A timepiece on our wrist to tell the time anymore—cell phones have fulfilled that role for us—so why do people still wear watches and why do watch brands still exist?
Well, nowadays, wearing a watch is more about fashion, style, and social signaling. So if you’re looking for a business to start where you can really focus on creating a memorable brand that your audience can connect with, consider starting a watch brand.
Start Your Own Home Watch Business: Step By Step In Just 30 Days: Wallin, Craig: 9781655268090: Amazon.com: Books - How To Start A Watch Business From Home title=Start Your Own Home Watch Business: Step By Step In Just 30 Days: Wallin, Craig: 9781655268090: Amazon.com: Books style=width:100%;text-align:center; onerror=this.onerror=null;this.src='https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcT29EIOxuwSv1MuYMmVcwEh5_zyI0-cHZaGfRBvXAzTGG-efJPQv4asKzHjOC6k-6HRYpXh3V2GNDY&usqp=CAU&ec=48600113'; />
If you don’t know much about watches other than that they tell the time, then you’re going to need to do some deeper digging before you start your brand.
How To Start A Home Watch Business
In this post, we’ll walk you through the steps of starting a watch brand even if you don’t really know that much about watches. Plus, we’ll highlight some of the top direct-to-consumer watch brands on the market right now and analyze their branding strategy to see how they made themselves stand out in such a saturated market.
People buy watches because they want something to wear that signals to others that they’re sophisticated, classy, fashionable, sporty, and/or that they’re knowledgeable and appreciative of high-quality goods.
This means that you’re selling a product to consumers who have a disposable income to spend, and they value high-quality goods, which is a lucrative market to sell to.
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Now, this doesn’t mean that your watches have to be super high-priced like Rolexes, or that you only have to cater to a luxury market of consumers, it just means that your products have to appeal to people who
This gives you a lot of freedom to build a dynamic brand, so if that’s something that appeals to you, it’s a good reason to start a watch brand.
Alternatively, if you have an interest in watches and a passion for their craftsmanship, that’s also another good reason to start a watch brand. Many watch brands were founded by people who had a personal interest in watches before they started their own brand, so it’s possible to lead this kind of a business fueled by your passion.
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And finally, the watch industry is a lucrative one. Revenue in the luxury watches industry amounts to over $23 million dollars in 2020 and the market is expected to grow annually by 6.2%, according to Statista. So if the flexibility to create a premium brand or a passion for watches wasn’t enough, then knowing that it’s a stable and growing market should be.
Sure, you might know what kind of watch styles you like or don’t like, you might know some of the basic terminologies, you might even have a little more advanced knowledge than the average person… But that
Firstly, watches are made up of a lot of different pieces so it helps to know the basics before you go any further.
Bonita Neighbors Build A Home Watch Business From Scratch
It’s also important to know the different types of watches that exist, so when you’re creating your watch brand you’ll have an idea of what kind of watches you want to make and sell.
Each watch type has a different function which usually impacts the features they have, how they look, how they’re made, and who uses them.
If you’re serious about starting a watch brand, you should learn as much as possible about watches—especially the types of watches you plan to sell—so you can find the right supplier to work with and ask them the right questions.
Watch Collecting, For Passion And Fun
To start a watch brand, you need products to sell! This means that you need to find watch suppliers or learn to make watches yourself.
Watches are small and their individual pieces are finicky, so putting one together takes some practice and finesse. For this reason, it’s in your best interest to learn from a pro and take your time learning the art of watchmaking before you actually sell any of your creations to customers.
The Learn Watchmaking course we mentioned above focuses specifically on making watches yourself, so if you want to make your own watch products, that’s a good place to start.
How To Start A Watch Business
The main advantage of making your own watches is that they’ll be unique to your brand which matters to watch wearers and collectors who value craftsmanship but the main drawback is that learning how to make watches comes with a big learning curve.
If you don’t want to make your own watches by hand but you also aren’t quite ready to manufacture watches, another option is to dropship watch products.
Dropshipping watches enables you to not have to purchase inventory upfront, so it’s a more accessible way to start a watch brand on a budget.
Small Business Success: Vortic Watch Company
You can find a supplier of watch products (like the watch suppliers listed on Spocket—check out our Spocket Review here) and list their products on your site. Once a customer places an order from your shop you can forward that order to the supplier and they’ll ship the order out to your customer. It takes a lot of the pressure off you to run and manage the technical parts of your business, plus you don’t have to put the money upfront to make your products or purchase any inventory.
The main advantage of sourcing watch products from dropshipping suppliers is that you can get your business set up quickly on a small budget but the main drawback is that you have little control over how the watches look, you won’t be able to add your own branding to the watch, and the profit margins will be slim.
If you want to sell watches but don’t necessarily want to sell your own brand of watches, you can start a boutique that carries several different types of watch brands. Many watch brands have wholesale programs and if you meet their criteria, you can purchase stock from them and sell their watches through your own site.
What You Need To Know To Start A Luxury Watch Business
Starting a watch boutique can also be a great way to transition into selling your own brand of watches. Selling popular watch brands that consumers already know and love can bring traffic to your site, and once you have steady traffic and the funds to manufacture your own watches, you can then sell your own. Many brands start this way!
The main advantages of wholesaling watch products are that you don’t have to put the time and funds into manufacturing your own watches and you can attract consumers to your store more easily because they’ll already be familiar with the wholesale brands.
The main drawbacks, however, are that you’ll have to purchase inventory upfront from the wholesale suppliers and you’ll be bound to their resale rules and conditions which could limit you and your business in various ways.
Using The Best Tools For Your Home Watch Business
Private label suppliers create the watch product and then they’ll put your branding on it, without you having to actually design the watch yourself. This is a little bit of an easier process than manufacturing your own watch because you don’t have to draft up the designs or pay for any special molds or castings but you still end up with a watch product that looks like you’ve manufactured it from scratch.
The main advantage of private labeling is that you get watch products with your own branding on them without having to put in the time, effort, and funds to actually get a watch manufactured.
The main drawback is that you get little say in how the watch looks. You might be able to find a private label supplier who can make small changes to their product so you get what you’re looking for, but overall, you’re just getting your branding put on their product, however they choose to manufacture it. This also means that your product is not unique and that there will be other merchants selling it.
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This option gives you the most freedom and flexibility in how your watches look and function, plus you usually also get the best profit margin earning potential because you get your products straight from the source.
By manufacturing your products, you get to choose exactly how they look, what functions to include, what functions to exclude, and you get to put your own branding on them. You can create a completely custom product that performs exactly how you want it to which is ideal to help you stand out in this saturated market.
The main advantage of manufacturing your products is that you get complete and total control over the process of making them but the main disadvantages are that you’ll have to purchase your inventory upfront, you’ll likely have to meet your manufacturer’s MOQs, and you may have to fund new molds or castings to make your customizations.
Five Tips For Building Your Watch Collection
It really depends on the type of watch you’re trying to make, and it also depends on the mechanisms and technology you use in your watch. This is why it’s important to know as much as possible about how watches are assembled and the different options that exist for each part of the watch so you can choose the best options for you and your desired outcome.
If you want to sell cheap but not have the watch seem too cheap, you choose a Miyota movement, or maybe a Seiko, a catalog case and crystal, maybe customize the back and crown and
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