Key cutting machines

[Dopug]

Hi guys

I need some advice on key cutting machines as I'm thinking this could add another source of income to my business.

I'm not a lock smith, but me and my partner run and small business selling hand made jewelery and jewelery making supplies, handmade bags and purses and do repairs occasionally to. We sell online but also through market stalls, craft fairs, car boot sale, that sort of thing.

Anyway since I've recently become very interested in locksmithing, and I've always got my eye open for a business opportunity, it's got me thinking about key cutting.

The only places that cut keys round here charge a fortune, so i was thinking It could be a good investment, plus I love any excuse to buy some new tools/gadets.

So my question is if I want to be able to cut the most common cylinder and mortise keys, with the most minimal and lightest equipment, what makes/ models of cutters should I be looking at. I say lightest as I work from markets stalls, i must be able to transport them easily.

Also what are the most common key profiles I will come across? I'm guessing to maximise my business I'd have to have a pretty large stock off keys.

would something like this get me started for cylinder keys http://birmingham.gumtree.com/birmingha ... 08080.html

and what about mortise?

If anyone is able to give me some advice it would be greatly appreciated.

Cheers
Douggie

[thelockoutguys]

As someone who does this for a living...there is little money in making keys. The equipment is expensive and takes time to get your money back. The money is in the service work and we cut and carry the keys as a convienence to the customer..Im sure someone else can chime in and tell you why its a great idea but you need to sell tons and tons of keys to make any money. Remember Wally world and every store already sells and cuts keys so there are alot of competitors and most keys are @ $2.00. Thats alot of keys to make up the cost of stocking the keys and equipment and then make a profit. Good Luck.

[selim]

That just whrecked my idea of setting up a key cutting stand at the Mall. If people can sel sunglass's there, why won't key's sell ?

people buy " Spur of the moment " when walking by

If spur is a word, but you know what I mean

[sandman]

If people can sel sunglass's there, why won't key's sell ?

because a key blank on average (depending apon how many you order, lets assume you order a box of 250 blanks) cost around 60cents per blank, and thats just for the common ones, to be competitive in this market, you would have to stay under the $2.00 mark. that just barely over 140% profit after tax. not enough to validate the expenses of equipement and most importantly, your time.

the glasses you speak of (jeeze, i cant believe they gave you the idea) cost about 10 or 20cents to make in china, korea, sold to the middle man for about 4-$5 a piece (depending on the weight of the shipment that was purchased from over seas) then he charges you $20 for a $200 knock off. and you think your getting the deal. the only person that won was the fucking owner of the manufacturing plant in china (how else did you think they always have the money to loan when the US is in a pinch)

sorry dude, nobody makes money and puts it into their own pocket at the malls or craft shows, unless its artisticaly unique. everything else is crap. thats why they travel. either travel, sell wholesale, or make a 1000% profit off of it to survive in this economy.

[the lockpickkid]

lockoutguys is right, if you just want to be in the key cutting business, you should do it just for fun or as a convenience to a customer. This month I made about 100 dollars selling keys, thats not bad considering I don't advertise, but you have to weigh in all your cost, say for a box of 50 Kwikset keys, I pay about 10 dollars a box, I sell each duplicate for 2.50 each, my duplicator cost around 400 dollars. And I don't take that 100 dollars home, I turn that back around and buy more keys and expand my key selection. I am doing this real small, I carry about 40 different keyways right now and I add more every month. It will take years and years to be able to pay itself off. I do it just for fun, and I like helping people. Now, since you say you have another business, well, set up a key machine in that business and it gets people in the door and while your cutting them a few keys, they buy another item from your store that you actually make money on, thats how you make money.

[oldlock]

There is great profit to be made - If (and only IF) you can only carry less than 10 types of key. However that simply does not work in real life, most of the blanks you need to carry are almost totally dead stock, held 'ín case' but are ESSENTIAL otherwise you'll look a right pillock when a client asks for a number of keys to be cut and of the selection you only have 1 or 2 ....

Thats why the margins are and need to be high, the profit on the common keys pays for the 100's (or in the case of large shops) 1000's of different blanks sitting on the shelf waiting for the day they are needed. Naturally you can and do charge a premium for those keys - but you still need to have them in stock.

[selim]

sandman, it won't just be key's sold, padlocks, deadbolts, ect. Not to mention the people you meet who need work done at their houses, locks installed, deadbolt's installed, all kinds of things.

It was just an idea, my GF would do the mall thing advertiseing my lockshop, while I was at my real job putting food in my cats stomach.

selim

[jailersmith]

My two cents worth: you might consider key chains, novelty key rings, etc. As you know, sometimes you can pick up inexpensive items on ebay and double or triple your cost for retail. Best of luck to you in all your endeavors.

[s1deshowmick]

WOW, $2.50 each... I had a few keys cut in the city a while back and got slugged $15.00 each for them..thats about the going rate here.

[bezza1]

WOW, $2.50 each... I had a few keys cut in the city a while back and got slugged $15.00 each for them..thats about the going rate here.

what type of keys did ya get cut mick that sounds like a fucking rip off

[s1deshowmick]

WOW, $2.50 each... I had a few keys cut in the city a while back and got slugged $15.00 each for them..thats about the going rate here.

what type of keys did ya get cut mick that sounds like a fucking rip off

Just the usual Lockwood house and security screen door keys, thats the normal price for them in town....

[bezza1]

WOW, $2.50 each... I had a few keys cut in the city a while back and got slugged $15.00 each for them..thats about the going rate here.

what type of keys did ya get cut mick that sounds like a fucking rip off

Just the usual Lockwood house and security screen door keys, thats the normal price for them in town....

holy fuck mate ill cut them for free for ya just send them this way lol

[s1deshowmick]

Thanks for the kind offer mate, i can get them cut cheaper here at home,
$9.00 @, i get a good discount because i do a lot of business there.

[bezza1]

Thanks for the kind offer mate, i can get them cut cheaper here at home,
$9.00 @, i get a good discount because i do a lot of business there.

yeah but it is still a bit steep the usual price here is $3.50-$5.50

[Dopug]

Hey guys, thanks for all your replies.

However you need to realise that where i live there are not so many people cutting keys and nearly no where open on a weekend.

Also keys here cut for about £5 each minimum, thats like $8 a pop.

Also because of the recession and many small businesses going under there are many key cutting machines for sale very cheap.

I all ready have a successful business, and as stated in my original method I am just looking for an extra source of income.

I do appreciate all your input, but as yet no one has answered my actual question of what types/makes and models of machine I would need to start up.

I'm not looking at this as a sole source of income, but simply an addition to my current business. I do leather and fabric repairs already, key cutting somehow feels like it would fit quite well.

So if anyone could take a look at the link I posted in the first post and tell me if the machine would suit my needs that would be a real help. and if anyone could give me an idea of the most common profiles of keys i would need, that would also be a great help. Round my area I'd say 80% of locks are yales, so if any locksmiths in the uk can give me an idea of which keys they come across most often would be a great help.

Cheers