In a previous article we discussed creating your own watch line. Very seldom do I speak to jewelers who have committed to a watch line — High-End or otherwise -- that can justify the expense.

Let's say you carry a mid-price-point Swiss watch line. Certainly, there will be models in that line that are hot sellers. Unfortunately, much of what you are forced to carry as a part of the watch line commitment will be “dead dogs”. It's not unusual for these “dead dogs” to take years (literally) to sell -- if at all.

Add to this the apparent lack of loyalty of some watch companies as evidenced by the fact of many traditionally “jeweler only” watch lines now turning up at discounters, buyers clubs, the ever popular 75% off sales, and not least of all, the Internet.

So when we add it all up, most retail jewelers have little reason to carry a watch line, other than to have bragging rights and having something to put in the watchcase. But for those of you who have customers who “buy branding”, there is another solution.

What savvy jewelers use is “outsourcing”. Outsourcing is achieved by finding watch dealers who re-sell watches to jewelers without asking for the commitment of carrying an entire line.

Let's say that Tag-Heuer is a popular watch in your market area, and worse yet you cannot purchase the line because they have a direct-market retailer in your area. Finding a re-seller is a great way for you to compete without the full-blown expense of carrying the line. Imagine being able to order just ONE watch when YOU need it, and not being forced by a watch company to place orders you don't need and can't sell. Sounds good doesn't it? I know jewelers who use this method to their full advantage.

Here's how I have seen it done successfully. Have just one case in your store for watches. In that case, place a mix of one ladies' and gent's each of the following watch brands.

Tag Heuer
Omega
Rolex
Cartier
Seiko Kinetic
Citizen EcoDrive
Breitling

If there is a particular watch brand that is not mentioned above that is in demand in your area, include that brand in the watch case, too. Also in that case, place a small easel sign that says, “We have resources for all major watch brands. If you don't see what you are looking for, please ask.” This will serve as a market test for your store that will not cost you the expense and time of having an entire watch line.

Your turnover on inventory will be great! And you will find that many times your customers will tell you exactly what they are looking for, and give you time to get it.

Don't forget-- customers aren't always buying price. More times than not, they are buying availability. Someone who wants a James Bond Omega, wants a James Bond Omega, and the jewelers who carry the Omega line probably ran out of them long ago, if they were lucky enough to have gotten any to begin with. So there is no reason to discount on these highly desired watches. You just need a resource to get them.

Here are some sources for your “remote inventory”.

INVENTORY ADJUSTERS, INC.
3437 E McDowell
Phoenix, AZ 85008
602/278-5966
Cheryl Carlson
www.inventoryadjusters.com

ALL ABOUT TIME, INC.
Dania, FL 33004
954/964-7705 [FAX: 954/894-9912]
Suzanne Knohl
watchinfo@aol.com

SERGES & CO.
3841 W. Broward Blvd.
Plantation, FL 33312
877/973-7437 [FAX: 954/583-6559]
Chip Hurd
chip@watcheslikenew.com http://www.watcheslikenew.com

About the Author

Dan Gendron, Certified Master Horologist, is a sixth-generation watchmaker, and the world's foremost instructor of Watch Repair for Profit. Hundreds and hundreds of retail jewelers and others have learned to make Thousands of Dollars Extra each year, or have found a new, lucrative career, using Dan's simple, step-by-step learning method for watch repairs.

Dan offers One-on-One training classes in Quartz Watch Repair, Basic Mechanical Watch Repair, and High Grade Watch Repair.  Learn from the world's foremost instructor on Watch Repair as a Profitable Part of the Retail Jewelry Business.  His website is www.watchfix.com.