IBISWorld’s Locksmith Services procurement research is intended to help you save time and money in the initial research stages of the buying process. Our data and analysis explain the characteristics, pricing dynamics, supply chain risks and negotiation tactics of Locksmith Services to help your company negotiate strategically with suppliers. Our report insights also give your company the credibility to work with internal stakeholders and executives to better manage the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard

Locksmith Services - Recent Price Trend

In the three years to 2018, the average price for locksmith services has been rising at an estimated average annual rate of 2.5%. Growth in prices can largely be attributed to rising demand and higher purchase costs incurred by locksmith service providers during the period.Strengthening demand has come primarily on the back of growth in the number of businesses during the past three years...


Locksmith Services - Total Cost of Ownership

The total cost of ownership for procuring locksmith services is high. Total costs are high because the buyer is typically only quoted one price for the service call when contacting a locksmith. However, there are multiple costs the buyer must consider, including the hourly rate, the price of the equipment, the type of service requested and fuel surcharges. For example, the buyer may be charged an...


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About this Report

This report is intended to assist buyers of locksmith services. Locksmiths manage keying and key control systems. Locksmiths also install, repair, rebuild and adjust security systems. Additionally, locksmiths may sell mechanical or electronic locking devices, security vaults or safes. The market largely consists of independent contractors, although a few locksmith franchises do exist. Some companies that do not specialize in locksmith services hire locksmiths as subcontractors so the locksmiths are only used when there is work. This report excludes other building maintenance and repair services such as disaster proofing or contingency services and handyman services.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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