Earlier a moribund business, it has now came snapping back to life with its splendid vigor and vitality. The demand for watch repairing business is at its all-time high.
The importance of watch repairing business is just like mobile repairing services. Just like phone, buying watches is also people’s one of the prized possessions. Majority of the population belongs to the middle class income group. This class of people is price sensitive. If they are investing in something then they want their investment to last long.
New types of watches launches every now and then. There are so many branded watches that are quite expensive. They comes with warranty and guarantee for certain time period but after that period is over, the only refugee is the watch repairing business.
It is a financially attractive business opportunity to engage in repairing watches business.
Table of Contents
Skills required
In order to be run a successful repairing watches business, one must have an experience of watch repairing. One should know how to dismantle, repairing, reassembling with maximum care and watch cleaning services, etc. You must have seen the world best clock and watch repair services providers can swiftly and quickly dismantle the watches, repair the default and delivers timely services.
It is important that you understand your customer’s demands for achieving customer satisfaction. You will be required to offer number of services like watch cleaning services, wrist band repairing, glass repairing, and replacement of faulty part, dial replacement, cork repair, etc. It is of utmost importance that your remain updated with the new technique that are employed in watches and wall clock such as digital watches, atomic wall clocks, to make your watch repairing business relevant in the market.
Cost involved
Skills are prerequisite quality after fulfilling that requirement, next important requirement are finances. The business of repairing watches can be started with small capital investment of around 6-7 lakhs. You will be required to set up a local watch repair shop in the market area. This will involve renting cost, then you need invest some money in making your local watch repair shop looks furnished and well maintained. You have to purchase the spare parts for repairing watches. Other expenses will involves utility cost.
Legal entity
Make your watch repairing business a legal entity by registering your brand name and your brand logo trade mark registered. Next thing is you need to register for various state tax and GST. Also get your business insured to avoid unforeseen circumstances.
After all the legal requirements are fulfilled, now you can easily set up your business. As you start running your watch repairing business, it is important that you keep a track of what are your expenses and what are your revenues?
To have a clearer track, it is recommended that you open up a separate bank account for your business of repairing watches. It helps you in guiding as to where be you spending more and how you can increase your revenues for running world best clock and watch repair business.
Other requirements
For smooth running of the business operation, one should ensure the continuous supply of repair parts. It is important that you source your repair part from the dealer that helps you maximize your profits.
Promotion
For your promoting your watch repair business, you can build your business website that will tell viewers about your business well in advance before you could actually come in their contact. Using social media platforms to spread the word about your business is also a good promotional technique. You can take advantage of social media’s already established user base for your benefit.
Stay focused and updated with the current trends. Try your best to maximize customer’s satisfaction to gain their long lasting allegiance with your business of repairing watches.
