The recent emergence of smart watches might make traditional watches seem a thing of the past. In truth, standard watches have proven themselves to be timeless. When franchising with a business like Time After Time, sales of standard watches are just one aspect of a watch franchise; repairs and services not only provide greater profit margins, but also greater volume.
The need for watch services ticks on steadily. Some watches, like family heirlooms, will inevitably encounter a problem that needs to be fixed. For every sale, there is a need for future battery replacements and, potentially, quick repairs. Consumer demand for standard watches, whether a classic, luxury timepiece or a stylish upgrade for your wrist, remains high.
Watch Sales at Franchises
On their face, watch franchises like Time After Time are seen as primarily sales-driven. An initial sale is, in fact, crucial to building customer loyalty. Time After Time is an authorized retailer of over 40 brands, from Gucci and Fossil to more budget-friendly options. A diverse, broad portfolio of brands allows an equally broad range of customers to build a relationship with a watch retailer, offering not only the potential for repeat sales but repeat business for services.
To build your inventory and keep your offerings ticking, franchising with an established retail franchise like Time After Time means existing vendor relationships. This makes it easier for our franchisees to rotate inventory to ensure customers have constant access to the latest trends and styles.
Services and Repairs
Building customer loyalty and brand recognition through sales is a superb strategy, yet repair services offer an even more lucrative profit margin. For instance, battery replacements are quick fixes and large contributors to driving a watch franchise’s bottom line. As an added service, Time After Time offers resealing of water-resistant watches at a much lower rate than watch brand service centers.
For more complex repairs, our retail and repair store franchisees have access to the TAT Service Center, which offers better rates and faster turnaround times than brand service centers. This helps drive repeat business as customers not only trust Time After Time for complex repairs, but also who recommend your fast, skillful, and affordable service to friends.
The Bottom Line
Despite the demand for smart watches, customers still seek out traditional watch brands. They’re looking for style and quality, and they find that at Time After Time retail stores. Standard watch sales remain relatively steady, making an investment in a watch store a good decision. If you’re interested in franchising with an established and trusted brand like Time After Time, contact us to learn more about our available franchise opportunities.