CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
IndependentsOct 16, 2017
Ask the Watch Guy: 7 Reasons to Replace Watch Batteries
Customer demand, profit margin and winning over competitors’ customers are just a few of them, columnist Jess Gendron writes.
Jess Gendron is a seventh-generation watchmaker and is the owner of Colorado Timeworks, a watch repair service center in Colorado Springs. He can be reached at cotimeworks@gmail.com.
Accepting watch battery replacements can seem like more of a headache than a boon for business, but there are plenty of reasons why jewelers should take advantage.
Here are seven.
1. Customer demand. Never before has the demand for simple watch services been greater. It’s true that watch boutiques in city centers and high-dollar malls are flourishing; however, they do not focus on pedestrian services and do not service watches they don’t sell.
2. Highest profit margin in your store. Imagine offering factory-type service during which you clean the case and band, replace the gasket(s), and reseal as well as replace the battery and charge an average retail of $50 for this. Even if you have to replace every gasket at the astounding cost of 10 cents and each battery at an average cost of 50 cents, that’s nearly a 100x markup!
3. Easy, available and free training. Here is a free video on changing watch batteries like a professional.
4. It’s the easiest way to steal your competitors’ customers. Let’s say you are a chain or department store; virtually all these establishments have a policy that all repairs must go to a central repair facility far, far away.
Since nothing is done locally, even a battery replacement (or band adjustment) takes weeks.
As a general rule, these establishments are more than happy to refer their customers to you (and, if they’re not, please see my past article on how you can encourage them to do so) just so that they don‘t have to deal with a customer calling every two days wondering when his or her watch will be back with its new battery.
5. Service. It’s the only thing in your store that Amazon (or anyone else on the Internet) can’t sell cheaper.
6. Very minimal investment to begin. As we mentioned, you can download a free video on changing watch batteries. The minor amount of tools and equipment needed, if you don’t already have them in your store, would set you back less than $300.
7. Presumed competence. When it gets to be known around town that you change watch batteries in your store, it will be presumed that you are also the local expert on anything else having to do with a watch. So get ready, because this means that you will have a lot of new business, new customers who are educated in watches and have money to spend
on buying and repairing them. Getting ready requires that you educate yourself about watches more than your customers are so that you can keep that new revenue stream coming.
As J.B. Matthews once said: “Unless a person has trained himself for his chance, the chance will only make him ridiculous.”
Your chance is staring you in the face. Take advantage of the profits that others leave on the table. Replace watch batteries, and do them like the professional that you are.
My next article will be on what is needed to set up a professional watch battery changing area. Thanks for reading!
Jess Gendron is a seventh-generation watchmaker and is the owner of Colorado Timeworks, a watch repair service center in Colorado Springs. He can be reached at cotimeworks@gmail.com, and his website is Timeworks.biz.
As J.B. Matthews once said: “Unless a person has trained himself for his chance, the chance will only make him ridiculous.”
Your chance is staring you in the face. Take advantage of the profits that others leave on the table. Replace watch batteries, and do them like the professional that you are.
My next article will be on what is needed to set up a professional watch battery changing area. Thanks for reading!
Jess Gendron is a seventh-generation watchmaker and is the owner of Colorado Timeworks, a watch repair service center in Colorado Springs. He can be reached at cotimeworks@gmail.com, and his website is Timeworks.biz.
More on Independents
The Latest
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
Brought to you by
The Blueprint for Success in Scalable, Personalized Jewelry RetailWith Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
SourcingMay 01, 2024
Opsydia Names New Sales and Marketing Director Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
SourcingApr 29, 2024
De Beers to Move Auction HQ from Singapore to BotswanaSales will be paused while the relocation takes place over the next few months.
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
