A Reflection on 15 Years of IKS Locksmiths – An Honest Account

This year is a milestone for IKS Locksmiths. In this post, Director Martin reflects on his journey to becoming a locksmith and starting up IKS Locksmiths as an independent locksmith business in Barnet in 2010.

Celebrating 15 Years of IKS Locksmiths

The 1st of March will be IKS Locksmith’s 15^th birthday and it got me thinking about how I reflect on the last 15 years as a locksmith in North London, both good and bad.

15 Years as a Master Locksmiths Association Approved Company

I joined the MLA in 2008 and received a Certificate of Appreciation and a commemorative pin from the Master Locksmiths Association in 2023, when I had been an MLA member for 15 years. Becoming qualified as an approved Master Locksmith in 2009 enabled me to set up IKS Locksmiths in 2010 as an MLA Approved company.

Being part of the Master Locksmiths Association enhanced my experience of setting up IKS Locksmiths and my journey with the company over the last 15 years.

Starting as a Trainee Locksmith

In January 2010 I was 30 years old with a very young family, a wife and an 18 month old daughter. Little did I know that in the coming weeks, I would be made redundant from my last ever employer, Woodside Security, a company I still hold in high regard and to whom I will always be very grateful.

Why I Started IKS Locksmiths

We were in the midst of a recession and they simply did not have the work at the time as a locksmith within the company. They kindly offered me a position within the company as a trainee alarm engineer (something that would require both a pay cut and starting again from scratch).

It had been 2 years since I had taken the plunge to make a complete career change from a sales executive to training as a locksmith, so retraining from scratch again was a daunting proposition. Particularly, because I had an 18 month old baby at the time.

Deciding Between Retraining as an Alarm Engineer or Taking Redundancy

I had already invested 2 years of time and energy into retraining as a locksmith and learned so much with my mentor Albert. I had finally found a profession that suited my skills and abilities and one I felt I could excel in and above all I enjoyed it! So I decided it made sense to forge on with my career as a locksmith and I politely refused the offer to retrain and accepted redundancy.

Choosing Between Seeking Employment or Starting Up a Locksmith Business

I never intended to start up a locksmith business on my own straight away but it had been in the back of my mind. Initially, I decided the best thing to do would be to look into staying employed in the industry and working for another company.

After a few interviews with other companies in the London area I was offered a job for a reputable company in West London. I was very surprised I was offered the job, as I had arrived a half hour late for the interview due to heavy traffic on the way there. I accepted the job but then I reflected over a few days before my start date. I changed my mind the Friday before I was due to start. I knew that I was likely to struggle with the traffic on the commute daily and didn’t feel that this would be a good use of time.

The Birth of IKS Locksmiths

So with no one recruiting in the area I brainstormed a few company names and settled on IKS (The initials of my 18 month old daughter). On the 1^st March 2010 IKS Locksmiths Ltd was born.

Setting Up a Locksmith Business

Now I’m pretty sure most people wouldn’t expect starting a business is easy but I can honestly say that if I had known how hard it would have been 2 or 3 years down the line I probably would not have done it in the first place!

Struggles, Hindsight and Regrets

Don’t get me wrong I don’t regret any of it because there were many lessons learned along the way, however it was a few of the hardest years of my life. I was working all the hours God sent whilst trying to keep some work/life balance. I had no holidays for what seemed forever and a young family to support.

Work Life Balance

Could it have been easier? Yes, but if you are someone who wants to go to see their child’s nativity play over Christmas, be there for their Birthday parties and all the other milestones then it will always prove a struggle.

Overwhelm, Mistakes and Pressure

In the early days, I needed to take every job that came in no matter how far away it was because I had to make the most of every lead to survive. I remember doing a job on a Sunday afternoon in Battersea (over an hour to get to at the best of times). I completed the job and got a phone call when I was nearly home from the customer asking me if I had accidentally taken their keys. I checked my pocket and there they were, I had borrowed her keys when going in and out of her flat to get items from my van and had forgotten to return them! So another long journey from North London to the south west adding another 2 hours to my already long journey. At points like these, I questioned my choice to turn down a stable job with a regular salary, less responsibility, paid holidays and sick days.

Financial Outlay and Balancing the Books

The outlay of setting up a locksmith business is, in reality, never over.

I look back at what I used for my first job​ to what I have now and the main part is the vehicle (which is probably the most important and one of the biggest vital outlays you will have).

Investing in a Vehicle

If you are thinking of becoming a locksmith and starting out using a car, think again. Not only is a car too small but you would destroy a car with all the heavy tools and machinery used on a day to day basis. Covering the costs involved in the initial investment and running costs of a commercial vehicle then was a challenge however, it’s even harder for someone starting up a business now, with all the changes that have been put in place.

Commercial Vehicle Costs in 2010 versus 2025

Becoming a locksmith in the UK is harder now than it was 15 years ago. In 2010 you could have used a £500 1990 Ford Transit to do your work. Now unless your vehicle is ULEZ compliant you face a charge of an additional £15 per day to be added to your running costs.

My first van was a Citroen dispatch and I loved it. Unfortunately, it was written off after 2 years when someone opened their door whilst getting out of their vehicle when I was driving past. So I had to move swiftly on to purchasing another van. (This is a good example of one of the many situations that were out of my control and threw a real spanner in the works.)

The 1st Year in Business is The Hardest

They say in business the first year is the hardest, I would concur with this, although it didn’t get majorly easier over the coming years as more investment was required to keep the business going.

