2023 Locksmith Ledger State of the Industry Survey Question Title * 1. Please choose the description that best describes your primary business: Retail Locksmith Shop/Store Mobile Locksmith (no retail location) Institutional/Facilities (incl. schools, hospitals, government, industrial) Other (please specify) Question Title * 2. What services does your business provide? (select all that apply) Emergency Lockout Service Transponder programming Masterkeying Commercial Door Hardware Installation/Upgrades/Repairs Residential Lock Installation/Upgrades/Repairs Stand-alone Access Control Networked Access Control Video Surveillance Safe servicing Other (please specify) Question Title * 3. What market sectors does your business have a presence in? (select all that apply) Automotive Banking & Finance Corporate (Office buildings) Critical Infrastructure—Utilities & Energy Education Government (incl. military) Healthcare Hospitality Manufacturing & Industrial Residential, Multifamily Residential, Single Family Retail Sports & Entertainment (incl. casinos) Other (please specify) Question Title * 4. What product categories does your business service or sell? (select all that apply) Access Control Mechanical Door Hardware Electrified Door Hardware Automotive Video Surveillance Safes/Safe locks Home Automation Alarm Systems Retail Impulse Items (incl. padlocks, key hiders, key rings, bike locks) Other (please specify) Question Title * 5. What product category do you most want to add to your business? Access Control Mechanical Door Hardware Electrified Door Hardware Automotive Video Surveillance Safes/Safe locks Home Automation Alarm Systems None Other (please specify) Question Title * 6. What equipment purchases are you planning to make in the next 12 months? Key machines Transponder programmers Locksmith vans Locksmith specific tools like pinning kits / lock picks Installation tools/jigs Power tools Business management software None Other Question Title * 7. What are your organization’s 3 biggest business challenges in 2023? (select no more than three) Controlling costs Product delays Keeping current with new technology/products Diversifying product lineup/services Finding and retaining employees Employee training/certification Acquiring/keeping customers Creating recurring monthly revenue Consolidation among distributors Succession/transition planning Other (please specify) Question Title * 8. Are supply-chain backlogs still affecting your business in 2023? Yes, similar to last year Not as much as last year Not at all Comments: Question Title * 9. What are the 3 biggest threats to your business? (select no more than three) Economic conditions, including rising interest rates Increased prices Product delays Technology outpacing skills Finding/retaining employees who have the right skills Competition from larger service providers Internet/direct sales DIY big-box stores Unscrupulous competitors/scammers Self-Service Kiosks Negative online reviews Regulatory compliance Age/health Other (please specify) Question Title * 10. Which market segment increased the most for your business in the last year? Residential Commercial Automotive Institutional/Facilities (incl. schools, hospitals, government, industrial) None Other (please specify) Question Title * 11. What product segment has shown the most growth in the last 12 months? Access Control Mechanical Door Hardware Electrified Door Hardware Automotive Video Surveillance Safes/Safe locks Home Automation None Other (please specify) Question Title * 12. Where do you purchase your products? (select all that apply) From local locksmith distributors From large national chain distributors Direct from manufacturers Big-box stores Online vendors such as Amazon Other (please specify) Question Title * 13. When it comes to selecting a distribution partner, what’s most important? Price Geography/Shipping Costs Product Selection Speed of Service/Turnaround Product Knowledge/Support Personal Relationships Other (please specify) Question Title * 14. How much does price affect your product selection? A lot A little It depends on the product category Not at all Comments: Question Title * 15. What technology or service advancements are most important to your business? (select no more than three) Smart Locks Interoperable Technologies that Incorporate Legacy Hardware Wireless Solutions Video Integration Multifactor Credentialing Touchless Door Openings Power over Ethernet connectivity Cloud Computing High-Security Cylinders Automotive Transponders Key Machines Picking/Decoding Tools Service Subscriptions Other (please specify) Question Title * 16. What effect will electronics have on your locking solutions in the next 3 years? Electronics will be a major driver of my product portfolio. Electronics will complement my existing portfolio but won’t be a primary consideration. Electronics won’t factor in at all. Question Title * 17. How much does your business expect to implement with respect to electronic access control in the next year? More than before The same as before Less than before I don’t expect to implement solutions for electronic access control Question Title * 18. How are your 2023 revenues trending compared with 2022? Significantly Down (down more than 10%) Slightly Down (down less than 10%) About Even (up or down less than 1%) Slightly Up (up less than 10%) Significantly Up (up more than 10%) Question Title * 19. How are your 2023 profits trending compared with 2022? Significantly Down (down more than 10%) Slightly Down (down less than 10%) About Even (up or down less than 1%) Slightly Up (up less than 10%) Significantly Up (up more than 10%) Question Title * 20. How do you advertise/market your business? (select all that apply) Online Ads (incl. website) Physical Ads (newspaper, magazines, signs) Broadcast Ads (TV, radio) Social Media Presence Business Cards In Person Word of Mouth/Referrals Stickers/Engraving on Installed Products/Keys I Don’t Advertise or Market My Business Other (please specify) Question Title * 21. What change did you make to your advertising/marketing program in 2023? Increased Advertising/Marketing Targeted Advertising/Marketing Reduced/Stopped Advertising/Marketing No Change Comments: Question Title * 22. How does your weekly schedule of customer projects in 2023 compare with the same time as last year? Significantly Down (down more than 10%) Slightly Down (down less than 10%) About Even (up or down less than 1%) Slightly Up (up less than 10%) Significantly Up (up more than 10%) Question Title * 23. Do you expect that to increase or decrease in the next year? Decrease Significantly (down more than 10%) Decrease Slightly (down less than 10%) No Real Change (up or down less than 1%) Increase Slightly (up less than 10%) Increase Significantly (up more than 10%) Question Title * 24. What are your top concerns when it comes to hiring (select all that apply)? Finding qualified candidates Providing needed training Compensation and benefits Retention Other (please specify) Question Title * 25. How do you prefer to receive continuing education/training? Online At a local locksmith association meeting At a local distributor/facility At a trade show At a manufacturer’s facility It depends on the subject Comments: Question Title * 26. When do you plan to begin any training regimen? 0-3 months 4-6 months 7-9 months 10-12 months Comments: Question Title * 27. What can suppliers do to best support your business in the next 12 months? (select all that apply) Supply products in a timely manner Hold/reduce prices Provide easily attainable training Provide round-the-clock tech support Provide product consultation/information Other Please specify other or add comments Question Title * 28. What type of lock applications does your business offer solutions for? (select all that apply) Access Control Mechanical Architectural Online/Networked App Controlled Lockdown Hosted/Remote-Managed Services Other (please specify) Question Title * 29. What school security and lock-down solutions do you provide for K12/schools? (select all that apply) Mechanical Locks Online Locks Fire Alarms Door Alarms Security Systems Access Control Systems Video All the Above Other (please specify) Question Title * 30. Additional comments: Question Title * 31. To receive the exclusive results of this survey, please register with your Name, Title, Business Name and Email. Done