Total Cost of Ownership Calculator

Calculate total cost of ownership for smart locks including purchase, installation, maintenance, and operational costs over the complete product lifecycle.

Difficulty: Advanced
Time: 7-8 minutes
Category: Investment Cost

Initial Investment

Hubs, bridges, network equipment, etc.
Professional setup, configuration, training
Planning, coordination, oversight

Ongoing Operational Costs

Cloud services, monitoring, support
Professional maintenance, inspections
Annual battery replacement costs
Firmware updates, feature upgrades
Internet, cellular, dedicated network costs
Positive for increase, negative for discount

Support and Service Costs

Help desk, technical assistance
User training, staff education
Service calls, repairs, replacements
Percentage of original lock cost for upgrades

Energy and Utility Costs

For hardwired locks and network equipment
Local electricity rate
UPS, generators, backup systems

Cost Savings and Benefits

Reduced security staff, monitoring costs
Reduced key management, lockout costs
Time savings, efficiency improvements
One-time property value enhancement
Annual insurance premium reduction

Analysis Parameters

Cost of capital or desired return rate
Expected annual inflation rate
Equipment value at end of analysis period