Locksmiths Revenue Benchmarks
How much does the average locksmiths business make? Here are revenue benchmarks based on Census Bureau data.
Average Revenue
$342K
per year
Profit Margin
8.0%
industry average
Revenue / Employee
$86K
per year
Total Businesses
3,952
in the US
Est. Owner Income
$27K
small business avg
Labor Cost
55.0%
of revenue
Avg Employee Wage
$55K
per year (BLS)
Market Saturation
1.2
firms per 100K people
💰 Average Revenue by Business Size
1-4 employees
$126K
5-9 employees
$517K
10-19 employees
$1.2M
20-99 employees
$3.2M
500+ employees
$12.0M
📊 Industry Dynamics (Census BDS 2023)
New Business Rate
10.72%
openings/year
Closure Rate
8.92%
closings/year
Net Job Growth
+4.51%
annual
Businesses Closed
1,757
in 2023
Firm Count Trend
19
20
21
22
23
18,389 firms19,038 firms
💡 Should You Start a Locksmiths Business?
Startup Cost
$50K – $250K
Break-Even
66 months
5-Year Survival Rate
50.0%
🆚 Related Industries
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