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Money on Tap: How to Start a Bottled Water Business
Did you know that 1,500 bottles of water are consumed in the USA every second? This huge statistic goes to show how big business bottled water has become. It is both a basic unit of life and also a fashion statement.
If you are considering getting into the bottled water business, what do you need to know? How can you get started and where can you find the needed equipment?
Why not read on to find out the answer to all these questions.
Where do I Start?
Even if you are planning to start at home, you will need to invest in some basic equipment to start your water bottling operations.
You will need to purchase a water treatment plant that can ensure that your water has the content and quality that you will display on the label. Following this, you will need equipment to sterilize the tubing and bottles that will carry the water.
As your operations expand you will need to employ trained professionals who can work with and guarantee the quality of the product.
What license will I need?
While it might seem simple to arrange the production of bottled water, you will need government approval to sell it. There are two kinds of licensing that you will need.
A general license from the Food and Drug Administration and a permit from your local state health department.
What Basic Premises Will I Need?
Depending on the size of your ambitions and initial production rate, you will likely need to spend at least $750,000 on your first bottling location. This will include your equipment for treating bottling and packing your water for shipping.
While you may be able to find a water bottling line for sale relatively easily, sourcing a water provider and forming a distribution network can be more challenging.
How Much Can I charge?
Depending on the price of your water source, you may be able to sell water at as much as 100 percent markup.
Initially, you will generally be able to sell your water for as much as $1 a bottle. However, if you are marketing your water as having especially high quality or as having specific nutrients, you may be able to charge more.
The goal for most bottled water companies is to establish a strong distribution network and regular customers. To be able to do this you may need to market your water at a lower price initially and then gradually raise your price over time.
How to Start a Bottled Water Business and Much More
Water is one of the basic elements of life and has become a huge business opportunity in recent years. If you have a unique angle and provide a quality product you may be able to succeed in the bottled water business.
If you are looking for other business plans and suggestions, then why not check out our blog articles? We gather the latest information and author independent articles that can help you and your business. Why not take a look at how we can help you today.
7 Tricks to Simplify Strategic Planning For Small Business
Did you know there are over 30.2 million small businesses in the United States?
Although many small businesses face tough challenges, they can revamp their strategic planning with the right strategy. If you’re ready to create a new small business or take your current one to the next level, you came to the right place.
Read on to learn about these strategic planning for small business tips.
1. Collect the Data
Before you start implementing strategic planning for your small business, you need to collect data. The collection of internal and external data is one of the most important parts of strategic planning.
Start by gathering information regarding your business channels, customers, product categories, target audience, etc.
Even if you have a small business, you should still look for and collect important internal data.
2. Expand the Team
Many business managers and owners leave the main decisions to the people on the top. However, when it comes to selling products, sometimes employees who interact with customers have the best insight.
If you want to think outside the box during strategic planning, you should allow more team members to participate in meetings.
3. Productive Work Environment
For your team to thrive, they need to have the right environment. This applies to more than just the physical environment; it applies to the creative.
Everyone in the team needs to feel like they can share their ideas and cultivate their creativity.
4. Over Preparation
During strategic planning for small businesses, all team members must follow through with the preparation. Expect all involved team members to participate in the conversation so that everyone can bounce ideas off each other.
After all, they will be responsible for the implementation and follow-through of those ideas. Preparation and research will ensure the success of the strategic plan.
5. Build a Business Plan
After you have laid out the basic groundwork and built the team, you’re ready to create a business plan.
On the business plan, you will write an executive summary, target audience, market analysis, short and long term financial projections, and an action plan.
6. Strategic Planning Is a Process
Unlike the launch of a promotion or an event, strategic planning is a process. The work doesn’t end once you put the plan in motion.
Don’t worry if you don’t see results right away as long as you continue to see a steady process.
7. Measure Growth
The best way to know the effectiveness of your strategic plan is by measuring growth. Pay attention to the numbers and see how things progress monthly, quarterly, or bi-yearly depending on your goals.
Also, measure the value the strategic planning brought to your business. If you don’t see as much growth as you should, there’s always time to modify the course.
Try These Strategic Planning for Small Business Tips
Now that you know about these strategic planning for small business tips, it’s time you put them to the test.
Remember to start by collecting data, choose the team, create a productive work environment, write a business plan, and measure growth.
If you enjoy these business tips and would like to learn more, check out the rest of our blog.
