Locksmiths NAICS 561622

Sep 22, 2025 - Jobber Data Highlights Locksmith Opportunity in Q2

• According to the Q2 2025 Jobber’s Home Service Economic Report, home service contracting businesses, which includes locksmiths, saw an increase in median revenue. Q2 2025 showed cautious but steady demand, with homeowners prioritizing urgent repairs over discretionary upgrades. Digital payments hit a record high, reflecting growing consumer expectations for convenience and professionalism. Contracting businesses saw a 5.2% rise in median revenue, driven by high-value, time-sensitive jobs. Providers offering fast response times and maintenance memberships proved more resilient. While new work scheduled declined 1.5% year-over-year in Q2, average invoice size increased 6.8% over the same period. Businesses in the contracting segment benefit from the same demand for urgent, value-driven services. As homeowners invest in maintenance over major renovations, locksmiths have an opportunity to position themselves as essential, responsive providers. The Locksmiths can adapt to economic shifts by focusing on reliability, digital convenience, and recurring service models to meet evolving homeowner needs.
• Commercial Chapter 11 bankruptcy filings, a demand indicator for business-related lock-changing services, dropped 0.5% in August 2025 year over year, reaching 619 filings, according to Epiq AACER and ABI data. The total commercial filings decreased 3% in August 2025 year over year, totaling 2,541 commercial filings. Small business filings, captured as Subchapter V elections within Chapter 11, increased 17% in August year over year. According to ABI Executive Director Amy Quakenboss, “While filings are still below pre-pandemic totals, financial challenges continue to accumulate for consumers and businesses amid an economic environment of elevated prices, higher borrowing costs and uncertain geopolitical activity.”

• US consumer mood indicators have weakened, signaling potential headwinds for spending. The Conference Board’s Consumer Confidence Index fell 1.3 points in August 2025, with the decline driven by younger consumers under 35, while confidence among those over 55 improved. Meanwhile, the University of Michigan’s Consumer Sentiment Index slipped to 55.4 in early September from 58.2 in August, down 21% year over year. Inflation expectations held steady, but persistent worries about prices and tariff impacts remain. Consumer sentiment and confidence are leading indicators of discretionary spending, which drives two-thirds of U.S. economic activity. A continued slump suggests households may curb purchases and delay big-ticket decisions, raising risks for retailers, service providers, and the broader economy.
• Sales for the US locksmiths industry are projected to grow at a CAGR of 4.84% between 2025 and 2029, faster than the overall economy’s growth, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. Consumer sentiment is expected to improve in the forecast period, which bodes well for the management and administrative services sector, which includes locksmith services. Progress post-pandemic in general has come slowly, but services industries are expected to recover more substantially. Factors that may limit consumer spending are higher tariffs on consumer goods. In 2025 and into the forecast period, real disposable income may be supported by continuing nominal wage growth, lower inflation rates, and higher employment levels. Lower inflation provides support for a moderate increase of real disposable income by about 2% in 2025 and 1.9% in 2026.