TFS#197 - Julian Farren-Price Shares Behind The Scenes Of Owning A Rolex & Patek Authorized Dealership

THE FLIP SIDE with Andy Mai

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