Row of plastic bottles with clear purified drink carbonated water isolated on white background with selective focus effect
Bottled water is a booming industry, and it’s not hard to see why Americans love them. According to BMC, or the Beverage Marketing Corporation, Americans consumed almost 15 billion gallons of bottled water in the year 2019.
Due to this rise, that also meant the retail dollar sales were up as well. For beverage giants like Coca-Cola, Pepsi, and Nestle, who have the lion’s share of the market, this means serious dividends.
However, that doesn’t mean you can’t have a piece of the action. If you are trying to start a bottled water company, here are some steps to follow so that your venture can be a successful one.
- Know the Market
One thing any venture business owner needs to do before sinking money into a new project is researching your market. Just like any industry, knowing the movers and shakers in the business helps to project the possibility for you to succeed.
You should be able to answer questions like:
- Who’s the target consumer?
- How much does the market charge on average?
- What do people like these days?
- Where’s the Capital?
Capital is a serious part of any new business. Selling water may sound simple, but it comes with large upfront costs.
You will need things like:
- A water source
- Trucks for transportation and distribution
- Bottling equipment
- Water bottles
- Labeling for your bottles
- Packaging for distribution
Before any of that, you will still need a workspace and/or a warehouse to conduct all these things in, which can cost even more money on top of that.
- Specify Which Part to Specialize
Sometimes you may not even have to push the product, you can try to specialize in one part of the water production line.
You could decide to buy exclusive rights to pumping spring water from local owners and outsourcing them to bigger companies. Or you could simply handle the water packaging or even distribution.
If you choose to go this route, make sure that you choose a step and stick to it.
- Build Your Brand
Now that you have a physical product to sell, you have to worry about branding and marketing so that you can actually sell it.
What is it that other titans in the water bottle industry do that make them successful? What are some things they’re not doing that you can do? Is there a small niche that you can fill?
These are questions that need answers if you expect to move the product. You could always hire a marketing firm, but that could cost more money out of pocket. Be sure to consider all your options.
Start a Bottled Water Company The Right Way
Understanding how to start a bottled water company in its basic form is understanding how to begin a startup business. Know the lay of the land, know your position and what you can offer, and make the best decisions that can make you competitive.
There are many water bottle companies out there, but you can make yours special. Let your water flow.
FOr helpful and interesting articles just like this one, be sure to visit the rest of our blog.
