5 Things You Can Do to Protect Your Watch Business

5 Things You Can Do to Protect Your Watch Business

Watch businesses are companies that create, repair, or sell watches. Leading watch manufacturers produce watches worth hundreds of thousands of dollars, making watches a prime target for thieves.

Whether you sell or trade watches from a retail or online store, there are some things you can do to keep your store safe. The five tips outlined here will protect your business, employees, and clients from several safety threats, including thefts and fires.

1. Hire security guards.

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Security guards are security professionals who work for your business. Their duties include monitoring the premises and viewing security footage. Security guards ensure your alarms are working correctly, investigate suspicious activity, and write reports. They may prevent people from accessing your building or contact law enforcement officials if they suspect criminal activity. The presence of security guards may deter thieves and vandals from engaging in criminal activity near or in your store.

2. Pay for internet security.

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Watch collectors turn to sites such as The Watch Box to locate watch brands such as Breitling, Rolex, Audemars Piguet, Omega, and Grand Seiko. Luxury watches vary in price based on their brand name, features, and materials. Some collectors may prefer durable case materials, such as stainless steel, while others may prefer timepieces made with titanium because it’s lighter. The Breitling watch collection on WatchBox includes the Navitimer, Chronomat, Superocean, Avenger, Bentley, Colt, Galactic, Transocean, Professional, Aviator, Exospace, and Premium designs. A preowned self-winding Galactic Breitling watch with a rose gold case reaches costs $12,900, while a new Rolex Submariner costs over $144,000.

Online retailers who buy, sell, and trade luxury watches must ensure they have a secure online store to handle large financial transactions. Hackers who penetrate your system can use your clients’ credit card information to make fraudulent purchases. They can also steal your employees’ and clients’ identities. Internet security breaches can cost companies millions to resolve. Still, you can save money and prevent criminal activity by installing firewalls and hiring information security analysts who monitor and test your system regularly to ensure it’s secure.

3. Invest in fire safety.

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Protecting your worksite or warehouse is a crucial way of preventing losses. Wildfires can spread embers to buildings, causing buildings to burn to the ground. Installing fire-resistant roofing protects your building because fireproof roof materials can be exposed to fire for several hours before they ignite. This means a fireproof roof gives you time to evacuate before your building catches fire. Asphalt shingles are less likely to crack or break, which means that they won’t spread embers to your building’s walls. Replacing combustible materials, such as wood shingles, with composite shingles means it’s less likely your commercial property will burn to the ground. Other fire safety items include smoke detectors and sprinklers.

4. Get insurance.

There are multiple types of insurance companies may need. You may need automobile insurance if you transport clients or products in company vehicles. If you have a large staff, you’ll need workers’ compensation insurance and health insurance. You’ll also need liability insurance, which protects you from lawsuit costs if someone’s injured on your property. Fire insurance protects you from the financial costs of fire damage. You can use fire insurance funds to cover the cost of repairing your building after it’s damaged in a fire. You can also use fire insurance to cover the costs of smoke damage. Property insurance protects you from financial losses if your merchandise is damaged or destroyed. Having insurance ensures you have the funds required to keep your business operating without incurring the total cost of lawsuits, property damages, or property crimes. You may also opt to take out key person insurance if you employ an expert watchmaker. Key person insurance benefits cover the financial costs incurred if the key person is injured or dies, ensuring your business won’t suffer financial hardship from losing critical employees.

5. Install a security system.

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Security cameras capture video and audio footage. Sophisticated internet protocol (IP) cameras enable companies to capture footage at any time of the day or night, ensuring their property’s monitored around the clock. Security cameras can be connected to other alarms, such as fire alarms, and send alerts if a fire is detected. You can also access security footage remotely, enabling you to monitor your business from your smartphone, tablet, or personal computer. Security systems may deter thieves and vandals from targeting your business.

There are several things you can do to secure your watch business. Hiring security guards, investing in Internet security and fire safety, buying insurance, and installing a security system will protect your business from financial hardships caused by natural disasters or criminal activity.