Authorized dealer

[Gtpmartin]

Hey all!

I have a slightly different question in the watch world. 
I have been repairing watches, flipping them etc and I want to possibly take it to the next level and start a watch/jewelry store. I’m thinking I want to start with Bulova and become an authorized dealer. Can anybody give me any Insight, good or bad? When I had talked to them, they said I just needed to send over my venders license, which seems to be very easy to get in Ohio. I am wanting to do mostly online sales. Is it worth it? Is there money to be made as an authorized dealer? 
 

thanks!!

[Paul80]

Taking the obvious approach first, how sellable do you think Bulova watches are in your location, what research have you done showing there is a demand for this brand that is not being met already by their other dealers.

As for making money, how keen are their trade prices, what percentage do you plan to make through your markups, do Bulova dictate minimum or maximum prices you are allowed to charge in their terms of business.

Do you plan on holding stock at your expense or just act as a drop shipper and order from Bulova as you sell a watch.

There are an awful lot of risks involved in starting and running a business, do your research well and good luck if you do go ahead with it.

[Gtpmartin]

4 hours ago, Paul80 said:

Taking the obvious approach first, how sellable do you think Bulova watches are in your location, what research have you done showing there is a demand for this brand that is not being met already by their other dealers.

As for making money, how keen are their trade prices, what percentage do you plan to make through your markups, do Bulova dictate minimum or maximum prices you are allowed to charge in their terms of business.

Do you plan on holding stock at your expense or just act as a drop shipper and order from Bulova as you sell a watch.

There are an awful lot of risks involved in starting and running a business, do your research well and good luck if you do go ahead with it.

Thanks for your reply!! I 100% agree with you. To answer some of your points-

As far as demand in just my area- I can’t say there’s a ton of demand that’s not being met. But I also can say that about many brands, not just bulova. This is mainly the reason I would go the online store route as opposed to a physical location in my area. 
 

as far as percentages and min/max prices- I have talked to Bulova a few times and they will not give me an answer as on really anything UNTIL I supply them with my venders license. I have tried and tried to research anything I could on bulova as far as being a reseller and I cannot find any information on it. Nowhere can I find answers to any of those questions. Mainly the reason I’m reaching out on here in hopes somebody can shed some light on it. 
 

as far as stock- I think I would start with a low inventory on hand. Maybe start with 5 of the “most popular” and gain some traction and then keep growing. 
 

I would love to move into other brands as well at some point. The reason I’m starting with bulova is it’s the first “nice” watch i have ever purchased and the brand I’m extremely familiar with. Also their price point seems to be pretty on par as far as being able to move inventory quicker in compared to other luxury brands. 
 

again, thanks so much! 

[grsnovi]

4 hours ago, Gtpmartin said:

I think I would start with a low inventory on hand. Maybe start with 5 of the “most popular”

Unless they have a minimum...

How much does it cost you to get a license to have so that when you begin discussions and they ask for that you can get answers that wouldn't be supplied to the general public?