How to Start Wrist Watches Business in Nigeria

Wrist Watch business in Nigerian is a golden business! Anyone who goes into it and master the strategy can never be poor again. I said so, and I know what I'm talking about. It amazes me how people keep looking for money where there is none; thereby, overlooking where the actual money is, and one of the places or business where you can see the real money is in wrist watch business. And the business is very simple!

Note: This article deals with ordinary (fake brands) that are sold in most Nigerian market. The original brands costs much more!

Rolex Oyster

Out of every ten Nigerians you see on the street, eight is putting on wrist watch, while the remaining two may be considering buying one soon. But the question you have failed to ask yourself is: Where are most Nigerian getting those wrist watches they wear? Who is supplying them, and how much are they getting it for? If you can get answers to these questions, then you'll realize how lucrative the business of wrist watches are.

I'm fortunate to have a very good knowledge about wrist watch business, and now I'm going to share it with you for free! All I asked from you is your attention, and to tell others about WealthResult.com that they too may learn some business opportunities we share here to make their life better and the country a better place for everyone to live in.

Have you ever been to places like Dosunmu in Idumota market of Lagos Island before? OK, let's leave there; have you ever seen wrist watch 'Show Case' by the road side or in a boutique before? How much do you think those guys who run the business make in a day? You may not know but I can tell you that average of them, especially those in busy places make between N4000 to N10,000 daily! That's about N108,000 to N240,000 monthly from that small show case you see! How is that possible, you may ask?

Now let me take you a bit deep into the wrist watch business.

There are about three to four categories of wrist watches, these categories look very much alike, and in most cases only an insider could spot the difference. We have: The Fake, The Fair, The Semi Originals, and The Originals. Can you spot the differences if you see them? I really don't think so, even me with my years of experience in wrist watches some times finds it very hard to differentiate the fake from the originals or semi-originals, except from their prices or the places they are.

The ordinary ones (fake) cost N200 for the leather type and N250 to N350 for the chain type at wholesale price. The fair one (semi original) cost between N450 to N1,100 for the leather type, and N1,200 to N3,000 for the chain types at wholesale price (on average some are higher or lower than the mentioned prices) while The original wrist watches (the original brands) are very expensive, ranging from affordable to unaffordable.

What happens is that those wearing the fake or semi originals tends to have a kind of sense of belonging since it bears the same brand name like the originals, that's major reason why those guys who sells them make lots of sales since everyone want to belong and look nice.

It is on the semi original wrist watches that the sellers make plenty gain because, those ones look more closely like the originals and they last pretty longer than the fake, they last so long that the buyers tend to conclude that they actually bought the original wrist watch. Because of that, the wrist watch sellers can confidently give a guarantee on them and sell them for high price i.e a non original Raymond Well that cost N1,200 could be sold for N4,000 and Luis Armono of N1,100 can go for N5,000 (I'm not saying you should be exorbitant with your pricing, just giving idea of what is currently obtainable) now, you can see the profit potential.

How do you get Wrist Watch business started?

1. Look for a busy place - You can get a nice decent place in a market, at the shopping mall or buy the bus stops. Not a shop, just a clean open place where you can situate your show case (show glass as they use to call it) under an umbrella or anything like that. You can negotiate with shop owners to allow you to stay in from of their shop while you pay them some monthly dues.

Make sure you negotiate a place where you will be keeping your show case at the end of every business day to avoid it being destroyed before the next day.

2. Build a Show Case - This can be done by a Carpenter if you wants to use the wooden types decorated with white Formica, that make it looks very attractive. The Carpenter will charge between N10,000 to N15,000 depending on the size you want. Get a nice one done for you, it's part of your branding.

You can go for aluminum type which cost higher (if you can afford it) that one look very nice too and wrist watches use to look nice inside it. The aluminum type cost about twenty thousand and above.

3. Proceed to Idumota to buy your watches - If you want to deal with the semi originals, you should budget nothing less than N100,000 to fill your show case to a reasonable extent. You can mix it with the ordinary ones for those who may not afford the semi originals. Buy some fanciful wrist watch cases too for those who may want to present a wrist as gifts to someone.

4. Shade your Wrist Watches - The next thing after buying your watches is to display them in your show case for people to see them and begin to patronize you.

Once you are through with these four steps, it's time to get down to money making business and starts smiling to the bank. My aim is to see that everyone start something worthwhile this year - Not just something but lucrative business. 

I don't see the reasons why our youths should be humiliated everyday in another man's country when they can actually make it in Nigeria with peace of mind and respect. I also don't see why someone should take to crime to make ends meet when there are thousands of means of making decent money.

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