Case Study : LockRite Locksmiths - Richie Guy

A former engineer is hitting the right key with his new business after turning his hand to a career as a locksmith. Richie Guy, 29, from Stanley has swapped life as a CNC machinist with Komatsu to become his own boss and set up LockRite Locksmiths.

He received support with the venture from Be Franchising which helped him to buy the licence to run Lockrite Locksmiths in Newcastle, Gateshead and Northumberland. LockRite Locksmiths is one of the country’s leading locksmiths with professionals operating different franchises around the UK.

Richie explains: “I’d worked as an engineer for over 10 years ever since leaving school. I enjoyed the job but was keen for a change, particularly in the current climate as my working hours were regularly reduced.

“My interest in becoming a locksmith was really triggered by my cousin. We both thought it was an interesting career with good business prospects.

“I reached a stage where I felt I had to give it a go and thanks to advice and support from Be Franchising, I’ve been able to turn my plans into reality. I’m enjoying every minute of it.”

Be Franchising is a not-for-profit company set up by Be Enterprising, County Durham’s Local Enterprise Growth Initiative (LEGI). The Shildon-based company works to help more people start their own franchise business or franchise their existing business to expand.

Richie received advice from Be Franchising on how to go down the franchising route to becoming his own boss, the benefits of doing so and help with his business plan. In addition, Be Franchising provided financial support and helped Richie to access the funding he needed at extremely competitive rates, ensuring he started his business with the best possible commercial terms.

Richie operates throughout Newcastle, Gateshead, parts of County Durham and across Northumberland. Having gone down the franchising route he already has a strong customer base and counts names including Sainsbury’s, Asda and SolaGlas among his clients.

He offers a range of services including gaining entry by non destructive methods such as lock picking, mobile key cutting and lock fitting. He is keen to expand his customer base in 2010 and is looking to target housing associations, letting agencies and local authorities.

Richie added: “I’d never really thought about going down this route before but once I spoke to Graham and the team at Be Franchising it made a lot of sense. LockRite is a strong brand and gave me access to an established customer base with good opportunities to grow and shape the business myself in future.

“Business prospects for locksmiths are good. It is a recession proof business with a limitless client base. It’s a service that everyone needs and there’s a variety of work in different areas from new installations in homes and offices to emergencies, warrant work and key cutting.” 

Graham Mylchreest, franchise director at Be Franchising, added: “Richie was determined to set up his own business. He was very interested in becoming a locksmith but was unsure how to go about it. We’re delighted to have been able to help him in the right direction and get up and running.

“For anyone thinking of starting their own business, franchising can be an effective and rewarding path to follow. 92 per cent of franchises are successful and, as in Richie’s case, come with a ready made customer base and network of support.”

For a quote from Lockrite Locksmiths contact Richie Guy on (0191) 381 0009 or 07540 45 45 65.

For more information about Be Franchising call 0845 6027988 or visit www.befranchising.com.