I am considering establishing a watch resale business and would be grateful for any guidance or advice you may be able to offer. As I embark on this venture, I am eager to learn from experienced individuals and gather valuable insights to ensure the success of my enterprise. Your tips and recommendations would be greatly appreciated.
Posted by DepayKartel
7 Comments
Consider building a strong online presence and leveraging social media to reach potential customers.
Have you written a formal business plan?
I don’t have specific experience with watch reselling, but I think some general principles of successful businesses still apply here! It sounds like you’ll need to learn how to authenticate watches, know their value, and then how to find them at a lower price that you can still earn a profit off of.
Knowing your customer base and what they want is also always incredibly important. It might be worthwhile to start with a small and manageable inventory, and test what sells. Do your customers prefer luxury or affordable options? Vintage or contemporary styles? Men’s or women’s watches? By putting out a variety and seeing what sells, you can begin to pinpoint exactly what your customers are looking for, and then target your inventory towards that.
Also, as you’re already doing, keep reaching out to others in the industry and never stop learning. Nothing beats experience and mentorship. Good luck – setting up a new business is always super exciting, and it sounds like you’re on the right track!
I resell shoes what I’ve learned probably goes for watches too. Don’t worry about the quantity just the quality, build relationships with other resellers doesn’t have to just be watch resellers, build a reputation with your clients gain references and remember the watches won’t sell immediately.
Definniely make sure the quality of the watches are good
Research luxury watch market trends and authenticate products to build customer trust.
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