Business Overview

Watch repair shops fix watches, repair batteries, repair watch faces, and overhaul inner watch mechanics. Offering simple and complex repairs alike, watch repair shops can fix mechanical and digital watches alike. A lot of watch repair shops have watch parts, too. Some may also sell watches.

Who is this business right for?

The ideal watch repair shop owner loves watches. They also have a passion for clockmaking, watchmaking, and the history of watches. Watch repair shop owners are good with people, and they also honor the world of repair.

Because watch repair is very specific, general repairmen may not be fit for the watch repair business. Those who’re experienced with repairing small mechanical items, however, may find watch repair to be incredibly fun. Those who enjoy collecting watches and clocks, too, may enjoy the art of watch repair. As a business owner, a watch repair shop owner will need to have a good handle on management, accounting, and marketing.

What happens during a typical day at a watch repair business?

A watch repair shop owner will need to study the art of watch repair. They need to constantly make their skills better, learning about band repair, cork repair, face repair, and parts replacement.

They should also make their workspace incredibly efficient. A watch repair shop owner will need to catch loose watch pieces, organize their workspace, and organize their tools. Over time, a watch repair expert will invest in better screwdriver sets, part trays, and watch components.

Other responsibilities include attracting customers, extending services to new clients, offering well-priced repairs, and more. From a management perspective, a watch repair shop owner will need to collect payments, manage employees, offer competitive services, and market to the local community.

What is the target market?

Watch repair shops make the most money from watch and clock enthusiasts. Customers with designer, collectible or otherwise rare watches are valuable. They often respect the art of watch and clock repair. They may also be return customers, if they’re sporting a collectible. These customers also return often for watch cleaning. While a watch repair shop may make most of its profits from watch repair, it can make extra money by offering watch cleanings.

How does a watch repair business make money?

A watch repair shop makes most of its money by repairing wristwatches. It can also make money by repairing pocket watches and clocks, however. A serious watch repair shop owner can make money by selling individual parts. They can even become a trusted watch parts provider.

Some watch repair shops may offer routine watch cleanings. By using a specialized machine, shop owners can ensure safe, effective cleanings after any tune-ups have been completed.

What is the growth potential for a watch repair business?

Most watch repair shops are local. Some, in fact, only exist in shopping malls. A watch repair shop with a lot of success, however, can easily become a local hotspot for watch enthusiasts. For this to happen, though, the shop needs to offer amazing prices. It also needs to be effective with a variety of watch repairs. A watch repair shop which offers additional watch parts and cleaning services has a higher growth potential.

It’s possible to become a multi-state provider, but a lot of customers prefer local settings. E-commerce watch repair shops also exist. These shops receive watches by mail, repair themm and return them within a certain amount of time. If you want to expand, consider becoming a digital provider. It’s a lot cheaper than becoming a national provider, and it’s a very popular modern job.