Starting a Business
How to Start an Antique Watch Dealership
Ready for a change? Why not open an antique watch dealership? Make sure you design your business with some sustainable competitive advantage in mind.
We share a number of pragmatic recommendations on what it takes to start an antique watch dealership.
Characteristics of a Good Antique Watch Dealership Business Plan
Your antique watch dealership's business plan should be tailored to your business's unique traits and goals. Yet good business plans universally hit on sound business plan elements:
- Mission Statement � A foundational statement of your company's direction and strategy.
- Goals & Objectives � A list of mile markers on your antique watch dealership's road to success.
- Financial, Marketing & Action Plans � Specific plans that describe your business environment, demographic targets and quantitative estimates.
Don't Ignore Competitors
Before you open an antique watch dealership in your town, it's a good idea to find out how strong the competition is. Use the link below to generate a list of competitors in your area. After following the link, enter your city, state and zip code to get a list of antique watch dealerships in your area.
It's important to be aware of what the competition is doing. Take the time to visit the competition to properly assess their strengths and weaknesses.
A Good Source of Advice
If you are interested in starting an antique watch dealership, it's essential that you learn from folks who are already in business. Local competitors are not going to give you the time of day, mind you. What's in it for them?
But, a person who owns an antique watch dealership in a location that is not competitive to you may be more than happy to give you a few tips, after they realize you reside far away from them and won't be stealing their local customers. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
So, what can you do to find an owner of an antique watch dealership in another community?
Simply, try our helpful link below, type in a random city/state or zipcode, and start calling.
Three Arguments for Buying an Antique Watch Dealership
It's almost always preferable to buy an antique watch dealership than to pursue an antique watch dealership startup.
You'll want to conduct a comprehensive due diligence process, but here are three arguments why you should think about buying instead of a startup.
- Initial Revenue. Startups struggle to bring in revenue right out of the gate while existing businesses usually have a steady stream of income.
- Operational Efficiency. When you're shopping for an antique watch dealership, be sure to look for ones that have all of the necessary processes and systems to ensure seamless operations from your first day of ownership.
- Capital Acquisition. Lenders, investors and other funding sources almost always prefer business purchases to startups.
Is Franchising the Right Option?
The probabilities on your surviving in business zoom upwards if you become a franchisee and benefit from the prior work of others and their lessons learned.
If you are thinking about opening an antique watch dealership, you should assess whether purchasing a franchise might alleviate your startup process.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
Entrepreneur Interviews
These interviews should be of interest to you.
Related Articles on Starting a Company
These additional resources regarding getting started as an entrepreneur may be of interest to you.
Buying vs. Starting a Business
Share this article
Additional Resources for Entrepreneurs