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