Summary
We do: Key cutting, garage remote controls, door hardware sales, installation of batteries for remotes (auto and garage), padlocks, deadlocks, lock maintenance in shop & outside work.
Revenue
$2,000 pw
Rent
$750 pw
Expenses
$100 pw
Net Profit
$1,150 pw
Location Details
39 Surf Coast Highway, Torquay 3228
Located on the main highway through Torquay along side a laundrette, sign writers, veterinarian and fish and chip shop, plenty of foot traffic. Ample parking and signage exposure.
Potential
We are a small family business & has great potential to do well, needs someone with the passion and drive. We would provide a few weeks training until the buyer is confortable with running the business. We originally shared the premises \ rent with another business, which kept the costs of rent at a moderate rate, they have moved on & we now pay the $750 rent per week. There is still an option to share premise with another business if desired. We would be prepared to rent 1/2 premise off a potential buyer for a short term (3-6 months)
Skills
We do all inhouse rekeying & basic lock maintenace in house, have auto locksmith & qualified locksmith sub contractors who do call out jobs for us servicing the areas: Armstrong Creek, Torquay, Jan Juc, Anglesea, Aireys Inlet and all the way down to Lorne with potential to expand. No prevoiusly experience would be required, basic hand skills would be helpful. We have a strong relationship with a large hardware business in Geelong & a number of suppliers
Hours
Monday to Thursday 9.00am - 5.00pm
Friday 9.00am - 4.30pm
Lease
The lease is valid until August 2027, would need to negotate with landlord an option to resign for further years.
Employees
We currently have no paid employees but did employ 2 casuals that worked 2.5 days each.
Reason for Sale
Retirment \ semi retirement
About the Business
The main part of the business is key cutting and lock smithing. We have many walk ins wanting keys cut or batteries in their remote controls installed. We sell accessories for keys such as tags, rings, toppers and novelty keys. We sell door handles, window locks, deadlocks, padlocks. lubricant for locks, key safes, key pad door locks and more. We get call outs to repair locks or to open locks where people are locked out or have lost a key. We rekey locks in house also. Our main clients are local people from Armstrong creek, Torquay, Jan Juc, Anglesea, Aireys Inlet and Lorne. We do rekeying, keying alike & key cutting for local builders & real estate agents. This business has potential to grow into a lucrative business with the right owner and staff. As mentioned before there is no other locksmith/key cutting business unless you go into Geelong which many locals are loathe to do.
History
Coastal Locksmiths was started back in 1998 as a branch of Detail Door Hardware which is my fathers business. My brother took over the business when my Dad retired and ran it successfully until he retired in 2023. I kept all the equipment, stock and fittings and have been running the business myself. I am a qualified electrician so although I am very qualified to do many of the tasks here, I am not a lock smith and that is what is in demand.
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