Did you know the global bottled water industry is predicted to be worth over $215 billion by 2025?
If you have a passion for water and want to start your own company then a bottled water business may be the answer. These days people are far more health-conscious than ever before and understand the importance to keep hydrated.
Plus, not everywhere on earth has the same quality of tap water so safe, bottled water is the best alternative. It’s also convenient to be able to buy bottled water whilst traveling.
In this article, we’ll give you some tips on how to start your own bottled water business so you can take advantage of this growing market. Read on for more information.
Create a Detailed Business Plan
Most people get excited when starting their own business and skip crucial steps. They get too carried away with the launch and don’t plan effectively. This can be very damaging and cause the collapse of the business.
The first step when developing your business idea is to create a detailed business plan. This is where you can plan and strategize for how to make it a success.
First, you’ll need to identify the costs of starting and running the business. You need to break down the cost of securing a premises, building a water filling line, employing staff, and more.
You’ll then need to work out who your target market is and how you intend to attract them. Plus, you need to figure out selling costs and whether you need to raise capital, to begin with.
Secure a Water Source
Next, you need to identify a spring water source and secure the rights to use it.
This could take a while and you may have to travel internationally to find the right source for your business. Once you have secured the rights to it, you’ll need to work out how to transport the water to your plant.
It’s also a good idea to secure two water sources to cover yourself. The water flow from one source may decrease or, the business grows and you need more to keep up with the demand.
Create a Memorable Brand
You should take your time in developing your brand image.
You’ll be starting off as the new kids on the block so the company name should be memorable. Bottled water brands also need to reflect freshness and health.
Do your market research thoroughly and look for what works. and why. If you get it wrong it can take a lot of money to remarket the business.
How to Start a Bottled Water Business?
We hope you have enjoyed reading our article and have found it useful?
As you can see the bottled water industry is very lucrative, but also competitive. Ensure you follow these steps carefully when starting your own bottled water business. This way, you’ll have a greater chance of success.
Finally, check out the rest of our blog for more business tips and advice.