If you’ve considered investing in a timeless industry, you may have explored various jewelry business opportunities. Whether customers are commemorating a special occasion, purchasing a gift “just because” or seeking repairs for their beloved pieces, the jewelry market sees plenty of activity. However, if you’re looking to start a business in a truly resilient sector, learning how to open a jewelry store wouldn’t be the most worthwhile use of your time or resources.
While jewelry business opportunities are prominent in the marketplace, watch retail and repair concepts like Time After Time are better positioned for long-term business growth.
A fashion franchise concept needs steady business to thrive
Jewelry purchases tend to be seasonal or occasional, but watch sales occur year-round. More than fashion accessories and status symbols, quality timepieces carry enough functional value to become long-term investments. Between watch and accessory sales and routine repair services, the average U.S. household spends $178 on watches annually. Fashion franchise owners in this particular niche can see more steady business than those who rely on activity in the more sporadic jewelry market.
It’s tough to learn how to start a jewelry business without timeless products
Part of learning how to open a jewelry store involves learning what to do with stale inventory. After about a year, even the most stunning pieces begin to depreciate in value, driving jewelers to discount product, ramp up commission incentives or return items to vendors. Watches and watch accessories, on the other hand, are easier to sell, as shoppers purchase timepieces for both practical and aesthetic reasons. Enthusiasts may return season after season to purchase the latest styles from top fashion brands. Overall, watch retail and repair business owners are more likely to enjoy repeat business and greater inventory turnover.
Jewelry business opportunities seldom resonate with potential lenders
Those who invest in jewelry business opportunities may have a tough time securing adequate financing, due to the short-lived nature of their inventory. Potential lenders want to know that a business is well-structured, profitable and built to last. Knowing that jewelers’ inventory ages with time, lenders may be more reluctant to sign on and assist. Watch sales, on the other hand, are steadier. Fashion franchise owners with Time After Time have the benefit of our ongoing assistance as they seek financing, as well as the backing of our reputable brand and top-tier inventory that will never go out of style.
Wondering how to start a jewelry business? See greater potential returns with Time After Time
Now is not the time to start a jewelry business. The growth and stability of the watch industry points to fashion franchise concepts like Time After Time as a more worthwhile investment. Are you interested in learning more about our one-of-a-kind watch franchise opportunity? Speak with a member of the Time After Time team or fill out the form below to get started today!