When it comes to companies, longevity is one of the signs of success. Time has a way with enterprises, and they need to keep up with the changes this aspect presents to them. A century is a long duration, and over time, many setups that fail to adapt edge out of the scene. Talking of a century, a few years back, Govberg Watches, a watch selling company celebrated a century in the market. It is an impressive feat that makes it one of a few entities to reach the 100-year mark and to have a stable foundation to show for the effort. So how has this watch dealer managed to stay afloat for such a long period? Let us first look at the history of this company.
History Of Govberg Jewelers
The foundation of the company's success was set in 1916 with the opening of the first shop in South Street, Philadelphia. It was a family effort that saw Albert and Sam Govberg as the first owners of the shop. They brought in combined skill with them being watch and diamond-makers, respectively. According to the about page on Govberg's site, Albert pushed their luck and opened another shop along Philadelphia Jeweler’s row, six years later.
Over the years, the company has grown in leaps and has remained atop the watch trading chain. Its feat in business is one to be benchmarked, and a subject of studies should it continue with the success streak. Let us have a look at the factors that Govberg jewelers took advantage of to be in the scene for this long.
A Vast Collection Of Jewelry
The customer is always the critical factor when it comes to running your business, and you need to ensure that they are satisfied at all times. It is a fact that Govberg took that to heart which is evident in their vast collection of jewelry pieces. A look at their website, and you will be fascinated at the various items on stock. It is the exact picture when you visit their physical stores.
Aside from watches that they also stock in abundance, there are services such as engraving, ring sizing and repair. The bottom line is ,when you visit the store, you are bound to get satisfied with the various services on offer. It is a good strategy that makes them be on top of the game and ahead of their competitors.
One evident factor of the success of this watch trader is adaptability to the changing times. A century is such a long time considering all the changes that the company must have witnessed to this point. As time goes, you need to leave the weight of the past behind and buy into what sells presently. The past 100 years have been part of the lengthy technological age where inventions have punctuated the timeline. At the moment, the internet is the critical concept of technology, and in keeping up, Govberg bought into it as evident from Forbes.
The store has an online platform where you can visit and check out its catalog of watches and even make an order. It follows with a supporting application that also helps you get in touch with the store easily. The app is WatchBox and helps in various trading aspects associated with the store from buying, selling, and also reviews.
The Family Factor
Govberg Watches is a family-owned business, which maybe one of the factors behind its longevity. As with many family-owned enterprises, the exclusivity that comes with top management positions ensures the upholding of family ties and values. As such, there is smooth running of affairs in the business, and in case of any arising problems, mediation is easy. At the moment, the company is run by the third and fourth generations of the Govbergs. Albert's grandson and his sons presently take charge of the store, and it seems that they are on the right path in stabilizing the store's franchise.
If there is one thing that affects many businesses and can spell their doom is stagnation. It is one fact that the business in question has tried its best to avoid. Aside from adopting technology, it has not been static and has other stores running in other parts of town. Business expansion helps in reaching a more extensive client base and also improving an enterprise's earnings. The result is strengthened stability. At the moment, it has three stores, two in the heart of Philadelphia and another in the town of Ardmore.
Your entity is as good as the employees it has, and it is one fact that Govberg has been keen on this for all the years it has graced the commercial scene. It has permanent staff that operates the shops and caters to the various clients who come to either buy or sell their watches. Experience and dedication should be a factor in handling different types of customers and retain them. Aside from the shop, it also has 15 permanent employees to handle its online presence. They consist of programmers, content creators, and software engineers who maintain the site to its best integrity. The staff makes the site easy to use for clients that prefer shopping online.
Govberg Watches is one of the jewelry dealers known for its longevity in the watch business. Looking at the many years it has been in business, 104 to be precise, it is a thriving entity. It continues to make a name for itself in the watch trade featuring various services such as repair and engraving. Above are some of the factors behind its feat of being stable throughout the century. Adaptability is essential and ensures your business sticks to time. Try having a look at Govberg’s site and get a lesson or two on its success as well as get a befitting timepiece for you or a loved one.
Written by Garrett Parker
Read more posts by Garrett Parker