A potential deal for Sellers Lock & Key to buyout Lees Lock & Security Service could be completed as early as next week.

Jeff Sellers, who opened Sellers Lock & Key in June of 2008, said the move is a great one for his company at the end of a strong year.

“2009 has been a great year for us,” Sellers said.

Sellers Lock & Key has been nominated for 2009 Business of the Year through the Austin Area Chamber of Commerce.

Sellers said “honest hard work” has been the key to his successful business.

Art Nelson, owner of Lees Lock & Security for three years, said he’s making the move because of the poor economy. Nelson also owns Art’s Parts, a store that sells various products online, and he said the move allows him to donate more time to that business.

“I run two businesses, and I’m just bailing on one of them,” Art said.

After his business slowed in June, Nelson said it was too much with the economy and the competition in town.

“I appreciated their business over the last three years,” he said. “Sometimes you just got to pull the plug.”

If the sale is finalized, Sellers would take on Lees Lock & Security’s commercial accounts. The rates would change to match Sellers’ costs, but he said they’re comparable.

Sellers plans to continue operating the Lees Lock & Security phone number and continue the current advertising in place for the business until it expires.

Because of the recent economy, Sellers said he’s trying to keep his services affordable.

Sellers works with residential and vehicle lockouts, lost keys, commercial accounts and other security issues.

He worked as a locksmith before starting his own business, and he said that experience has been very valuable. However, continuous learning is necessary to stay competitive in the field, Sellers said. He is currently training to expand his services to work with safes.

“This career is very unforgiving,” he said. “You have to know what you’re doing, and you have to do it right.”

Along with training, he said he’s looking to acquire new equipment. He’s also getting some new equipment from the purchase of Lees Lock & Security.

While Sellers is the only employee at his business, he said he’s training someone who may be hired as a second employee. Another employee could start working under the Sellers name in Owatonna.