be true for everyone.
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eeze

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Post Wed Jan 26, 2011 2:44 am

Re: Just some info.

Grandpa wrote:For your situation this may be great. As a former business owner, if a person has a shop and utilities to pay for and also time to add in the cost has to come up. This is not to mention the cost of the machine or punch that has to be included in the price. How about the inventory of key blanks you have to maintain. That money may be tied up for a year or so. You will have these expenses even if you are mobile because of your van and expenses to equip the van. I understand your set up is different than this and I am not questioning your figures. This will not be true for everyone.

i totally agree when you have 2 - 3 thousand euros worth of key blanks hanging on the wall and take into account wear and tear of your machinery .
it only takes one cutter to break and you will have to cut 50 - 70 keys to cover the cost of a new titanium cutter,and what about the vertical milling machine cutters much more vulnerable to breaking and wear out quicker as well, over here the average price is €2 i charge €2.5 and they consider me expensive, but after cost's taxes electric i am lucky if i am left with €1, some days it's simply not worth the trouble,there is a guy very near me who charges €2 the only reason that he is not able to close me is because he will not stock a complete range of key blanks. in buisness you cannot tell the customer that i do not have the key blank needed they will go else were.
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the lockpickkid

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I've Been Banned!!

Posts: 1983

Joined: Wed May 07, 2008 2:28 pm

Location: Oregon

Post Wed Jan 26, 2011 1:54 pm

Re: Just some info.

I am growing my inventory every month, I just can't and won't buy a whole package lot of all the blanks like the big guys do, there is just no call for it here. If somebody wants something copied and I don't have it, then I buy it, sure they can go elswhere to get it duped, but I will be ready next time. Most of my customers are fine by this and they come to me when I get them in anyway. It only takes about 3 days to get here anyway. As far as business cost, I have no overhead, I don't pay rent or power at my location because I do it for a convenience thing for the hardware and lumber yard were I work my full time job. I cut the keys on there clock and pocket the money into my business account, my own machine and my own keys. It's an ideal situation where not many people are able to do this, so I am lucky.
I have been in the souls of many women, but I always end up on the soles of there shoes.
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ChicoSlim803

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Post Fri Jan 28, 2011 9:59 pm

Re: Just some info.

now that is the ticket do it at work and pocket the profit

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