Startup cost: $1k - $5k

Setup costs for starting a locksmith business range from $1,000 to $5,000. At the minimum end, this would cover basic tools such as lock picks, key cutting machines, and a reliable vehicle for service calls. On the higher end, additional expenses may include specialized equipment for safes, inventory of locks and keys, insurance, and marketing materials. Essential expenses include tools and a vehicle, while optional expenses might include advanced equipment for specific services. Hidden fees to consider could be licensing and insurance costs. Online discussions suggest that costs can creep up once you commit, especially if unexpected expenses arise. To take this side hustle seriously, budgeting around $3,000 to $4,000 would be advisable to cover initial expenses and ensure a well-equipped start.