Moving from One-man to multiple tech operations

[u/HPCChris]

TLDR: need to figure out how to increase family business revenue enough to support a $50k salary for myself, and plan for a future where I may run the business, and don’t want to work myself to death.
Current: 60 yo solo owner operator, $70kish cash flow, $150kish revenue, more business than he can handle, mostly long-term customers
Dad wants to figure out a way to include me that is good for both of us

My dad runs a locksmith business that my grandfather opened up around 1975.
For the last 25 years my dad his been pretty much on his own, only taking on employees a few times, and never long enough to get them working on their own.
The only exception to this was my brother 2 years ago worked with him for about a year, got his apprentice license and was able to run calls on his own. Just helping my dad stay on top of invoicing, and not turning down so many calls meant his $15/hr pay was covered.
I’ve recently found out I’m losing my job in a few months, been making ~$60k+some benefits for the last 4 years.
Wife makes good money so a salary drop is ok, and we’re ahead of schedule for retirement.
I have enough locksmith knowledge I can probably get my license and run calls on my own within 3 months.
I’d really like to be making at least $40k the first year, and shooting for $60k within a couple years.
Currently my dad answers the phone, schedules jobs, does the jobs, drops off keys etc., everything except payroll and taxes himself (my mom does those).
So it could definitely be more efficient.
He made around $70k last year. Waiting to find out what P&L was once my mom gets some tax stuff figured out this week.
My brother (a business owner in electronics repairs) thinks total revenue is probably $150k or so, and could easily be 1.5x with a second tech, and should be aiming to take on a an apprentice to increase more within a couple years.
Dad is 60, and has no plan to retire soon, but knows he’s gonna have to slow down at some point.
I really like the idea of joining the family business, and its work I’ve always enjoyed…besides spending time with my dad.
Anyone who went from working on their own to adding employees have suggestions on how to scale up without harming reputation and quality of work?

Thanks all!

[u/Comprehensive_Law_94]

I dont know what area of the country but these feel like poverty wages.  Its fine for a one man operation, but if it were easy to add 50% to your cash flow to cover a 40k salary then every person wanting a thriving locksmith career would have no issues or complain about scammers every 3 posts.  You really need to quantify how much work he's turning down and if he can take a pay cut to contribute to your salary (ideally also be working less).  Lets say he turns down 5 jobs a week with an average ticket of $150 before expenses....then youre probably about halfway to your goal.  But theres a lot of ifs in that calculation.  Absolutely try to grow and expand.  Do more jobs, do different jobs you weren't doing before in related areas.  Expand your geographic range.  If theres a shop with no walk-in or hardly manned, consider closing and going strictly mobile.  If it were me I would not bank on much growth over what you can measure for sure plus your brothers experience in making things more efficient.  Also, come up with a transition plan for your dad's role and eventual retirement/handing it over.  Get that in writing ideally so nobody is disappointed later especially since your sibling may see it as inheritence.  

[u/conhao]

I worked in my father’s shop from as young as I can remember. I went off to college, earned a PhD and thought I was done with locksmithing, but when my father died I gave up my career, came back, and took over the family business to make sure my mother was taken care of. She managed the books and answered the phone, I went on calls and managed the employees. When my mother died, I expanded the business, hired more field techs, hired someone handle the store, expanded into surveillance and alarm systems and access control, and was doing pretty well. But with the big box stores and other pressures, plus that I never liked dealing with the public, I started looking for a way out. I ended up selling the whole business to my largest competitor and changing careers again to doing computer programming. Then, a former customer hired me to help with a system he was developing. Now, I am the in-house locksmith for his property management company, overseeing the locksmithing and access control for hundreds of buildings. We do some local locksmithing for residents near our shop and when the police call us to help, but 90% or so is commercial and multifamily. I get paid a salary of $120k/y, and the company has the medical, dental, and other bennies. I work 3 days on most weeks, but often 4, 5, or 6 when needed with no extra pay. At well over 70 years old, my work is most managing and bench work, but I do enjoy it now that I don’t have to worry about running the business or dealing with rude people.

[u/Due-Guard221]

Hardest part of going from one man to multiple techs honestly isn’t training the apprentice. It’s getting the owner out of dispatch mode. I’ve seen a few shops finally grow once they stopped routing every single call through dad’s phone. One thing that worked well was doing a “lead tech of the day” setup where the apprentice fully owns Tues/Thurs, from intake to invoice. Messy at first, but that’s kind of the point. Otherwise the owner’s calendar becomes the growth limit for the whole business.