how to start key cutting business

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1. INTRODUCTION

Due to the increase in the crimes and burglary whole world is busy in finding its substitutes of safety of important assets, jewellery, money, documents, files, etc. for this there is one permanent solution that is locked system with keys or now digitally with passwords, but in case we lost the key then what is the use of that, we will that our important thing indirectly by our fault. So, this key making or cutting business came into existence. This key business usually doesn’t be needed by customers but in emergencies proves very beneficial and urgent for the clients, as they only save their important assets. Nowadays this key business or key cutting business is attending growth at very rapid speed and earning profit also.

2. CASE STUDY

The following are the case studies of the key business:

# Godrej yatra arcade: This Godrej shop is situated in the Mumbai sub urbans. Where they are giving tough competition to other key service centres but the speciality about this store is that makes it different the service, they offer to the customer satisfaction and also the quality they provide is also desirable. Their marketing strategy is also quite good due to this they capture whole area o surrounding with customers.
# Nagaraj key centre: This is the Bangalore based shop having facilities for making all types of key and locker smith specialists. But the best part of this shop is that they customised services for the car keys and make them ready with the active sensors just like the original car remote key has also made the car sensor key within the quick order of the clients remotely. That makes this Nagaraj key centre successful.

3. BUSINESS IDEAS’S SWOT

i) Strength

# Customers finds this key cutting business very useful as mostly faced during emergencies.
# No extra employees needed.
# Key cutting business also can small household business without no extra place to occupy.
# No big investments are needed in key cutting.

ii) Weakness

# This key cutting business can’t be expanded after certain interval.
# Profit margin is very low and cannot be earn much.
# If misuse by employee then this business is risky.
# There is no fix timing for the business, as in case of emergency, so have to open it all day.

iii) Opportunities

# This key cutting business has the opportunity in the automobile sector by starting duplicate automobile key business
# Contacting the automobile showrooms for the services of the key making of cars and mopeds.
# Residential locales can refer key cutting business and key making also in case of emergency and lost of original keys of owner.

iv) Threats

# The key business has the threat from misusing the devices and key making machines that someone is using it in wrong ways.
# Increasing competition is also the big threat to small retailers and new stat-ups.

4. MARKETING STRATEGY

# Effective marketing
# References
# Wholesaling
# Retailing
# Customer discount
# Sales and profit
# Feedback
# Online services
# Free delivery

5. OPERATIONAL PLAN OF Lock key BUSINESS IDEA

# Planning a business: the first important step before starting any business is planning for it. Key business is not like usual business it needs proper strategy for the development of key business.
# Finding a place/ rent a place/household: If planning for the renting a place or owning a land and constricting a store or shop then choose area smartly with no other competitors nearby, because it causes loss of some customers. If started household then well settled your place for the business.
# Market research: Make a deep report on the market and type of market needed for the key business and customers need along with the strategies to catch that market population.
# Advertising/ marketing: These two are the important factors that much done effectively and intensely . because the growth are depends on that only.
# Finding a supplier wholesaler: For the supplying of raw materials find the wholesaler for the purpose that much be sell things reasonably and with some discount.
# Customer service: This is the most important regarding the customer service of the business also that must be done with full honesty and dedication.
# Online services: providing online services to the business helps in growing business as people nowadays search for online services only. And don’t have time to visit that place.