Retail business can be a challenging one to enter into but if you have the tools and support, then it is easier than you can imagine. If you have wanted to venture into the retail industry, the Time Galerie watch shop can be one to consider.
A Record-holding business
Time Galerie is a retail business with an illustrious history. It came around in 1986 and has since grown to more than 70 branches across Malaysia. This puts the brand in the Malaysian Book of Records for having the largest timepiece retail chain in the country.
Besides Time Galerie, the company also operates a few other popular brands namely, G-Factory, Casio Corner, Edessa and 60 Minutes, all of which are established and renowned names in the timepiece segment.
Be part of this movement
The timepiece business is one of the oldest when it comes to the retail industry. As such, this is one business that can offer a lot of opportunities when it comes to revenue. Through this business, you get training and support from their headquarters.
Choosing the right set up for you
There are several options that you can choose from that range from different market segments. Royale Time is targeted at the upmarket customers with luxury brands while there are standalone stores as well as the Concessionaire Counters, usually inside department stores.
What do our experts say?
The Time Galerie brand name is very established, especially among Malaysians. It brings a lot of brand credibility which means you need not have to worry about marketing. With the brand, customers trust their purchases to be genuine, reliable and value for money.
- Brand Reputation – Strong brand reputation especially among Malaysians.
- Initial Capital – On the high side as you need to allocate for rental, overheads and inventory.
- Return on Investment – As with most retail businesses, your ROI greatly depends on your location.
- Location – Shopping malls preferably in good visible locations.
- Customer Segment – Mass market
The Final Word
This business requires some extent of experience in the timepiece industry. While you will be given some form of training, it still takes time to gain the expertise. You will need to employ someone who has that knowledge while having a team of capable staff.
One downside of this business is inventory. You need to manage them prudently so as not to keep stock too long as some might be high-cost. Venture into this business if you have sufficient reserves that can sustain your operations and most importantly overheads for the first 2 years.