The unprecedented COVID-19 situation has created havoc to the entire world. The year 2020 seems like a nightmare and has turned everything upside down. It has severely affected many lives, livelihoods and businesses resulting in the downfall of the global economy.
The worldwide lockdown due to the pandemic made most of the businesses to close down temporarily, including the locksmith industry. Though locksmiths considered as an essential service, a majority of them had to cease their services, during this period to stay at home and stay safe from the risks of COVID-19.
With the economic downfall that is happening in the world, it has become difficult to understand if things will ever be the same again! But there’s one thing for sure, that moving forward there will be a change in the scenario in the locksmith industry.
Effects of COVID-19 on Locksmith Industry:
Reduced amount of work:
Due to the outbreak of the Pandemic, there have been lockdown and restrictions to move out of the house. Even during these difficult times, few locksmiths have greatly extended their services but, people are scared to get the service done. So, there are no new customers, resulting in a reduced amount of work than the usual.
A decrease in business size:
Many Locksmith companies in Portland have decreased their team size as there is no revenue. To avoid the variable expenses, only a few employees are retained to work and, there are cut-offs in the salaries too.
The locksmith industry in PDX is majorly dependent on residential and commercial. Over 90% of the locksmith patrons such as corporate offices, restaurants, malls, retail stores and more have put a pause on locksmithing services because of the pandemic. Hence, there has been a huge financial crunch to run the locksmith business.
No scope for new customers:
With the lockdown and other safety protocols, there’s no scope for new customers but, a few business owners have used the COVID-19 downtime as a chance to carry out repairs and maintenance.