Don't you think that CPAs and attorneys get tired of always being referred to as 'centers of influence'? I sure do.
It strikes me that there are a number of other professions/trades who could be effective 'centers of influence'...and they certainly wouldn't have the shabby, dog-eared appearance of the usual 'centers of influence' subjects.
How about Rolex technicians and/or qualified watchmakers?
Some background. There is a shortage of qualified watchmakers to service the growing number of fine and complicated watches owned by Americans. This shortage is exacerbated by the impending retirement of up to one-half of the existing watchmakers in this country.
Americans are buying more expensive watches than can be serviced. Imports of high-end mechanical watches are up 145% in the past decade...while imports of high-end quartz analog watches are up 127%. With average retail prices exceeding $1000, this suggests a growing demand for service and repair ahead.
Need for training. A recent survey conducted by the American Watchmakers-Clockmakers Institute shows that only 35% of watchmakers have obtained their training from a formal watchmaking school. Only 35% of this group were certified as master watchmakers. Moreover, there has been a 75% decline in the number of watchmaking schools since 1975...there are now only 11 full-time schools in the U.S. In recent years, the total number of graduates has been well less than 100 per year...and watch industry estimates that it will take four to six times that many graduates each year to replace the watchmakers who retire...or die. The situation is so dire that the Rolex company has pledged $10 million to the St. Paul Technical Institute, in a race to train an upcoming generation of technicians.
An aging workforce. In the next 10-20 years, 50% of the watchmaking workforce are expected to be gone. The average age is now 46 years old, and only 7% are less than 25.
With an estimated 30-35 million high-end mechanical and quartz analog watches in circulation in the U.S...and a watchmaking workforce of 5000, half of whom will be gone in a few years...with fewer than 100 new graduates each year...it isn't hard to envision a significant supply-demand disparity.
Marketing Thoughts.
- Check out the American Watchmakers-Clock makers Institute website, www.awci.com The referral directory will lead you to the watchmakers in your area.
- If you are in the area, come to the AWCI annual meeting in Minneapolis...August 4-7, 2005.
Back to the center of influence thought, a certified master watchmaker may not have the same cachet as say, the top estate planning attorney in your area...but wouldn't you like to have his/her list of everyone who comes in to get their Rolex serviced?
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