This acquisition opportunity is a company that provides high-quality commercial security service solutions, locksmith services, and custom security systems throughout the Pacific Northwest. A full-service security business, the services offered by the company include installing new locks, wiring in access controls & connecting it to a network, programming systems and monitoring alarm systems. They also replace doors & locks, and even venture into IT network installs and maintenance, with the distinction of being a licensed general contractor & and a licensed electrical contractor, thereby allowing them to provide more sophisticated and higher-end IT installs such as servers, IT racks, wiring in network jacks & more than many of their competitors. The business currently supports more than 50 RMR customers while monitoring their alarm systems, which is a market segment that could easily be expanded in the future.

Locksmithing has evolved over the past 50 years on a regional basis with small independent shops, and essentially no dominant national competitors in this fragmented industry. Target customers are commercial and retail outlets as well as prime contractors who need locksmith and door sub-contractor services. 90% of the companies’ business is conducted in the State of Washington, with the other 10% split between Idaho & Alaska.

The business is operated in a 2,336 sq. ft. building with the space allocated 50% office, 25% stock room, and 25% service area. The store is atypical for most locksmith businesses with very little product on display and very little service work done on the premises. The current rent is $60,000 per year, plus NNN charges. The owner of the business also owns the real estate and he is prepared to rent the space at current market rates, or in the alternative the real estate could be a part of an acquisition for an additional amount to be determined.

The Seller fills a general oversight role for all operations. The business also has 11 other full time staff, that is comprised of a salaried Lead Tech/Vice-President who handles complex installations and oversees most tech jobs in the field; a salaried Office Manager/Corporate Secretary who oversees administration also assumes primary responsibility for job scheduling; five certified field techs; and various hourly support staff who also contribute to store administrative issues, support, and compliance. Most of the staff are cross trained to assist in multiple positions to ensure consistent service and productivity