Inflation in the Locksmith Business (Update) | #Lockboss Show & Giveaway

Inflation in the Locksmith Business (Update) | #Lockboss Show & Giveaway

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oh hey everybody hey welcome back you know i'm  i just clicked over to the comments when i was   waiting because it didn't look like i was  live but i guess i was live so anyways uh   welcome back i'm happy to be here with you  today happy tuesday beginning of june um i   sure hope the weather is good where you are  up here in idaho it's actually a nice day   it's one of the first nice days um in a decent  amount of time that at least i can remember   fun fact i actually haven't even turned on my  sprinklers at my house at all yet so hopefully   we're going to have good weather um soon so uh  with that being said i see some of the comments   here that's funny yeah so sorry to make you  guys wait through that again that is good   stuff um all right so hey we have a whole bunch  of stuff uh packed in tonight but there's a few   a few things that i want to start with first off  cheers to all you out there drinking taco chico yeah john you know i don't know maybe that will  be on the next bloopers you know that'd be a good   one but oh my gosh that's good you know what a  great way to start you know kind of throw me off   a little bit throw me off but uh let's see here so  now before we get started though i want to bring   up one important thing and i want you to make sure  you hear me because i think you're going to like   it all right and that is this month we released  our lock boss camp fire mug i'm sure i don't drop   it here uh that's what it looks like it's pretty  awesome i've personally been drinking coffee out   of it every morning since uh we got them in here  and they are great and the good news okay is any   order over 250 dollars you can add one one of  these to your cart for free however um something   else is that if you stick around to the end um  five lucky winners are going to get one of these   for free no purchase necessary we of course  like always just want to hook you up all right   so please i tell you what when um for those of you  like they've been going out like crazy with orders   uh people have been attaching them and getting  them for free so we would love to see pictures   of these i even more importantly than just seeing  the picture i want to see what you like drinking   inside of it all right so make sure when you  send pictures in of your mugs you include what   beverage is in there because i want to see  it so uh be kind of fun but anyways let's uh let's go ahead and get the party started  here um and of course you know sometimes   i forget to announce so at the end here  we're gonna announce this week's five   lucky lock boss winner so we'll be  getting there in just a few minutes here all right so we're going to be um going doing a  whole bunch of stuff here and let's start with   the post of the week which is actually should  be plural i need to change that because i got   several of them first one up was the uh key uh  cleaner uh iq test right there um i mean just   you know looking at some of the comments and just  looking at it i was like oh my gosh like just   thinking about it is painful to even think  but um i tell you what once again the internet   is creative isn't it very very uh  creative so that's a good one here   oh yeah odin's lock sent that in and that's a  good one next up we have a picture from thomas   w he says just wanted to write a quick thank you  note this means a lot to someone like myself just   getting started in the locksmith trade  what an awesome surprise when i opened it   open the box from you again thanks so much how  cool is that well you know thomas i tell you   what thank you for participating in the  lock boss giveaway i also love seeing a   couple of our a couple of our pinning mats sit  down there so yeah flash zero zero eight and   um that kit looks like a great addition to  what you got going on so very happy for you next up is uh what is the most embarrassing  thing you've done in front of a customer now   let's talk about that image for a second  there i mean um i really hope that   uh that image was made for uh a meme or  something that's interesting and special   but i tell you what i loved reading here just a  few minutes ago i was reading through the uh uh comments on that video the stories and tell what  they are funny okay just darn right funny which   hey in this industry okay in this trade  there is a lot of opportunities to do   embarrassing things in front of customers  so um we're definitely not short of material   let's see here comment of the week this  is from ed he says great video gentlemen   now i have to convince my wife that it's okay to  spend my retirement money on a new framing machine   learning how to lock boss from clk ed  that's funny man um uh i'm trying to   think about any pointers for you i mean i'm  guessing uh you know the stock market's down   tremendously i don't know if that helps or hurts  you probably hurts you in this situation um but   hey if you need us to vote help vote with you on  that we can definitely throw a vote in your favor   but that's good stuff here all right moving on  okay now you know what here before i do so we're let's see here so we're going to be talking  about inflation and all of that and i figured   you know i mean that's really not a  fun topic for any of us to really talk   about so i figured we'd have a little fun  with the few memes beforehand here we go   first up is how i will be driving my kids to  school once gas prices hit five dollars a gallon   it's a pretty good one you know i mean can  you imagine for a second my dad doing that um   taking me to school that way can you imagine me  back there on the roller skates my dad up there   pedaling that'd be um a sight to see i wonder if  we could reenact that scene there but the funny   part about this meme is that um it really dates  itself with the whole five dollar a gallon thing   right i mean most of us are creeping around  that area um which to me even makes this meme   a lot more funny um next up we have me once gas  hits five dollars now the funny part once again   is that the meme is talking about five dollar uh  gas like it's a long ways away but uh so it really   dates it which is funny but i absolutely uh love  adding the wheel on the bottom i mean that would   definitely probably break my arm putting one  of those on the bottom with falling but uh hey   what do you know so with that said let's let's um  let's talk about uh inflation here a little bit i   have a couple things i want to share with you  show you um and then we're going to get on to   this week's winners so here we go all right now i  have to point out that um geronimo who makes these   images for us here uh man why do they have to  do crazy eyes hey if you guys notice i i haven't   been doing crazy eyes as much in the videos okay  i've been working on the crazy eyes yet here we   go we got crazy