|16 May 2010, 10:16 PM||#1|
Join Date: Dec 2009
Real Name: Will
Watch: Submariner LV
How to Become a Rolex Reseller / Dealer
Does anyone know or have experience of how to become a Rolex / Omega dealer or reseller?
I've been told by a friend that Rolex offer an intensive seminar. If this true?
|17 May 2010, 12:28 AM||#3|
2014 La Royale Pledge Member
Join Date: Feb 2009
Real Name: Tim
Location: Mid-Atlantic, USA
It's quite an ordeal! I personally know of a major Northeast US large jeweler with many watch lines that tried for years. In the end they got the AD status, but had to open a separate dedicated location and paid a $400,000 fee to Rolex for the priveledge of selling their product.
|25 May 2010, 08:00 PM||#5|
Join Date: Jul 2008
Real Name: Eric
Watch: this, bro...
|25 May 2010, 09:10 PM||#6|
Join Date: Jul 2008
Real Name: Chris
A very big investment, and then you have the struggle of convincing Rolex that:
a) You're significantly better for the brand than the current Rolex contract holder
or b) There's a sufficient market for two Rolex ADs in one city.
It's certainly not easy for an independent AD to get their foot on the ladder, which is why (unfortunately, in my view) contracts tend to go with the big chain shops.
|25 May 2010, 10:28 PM||#7|
2014 Bond007 Pledge Member
Join Date: Jan 2008
Real Name: Anastasios
Location: Fort Lauderdale
Watch: 1915 Rolex
Other than having money, a good and trusted name,
location and distance from another dealer, dedicated space,
no sales of Breitling, minimum orders and many years of
jewelry business experience, really THERE IS NOT MUCH ELSE.
Once you get the "blessing" the top guy in charge of your area must like you
so you can get the highest profit margin (it ain't much) and the watches
you really need,
of course the first 60-80 watches will include a lot of unsellable
garbage LIKE A LADIES SIZE 26MM - NO DATE that you will have
to "eat" or sell at lower than cost if you want to get rid of them.
The good part is that they make a nice display decoration if you want
a window full of Rolex watches - but be a smart ass with the "rulers"
and their "Hitleresque" alter ego will crush your "availability" of goods to you
... and who... (in your area) gets the new sub first.
Wait there is more, they will come and look and tell you how you should run
your business and you better pay in time as well as order frequently,
this is a serious brand and if you do not follow rules and regulations
you can kiss goodbye the 10 models that really sell so you will be able
to pay your rent and employees - actually if you depend entirely on paying
the rent and the employees FROM THE PROFITS of just selling Rolex watches (?)
you are in line for a rude awakening .
You can not fulfill all of the above ??
do not worry, all is not lost, you can become a grey dealer, you make less*
but...you are proudly independent..
*debatable if you are a top dog with a few Mil invested..
|25 May 2010, 10:32 PM||#8|
Join Date: Nov 2009
Real Name: Pete
Add that to the "overhead" of salaries, rent, taxes, healthcare, advertising etc that the AD's pay.
This link should be posted (if the $$ amount is true) on every thread about how the AD's are priced too high and you can buy from so and so for less. That is a large investment to make back for any business.
Thanks for the information - I guess my house won't reach AD status anytime soon :-)
SS Submariner K16610
SS/P Yachtmaster M16622
SS Black Dial Daytona M116520
2010 Casio G-Shock
|25 May 2010, 11:03 PM||#9|
2014 La Royale Pledge Member
Join Date: Mar 2007
Real Name: Mik
I talked to a guy who used to work for an AD in my town. He said much of what TempoKing stated. You have to have a certain square footage, other high end watch brands, a certain layout that Rolex specifies and yeah, you have to sell watches that no one wants!
Well, he said that they easily made a million a year on the Rolex contract, but it was pulled from them b/c Rolex didn't like the way they were running the shop. Just like that. The place was successful and they were ordering watches. I'm not exactly sure why it was pulled, but it was. Someone else in town quickly got the contract from Rolex. I call it a contract, b/c I feel it is like that. You have to do it the way Rolex wants it. Period. Kind of sucks, but why do you think Rolex's hold their value so well!?!?!?
|26 May 2010, 01:53 AM||#10|
Join Date: Dec 2008
Real Name: Robert
Watch: Rolex MilGauss
I was talking to my local jeweler about why he didn't get a dealership (No AD for 40 miles and he is the largest jeweler in the area). He said all of the above plus Rolex expected him to carry Rolex inventory valued at xx% of the stores annual sales. He wouldn't tell me the percentage but he said it would be phone number sized and he just couldn't do it.
The one AD I frequent, recently bought land and built their own new store and in order to maintain their dealership Rolex had to approve their building plans, even down to having to change the location of electrical panels, etc. because that is where Rolex wanted their counters and displays to be.
Vidi, Vici, Veni
|Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)|