Be it for better skin, or better health, we need to drink the right amount of water throughout the day. So, if you are thinking of starting a water bottle business, you definitely are on the right path. If you have a creative approach towards creating something different from regular water bottle businesses, you can even become a successful businessman. But, how do you start a water bottle business, you ask?
This business, like any other business, needs proper planning. Not only that, you will also need to meet several legal requirements to get started. So, if you want to materialize your water bottle business plan smoothly, go through this article to find the guidelines that you need.
How to Start a Water Bottle Business
Why Should You Start A Water Bottle Business?
Before we jump on to the steps of how to start a water bottle business, let’s first talk about why you should choose this business out of hundreds of other options. The simple answer is, it is a lucrative industry that can even make you a millionaire if you know how to do it right.
Bottled water is the commodity that’s consumed every day all over the world. People from many countries rely on bottled water only. So, if things go as planned, starting a business in such a country can help you become successful overnight. On top of that, you will find it reassuring to know that economic recessions don’t affect the consumption rate of it much. So, if you want to start a recession-proof business, this one has to be the best option for you!
Starting A Water Bottle Business
Well, you can’t really start a water bottle business without a properly structured plan. If you are confused about where to start, no worries! We have come up with 7 points that you need to know before starting a water bottle business. Read on to plan out your journey.
1. Have a Plan
The first step is the most crucial one. Trust us, if you can excel at this step, the rest of your journey will be much smoother. It is important to invest a lot of time in making a clear and thorough plan of the business.
It’s essential to estimate the costs, find out the target market, break-even point, operation process, promotion duration, location, and so on. It would help if you decided on who is going to be your supplier, and where you are going to sell the bottles as well. Besides, you have to select a brand name, packaging design, and other outlook related decisions.
2. Estimate the Cost/Budget
You may be a bit confused about this step if you have no idea about what you need to spend money on, how much it would cost, and so on. Fortunately, we have researched everything you need to know just for you!
So, what are the possible costs of starting this business? You’ll need to spend money on many stuff – filling machines, filters, sealers, water dispensers, trucks, storage tanks, water treatment machines, conveyors, water sterilizers, bottle loaders, and more. You will have to pay for your employees salaries too. You’ll also need to spend money on water sources and suppliers.
So, the starting cost can be approximately around $500,000-$750,000. However, depending on the operation size, the business may require a higher start-up cost.
3. Identify the Target Market
Your target market can be all commercial enterprises, such as- grocery stores. But you can sell your products directly to businesses or consumers too if you want. Do the research and determine which option will be the best for you.
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4. Make Money
If your target market is the local grocery stores, you can charge them $2 to $1 per bottle. You can even charge a flat rate for a truckload. To make yourself an anchor customer, you should make regular shipments because this initiative will help you increase your overall revenue.
Now, you might be wondering, how much can you make as profit by starting a water bottle business? Of course, it’s not fixed. But it can range around 500% to 100% or even more.
5. How to Make Your Business Profitable
Profit making is quite easy for a business like these. But if you want to make it even more profitable, you need to build up your game. You can target niche product markets such as- sparkling water, spring water, mineral water, and flavored water. It would be best if you considered offering seltzer water, club soda, and designer water too.
6. Set a Name
Yes, setting a name is important too. You can’t make many sales with a crappy name. Research into the industry; you will realize that all the successful businesses in this industry have something unique about their brand name, which make their business more profitable.
So, find a unique name that is very different from others but very catchy so that people remember the brand.
After you find one that best suits your business, check if it’s available as a web domain; secure it as early as possible so that others can’t take it. Once you have set the name, you should open an official email account by taking help from Google’s G Suite.
7. License and Permit
Every state comes with some sets of requirements that you need to follow for starting a business. So, if you are starting a business in the USA, you need to obtain an FDA license. Additionally, you need a permit from the health department of your state.
Let’s face it; starting any business is not an easy job. You have to go through a lot to make into a successful one. But if you really want to become successful, you need to spend more time and effort on it. We hope this article helped you to gain an overall idea about how to start a water bottle business and inspired you to start your one!
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