When it comes to securing a large commercial facility the lock system is a vital line of defense - and the costs of maintaining that security can really add up. One of the most fundamental security measures is the lock system itself. Traditional locks have been the go-to option for years, but they can quickly drain budgets when it's time for rekeying. Fortunately, innovative lock technologies like interchangeable cores (IC) and user-rekeyable IC cores have emerged as more cost-effective alternatives. In this blog post, we'll compare the costs of traditional locks, standard IC cores, and user-rekeyable IC cores to showcase the significant savings potential of user-rekeyable options, especially when a master key goes missing.
The Scenario
Let’s take a look at a hypothetical scenario: A commercial facility has 500 doors and a master key system. This organization requires 500 locks (one per door), one user key for each door, and five master keys to open all the doors. We'll assume a national average cost of $35 per individual lock and $3 per key.
In this scenario, a master key has gone missing and the location needs to be rekeyed before a security breach happens. Here’s how the costs would break down for a single rekey for traditional locks, standard IC cores, and user-rekeyable IC cores.
Traditional Locks
Traditional lock systems seem economical upfront, but the long-term costs can decimate an organization's security budget, especially when rekeying is required. In our 500-door hypothetical, the initial $19,015 investment for hardware is manageable. However, a single lost master key triggers staggering rekeying expenses. That’s because traditional locks and keys need to be completely replaced or rekeyed by a professional locksmith. That means a rekey of a traditional locks system is akin to buying and installing an entirely new set of locks. Here’s the breakdown of costs for a single rekey of a traditional lock system in our scenario:
- $17,500 to replace 500 locks
- $1,500 to replace 500 individual keys
- $15 for new master keys
Total Material Cost: $19,015
The cost of rekeying through a locksmith can vary, but you can expect to be charged anywhere from $70 to $160 for each rekey. For the sake of our hypothetical scenario, we’ll assume an average labor cost of $115 per lock. Additional costs may apply for services conducted during after-hours or over the weekend, which can accumulate significant expenses over time:
- $57,500 locksmith rekeying ($115 average labor per lock)
Total Cost: $76,515
As you can see, labor costs have a serious impact on rekeying costs when it comes to traditional locks. What seemed at first like an affordable solution has become a severe financial liability overnight.
Standard IC Cores
The standard interchangeable core lock was invented out of a need to rekey in a hurry while eliminating the need to call a locksmith. If a master key goes missing, you can simply swap out all the cores, distribute all new keys, and be done with it. While IC cores cost more upfront than traditional locks, they pay for themselves in the long run with every rekey an organization has to do. That cost savings primarily comes from removing the need to hire a locksmith for the rekey. Here’s how the costs break down:
- $17,500 to replace 500 locks
- $1,500 to replace 500 individual keys
- $15 for new master keys
Total Rekeying Cost: $19,015
As you can see, the biggest impact on savings comes from eliminating labor costs. However, standard IC cores still bear the cost of needing to be replaced with every rekey. Not to mention the time it takes to issue new keys to all key holders.
User Rekeyable IC Cores
Rekeyable IC core locks are engineered to allow modifications without removing them from the lock hardware, requiring only a simple turn of a key. Using a process known as the "step change" method, these locks can be altered without the need for professional assistance or hardware replacement. Unlike standard IC cores which need to be replaced every time an organization needs to rekey, user rekeyable IC cores like those provided by InstaKey can be rekeyed in-house up to seven times before needing to be replaced. If a master key is lost in our hypothetical 500-location scenario, the rekeying cost boils down to just the price of replacing the 5 master keys. Here’s a cost breakdown:
- $15 to replace 5 master keys
- $7 for 1 step change key
- $6 for 1 rekey mailer package
Total rekeying cost: $28
InstaKey eliminates the shortcomings of traditional locks and IC core systems. You gain maximum security oversights with minimal rekeying expenditures across all locations.
Large commercial organizations face an ongoing challenge - finding cost-effective methods of rekeying facilities when the time inevitably comes. Traditional locks and standard IC cores seem like budget-friendly options upfront, but their long-term costs skyrocket due to professional rekeying fees or full lock replacements. User-rekeyable IC core solutions from companies like InstaKey Security solve this problem. Their locks can be rekeyed in-house up to seven times before needing replacement. As we saw, the savings from user-rekeyable cores are substantial, minimizing financial strain while ensuring top-notch security across all sites.
Ready to start realizing massive savings on rekeying costs? Reach out to the experts at InstaKey Security today to explore their user-rekeyable IC core solutions.
