Luxury watches have always been considered a status symbol, and to own one is the mark of a man or a woman of means. If you are a luxury watch expert, and you want to set up your very own luxury watch company, you should know that it is not as easy as you would think. It is not only a competitive arena, it is also difficult to make an impact with watch collectors. Remember that they have seen their fair share of luxury watches. So if you are going to set up a luxury watch company, you should know what you’re doing. Here are 7 ways to set up a luxury watch company.
1. Choose a Great Name
When it comes to creating a brand, the name is extremely important. Remember that aside from the quality of your product, potential buyers will also want a product that sounds expensive and classy. So make it a priority to come up with a great company name.
2. Create a Business Plan
Aside from.choosing a suitable name, it is also important that you make a competent business plan. When you set out to make a business of your very own, you should know that it won’t always be sunshine and rainbows. By having a business plan,you will have a set guide on how to run your business.
3. Come up with a Unique Design for your Watches
This is where your love for watches comes into play. Each luxury watch company has a certain design. A “look” that sets them apart from the competition. If you want your products to make an impact with your potential clients, it is very important that you come up with a unique design for your watches. Take the time to brainstorm on these designs, don’t be pressured to release a new line right away. Remember that first impressions last, so it is imperative that you take your watch’s designs as seriously as possible. You could even hire a specialist if you need a second opinion.
4. Invest in quality Materials and Equipment
Aside from the design, yet another factor to success when it comes to creating quality luxury watches is the materials used. If you want your products to be highly regarded, you should resist the impulse to use cheaper materials. Remember that if you use cheap building materials then the end product is also inferior.
From a material standpoint,you should invest in quality materials such as stainless steel, platinum, rose gold, ceramic,carbon fiber,bronze, and titani for the body.
You could also use crystal materials such as scratch-resistant sapphire,acrylic/plexiglass, and mineral crystals. If your watches are installed with a leather bracelet, you should use high quality leather such as horse or calf leather.
Aside from your material,you should also invest in equipment that will speed up the process. One effective way to speed up your assembly lines are molds. Companies such as RYD specialize in injection mold making suited for various needs. With their help, you’ll be able to supply your production lines with top quality molds, which will allow you to create the key components of your luxury watches in a matter of minutes.
5. Hire the Best Craftsmen
While you should make aspects of your luxury watch production line more streamlined, it is also important that you hire the best craftsmen to make your luxury watches. Remember That luxury watches are considered luxury watches, because they are handcrafted. So each and every piece should lovingly be worked on by an expert. That is one of the key selling points of a luxury watch. When you hire craftsmen, it is important that they have prior experience with creating luxury watches.
6. Market your Company Effectively
Months before you release a line of luxury watches, you should already be marketing your products. This is an effective way to create anticipation for your products. It is also a great way for you to create a strong demand for your luxury watches.
One of the best things about marketing nowadays, is the presence of social media. Back in the day, you had to spend a small fortune in order to market your company. You had to pay advertising companies to market your products through more traditional media such as newspaper ads and TV commercials.
Luckily, nowadays you could market your product through social media. It is one of the most widely used media forms in the world. First and foremost, your company should have an exemplary company website. It will act as your main marketing platform.
Aside from having a company website, it is also imperative that you utilize social media sites such as Facebook, Twitter, and Instagram. These sites are considered some of the top social media sites in the world, and they will surely help expand your company’s reputation.
7. Quality is Key
When it comes to making luxury watches , quality is of the utmost importance. Remember that your clientele is willing to spend top dollar to have your product, so they should get their money’s worth. Make it a part of your company’s practice to check the quality of each of your watches. Have each and every one of them undergo strenuous testing. By doing so, you could rest assured that any product you release will be of the best quality possible.
If you are going to set up your very own luxury watch company, you should have a strategy. Remember that you will be facing a lot of competition, and if you want your company to do well, you should find a way to set your company apart from the crowd. With these tips, you’ll be able to create a luxury watch company that is a match for any competition.it is not as easy as you would think