eyes going on but anyways um all  right here we go so i pulled this yesterday from   gas buddy and essentially is what this is is a 18  month average retail price chart now of course it   varies based on state with the different taxes  and all that other stuff but it definitely does   give us a decent way to look at it now hopefully  when we look at a chart like this we hope that   this is what our portfolio looks like maybe like a  retirement portfolio right we like that upwards to   the right trend unfortunately this is the gas  price and as of yesterday when i pulled this   uh let me see what that is 66. so it looks like uh  the gas price you know it's it's just a hair under   five dollars nationwide so um when we first  started talking about that you you know you   go down a little bit you know we've definitely  seen a pretty good um spike right we just have   now with that being said right now we've already  talked about this in the past you know uh   months ago and that we really need to keep a  good eye on our trip charge rates and as the   gas prices change because that can definitely  affect a lot of us and unfortunately this is   proof that that is something that we um  need to definitely um keep up on yeah now   locks ny you are right you know how our retirement  uh uh charts look right now it's kind of the   opposite of that but you know i guess we'll  leave that for another story another day but   uh so not only did i want to bring up gas to  just talk about it that we have got to just   make sure we're staying up to date with our chip  our trip charge prices but i want to share this   next slide with you here um and that is some  more price increases from manufacturers so   um these are happening a lot okay um and it's just  the reality of you know the world we live in right   now and so june 1st you know just a few days ago  jma had a nine percent increase ilco on june 13th   is doing a 5 to 20 increase the 20 is on nickel  silver keys so like your best keys and that sort   of thing so if you're used to buying best um  nickel silver key or excuse me ilco nickel   silver keys well they're going to be 20 more  um after the 13th unfortunately but most items   went up about 9.5 percent abs um they're going  up right around 11 and um as you can see there key decks is going up 25 but that's our  first increase since 2017 so that's actually   pretty minor but it's definitely a lot at once so  why do i want to bring this up well first of all   i just want to um talk about it i mean this is  something that um is reality right i mean it's   the reality of the times that we're living in  and in this industry in particular we're very   heavy into commodities when it comes to uh metals  the brass the zinc the copper all of that kind of   stuff you know in is blocks and keys so it makes  perfect sense that when we get into these like   high price spike times um in the metals that we're  going to uh experience this and i think you know   and so i guess the best way i could kind of say  this and put this out here really quick would be   a lot of times when it taught when we talk about  inflation and all these price increases it's easy   to want to like shift that narrative and just  kind of be upset about it maybe you know talk   politics talk this or that how we things can  be done differently and make it better and all   that i totally get it by the way i totally  get it but a lot of times we get so busy on   that area that we don't spend time to really  think through or really have good conversations   about what we can do about it right so  unfortunately uh myself nor you can change the   price of the skyrocketing price of brass okay  but is what we can do is try to get ourselves   set up to where when we have these increases  um that we can stay with it we can stay with it   and make sure that we're not paying the price um  for not raising our prices and finding ourselves   um our bank accounts going down and making it  harder to do business and so while when you   see and why why i put those percentages on there  really quick of that's just happening this month   is just for like a rough thing right so every key  on your wall right now i guess what i'm trying to   say is this every key on your wall right now is  essentially worth ten nine to ten percent more   and that's good right that's good um because  your assets in your business just became more   valuable but at the same time next time you buy  that key it's also going to be more expensive   and so you want to make sure that you're adjusting  accordingly and probably the best way to see how   you're doing if you use like quickbooks or um some  sort of like xero some sort of accounting software   is just pull up two profit losses like the last  month or the last quarter in 2021 and the first   quarter in 2022 and just kind of look at your  expenses and see what you're the gas line item   is and the different items just see how you're  doing right i mean one thing we can agree about   is everybody does it differently and has different  thoughts and ideas when it comes to pricing and   this and that which is fine um but something that  you can do that you can use more of as like a   truth document is looking at a older profit loss  against a current one and see how you're doing   with the price there are the rising prices all  over the place whether it's gas whether it's your   lock hardware or your keys or whatever it is  right so being able to just sit down and take   that time to look at those prices and see  how you're doing personally as a business   um i think can be the most helpful thing that  you can do instead of just you know we all   wish it was maybe a little different right so  that's kind of what i have to say about that   uh today um i hope you found that helpful um  hopefully it's really just a reminder about hey   you know what i need to pull that profit loss in  quickbooks and kind of just see how i'm doing or   hey thanks for bringing it up the fact that right  now um the uh keys are essentially this month   nine to ten up to twenty percent more than they  were um last month so that that's the thing   right that's it's reality and i tell you what it  is it's crazy you know from my personal experience   i mean i've never seen anything like this none  of us have um but i mean i don't know if it'll   stay like this or if it's going to go up or down  but is what i can tell you what i'm going to do is   stay with it and i hope you do as well so  there you have it there um let's go ahead and move on from price increases on to  this week's five lucky lock boss   winners so here we go let's talk about it so what  to do oh and before i forget here and get going um   make sure you stick around because at  the very end i'm gonna i'm gonna uh   give you instructions on how you can  get one of these free i know i'm small   right now you see right here lock boss camp  fire mug so here we go uh what to do if you   win email us your shipping info to sales at  clksupplies.com or call us at 800-848-6989

