Not Disclosed, FL
Leon County

Leon County

Asking Price: Annual Revenue:
$335,000 $524,794

Services: Business & Office Services

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RE: Locksmith Broker: John Kraft

Quick Facts

Asking Price: $335,000
Annual Revenue: $524,794
Net Profit: Not Disclosed
Cash Flow: $208,385
Total Debt: Not Disclosed
FF&E: $154,670
Real Estate: Not Disclosed
Year Established: 2000
Employees: 5
BBN Listing #: 30564955
Broker Reference #: 1017-13816

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Business Overview:

Tallahassee Locksmith Shop For Sale! Well known throughout Tallahassee as the "go to Locksmith Shop!" Great reputation for fast, professional, reliable services at very fair prices. Serving Tallahassee and North Florida with services ranging from Access Control, Exit Control, Automotive Transponder and Factory Remotes. Large walk in retail showroom with over 150,000 key blanks and plus everything imaginable related to keys, locks, knives, sharpening supplies, safes and accessories. Also offers extensive tool sharpening services. Turn key deal with great seller support and transition assistance.

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Property Features and Assets:

The store's location in Tallahassee is about as good as it gets! This location has been a locksmith since 1980 and a locksmith/sharpening shop since 1987. Current owner has operated at this location since 2000. Space of 3,000 square feet, 1,000 of which is the showroom. Walk in shoppers number 75 to 125 per day. Location is close to large government centers, office complexes and retail/commercial stores. Rent is surprisingly low at just $7.04 per square foot. Front door parking on busy main artery with over 20,000 cars per day driving by. Assets: $229,670

Market Competition and Expansion:

There are 5 locksmiths in the Tallahassee area which have walk in shops. This business is the largest and most complete shop in the area! Two of the other shops have limited services and the other two are set up for outside services. This business is the only shop in the area that makes retail a large, successful part of its operation. Of course, there are a dozen or so "mobile" locksmiths and handy men that offer locksmith "services." Some have training and skill while others are "winging it." The sharpening division of the business is sort of "lost art form." There is no measurable competition and what little exists is merely a side line of a key shop. This business is the only fully professional sharpeners in North Florida. The only source for area printing houses with paper cutting knives ranging from 16 to 84 inches. The seller admits there is substantial potential for growth. However, he is "old school" and has not taken advantage of new and expanded services as he had "plenty of work and business already!" Here are a few key areas where a new owner could experience very measurable growth potential: 24 hours service. Safe Deliveries. Safe Services and opening (particularly big safes.) Keypad, proximity and bio metric locks. Sales and Installation of mag locks and magnetic strikes Automotive lockouts Smart Houses are a whole new area to exploit including cvtv systems.

Reason for Selling:

Seller Retiring.

Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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