Getting back into Locksmithing

I was a self employed locksmith in Louisiana for about 5 years and later worked as a locksmith for a major hotel for 6 years. However, I have been out of the industry for about 16 years and have not kept up with it very well. I am now thinking of restarting a locksmith business of my own. I am sure a lot has changed over the past 16 years and would appreciate any advice or suggestions.

A couple of questions that come to mind are:

1. In know this is more of a local question, but in general, is there a lot of competition?
2. In general, how is the market for Locksmith services? Can you still make an adequate living in this business?
3. Are there any recommended service pricing guides? Again, I have not estimated a locksmith job in over 16 years.
4. What credentials do you need these days to purchase tools and supplies?
5. Any newer technology training recommendations?

I am sure there are many things I have overlooked, so feel free to reply with any information that you think may help. Thanks in advance for any advice.

Alot has changed when it comes to automotive locksmithing, but you will still run into automotive locks that do not have transponders. Getting into transponders and the equipment that is needed is quit expensive. I think a person can still earn a great living doing residential and industrial along with some automotive. Up till about 1996 about the only thing new was VATS, which is really easy with a little investment of the key blanks. I am doing the same thing you are, I have been out of the business for 10 years and investagating avenues of returning to it. I am finding out that you just need to do research on the newer items that have come out and that can easily be done with magazines like National Locksmith and of course ALOA books. Join an association and pick the brains of other fellow locksmiths in the business, you'll be up to date in no time, it is just a matter of getting back into the stream of things and get your hands dirty. All your past knowlege will serve you well.