Know if the Water Refilling Station Business is For You
Don’t go for water refilling station business just for the sake of having a water station or a business. Sure, hard work and patience are required to make any business successful, but eight
out of ten businesses fail simply because the project wasn’t well thought out beforehand. These failures can still happen despite having people working their hearts out.
If you want to own a water station, make sure you have what it takes; it’s best to start with the basics.
Despite having an investment cost that is much lower than when franchising a burger chain, investing in a water refilling station still requiressome capital.If you are determined to earn big, you should be prepared to shell out a proportionately large amount at least in the beginning.After all, investing in this business is still a gamble, same as with any business venture.
Water station packages can cost as low as a PHP 100,000 and as high as PHP 700,000. This usually includes only the water refilling machine and equipment. The amount you spend on water station packages does not shoulder the cost of applying for business licenses and permits, operational expenses, and site construction, which requires building a shop that is at least 20 sq. m in area.
Franchising a water station is even more costlywhen you finally include payments for royalty and franchise fees. These fees are usually high because the business is very popular nowadays.
If you have less than that amount, don’t worry; there are trustworthy companies nowadays who can offer their packages in flexible payment schemes. So try to have at least PHP 100,000 ready for this business and work the rest with hard work and prayers.
A Market to Sell
If you are ready to start your business, you should do some research on your potential buyers. In this case, you should look around in the area where you want to run the business. It should have at least 500 households within your area of delivery. Look around some more and see if there is a competitor you have to share the market with.
You can have your own business with four or five other stations within the vicinity, but be prepared that this situation will require more than delivery of quality water but a lot of marketing and selling activities.
With cutthroat competition, you will have less profit and a price war, and you will compromise the quality of your service. This will later give you more stress, and that is not worth your investment. You may want to try your luck in another business instead.
The overflowing responsibility and requirements
If you manage to accomplish the technicalities of starting a business, don’t get comfortable just yet.There are many other things you will be dealing with and one of those is the water you’re going to sell. You should have a very strong source of water, be it from water district or a deep well. You will need to have your water tested to comply with safety and health regulations, and this needs to be done often and regularly. Testing will be part of running your business for the long-term, so you have to be sincere and passionate about providing clean, safe-to-drink water to your market. You will need discipline and hard work to fulfill your responsibilities as a business owner, and these two attributes will likely be a constant requirement for success.
On the bright side though, if you find success in this business, you’ll experience a good return of your investment. This business may make you wealthy, perhaps even famous for selling healthy water. Just remember that with doing effective research on the business, the market and the competition, you already have half the battle won. If you disregard the planning stage and head
on to business without a plan, you will regret it later.