As the name suggests, Bottled water businesses is a business related to water bottles. It deals in the bottling products as well as the distribution of drinking water to consumers. I will help you in getting the answer, “Is the bottled water business profitable?”
YES!. The bottled water business is profitable. It leads to many business owners to grow. Companies who started bottled water business have a satisfying experience. They have accomplished the expected financial results. This business allows them to make money as well as helping customers. It leads to achieve a healthy lifestyle.
Is this Business Right For You?
This business is perfect for you if you wish to make your and other human life meaningful and worthy. I studied a lot and find the facts about it. This business offers a PROFIT MARGIN of 15% for a case and about 35% for an individual BOTTLED WATER. But, with intelligent strategy and planning, many organizations are extracting profit from 50-200%. The best part is that it promotes a healthy lifestyle. This business has the potential to raise your income and at the same time, serve humanity as well.
What are the helpful skills and experiences required for this business?
The important thing about running this business experience, and links in the industry. It is also essential to have a principle understanding of ‘how to purify water’. Specific education or degree is not a compulsion but recommended. You may also need a license and permission from the government. Industrialists prefer to register the license on their skills and education. The key education for this business is management studies. I conclude from research articles about this industry. that most owners and managers have great management skills, knowledge, and experience.
What is the economic growth potential of this business?
Bottled water business has unlimited growth potential. Let me show you its worth by referencing a multinational Nestle company. Nestle owns many water treatment and processing plants. It is to meet the clean water demand. These plants produce countless water bottled and then delivered to grocery stores. Every year, Nestle is generating a profit of billions of dollars from this business.
Business owners build small or medium-sized bottled water. You can start and select your business size depending upon your budget. I recommend you start from small and then grow your business by taking financial support from a bank. You can also grow by investing your profit back into your business. But growing with bank loans has its perks. It can provide you jumpstart and save a lot of time. More investment can help you achieve your target goals in less time and more efficiency. Organic growth limits you to a certain level but you have full control and privacy.
The future of Bottled Water Business
Let’s have a look at the global stats about this business. According to The Global Bottled Water Market, the bottled water market is high. It estimates that it’s worth is about to reach around $350 billion by 2021. The expected market value is following 10% year-on-year growth.
You are here because you are planning to start a bottled water business. Now, when you knew it is profitable. Allow me to guide you step by step with “how to start a bottled water business.”
How to start a bottled water business?
After looking at the stats, I must say that you have found the perfect business idea. In this section, I have put together a simple guide to starting your business. This well-planned strategy will ensure that your new business grows.
STEP 1: Plan your Business.
A clear vision and business plan is the first step to success. Planning can assist you to discover key elements that can make your business grow. Here are a few important topics that you must consider:
- What is the latest trend in this business market?
- What are the startup and ongoing costs?
- Who are your target market and audience?
- What will your business name?
STEP 2: Form a legal entity.
It is needful to form a legal entity. The most common legal business entities are:
- The sole proprietorship.
- Limited liability company (LLC).
In case your business sue, this will protect you from liability. Forming a legal entity like LLC is easy and you can do it by yourself. But, I recommend you to hire a business formation service.
STEP 3: Register for government taxes.
Working under any government and or impose a tax on all kinds of business. So, you have to register for taxes (state and federal) for your business. You have to apply for an EIN (Free Employer Identification). The procedure is quite simple and free of cost.
STEP 4: Establishing a business bank account.
For transactions and accountability, it is a must to have a bank account with your business name. It is also essential for personal asset protection. It is best to separate your business and personal accounts. So, when your business gets sued, your assets (house, car, and other valuables) will be safer.
STEP 5: Set up business accounting
The most critical thing in business is accountability. You must record the source of income and expenses to check financial growth. The performance evaluation of your business relies on accurate information. The detailed accounts also help you in filling the annual tax.
STEP 6: Get necessary permits and licenses
As I mentioned earlier, industrialists usually register their business on their license. For a bottled water business, you need to get the necessary permits and licenses. Permits and licenses can free your business from penalties, fines, or even shutdowns.
STEP 7: Get Business Insurance
Getting your business insurance is as vital as licenses and permits. In the case of financial loss, business insurance protects your company’s financial wellbeing.
he bottled water business is profitable. Many of the business owners have adapted it by analyzing its potential and future growth. Now, it’s your time to start your bottled water business. To enhance profit up to 200%, you will need a proper strategy and professional help. iBottling is here for your help. Contact us and allows us to be a part of your success by boosting it.
Please click below to watch the production process of bottled water production.