Locksmith Business Plan

Padraic Lawkse, CEO, will manage all store operations, direct sales and marketing, hire, train, and supervise employees, and provide services. He will hire an assistant store manager to staff the store in the first year of operation. The assistant manager will be responsible for bookkeeping, purchasing, basic cleaning, and opening or closing the store. He will run the store during normal business hours five days a week, while Pad Lawkse will run the store on weekends and be present in the store at times during the week when he is not on service calls.

Store staff will be increased in subsequent years. He will also add an additional apprentice locksmith in the third year who will take over basic services and installations, leaving Pad Lawkse to focus on on-site consultations and services requiring greater skill or experience.

7.1 Personnel Plan

As the business is an LLC and Pad Lawkse is the sole member, he will receive all profits from the business, but is not required to take a salary. However, a salary is shown to assist with his tax planning and budgeting. The assistant store manager will be paid a competitive salary with a bonus for performance. An additional store staff person will be hired halfway through the second year and will be paid hourly. This employee will assist with store sales and running the store, leaving store management to the assistant manager.

The assistant locksmith will be hired part way through the third year. He or she will be paid a salary plus bonus and be required to continue seeking additional certifications with the ALOA. This individual will be enticed to stay with the company through growing responsibilities, experience, and pay in future years.

The business will provide health insurance for full-time employees as well as paid sick leave and paid vacation.