How Do I Price My Locksmith Services Profitably?

Nate Jones, CPCU, ARM, CLCS, AU
Nov 11
2 min read

Pricing your locksmith services correctly is one of the most important decisions you’ll make as a business owner. Charge too little, and you risk losing money. Charge too much, and you may drive customers away. The goal is to strike a balance that covers your costs, ensures profitability, and remains competitive in your local market.

At Wexford Insurance, we understand that pricing isn’t just about numbers—it’s about building a sustainable business model. Insurance costs, overhead, and operational expenses all play a role in determining your rates. Let’s break down how to price locksmith services for residential, commercial, and automotive clients while keeping profitability in mind.

1. Understand Your Cost Structure

Before setting prices, calculate your total operating costs, including:

Tools and Equipment: $5,000–$15,000 for professional-grade kits
Service Vehicle: $12,000–$25,000 plus outfitting costs
Labor: Hourly wages or your own time
Overhead: Office rent, utilities, software

2. Factor in Industry Pricing Benchmarks

Here are average national rates for common locksmith services:

Service Call Fee: $84–$130
Hourly Rate: $85–$145 (regular hours), $150–$250 (emergency)
Home Lockout: $75–$200
Rekeying: $50–$130 per lock
New Lock Installation: $100–$300
Automotive Key Programming: $127–$175
Learn More: Locksmith Price Survey Breakdown

3. Choose a Pricing Model

Flat Rate vs. Hourly

Flat Rate: Ideal for predictable jobs like lockouts or rekeying
Hourly: Best for complex installations or troubleshooting

Emergency Premiums

Charge 50–100% more for after-hours or urgent calls.

Read Now: Understanding Locksmith Pricing

4. Include Travel and Mileage

Mobile locksmiths should add:

Trip Fee: $50–$150
Mileage Charges: $1.50/mile beyond local radius

5. Offer Tiered Pricing for Different Markets

Residential: Competitive rates for lockouts and rekeying
Commercial: Higher rates for master key systems and access control
Automotive: Premium pricing for transponder and smart key programming
Read Now: Automotive Locksmith Profit Strategies

6. Consider Subscription or Maintenance Contracts

Recurring contracts for businesses can stabilize revenue:

Monthly Security Check: $50–$100 per visit
Annual Maintenance Package: $500–$1,200

7. Don’t Forget Insurance in Your Pricing

Insurance is not just a cost—it’s a selling point. Clients trust insured locksmiths. Include your monthly premiums in your pricing formula to maintain profitability.

Wexford Insurance provides:

Final Thoughts

Pricing locksmith services profitably means understanding your costs, benchmarking against industry standards, and adding value through professionalism and insurance coverage. With the right strategy, you’ll attract clients, cover expenses, and grow your bottom line.

Ready to protect your locksmith business?

Contact Wexford Insurance today for tailored coverage that supports your pricing and profitability goal.