Earlier quoted context omitted.
The watchmaker is selling his watches for between $45k and $250k and producing one a year on average so yes, he'll need rich customers. I suspect that there may be a different market in Japan though - perhaps older and more traditional people. Sooner or later he will need to take on an apprentice - it would be nice if he can start a school like that. You mentioned electronics, and the Japanese tradition of craftsmen…
That is not that much of an income taking into the skill going into these watches. Wonder if he has to deal with much repairs and returns?
There is only one independent watchmaker ever who has become a multimillionaire (approximately CHF125m net worth) and that is Franck Muller. But his business (which he no longer owns) is a vast, mass production enterprise.