How to Start a Clock Repair Business

Part 1 - How to start a Clock Repair business - Background

Despite the recent influx of smartwatches, people have continued to show a strong preference for old-fashioned clocks. These are clocks that need regular maintenance and occasionally break down, requiring a professional to fix them.

Clock repair businesses service worn-out and malfunctioning clocks. The industry has traditionally been dominated by older men, who are now retiring and leaving opportunities for young business owners. Many established businesses report backlogs of six weeks up to one year, which shows that there is demand for this type of work.

Our guide is in 3 parts:

• Part 1 - How to start a Clock Repair business - Background
• Part 2 - Our planner tool to see if this idea is the right fit for you
• Part 3 - Action plan to get started

What are the costs involved in opening a clock repair business?

The costs involved with starting a clock repair service business are minimal. In addition to training, business owners need a:

• Space to repair clocks

• Vehicle for making house calls

• Set of specialized tools

In order to keep the initial outlay low, business owners can set up a space in their home for completing repairs and use their personal vehicles when on house calls.

Together, tool costs may total a few hundred dollars. Clockworks, which sells repair tools, has one tool that costs $250. The other tools are $55 or less, with many priced under $20.

Business owners who want to purchase an established operation will still find that clock repair service businesses are affordable. Spokane Clock, for instance, is available for $40,000.

What are the ongoing expenses for a clock repair business?

When run out of a home, the ongoing expenses for a clock repair service business are minimal. They include a portion of the business owner’s utility and vehicle costs, along with any advertising fees. A retail location adds a lease payment, more utilities and other fees, which is why many business owners avoid getting one.

Many repairs require parts, but parts costs are built into customers’ bills. They may be charged separately or included in a flat fee.

Who is the target market?

A clock repair service business attracts a wide swath of customers. Typical customers include collectors and people who inherit family clocks as heirlooms. Many customers who have inherited a clock get the clock serviced even if repair costs are greater than the value of the clock.

How does a clock repair business make money?

A clock repair service business makes money by servicing clocks. Dale Foust and Jason Hahn, two professional in the industry, explain that the typical clock service involves:

• Ultrasonically cleaning the clock

• Polishing visible parts

• Testing and troubleshooting parts

• Replacing worn-out and broken parts

• Cleaning and testing the clock a final time

How much can you charge customers?

The prices charged by clock repair service businesses vary a fair bit, but most repairs end up costing several hundred dollars. On the low end, a new business owner made $150 fixing two cuckoo clocks. The work took 5 to 6 hours and required no parts. On the high end, Mike Murray charges between $300 and $1,400 for most services. He also marks parts up by between 100 and 300 percent (occasionally 1,000 percent for rare parts).

How much profit can a clock repair business make?

A clock repair business can make a significant amount for a simple small business. Spokane Clock averages $4,500 in repair work each month. If a business is run from home, almost all of that revenue will be profit. (Spokane Clock has a retail location.)

How can you make your business more profitable?

To increase revenue, a business owner can become a wheel specialist (horological machinist). This requires advanced training, but once trained a business owner will be able to make the small wheels used inside clocks.

Few clock repair professionals are wheel specialists, so becoming one can help attract higher-paying work. Sometimes, other professionals in the industry will even order custom-made parts from a wheel specialist they know.

Day-to-Day and Growth

What happens during a typical day at a clock repair business?

A typical day at a clock repair business involves:

• talking to customers about their clocks

• servicing clocks (in-house or at customers’ locations)

• ordering or making parts as needed

• testing clocks before returning to customers

What are some skills and experiences that will help you build a successful clock repair business?

Running a successful clock repair service business requires knowing how to service and repair clocks. Business owners have a few ways to gain this technical knowledge:

• Some experienced clock repair professionals (e.g. Bob of Tascione and Mike Murray via Clocksmiths) offer training materials

• A few junior colleges have certificates and associate degrees in clock repair

• The National Association of Watch & Clock Collectors offers workshops, online courses and webinars

Above all, multiple people in the industry underscore the importance of working under an experience cock repair professional.

What is the growth potential for a clock repair business?

Most clock repair service businesses remain relatively small. They’re typically one- or two-person operations that serve the local area. For instance, repair professional Mike Murray maintains a service area of 25 miles from his business’ location.

Having said that, some well-established businesses have clocks shipped to them. This doesn’t account for a large portion of business for any clock repair professional, but a few receive the periodic order from a distant customer. Dale says these orders usually come from referrals of local customers.

What are some insider tips for jump starting a clock repair business?

When opening a clock repair service business, securing a traditional retail location is unnecessary. In fact, it can be detrimental to a business.

Many established professionals run their businesses from their home on a by-appointment basis. By doing so, they:

• Keep overhead costs low

• Do not have to maintain set hours

• Can go on house calls anytime

How and when to build a team

Most clock repair businesses are one- or two-person operations. When businesses have an employee, the employee usually helps customers while the business owner does most of the repairs.

Part 2 - Is a Clock Repair business the right fit for you?

Part 3 - Action plan to launch your Clock Repair business in 90 days