NAICS 561622 Quarterly Industry Report
Locksmiths
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 561622Sector: Administrative and Support and Waste Management and Remediation Services (56)Updated: Q1 2026
About This Report
This industry profile for Locksmiths (NAICS 561622) draws on data from the Bureau of Labor Statistics[6], U.S. Census Bureau, and SBA size standards database[7]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, security consultants, and business brokers with current market data. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team, with all quantitative claims sourced to publicly verifiable databases.
Industry Snapshot
Key metrics for the locksmiths industry.
Share of Administrative and Support and Waste Management and Remediation Services
0.9%
By establishment count, 2022 Census[2]
NAICS Sector
56
Administrative and Support and Waste Management and Remediation Services
Industry Definition & Overview
Locksmiths (NAICS 561622) encompasses establishments primarily engaged in selling, installing, repairing, or adjusting mechanical or electronic locking devices, and safes and security vaults per the U.S. Census Bureau[5]. This classification captures both the retail sale of locking devices and the professional services of installation, rekeying, and repair.
About 8,316 establishments employ roughly 16,239 workers, generating about $2.1 billion in annual industry revenue with $635 million in total payroll. Firms range from single-operator mobile locksmiths to multi-location businesses offering residential, commercial, and safe/vault services per the Bureau of Labor Statistics[6]. The industry is highly fragmented; most firms are sole proprietorships or small partnerships serving local markets.
Licensing requirements vary dramatically. About 15 states require formal locksmith licensing, including California, Texas, and North Carolina, while the remaining states rely on local permits or have no requirements. Emergency lockout services drive a large portion of consumer demand, with 24/7 availability expected in most markets. Pricing ranges widely; residential rekeying runs $50 to $150 per lock, while safe opening can cost $200 to $1,000. Per the SBA Table of Size Standards[7], the size standard is $25.0 million in average annual receipts. California alone supports 493 firms and 2,196 employees, making it the largest state market.
What's Included in This Industry
- Residential lock installation and repair
- Commercial access control system installation
- Key duplication and blank key cutting
- Safe and vault opening and servicing
- Lock rekeying and master key system setup
- Emergency lockout services
- High-security lock system installation
- Electronic lock programming and maintenance
- Automotive lock and key services
- Security assessment and consultation
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Administrative and Support and Waste Management and Remediation Services | 56 |
| Subsector | Administrative and Support Services | 561 |
| Industry Group | Investigation and Security Services | 5616 |
| NAICS Industry | Security Systems Services | 56162 |
| National Industry | Locksmiths | 561622 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 561621 | Security Systems Services (except Locksmiths) | Security Systems Services install and monitor alarm systems that complement physical locking devices, creating layered security combining electronic monitoring with mechanical access control |
| 561612 | Security Guards and Patrol Services | Security Guards provide human security personnel that work alongside locksmith-maintained locking systems to protect properties through combined physical and personnel-based protection |
| 561611 | Investigation and Personal Background Check Services | Investigation Services conduct security assessments and forensic analysis that may identify vulnerabilities in locking systems requiring locksmith remediation and upgrade |
| 423690 | Other Electronic Parts and Equipment Merchant Wholesalers | Other Electronic Parts Wholesalers distribute lock hardware, electronic access control components, and key blanks to locksmith operations for installation projects |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | California | 12.3% | 492 |
| 2 | Florida | 11.6% | 461 |
| 3 | New York | 8.6% | 345 |
| 4 | Texas | 8.0% | 319 |
| 5 | Illinois | 3.5% | 139 |
| 6 | Georgia | 3.1% | 124 |
| 7 | North Carolina | 3.0% | 118 |
| 8 | Pennsylvania | 2.9% | 115 |
| 9 | Virginia | 2.4% | 96 |
| 10 | Colorado | 2.4% | 96 |
% Of Establishments
0%
12%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
360
Total SBA Loans
$77.6M
Total Loan Volume
$216K
Average Loan Size
10 yrs
Average Loan Term
10.50%
Average Interest Rate
2,384
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per the SBA Table of Size Standards[7], Locksmiths (NAICS 561622) has a size standard of $25.0 million in average annual receipts for federal contracting purposes. SBA 7(a) loans[8] support vehicle acquisition, tool and equipment purchases, and working capital for qualifying firms. The mobile service model typical of locksmith operations requires ongoing investment in vehicles, key cutting machines, and inventory of lock hardware. Additionally, 504/CDC loans[9] provide long-term, fixed-rate financing for major fixed assets such as real estate and equipment.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | First Commonwealth Bank | 24 | $15.1M | $627K |
| 2 | Newtek Bank, National Association | 56 | $12.6M | $224K |
| 3 | Gesa CU | 16 | $7.8M | $485K |
| 4 | Northeast Bank | 48 | $7.4M | $154K |
| 5 | Idaho Central CU | 8 | $4.6M | $575K |
Frequently Asked Questions
Common questions about this industry.
What types of businesses operate as locksmiths?
Firms range from mobile solo operators to multi-location businesses with specialized departments for residential, commercial, automotive, and safe work. About 8,316 establishments employ roughly 16,239 workers per the U.S. Census Bureau[5]. Most are small, serving local markets within a defined service radius.
How is the locksmith industry structured?
The market is highly fragmented with annual revenue of about $2.1 billion and total payroll of $635 million per the Bureau of Labor Statistics[6]. Most firms are sole proprietorships. Emergency lockout services drive consumer demand, while commercial rekeying and access control provide higher-margin recurring work.
What is the SBA size standard for Locksmiths?
Per the SBA Table of Size Standards[7], NAICS 561622 has a size standard of $25.0 million in average annual receipts. This determines eligibility for SBA loans, federal contracting set-asides, and small business programs.
What NAICS codes are related to locksmiths?
Related codes include NAICS 561621 (Security Systems), NAICS 561612 (Security Guards), NAICS 561611 (Investigation), NAICS 238210 (Electrical Contractors), and NAICS 238350 (Finish Carpentry) per the U.S. Census Bureau[5]. Each supports or complements locksmith operations.
Which industries use locksmith services most?
Property management companies, hotels, commercial building owners, auto dealerships, and construction contractors generate the highest demand. Tenant turnover in rental housing creates steady rekeying volume. New construction requires initial hardware installation and master key setup.
What activities are included in NAICS 561622?
Core activities include lock installation and repair, key duplication, safe and vault servicing, rekeying, emergency lockout response, electronic lock programming, automotive key services, and security assessment per the U.S. Census Bureau[5].
Can locksmith businesses get SBA loans?
Yes, firms meeting the $25.0 million size standard qualify for SBA 7(a) loans[8] covering service vehicles, key cutting equipment, lock inventory, and working capital. The mobile service model creates ongoing capital needs for vehicle replacement and equipment upgrades.
Which states have the highest concentration of locksmiths?
California leads with 493 firms and 2,196 employees. Texas, Florida, and New York follow per the Bureau of Labor Statistics[6]. States with licensing requirements tend to have more formalized and trackable locksmith businesses than unregulated markets.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]U.S. Census Bureau census.gov
- [6]Bureau of Labor Statistics bls.gov
- [7]SBA Table of Size Standards sba.gov
- [8]SBA 7(a) loans sba.gov
- [9]504/CDC loans sba.gov
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