and we'll send your gifts soon how to win comment  on our video videos and include the hashtag   lockboss winners will be chosen from the  previous week's videos no purchase necessary   to enter which is really my favorite part  because i'm not into really gimmicks that   much and i'm sure you're not either so um  that's how we do it and without further   ado let me take a sip of topo here and  we're gonna announce the five winners all right here we go winner  number one this week is jeff moss jeff cool stuff congratulations  winner number two this week is   kenneth stuttman kenneth  congratulations let's see here   winner number three this week is curly  curly congratulations winner number four   this week is jimmy j jimmy congratulations and  last but not least winner number five this week is zachary willard zachary congratulations good stuff   all right so um here's a little our little ad  here for the uh camp fire mug you can get them   for free with any order over 250 dollars one of  one probably one of the best parts i love about it   is there's no limit right so for those of  you who place 250 orders with us all the time   i mean you could essentially get one every order  right we're not gonna limit that so it's cool all right so now the question is is how do you get  one of these okay so we're gonna be you know i was   gonna give away five but you know ten sounds  like more fun okay so we're gonna give away   um ten and uh and um this is what we're  going to do okay so listen carefully in this subject okay so you're going to send an  email now don't do anything until we get done   here okay um but uh because you have to know the  instructions but you're going to send an email to   sales clksupplies.com but this is what's important  in the subject line i want you to put the   name of this smug there's a name i've mentioned  it a few different times it's on our website but   there's a name of this mug and so put the name of  the mug in the subject line and put your address   in the email and the first 10 people  who get it correct are going to get   a free mug that's right we're going to give  this to you for free we're going to ship it   to you for free we're going to hook you up like  we always do because you guys are awesome and   you guys matter so that's what we're gonna  be doing and um i look forward to um sending   uh one out um if you haven't uh let's see here  i'm sorry i'm reading the comments got a little   distracted there but uh perfect everybody well  that's what i have for you today i hope you all   have a great tuesday evening we have some  really cool videos coming up and um i look  

2022-06-11 08:17

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