Just some info.
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.