Mounting Expenses as The Business Grew

As the business grows overheads grow. Ever increasing expenses came in the form of new vehicles, multiple new website updates, and in later years premises and staff. Unexpected bills would also come in from time to time. The window cracked whilst fitting grilles or the tax I had underestimated for the end of year accounts made things unpredictable.

Generating Business and Income

I experimented over the years with many different methods of securing work. From regular BNI (business networking) meetings to dropping my card into local estate and letting agents to trying to drive traffic to my website and get the phone ringing.

Advertising Fails

Over the years I have invested in various forms of advertising that don’t work! I suppose throwing enough mud at the wall and hoping some of it would stick was my thought process, whilst losing out financially in the short term.

Increasing Work and Family Responsibilities

In November 2011 my son was born. This came with a sense of gratitude as well as increased responsibility. It was a wake up call in terms of how different it was to be a business owner than an employee when it came to taking leave.

Paternity Leave as an Employee Versus A Business Owner

When my daughter was born I had 2 weeks paid paternity leave. When my son was born I had 48 hours unpaid.

I will always remember when my wife was in labour and I had to call a customer to postpone a job. The customer in question was extremely unsympathetic and insisted on it being done that day. I managed to find another Locksmith to do the work and I left the materials required in a safe place for them to pick up.

Employing a Trainee Locksmith

Over the next few years, the business grew year after year and in the middle of 2019 Chris joined IKS as a trainee locksmith. I was very impressed with his attitude and work ethic, I had employed a few other trainees beforehand and on paper one or two of them were more experienced, but experience can only get you so far if you’re not willing to put in the work.

MLA Approved Locksmith

I was keen to provide Chris with training and the opportunity to become an expert locksmith approved by the Master Locksmiths Association, as I had in 2009 thanks to Albert at Woodside Security. Within 3 years Chris completed the MLA exam and he achieved impressive marks too! This was amid a lockdown during those horrible years of 2020 and early 2021. Chris’s knowledge and experience have grown significantly over the last 5+ years and I am grateful for his valuable contribution to IKS Locksmiths.

Surviving Lockdown

The Lockdown was a particularly scary time for many small businesses including my own. In the first month, I did virtually no jobs and my income plummeted whilst most outgoings remained.

Government Support During Lockdown

The government helped out through their furlough scheme and bounceback loans but in reality, the country shutting down was devasting for most small businesses.

We were lucky, we managed to get back on our feet within the first few months. London locksmiths were permitted to do necessary jobs which helped both us to survive as a small business and customers requiring essential locksmith services.

The Present Day

A lot has changed over the 15 years and my support system has been instrumental in moving the business forward.

My Support System

All those years ago the idea of starting up a business was on the back of a cigarette pack (gotta start somewhere!). My wife and fellow Director Anne has supported me in the business since day one when I had no customers, no van, no stock and no tools. She focuses on strategy (together we agree on which direction to take the business), marketing online and visual marketing materials as well as other behind the scenes work.

The support we have had from our amazing SEO Consultant and Accountant has been invaluable over the years. I also value the connections I have made through the Master Locksmiths Association and with fellow locksmiths to bounce ideas off, confide in at times and pass work to. Support from family and friends has also been much appreciated over the years.

Being solo in business can be a lonely place and a good support system really helps, especially when things don’t go to plan.

This support system has been instrumental in the growth of IKS Locksmiths over the last 15 years.

Developing IKS Locksmiths Unique Selling Point

Our strategies pushed the company in a different direction making us specialists in products and services that other Locksmiths don’t tend to provide. This teamed with the level of individual service we provide has become our USP.

Growing IKS Locksmiths to the Next Level

As enquiries for larger products such as Security Grilles and Safes increased so did our need for space. Each growth point required me to come way out of my comfort zone and to be honest it was terrifying from a financial perspective. My overriding thought is always, ‘what if I can’t bring enough work in to cover the costs?’

Changes happened gradually. With more space required, I needed more van space and then more work space to be able to accommodate the changes. I started with just working from a van, next operating from a workshop in my back garden and then taking the larger leap to invest in premises to keep my growing supplies of stock and machinery. We found an ideal unit on the Queens Industrial Estate in Barnet. This was probably both the most daunting change and equally the most beneficial progression for the business. With ample space, I was then able to employ Chris and this opened up more doors (pardon the pun) for IKS Locksmiths. It allowed me to focus my attention on dealing with customers’ requests whereas before that I was doing jobs and taking calls in tandem. This change was much better for the business and also for my ability to manage the multiple demands of running the business more comfortably.

The Future of IKS Lockmiths

I’m not sure what the future has in store for IKS. I hope to keep growing the business but also want to hold on to the advantages for customers that come with dealing with a small family locksmith business, where you have a direct line to an expert locksmith and not a call center.

Thank You to All Those Who Have Supported IKS Locksmiths

In summary, the business and the customers have been very good to me. I work very hard in an industry that I love. Would I have done it all differently now in hindsight? Absolutely! We are all a lot wiser after the event and of course, hindsight is a wonderful thing.

I would like to express my appreciation to all customers and readers of this blog over the years. Whether you have made an enquiry and didn’t proceed, shared or liked a blog post, bought high security locks, had a key cut for £4.00 or spent £2000.00 with us on a Master key system, I genuinely appreciate it and hope to make another 15 years.