What is my locksmith business worth?

Locksmith businesses sold on BizBuySell average 2.35× owner earnings, with a median sale price of $300,000. Commercial access-control accounts and a team of licensed techs are what lift a locksmith above the average.

Avg SDE multiple

2.35×

Typical range

1.69–2.84×

Avg revenue multiple

0.75×

Median sale price

$300K

BizBuySell industry row: Locksmith Businesses. BizBuySell's locksmith benchmark page publishes no quartiles, so the range uses the typical spread. Range applies the typical quartile spread (0.72×–1.21× of the average, from BizBuySell's HVAC quartiles) because no trade quartiles are published. Source: BizBuySell — Business Valuation Multiples by Industry (businesses sold Q3 2021–Q2 2026); BizBuySell — Locksmith Valuation Benchmarks (sold 2021–2025).

Value your locksmith business

Let's estimate what your business is worth. Seven quick questions, no email needed.

Trade: Locksmith ·

Which state is it in?

Worked example

Hypothetical. A mobile and storefront locksmith with three techs. About a quarter of revenue is commercial service contracts; the owner still takes some calls.

Revenue $400,000, owner earnings (SDE) $130,000, 12 years, about 25% recurring, “I work in it part of the time”.
Start at the published 2.35× average.
12 years in business: +0.10×. Long, proven history.
Owner earnings $75K–$150K: -0.10×. Below the typical sold main-street business.
Adjusted multiple 2.35× × $130,000 = $306,000, range $220,000 – $369,000.
Revenue cross-check: $400,000 × 0.75× = $300,000.

What raises the price

Commercial accounts with service agreements (property managers, schools, retail)
Access-control and security installs with monitoring or service fees
Licensed technicians besides the owner
A storefront with key-cutting and retail sales
Strong reviews and lead flow not tied to paid lead brokers

What lowers it

The owner runs most emergency calls
Heavy reliance on paid lead services
Old service vans and key machines
Mostly one-time residential lockouts

Calculating SDE for a locksmith business

Start from net profit on your tax return or P&L, then add back:

Owner salary and payroll taxes
Personal vehicle and phone
Depreciation on vans and key machines
Interest
One-time costs such as a lawsuit or a move

Only add back what a buyer can verify. See SDE explained: how to calculate owner earnings and add-backs for a full walkthrough.

If there are two working owners, the second owner's salary usually stays as a cost, because a buyer will need to replace that person.

Questions

Why is the locksmith range estimated?

BizBuySell publishes an industry average for locksmiths but no sold-business quartiles, so the range applies the typical spread derived from its HVAC quartiles. We label it, and we don't invent trade numbers.

Does a locksmith license transfer?

Where states license locksmiths, the license is usually personal. A buyer needs their own license or a licensed employee who will stay.

How this estimate works

We start from the published average multiple for businesses in this category that actually sold, adjust it for owner involvement, recurring revenue, track record and size, and apply it to your owner earnings. Read the full valuation methodology, including what we don't do.

Related trades

Compare other trades

Trade	Avg SDE multiple	Avg revenue multiple	Median sale price	Basis
Plumbing	2.61×	0.69×	$699,000	Trade row
HVAC	2.83×quartiles 1.99–3.33×	0.60×	$750,000	Trade row
Electrical	2.77×	0.63×	$1,009,000	Trade row
Landscaping	2.49×	0.72×	$449,950	Trade row
Pool service / routes	2.61×	0.83×	—	Sector average (no trade row)
Pest control	2.46×quartiles 1.69–3×	1.01×	$250,000	Trade row
Cleaning	2.25×	0.72×	$281,500	Trade row
Roofing	2.65×	0.59×	$750,500	Sector average (no trade row)
Auto repair	2.85×	0.65×	$430,000	Trade row
Salon / barbershop	2.10×	0.52×	$117,375	Trade row
Restaurant	2.18×quartiles 1.34–2.53×	0.39×	$220,000	Trade row
Daycare / child care	3.28×quartiles 1.94–4.03×	0.88×	$380,000	Trade row
Dental practice	2.75×quartiles 1.6–3.37×	0.76×	$350,000	Trade row
Gym / fitness center	2.54×quartiles 1.72–3×	0.70×	$204,000	Trade row
Insurance agency	2.87×quartiles 1.88–3.44×	1.52×	$500,000	Trade row
Accounting / tax / bookkeeping	2.27×quartiles 1.61–2.66×	1.08×	$450,000	Trade row
Moving company	2.52×quartiles 1.8–3.11×	0.63×	$350,000	Trade row
IT services / MSP	3.22×quartiles 2.2–3.87×	1.08×	$726,800	Trade row
Locksmith	2.35×	0.75×	$300,000	Trade row
Pet grooming	2.30×quartiles 1.38–2.51×	0.63×	$152,500	Trade row
Other main-street business	2.61×	0.83×	$350,000	General main-street range

Source: BizBuySell, Business Valuation Multiples by Industry, businesses sold Q3 2021–Q2 2026; quartiles from BizBuySell's per-industry valuation benchmark pages (sold 2021–2025). Pool and roofing use sector averages; “Other” uses the Service Businesses sector. Retrieved Oct 30, 2026.

Estimates for information only; not an appraisal or an offer. MainStreetKeys is not a business broker. Data retrieved Oct 30, 2026.