TFS#197 - Julian Farren-Price Shares Behind The Scenes Of Owning A Rolex & Patek Authorized Dealership
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Julian Farren-Price is the owner of J Farren-Price, a renowned luxury watch and jewellery boutique in Australia, specializing in high-end brands like Patek Philippe and Rolex. He took over the family business, founded by his father in 1942, after working as a chartered accountant. With over 35 years of experience, Julian is a respected figure in the luxury retail world. He is also a passionate yachtsman, having won the CYCA Ocean Pointscore Series ten times with his yacht About Time
Connect with Julian Farren-Price!
instagram.com/jfarrenpricesydney
Visit J Farren-Price website to know more about Luxury Watches!
jfarrenprice.com.au
CHAPTERS:
0:00 - Introduction
0:51 - Julian's sailing experience with his yacht About Time
2:46 - J Farren-Price business history
7:36 - Why is it hard to establish relationships with big brands like Rolex and Patek Philippe?
9:08 - What makes luxury watch brands like Patek Philippe, Rolex, and Vacheron Constantin so popular?
11:12 - Julian discusses brands represented by J Farren-Price that he believes have significant future potential
12:47 - Julian on how to become an authorized dealer of luxury watch brands like Rolex
13:56 - Julian on how Rolex manufactures their watches
16:32 - How does Julian manage or train his staff on watches and jewelry?
17:55 - Julian on succession planning for his business with his children
18:59 - Does Julian and his family have full access to luxury watches?
19:41 - How does Julian retain staff for decades?
22:48 - What is J Farren-Price's outbound marketing strategy?
25:45 - Julian's thoughts on luxury watch collectors
27:14 - How the value of a 1989 Gold Rolex Day-Date increased from $8k to $60k
28:41 - Julian on how collectors store their watch collections
30:00 - Julian's plans to expand his watch store
31:30 - How does Julian grow his store and clientele?
33:49 - How does J Farren-Price acquire new customers and maintain relationships with existing clients?
36:27 - Julian's advice for aspiring watch collectors
37:36 - Julian on spending seven figures annually to market his brand
40:51 - Julian's plans for his store over the next 10 years
43:12 - How does Julian secure supply for his watch store?
45:14 - How old was Julian when he joined J Farren-Price?
51:48 - J Farren-Price: from a seven-figure debt to a strong 20+ year run
54:38 - How does Julian allocate supply to different staff members?
56:19 - Do watch collectors wear all of their collections?
57:51 - Julian's most worn watch, his choice for black tie events, and his dream watch for collectors
1:02:24 - Julian's recent life discoveries
1:03:13 - Julian's goals and focus for the next six months
1:03:45 - Connect with Julian Farren-Price
1:04:44 - Outro
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