Hello guys.... Please I would like to make a quick inquiry and would be very pleased and humbled if i can get assistance from anybody here...
I would like to go into wristwatch production, i need ideas from anybody on how to go about this, i want the labour and production, i tried talking to some people on aliexpress and other chinese sites, there were manufacturers willing to do it for me, but they would only make bulk orders (1000 above) and they don't make samples for you to see. Second and obvious problems is the high dollar exchange rate. So i need suggestions on how to start the business here in 9ja..
Thank you

If you want to go into production, always look for something that you wont have to import all the components.
Otherwise you will always be at the mercy of dollar fluctuations. You produce something that you can source the materials locally.

Also, a watch is not a necessity. Most people have phones that makes the watch a bit redundant. If you try to produce cheap watches, most low income people will find it unnecessary, if you produce expensive ones, it will be for the well to do and u might not sell as fast.

Because once again is a luxury item.

Now you have to get into the patents or ownership of the watch mechanism and movements. Unless you decide to produce it and ignore patent, u might have to pay the patent owners.

You will need expatriate that can teach your people how to produce the watches (at least at the beginning) hence you pay them in $$$ cos they wont come from their country to take naira from you.

If you insist on watch production, the best way to start is going alibaba's way and if you grow big enough you can begin your own

If you have the money to start a watch company, why not look into farming/agriculture. Imagine you have hundreds or thousands of acres of orange / banana plantation . You can be primary supplier for juice companies.

How about poultry? You wont have to rely too much on foreign exchange rate fluctuations.

I don't need to kill your vibe but u need to examine all parameters of what you need to go into before you begin.

Good luck

USAutoBuy:
If you want to go into production, always look for something that you wont have to import all the components.
Otherwise you will always be at the mercy of dollar fluctuations. You produce something that you can source the materials locally.

Also, a watch is not a necessity. Most people have phones that makes the watch a bit redundant. If you try to produce cheap watches, most low income people will find it unnecessary, if you produce expensive ones, it will be for the well to do and u might not sell as fast.

Because once again is a luxury item.

Now you have to get into the patents or ownership of the watch mechanism and movements. Unless you decide to produce it and ignore patent, u might have to pay the patent owners.

You will need expatriate that can teach your people how to produce the watches (at least at the beginning) hence you pay them in $$$ cos they wont come from their country to take naira from you.

If you insist on watch production, the best way to start is going alibaba's way and if you grow big enough you can begin your own

If you have the money to start a watch company, why not look into farming/agriculture. Imagine you have hundreds or thousands of acres of orange / banana plantation . You can be primary supplier for juice companies.

How about poultry? You wont have to rely too much on foreign exchange rate fluctuations.

I don't need to kill your vibe but u need to examine all parameters of what you need to go into before you begin.

Good luck

Thank you very much for the tips and advices, i am very grateful