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Looking at retail. I would like to make my own but definitely that is long way down the line........
No offence to anybody but you need to study the needs and demands of the customers and your own financial goals. While it would be nice to carry brands from a certain country and meet the 'pent up' demand of watches of that particular country, it may not be financially viable in the long run as you may need to have holding power and monies tied up in stock is not what you want unless you have lots of moolah and don't mind. Additionally, you need to establish if these companies will let you have the stock on consignment or do you have to pay upfront in full or even a certain percentage. What about marketing, display cabinets, etc? After sales service? Do they have or do they expect you to provide? Lots to think about.
Definitely do not see any issues with what you raised. In fact, they are points that determine the viability of a business. I have already worked out a market demand, outlet design + display (have a design direction that is not expensive but establishes a brand identity). I am now moving towards dealing with the manufacturers which is why I was hoping that there would be some members here with background in the timepieces business and are willing to guide me by offering me some advice. Before I approach the manufacturers, I was hoping to understand what is prevailing industry practises with regards to stocking (consignment), credit terms, after sales support and also marketing support. This is obviously a key portion of the business as then I can calculate my holding power and also financial backing required. Any sifus willing to take share some wisdom? None the less, thank you very much for looking out on my behalf. All greatly appreciated.
Quote from: pucksz on March 27, 2012, 07:01:37 PMDefinitely do not see any issues with what you raised. In fact, they are points that determine the viability of a business. I have already worked out a market demand, outlet design + display (have a design direction that is not expensive but establishes a brand identity). I am now moving towards dealing with the manufacturers which is why I was hoping that there would be some members here with background in the timepieces business and are willing to guide me by offering me some advice. Before I approach the manufacturers, I was hoping to understand what is prevailing industry practises with regards to stocking (consignment), credit terms, after sales support and also marketing support. This is obviously a key portion of the business as then I can calculate my holding power and also financial backing required. Any sifus willing to take share some wisdom? None the less, thank you very much for looking out on my behalf. All greatly appreciated.The best is to approach the local distributors and talk to them. However you need to appreciate that many brands are slowly moving into having their own boutiques as they can control stock, prices, discount, quality of service and even after sales service. You will also need to appreciate certain brands will insist on their own setup and display and usually they will pay for it (but not always). You need to establish those upfront with the distributors. As for the stock and amount of discount you will get depends on your business case and how much you can move in a year. These will have an impact on stock allocation, discount given (to you by the distributors), frequency of display updates, support for functions etc. Since you are looking at on-line business, you will need to talk to the distributors as some brands do not like to see their watches being sold new on-line. It does have an impact on their other AD and even their boutiques.
They r untapped marketRed army is doing well for lower end German n Russia brandWWii who sell small brand also growing So not every1 buy watches like those here in MWFSuccessful business is when u can do something or sell something other don't sell,other can't do, other never try, other don't want to do/sell.... If Steve job never dream, I'm sure v won't hv iPhone!!!
