On Starting A Water Refilling Station Business
If you are looking for a business that is simple to operate and has solid demand, then a water refilling station may be for you. Many homes and offices buy from water refilling stations, so there is a huge demand. While there are now water refilling stations everywhere, there are still many communities wherein they are either too far away or their service is unsatisfactory.
Like all businesses, there are many things to learn so that your chances for success would be enhanced. Below are some tips for you to have a good start in this business:
Consider your financial resources. While the capital requirement of a water refilling station is not that expensive, it would cost around P500,000 to get started. Still, it is possible to start at P200,000 for the most basic setup. However, it may also turn out that you may need around P1 million if it is in a prime location, is in need of expensive renovation, or, if demand is great, it needs higher capacity equipment. There are many other factors affecting capitalization, like the type of delivery vehicle and water station equipment you will be acquiring.
Look for a suitable location. Look for locations near large residential communities that are highly visible and convenient for the residents. Make sure that most of the population there can afford to buy their drinking water. Avoid places where there are already too many competitors, and do an actual count of your market and estimate if the market share you estimate you can get would be enough to satisfy your profit objectives.
Comply with the Sanitation Code, the DOH and other regulatory bodies. Read all the pertinent laws and requirements pertaining to operating a water station. This is not only to avoid penalties but also to maintain quality.
Price in line with the market. In most cases, it is safest for a beginner to just go along with the market going rate and just compete on quality and service. Going for a low price may provoke a price war where all water refilling stations may suffer losses. Make sure that your price gives you a sufficient profit margin by learning how to compute all your costs.
Do not sacrifice water quality. It is short-sighted to save on money by delaying proper maintenance, like the changing of filters, as eventually customers will detect the drop in quality. Once you lose the trust of your clients they are unlikely to come back.
Offer excellent customer service. Deliver on time and properly maintain the water dispensing equipment if you have provided one. Be quick to respond to customer complaints and suggestions, and actively obtain feedback to improve your operations.
Expand your market. Do not just wait for customers to come to you. Try to market to them in their homes and offices by distributing flyers and other sales strategies.
Promote your business regularly. Have loyalty programs to retain old customers and promotions to attract new ones. Never stop marketing your business.
To know more about this topic, BusinessCoach, Inc., a leading business seminar provider, conducts a seminar entitled, “Starting a Water Refilling Station Business.” Contact (02) 727-5628, (02) 727-8860, (0915) 205-0133 or visit www.businesscoachphil.com for details.
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*Originally published by the Manila Bulletin. C-4, Sunday, May 12, 2013. Written by Ruben Anlacan, Jr. (President, BusinessCoach, Inc.) All rights reserved. May not be reproduced or copied without express written permission of the copyright holders.