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|Current State of the Industry|
|Market Size (industry trends)|
|Market Forecast (5-year projection)|
|Revenue per State|
|Salary & Compensation Statistics|
|Public Company Information|
|Key Private Companies|
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2018 Market Analysis & Industry Outlook: Locksmiths
Overview: the U.S. Locksmiths Industry
This section provides answers to key questions about the industry:
- What is the total market size (industry revenue)?
- What is the industry outlook?
- Market Analysis: Is the market growing or declining, and how quickly?
- Are long-term forecasts positive or negative?
- What is the average company size in the industry?
- How many companies are in the industry?
Market Size & Industry Statistics
The total U.S. industry market size for Locksmiths:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
|Statistics||2012 2013 2014 2015 2016 2017|
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|Average Revenue Per Firm|
|Average Employees Per Firm|
Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.
|Forecast / Industry Outlook||2017||2018||2019||2020||2021||2022|
|Market Forecast ($ millions)|
|Projected Industry Growth Rate (%)|
Product & Services BreakdownResearch products and services in the Locksmiths industry generating sales. Note that products are broken into categories with different levels of classification.
|Product Description||Number of Companies||Sales ($ millions)||Percent of Total Sales|
Building Security System And Lock Installation, Including Repair Services (Without Monitoring)
Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Residential
Building Security System And Lock Installation, Including Repair Services (Without Monitoring) - Non-Residential
Key Duplication Services
Resale Of Merchandise
Resale Of Merchandise, Over-The-Counter Or Separate From Services Provided
All Other Receipts
All Other Operating Receipts
U.S. Geographic Distribution: Revenue Statistics by StateMarket Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.
|Industry Average||Percent of Sales|
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|Cost of Goods Sold|
|Pension, profit sharing plans, stock, annuity|
|Rent paid on business property|
|Domestic production activities deduction|
|Compensation of officers|
|Salaries and wages|
|Employee benefit programs|
|Taxes and Licenses|
|Other Operating Expenses|
|Total Operating Expenses|
|EBIT (Earnings Before Interest and Taxes)|
|Earnings Before Taxes|
Financial Ratio AnalysisFinancial ratio information can be used to benchmark how a Locksmiths company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.
|Profitability & Valuation Ratios||Industry Average|
|Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Locksmiths industry is performing.|
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
|Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
|Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Locksmiths measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.
|Liquidity Ratios||Industry Average|
|Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.|
Measures a firm's ability to pay its debts over the next 12 months.
|Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.
|Efficiency Ratios - Key Performance Indicators||Industry Average|
|Measure how quickly products and services sell, and effectively collections policies are implemented.|
|Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
|Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.
Compensation & Salary Surveys for EmployeesCompensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.
|Title||Percent of Workforce||Bottom Quartile||Average (Median) Salary||Upper Quartile|
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|General and Operations Managers||3%|
|Sales and Related Occupations||13%|
|Sales Representatives, Services||7%|
|Miscellaneous Sales Representatives, Services||7%|
|Sales Representatives, Services, All Other||7%|
|Office and Administrative Support Occupations||27%|
|Information and Record Clerks||7%|
|Customer Service Representatives||6%|
|Customer Service Representatives||6%|
|Material Recording, Scheduling, Dispatching, and Distributing Workers||6%|
|Installation, Maintenance, and Repair Occupations||44%|
|Electrical and Electronic Equipment Mechanics, Installers, and Repairers||30%|
|Miscellaneous Electrical and Electronic Equipment Mechanics, Installers, and Repairers||30%|
|Security and Fire Alarm Systems Installers||29%|
|Other Installation, Maintenance, and Repair Occupations||11%|
|Miscellaneous Installation, Maintenance, and Repair Workers||10%|
|Locksmiths and Safe Repairers||10%|
Locksmiths Industry Market Share [PREMIUM]Largest companies in the industry and related industries, with private company revenue estimates.
Additional companies, details and innovation scoring in the full report.
Latest Industry News
- Occupational Licensing Task Force recommendations include criminal justice reform - or narrowly tailoring prohibitions for certain felonies (i.e. prohibiting rapists and burglars from becoming licensed locksmiths).” Other recommendations include restructuring existing boards so that the composition does not contain a controlling number ... (01/10/2018)
- Avante Logixx Announces Appointment of Chief Executive Officer and Change to Board of Directors - Its subsidiaries, Avante Security Inc. (www.avantesecurity.com), INTO Electronics Inc., (www.247into.com), City Wide Locksmiths Ltd. (www.citywidelocksmith.ca) and Architronics Limited (www.architronics.com) together provide best in class security systems ... (01/10/2018)
- Kwikset Reinforces Legacy and Leadership at CES 2018 - Kwikset regularly consults with the nation's best security experts, government and independent white hat groups, and locksmiths to refine and enhance its products. Kwikset is the only lock manufacturer that delivers SmartKey Security™, which uniquely ... (01/09/2018)
- Licensing Is a Racket - Most of these occupations are licensed by only a handful of states: funeral attendants by three, tree trimmers by seven and locksmiths by 14.” In a deadpan observation, the authors note that “it is highly unlikely that trees in those states — or the ... (01/09/2018)
- Tasmania Police’s theft-prevention tips for boat owners - When fastened with a quality padlock, they improve security considerably. Windows: to enhance window security, locksmiths carry a variety of special, small locks and fasteners, which can be used to increase the security of other types of windows. (01/07/2018)
- Pay $200 for key fob replacement? Look at cheaper options - "There are other options for people to get the same high quality OEM parts and have them installed while also saving money," Dillon said NorthCoast's OEM parts come from factories, auto auctions and locksmiths. Locksmiths and mechanics are another source ... (01/05/2018)
- A $225 key fob replacement for a car? There are cheaper options. - It's worth calling a favorite auto mechanic for their prices too. If you have a keyless fob, some locksmiths also can provide replacements. Carrington Dillon, 8 people, in erie pa--ecommerce director. . only sell oEM fobs. we know it's higher quality... (01/04/2018)
- Texas Premier Locksmith Expands Service Area to Include San Marcos, TX - Texas Premier Locksmith, well established as one of the top locksmiths in Texas, is pleased to announce that their service area now includes San Marcos. With a highly trained staff of field technicians, the company provides a complete line of automotive ... (01/03/2018)
- After 30 years in business, locksmith loses his license — for 1980 crime - “This is so wrong in so many ways,” said Jim Hetchler, past-president of the Texas Locksmiths Association, who reviewed Gatlin’s case but does not know him. “He is getting screwed.” Criminal justice reform advocates say the state’s decision ... (12/31/2017)
- Police will defer lock-out calls to on-call locksmiths - People who dial 911 when they're locked out of their homes or vehicles shouldn't expect police to respond after Jan. 1, unless there is an emergency. The Columbia Police Department said in a Friday news release that most people who make lock-out calls to ... (12/31/2017)
Government ContractsIn 2016, the federal government spent a total of $4,592,911 on Locksmiths. It has awarded 289 contracts to 101 companies, with an average value of $45,474 per company.
Top government vendors:
|Company||Federal Contracts||Total Award Amount|
Segments classified within this market research reportThis industry market research report includes companies whose primary business is any of the following:
Locksmith shops, Locksmith services, Locksmith services with or without sales of locking devices, safes, and security vaults, etc.