Want to Start Business in Luxury Watches
Why is it that special mention has to be made about starting a business in luxury watches and not merely watches? Because the two are as different as chalk and cheese with a host of variables that are distinct to each category. Dealing exclusively in luxury watches will give your business a stamp of respectability and awe that few other businesses can hope to achieve. Starting a luxury watches business is no easy task. Let us evaluate what it implies.
- Experience in this field – You just cannot decide to start off on this venture one fine day. You must have prior experience and a reputation in the watch selling sector. Some luxury watches are like pieces of art and reputation of watch manufacturers who have been doing so for more than a century rests on every unit they produce. So be sure that your application for dealership will be thoroughly scrutinised.
- Setting up the required infrastructure – Luxury watches cannot be sold in a store the size of the local tobacconist around the corner. You must have a sprawling showroom with state of the art furnishings and fixtures and an ambience that reeks of class and sophistication. Rich leather sofas where patrons can relax and ponder over an item that costs a fortune is an example. Sales people have to have a class of their own and must have the talent to convince a client to buy a luxury watch the cost of a small apartment. Get in touch with a top end company for labour hire in Melbourne and they will find the right personnel for you.
- Discreet yet forceful marketing – You cannot sell a luxury watch through door to door marketing – it has to be discreet and not pushy that overwhelms a person by hard sell techniques. Rich clients have their very specific reasons to avoid loud exhibition of wealth and costly purchases. Your marketing should be limited to your website and subdued Facebook posts. Be sure that a potential purchaser of a luxury watch will go to any lengths to track down your showroom.
- Financial strength – This is last but not the least. You have to invest huge amounts in setting up shop and in deposits with the dealers and manufacturers. And luxury watches are not sold in bulk, maybe one a day if you are lucky. So remember, until business picks up and people know that you stock the much preferred brands, your initial capital will be locked way. You should be prepared for slow uptake on your ROI.
On the brighter side, rest assured that once your business in luxury watches is up and running, there is nothing to hold you back from stardom and rubbing shoulders with the high and the mighty and the bold and the beautiful.