Start a Wrist Watch Store | Wrist Watches Showroom Business to Earn Money

If you want to start a wrist watch store, a great option would be an online business. With a business plan to guide you every step of the way, you can never go wrong.

In fact, you can stand out in the competition and you can sell men’s and women’s wrist watches. Choose the brands that you want to sell and a reputable wholesaler/dealer now.

Studying the Competition

Do you love watches? If you do, you can start your own wrist watch store. There are so many watch brands to choose from like Casio, Fossil, Citizen, G-Shock, etc. and you can sell them all without maintaining an inventory at home! One way to do that is by owning an online wrist watch store. The online market is quite competitive and so you must create a business site that can rank high in search engines. Before you take any step further, you must create a business plan. The plan will usually start with the market study. You will need to study the competition and determine the ‘needs’ of customers that you should meet.

By identifying the weaknesses of your competitors, you can create a business that will surely stand out among others. With less than $1,000, you can already start a wrist watch store online. With a computer and internet connection, nothing is impossible! The business plan will guide you accordingly. You will also need to look for a reputable wholesaler or supplier that can provide you with the items you want to sell. Pick a supplier that drops ship items to customers so that you no longer need to maintain inventory.

Start a Wrist Watch Store for Men and Women

By selling men’s and women’s wrist watches, you can sell a wide variety of watches that can meet the needs of your target market. You can even sell vintage watches that can attract the attention of watch collectors. Inquire about the rules and regulations regarding an online business in your place. You might need to secure the needed license and permits before you can operate legally. Get the word circulated in your local area by talking to you family and friends. These people can help you in spreading the word about your wrist watch store. After all, word of mouth advertising can be powerful as well especially when used properly.


The business plan should also contain info about the different ways to advertise your business. You can make use of business cards, flyers, PPC ads, banner ads, and many others. As long as your business site contains relevant content and you make use of the targeted keywords, you can generate a lot of traffic and hopefully convert them into real customers. With your own list of customers, you can easily contact them for updates on your store. So what are you waiting for? Develop a business plan now and have a road map that you can use when establishing your business.

A reliable timepiece is a necessary accessory for the professional or casual --- yet sharp --- dresser. Watches are popular with both men and women, giving the small-business owner a wide, eclectic group to sell to. Selling such personal items like watches requires a combination of product knowledge and sales ability. There are many venues for selling timepieces, but spreading your business and products too thinly can cost you. Focus on targeting a niche market then learn how to mine it successfully.

Step 1

Select the brand and watch models you want to sell, based at least partly on which venue you intend to use to sell your watches. For example, if you plan to sell watches at flea markets only, don't expect many customers looking for high-end watches. If you plan to sell in a mall store, you could choose expensive watches. But if you plan to sell at a mall kiosk, your offerings should be less expensive.

Step 2

Contact watch makers and request information on how to become an official watch distributor. Each company has its own set of standards, but you need acceptance in order to offer the manufacturer's warranty and have access to the latest watches from your preferred product line. For example, some watch wholesalers allow only brick-and-mortar stores that have been in business a specific period of time to sell their most exclusive products. You may also decide to sell used, limited edition or specialty watches. These types of watches are regulated less by their makers, and some not at all.

Step 3

Set up your store. You can take your small business online and sell watches through the Internet using close-up photos of your available watches. Selling from a brick-and-mortar store or selling by consignment through jewelry stores is another option. Some watch sellers set up sales booths only at fairs, expos and trade shows. Your small business may have more than one avenue of income.

Step 4

View the competition and take notes. Note the models being sold, the prices and how they are displayed. This helps you ascertain the needs of the local market. Also find out what types of watch warranties or service plans the dealers are offering. If you've decided to sell for a franchise, warranties should be part of your contract price.

Step 5

Connect with finance companies that finance jewelry for customers. Some watches are pricey, and offering financing for clients is a plus for a small watch business. Ask the finance company to send you the necessary applications or computer login information to streamline the financing process. You want to have everything available and ready for your customers.

Step 6

Set the prices for your watches, keeping the wholesale cost and the prices your competition uses in mind. Your price should cover your wholesale cost but also be competitive with others. If you can set your price at a slightly lower number than the competition, this may help you make the sale. Also, figure in any warranty costs. If you offer a 30-day or one-year warranty, you'll need to add 2 percent to 5 percent to the cost of the watch to cover the warranty. If you've gone with a franchise, the manufacturer covers this cost.

Things Needed

• Notebook
• Pen or pencil
  
  
  
  

Tip

• If selling used watches, get a third-party grader or authenticator to verify the that watches are genuine and not knockoffs.

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  References (5)

• Wall Street Journal; "The Art of Selling Expensive Watches;" Christina Binkley
• Sell Us Your Jewelry: Important Things Consider
• eBay: Jewelry Selling
• Start a Wrist Watch Store
• Wrist Watches Showroom Business

About the Author

As a former senior sales director with Mary Kay and the co-owner of a renovation company, Monica Patrick has firsthand knowledge of small business operations. Besides start ups, she has extensive skills in recruiting, selling, leadership, makeup artistry and skin care.

Photo Credits

• Wrist Watches Showroom Business

• Wrist Watches Showroom Business

• Wrist Watches Showroom Business