Entrepreneurship is now the choice of many people in meeting their economic needs as it becomes increasingly difficult to find work.
Many people who started from their desire to get financial freedom succeeded in becoming successful traders, but not a few also dropped due to a lack of provision to enter the business world.
But now many people are more careful in choosing business opportunities that he will play.
Water Refill Business
They are now beginning to realize that as entrepreneurs they must provide solutions to problems that are in the midst of society. One of them is by building a business refilling drinking water refill.
This business is worth considering because drinking water is a necessity for every human being. Plus many factors that support the growth of this business and proven to make this business.
A business that has a long-term opportunity, To be successful in this business you must pay attention to the points below, along with his review
1. Large Segmentation
More and more offices, Islamic boarding schools, beverage franchise sellers, campuses, restaurants, restaurants, cafes, factories, and new workplaces are emerging.
These places certainly want to focus more on their core work rather than hiring someone to boil drinking water let alone having to provide a kitchen to boil drinking water.
Lifestyle and work patterns that take a lot of time are causing people to now switch from boiling their own drinking water to buying refillable bottled water.
This choice is considered more practical and appropriate so that they can work more focused by ignoring trivial things that drain time and energy.
3. Finding Clean Water Difficulties
For some areas that are difficult to find water that is suitable for consumption such as high levels of lime or high levels of pollution, this business has a place in the community.
Even in some places with high levels of pollution or do not have enough water sources are forced to bring clean water from outside the region such as Singapore and countries in the Middle East.
4. Importance of Health Drinking Water
Hygienic drinking water is increasingly difficult to obtain but public awareness is also rising, so it is not surprising that they choose other alternatives to meet their daily drinking water needs.
5. More economical
Rising fuel prices have made housewives save LPG at their homes to boil water, they now choose to buy refill drinking water because it is felt to be more practical and economical.
6. Create Business Proposals
A good business proposal will make it easier for you to convince investors so that you can get capital easily.
Also, you can explain your vision, mission, and future views about the continuity of your business.
Or at least make simple scribbles about the estimated costs of what you need to start this business.
7. Find Location
Finding the right location is one of the problems faced by entrepreneurs. The location you choose must be near and easily accessible to your customers, strategic location will make your business easier to find.
Slain is a location close to consumers that will cut a lot of transportation costs such as gas money and vehicle maintenance costs.
Choose locations that are close to public spaces such as offices, hospitals, clinics, boarding schools, dormitories, lodgings, apartments, flats, boarding houses, and so on.
8. Find A Reliable Supplier
Find the right supplier and ask about the quality, capacity, and price of refill depot equipment. Don’t just refer to one supplier.
Conduct a business feasibility study, taking into account the productive period of the machine and its price with the payback period. Do not let you buy equipment that is too expensive and also do not buy cheap items whose life is short.
9. Register Your Business in the Related Service
Registering your business with the health department can increase consumer confidence, otherwise, it can make your business legal and get supervision from the health department.
You will be equipped with procedures to maintain cleanliness, hygiene, and good work culture to maintain the quality of your depot.
Make your depot look classy in the eyes of your consumers so that consumers are not reluctant to pay more for the guaranteed quality of drinking water they get.
10. Promote Your Business With the Right Media
Create large banners with contrasting colors so that they can be easily recognized by your customers, choose highlighter colors to remain visible at night.
Do not hesitate to promote via social media such as Instagram, post on the WhatsApp group, or broadcast via Blackberry Messenger. Distribute leaflets and share your contacts so you can be easily contacted by consumers.
11. Friendly to Consumers
It is undeniable that every successful business is always accompanied by friendly service by the owner and employees.
Personal touch becomes the X factor that consumers consider when choosing. Remembering the customer’s name will make them feel cared for and feel special.
Establishing family relationships with consumers increases consumer value so that consumer loyalty can be maintained.
Loyal consumers are even willing to pay more for products they already trust, besides that they will not easily move to other outlets and will recommend your business to their closest relatives.
People will have more confidence in the recommendations of their relatives. Of course, this can make your business better known without the cost of promotion.
12. Competitive price
This business appears to answer the demand for ready-to-drink drinking water at an affordable price, why?
Because for many people in India buying branded gallon water is still too expensive compared to buying from a refill depot.
Moreover, drinking water is a basic need that must be available at home every day. consumers will be very priced sensitive so the difference of three hundred rupees will be their consideration in making choices.
Give attractive discounts so that loyal consumers shop at your depot.
You can provide free refills on the fifth purchase or provide a gallon loan to your first consumer, considering the price of gallons can be burdensome for your customers.
13. Fast response service ( Fast Respond )
Your customers are people who are thirsty and need your services as soon as possible. Do not delay sending your order and cause consumer disappointment. answer their orders immediately.
14. Prepare a Budget for Your Business Capital
The capital requirements required to depend on the depot filling capacity, rental rates, renovation of the premises (if needed), labor costs, machine maintenance costs, and so on.
You should also provide funds for operational costs for three months because your business is relatively new is still not well known by consumers.
15. Connect with Competitors
Competitors are not always a threat that you must be aware of. They are only fellow human beings who have to provide for their families, it just happens to be the same profession.
Their existence can be motivation so that you always provide the best service and continue to innovate so that your business is more effective and efficient.
It never hurts to visit his house to give a small gift as an initiative to show your concern.
16. Do CSR
Corporate Social Responsibility (corporate social responsibility) is an activity to set aside a portion of your profits to the surrounding community.
Who needs it, they may also become one of your consumers. With a sincere intention to share you will fulfill the rights they deserve.
You can also contribute to improving the standard of living of your CSR objects, you don’t have to be a big company to do noble activities.
By doing this activity indirectly your company also forms a strong brand name and branding in the eyes of consumers.
17. Perform Financial Bookkeeping
Sounds simple but very important and is often ignored by novice entrepreneurs.
Bookkeeping financial cash flows can provide many benefits in the continuation of your business including as a reporting tool to investors, can find out the company’s position based on its financial condition, and as a tool for making decisions in the future.
Often novice entrepreneurs do not record their financial statements, so when asked what their monthly profit is they answer it by estimating their turnover and net profit percentage and this is not accurate at all.
The author experienced himself when interviewing a convection entrepreneur who claimed to have a net profit of eleven million rupees.
But when he recalculated the number of orders and production costs actually a deficit of seven hundred thousand.
This is very fatal considering that all this time the entrepreneur feels that the business he feels is generating large profits must instead be subsidized by income from other businesses.
To be able to do good bookkeeping you actually do not have to understand accounting in-depth, just write cash flow in and out of the company and separate personal finance.
If you want to learn more about bookkeeping, you can download a worksheet about financial balance in cyberspace, or if you feel the need, you can hire a junior accountant who can help you report and analyze your financial condition.
Read:- How To Become A Travel Agent
18. Business Expansion to Other Areas
When your business is getting bigger and its finances are stable, it doesn’t hurt to open branches or expand to other areas, you can hire people to do SKB (Business Feasibility Study).
Hire professionals so that you are more productive and efficient. Choose a place that has minimal competitors but has great opportunities.
With this, you are freer to innovate because your work has been secured or delegated to professionals and you only need to take strategic decisions and perform supervisory functions.