How to Start a Safe Installation Business

Start a safe installation business by following these 10 steps:

1. Plan your Safe Installation Business
2. Form your Safe Installation Business into a Legal Entity
3. Register your Safe Installation Business for Taxes
4. Open a Business Bank Account & Credit Card
5. Set up Accounting for your Safe Installation Business
6. Get the Necessary Permits & Licenses for your Safe Installation Business
7. Get Safe Installation Business Insurance
8. Define your Safe Installation Business Brand
9. Create your Safe Installation Business Website
10. Set up your Business Phone System

We have put together this simple guide to starting your safe installation business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out othersmall business ideas.

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

• What will you name your business?
• What are the startup and ongoing costs?
• Who is your target market?
• How much can you charge customers?

Luckily we have done a lot of this research for you.

What will you name your business?

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit ourHow to Name a Businessguide or get help brainstorming a name with ourSafe Installation Business Name Generator

If you operate asole proprietorship, you might want to operate under a business name other than your own name. Visit ourDBAguide to learn more.

Whenregistering a business name, we recommend researching your business name by checking:

• Your state's business records
• Federal and state trademark records
• 社交媒体平台
• Web domain availability.

It's very important to secure your domain name before someone else does.

What are the costs involved in opening a safe installation business?

The costs associated with opening a safe installation business are minimal, in part because these businesses don’t have to carry an inventory of safes. There’s no need for a showroom or customer-facing office unless a business decides to sell safes.

Starting out, business owners need tools, hardware, and transportation that’s capable of moving safes. Business owners who don’t already have tools can purchase used ones inexpensively, and the required hardware is cheap. For transportation, business owners can either purchase a truck or rent one when they have installation jobs.

Most business owners already have a computer and phone that they can use for their business.

What are the ongoing expenses for a safe installation business?

The ongoing expenses for a safe installation business are minimal, as long as the business doesn’t have a customer-facing office or showroom. The basic expenses that business owners need to plan for are fuel, vehicle maintenance, and hardware costs.

Who is the target market?

The target market for a safe installation business is anyone who owns a safe. This includes both people and businesses that already own safes and those that are purchasing new safes.

How does a safe installation business make money?

A safe installation business makes money by installing safes. Businesses may serve both individual and commercial customers.

How much can you charge customers?

The average price of a home safe installation is$695, although the price can vary depending on size and security features. Few residential jobs exceed $1,000. Commercial safes can cost much more to install, often running into the thousands.

How much profit can a safe installation business make?

With the average installation running nearly $700, a safe installation business can make a sizeable revenue. Even installing just two home safes a week can lead to an annual revenue of $72,280. With operating expenses so low, the majority of this revenue is profit.

How can you make your business more profitable?

Many people who install safes also sell safes and provide generic locksmith services. Selling safes requires a sizeable capital investment in a retail space and inventory, and becoming a locksmith requires training courses. Both options, however, provide good opportunities for a business to grow.

STEP 2: Form a legal entity

The most commonbusiness structuretypes are thesole proprietorship,partnership,118bet金博宝 , andcorporation.

Establishing a legal business entity such as anLLCorcorporationprotects you from being held personally liable if your safe installation business is sued.

You can金宝搏188是什么公司yourself and pay only the minimal stateLLC costsor hire one of the118金宝app for a small, additional fee.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

There are specific state taxes that might apply to your business. Learn more aboutstate sales taxand franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to aspiercing your corporate veil.

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

• Separates your personal assets from your company's assets, which is necessary for personal asset protection.
• Makes accounting and tax filing easier.

Get a business credit card

Getting abusiness credit cardhelps you:

• Separate personal and business expenses by putting your business' expenses all in one place.
• Build your company's credit history, which can be useful to raise money later on.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with ourLLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate an Safe installation business. Learn more about licensing requirements in your state by visitingSBA’s reference to state licenses and permits.

Certificate of Occupancy

A Safe installation business is generally run out of a building. Businesses operating out of a physical location typically require aCertificate of Occupancy(CO). A CO confirms that all building codes, zoning laws and government regulations have been met.

• If you plan to lease a location:
• It is generally the landlord’s responsibility to obtain a CO.
• Before leasing, confirm that your landlord has or can obtain a valid CO that is applicable to a Safe installation business.
• After a major renovation, a new CO often needs to be issued. If your place of business will be renovated before opening,it is recommendedto include language in your lease agreement stating that lease payments will not commence until a valid CO is issued.

• If you plan to purchase or build a location:
• You will be responsible for obtaining a valid CO from a local government authority.
• Review all building codes and zoning requirements for your business’ location to ensure your Safe installation business will be in compliance and able to obtain a CO.

Labor Safety Requirements

It is important that your business complies with federal and state labor safety requirements. The following link provides an overview of employer responsibility regarding labor safety.

https://www.osha.gov/workers/employer-responsibilities

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully.Business Insuranceprotects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face,begin withGeneral Liability Insurance. This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need isWorkers’ Compensation Insurance. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

Is this Business Right For You?

Anyone who is willing to move heavy items and is a good problem solver may enjoy running a safe installation business. Business owners must be able to physically move the safes into place and work out any installation issues that arise on the job.

What happens during a typical day at a safe installation business?

Installing a safe involves:

• Driving the safe to the customer’s location
• Surveying the precise installation location
• Bringing the safe to the installation location
• Securing the safe in place

Depending on how busy a business is, it may install several safes in a single day.

What are some skills and experiences that will help you build a successful safe installation business?

In order to be successful, business owners must know both how to install safes and how to run a small business.

To learn how to install safes, prospective business owners can work for a locksmith who offers this service or take a safe installation course.Swagelokand other safe manufacturers offer classes on how to install their products.

To learn about running a small business, business owners may want to enroll in relevant courses at their local community college or online.Coursera,Harvard Business School, and other platforms offer online classes.

What is the growth potential for a safe installation business?

Most safe installation businesses are small businesses. AAA Safe & Lock Co.andHeritage Locksmithare two examples of small businesses that offer safe installation (and other services) throughout their local area.