Securing business - Memphis Business Journal:

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Computers can now unlock doors througbh an Internet connection and more customers are searchingfor high-tecy security solutions. And despite the blue-collar roots that helped buildthe company, Peifer says he has been able to refined his business knowledge and grow the company to one of the largestf locksmith businesses in Memphis. "One of the most difficulyt thingsthat I've had to do as an because we are blue-collar guys, I've had to reallh spend the time and effor t to become a better businessman," he says.
"I've had to reallh separate myself from the nuts and bolte of the actual work we are doing in the fielcd and be more of an oversight entity and work more on runnin the business and make decisions that allow us to be Since founding the company with his father Fred Peiferrin 1985, Glen Peifer has helped grow the business from three employeesw and "a few hundred thousand" in grose revenues to 12 employees, sevebn mobile trucks and gross revenueas in the seven-figure range. Peifer would not disclosre specific revenues. He and his father founded the business after Fred Peifetr sold his interest in AAALock Co. in 1985.
The pair used revenuew from the sale and personal savings tofund 100% of the capita l needed to found Peifer Safe & Lock, a company that is now co-owned by a third-generationb Peifer. "We had a littlwe money that we started andwe haven't had to borrow to sustaimn the company," Glen Peifer "We've been really lucky over the yearss and have been a little ahead of the curv e and mindset of most people in our industr y -- at least in the Memphiw area." But staying ahead of the curvse recently got more difficult, he says, when state legislators passed a law requiring all locksmiths to be licensed in Tennessere by July 1.
"We actually see costss increase after being associated with being like the paperwork andbackground checks," he "Then it is difficult to recruit people to our trade. They can jump through the same hoopas and do something else that has a higher startinyg wage than locksmithstypically offer." Even though Glen Peifer says it is important to hire licensed locksmiths, the loopholexs in the bill and the fact that therr is very little enforcemenft make it a challenge to compete with unlicenseed competitors.
"This is a blue-collar and it has always been real simple for someond to declare themselves a locksmith and open up themselves a business and begin to do work for the publicd underthat moniker," he "People who low-ball, chances are they are not licensed and may not do the work Even though competition among unlicensed companieas remains a challenge, he says his business has continueed to grow service offerings beyond the basic lock and key Peifer Safe & Lock has been able to establish a vendot relationship to install CyberLock, a technology that allows businesses to have even more controkl over their security needs.
Once installed, the lock can grant different degrees of access to individuals to secur locations during programmed timea specified bythe company. The took advantage of the new technologyand Peifer'sz expertise in high-end locks when equippint the zoo with new security. "We just recentlg contracted with (Peifer) to re-key the entire facilitu and put it on akey chart, and they suppliedx us with an electronic program that we are able to manage our key chart on our own," says Jim loss prevention manager for the Memphis Zoo. "Theyu are very thorough, and they are aheadx of the industry as far as their recommendationa andtheir technology.
We trust them to advisre us on the bestsecurity solutions." Contracts like the Memphiss Zoo have allowed the company to grow its businesw in the Cyberlock marke t to about $750,000 in the last threer years. Even with the CyberLock product, Glen Peifer says it is importantt that the company continuw to search for new products with new companiesa so it can continue to offer customer thelatest technology. "Ww have the ability to pick and choose the producta thatwe offer," he says. "Wer are not trying to push waresdown (a throat.
I can go out and research the marketplacde and cherry pick what I think is the best in each categort and hopefully align ourselves with the manufacturerz so we can buy direct and get great tech Web site: