Watch Price Calculator
How to Calculate The Price For Your Watch
Our calculator is designed to be simple and easy to use. It covers:
- your base costs of time
- salary
- materials
It also allows you to input a desired profit margin on top.
We hope this calculator helps you make more money for your watch brand.
Please input below:
Learn more about starting a watch brand:
Where to start?
-> How to start a watch brand?
-> How much does it cost to start a watch brand?
-> Pros and cons of a watch brand
Need inspiration?
-> Other watch brand success stories
-> Examples of established watch brand
-> Marketing ideas for a watch brand
-> Watch brand slogans
-> Watch brand names
-> Watch brand Instagram bios
Other resources
-> Watch brand tips
-> Watch brand manufacturers
-> Watch brand hashtags
More Tips On Pricing Your Watch
How To Price Your Watch
One of the most challenging aspects to starting a watch brand is determining how much to charge for your watch.
When businesses under-price their product, this can be extremely detrimental to their bottom line and reputation.
Often times, businesses under-price their products to drive demand and volume, but that last thing you want is for customers to view your product/service as "cheap." Additionally, this can have a big impact on the type of customer you attract, which can be difficult to recover from.
On the other hand, when businesses over-price, this tends to be just as damaging to the business.
When customers buy, it's likely that they will explore the internet and look at other competitors to ensure they're getting the best value + deal. This is why it's so important that you research your competition and understand where you land in the marketplace.
Here are some factors to consider when pricing your product:
Understand your customer
It's important that out of the gates, you identify the type of customer you want to attract and how much they're willing to pay for your service. One great way to do this is by surveying your customers. Here are some important items you'll want to takeaway:
- Customer demographic: Age, gender, location, etc.
- Buying habits of your customer: What they buy + when they buy
- Level of price sensitivity with your customer
All of these segments will help you identify the type of customer you're attracting and how to price your product accordingly.
Understand your costs
When pricing your watch, it's critical that you first identify all of your costs and consequently mark up your watch so you can factor in a profit.
The actual cost of your watch may include things like:
- The actual cost to make the product (ie. raw materials, supplies, manufacturer).
- Shipping + overhead fees
- Rent
- Operating costs to run your business
You may want to consider creating a spreadsheet with every single expense involved in operating/owning your business. This will give you an idea as to what you need to generate in order to at the very least, break-even and will help you price your products to factor in a profit.
Create revenue goals
When determining the price of your watch, you'll want to create goals for revenue + how much profit you want your watch brand to make.
This process is simpler than you may think:
- Think about your breakeven cost (by completing the above step).
- Create a revenue goal based on your break-even cost
- Evaluate the # of items you plan to sell in a given period (make sure this is a realistic number)
- Divide your revenue goal by the number of items you plan to sell
This figure will help determine your estimated price per product in order to meet your revenue goals.
Evaluate your competition
The last piece in determining how to price your watch is by simply looking at your competition.
The best way to do this is by finding like-minded businesses that offer product(s) with similar perceived value. Then, you can compare prices of the different businesses and determine where your watch fits best in the marketplace.
All of these factors play an equal part in pricing your watch, so it's important you evaluate each one individually to come up with an accurate price that will help optimize your business from the start.
Lauren Costanza, founder of Bluminary provides us with a detailed spreadsheet of all of her costs associated with running her business:
I knew this would be a self-funded adventure, and I set aside $3,000. During the first three months, I had a detailed spreadsheet where I tracked where the money was going and what was going toward products versus researching and developing new products.
The spreadsheets involved columns and rows of numbers to craft a budget and gain an understanding of how much would need to be invested at each stage of the process - from gathering supplies to building a website, and shipping materials.
Examples of a successful watch brand:
. Delray Watch Supply ($3.84M/year)
John Pietrasz (from Miami, Florida, USA) started Delray Watch Supply almost 6 years ago.
Hi! My name is John Pietrasz, and I am co-founder of Delray Watch Supply, DelrayWatch.com - informally known as Delray Watch. We are a tech-driven luxury watch dealer with a focus on the true watch collectors, casually known as “watch geeks”. By aid of a proprietary algorithm, we, my business partner Federico Iossa and I, are able to offer collectors the most for their pieces on trade, while still remaining competitive in our listing prices.
I started this business with my partner, Federico Iossa (popular from the YouTube series ‘Federico Talks Watches’) 20 months ago with $4,000 in a kitchen, and now see sales of over $3.3 MM annually, at the age of 28.
. Elliot Havok ($1.8M/year)
Steven Elliot Ng (from San Francisco, CA, USA) started Elliot Havok ago.
Hi! I’m Steven and I’m the founder of Elliot Havok and Dash Wallets. Elliot Havok focuses on luxury watches and Dash Wallets offers minimalist wallet solutions.
Simply, we want to make high quality, functional fashion accessories at an affordable price, direct to consumer. To date, we’ve sold over 250,000 wallets in 95 different countries. We’re doing over 150k in sales monthly and are on track for more product lines in 2019.
. Theo & Harris ($1.8M/year)
Christian Zeron (from New Jersey, USA) started Theo & Harris over 8 years ago.
I’m Christian Zeron, I’m 23, the founder of Theo & Harris and I get people excited about old watches.
Really, I should be getting out of law school in May (with 200k in debt) but instead, I’m turning out over $2M in vintage watch sales a year.
. Button Watch ($1.32M/year)
Chema Echanove (from Madrid, Community of Madrid, Spain) started Button Watch ago.
Hello to you all! I’m Chema Echanove, one of the three co-founders alongside Javier Echanove and Daniel Ferrandis.
After almost two years we’re going to close 2019 with $1.5M in revenue.
. Branzio ($300K/year)
Ronnie Teja (from Vancouver, British Columbia, Canada) started Branzio over 5 years ago.
Hey guys, my name is Ronnie Teja and I am the Founder and CEO of Branzio Watches.
We are doing about $25k/mo in sales right now, which is poised to double in the next 6 months at least as we open and explore new markets.
. NOVO watch ($240K/year)
Steve Christensen (from Alberta, Canada) started NOVO watch over 11 years ago.
Hi! My name is Steve Christensen and I handmake watches using reclaimed materials such as military tanks and train tracks at Novo Watch. I consider myself a horologist so my profession ends in -ist and my mom thinks I made it.
It is an iconic place to many people and it’s where we found our original traction. It even made the National news in Canada, which was wild. We completely sold out of our first limited 15 piece editions immediately and had our first-ever $16,000 day!
. Bruder Watches ($18K/year)
Marcus Taylor (from Bristol, UK) started Bruder Watches almost 3 years ago.
I’m Marcus, Co-Director of Bruder Watches Ltd, the youngest of three brothers from Bristol, United Kingdom. We pride ourselves on offering high-quality, timeless watches that don’t break the bank. Our company is in its infancy but we have already seen a fantastic appetite for our new range of timepieces called "Fortis". The range consists of five watch styles each designed to look great whatever the occasion. Our company was born at the beginning of the Covid-19 pandemic, so as you can imagine, logistically, it wasn’t without its challenges getting to where we are today.
Success in 2021 for Bruder is about continuing to grow our brand and engage with our customer base. We will expect to break even around August from our initial start-up cost of around $17,000.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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