Tips For A Water Refilling Business Philippines: In our recent full guide on how to set up a water refilling business in the Philippines, we spoke about how an entrepreneur can set up this profitable business. Today’s article, we will expand on that article and go over 5 essential tips for a water refilling business.
Some of these tips may come across as basic for some. This is because they are not always put into practice. However, some of these tips and hacks could save your business a lot of money in the short and long term.
It’s a great idea to look at these hacks with an open mind, as going through these may lead to looking at situations in a different light and finding some of your own solutions. Anyways, enough talking from me, let us get straight into our tips for a water refilling business.
Tips For A Water Refilling Business Philippines
5. Find A Reliable And Cost-Effective Supplier
Our first tips for a water refilling business are finding reliable and trustworthy suppliers. There are many different parts to this business model and many different suppliers to consider.
After speaking to experts who have had years of experience in the water refilling business, they informed us that if you have chosen the wrong suppliers, this could be a very costly mistake and could damage your business. Therefore, it’s vital to find a reliable and cost-effective supplier for the water refilling business.
The next question you may ask is, “How do I find a reliable and cost-effective supplier?” Let’s focus on the cost-effectiveness of a supplier first. As we know, being more expensive Doesn’t always mean higher quality (even though sometimes human psychology tells us it does).
The best method to find the most cost-effective supplier was to speak to a minimum of 5 suppliers and compare the prices with the service /product they are offered. This is a simple process where a leading supplier will emerge.
The next part is to find a reliable supplier. Suppose the most cost-effective suppliers are also the most reliable suppliers (which we hope they are), then this is a win-win. If you are unsure if a company is reliable or not as an entrepreneur, the best thing to do is visit social media pages and online reviews; this will allow you to get a feel of the business.
Most suppliers will also tell customers how long a task/fitting will take. They will also provide their customers with transparent communication. If you witness these things, this is a good indication of a reliable supplier.
4. Spend Time On Your Financial Strategy
One of the most important areas to focus on in this business often gets overlooked. This is the financial strategy of a business. A financial strategy can be very simple and save business owners time and money.
There have been a lot of business owners (sadly, I was one of them at 17 years old) that don’t spend time going over the numbers and doing the maths. When planning your strategy and your incoming and outgoings, we need to investigate every area.
For example, have you factored in your delivery charges? Or, have you taken away mandatory tax from this year’s profits? There are many different factors to a business. What we are trying to say here is that financial matters are not always the most enjoyable part of a business. However, it is necessary to be successful. Additionally, you may decide to outsource this task.
3. Plan A Soft Launch For Your New Business
This is an optional tip for a water refilling business. In its simplest way, a soft launch is a process to open your business a few days or a few weeks then you planned to. Businesses decide to plan a soft launch if they are expecting a surge of customers or want to test operations in their business. However, there are numerous reasons businesses decide to perform a soft launch.
To summarise, a soft launch is not essential. However, a soft launch could be valuable for your water refilling business if you have not started trading.
The most frequently asked question about a soft launch is, “how long does a soft launch last?” Typically, a soft launch can last from a day to a couple of weeks. However, if you are opening your business for the first time and thinking about doing a soft launch, I would aim for 2 to 3 days at most.
2. Focus On Your Main Income Types
The next tip for a water refilling business is to focus on the main income type. You could use many different types of income services depending on your customer and your business model.
What is the income type? An income type is the type of way your business earns income. For example, a water refilling business may have the main income type of delivery service. In other words, your income type is a weekly delivery to a large corporation down the road.
Another income type could be a store owner who walks in every day to buy 5 units from you. We must look after each income type. However, as the 80/20 law teaches us, 80% of our profits come from 20% of our customers, so we need to build that relationship and provide long-lasting value.
The most profitable income type would be through deliveries rather than walk-ins in most cases. Therefore, you may consider focusing on building your main profit-generating roots: delivery.
Some business owners I have spoken even to have a separate plan for their delivery section. You may or may not want to do this as it will depend on your scale.
1. Find Reliable Staff
Our last tip is to find trustworthy and reliable staff. This is a no-brainer. If you have a water refilling station business and have 20 staff in total, and one is unreliable or trustworthy, then it’s not the end of the world as other staff can cover their tasks until you find a replacement. If, however, you only have a few staff, then it could be a bigger issue, so we need to focus on finding the right people.
Here are a few simple tips that you could use to help you in your process of finding reliable staff for your water refilling business.
- Review Resumes Daily.
- Use Social Media
- Potentially Look For Employees Who Could Become Brand Ambassadors.
- Go Job Seeking Events
- Broadcast Your Benefits And Perks
BONUS: Differentiate Your Business
Our bonus tip for a water refilling business is to differentiate your business. There are many water refilling station businesses across the world. However, when we look at the most successful refilling station businesses, we see that they are all different in one way or another.
Some of the best-performing water refilling businesses are different. They are different in their prices, they are different in the way they view their customers, they are different in their delivery, and finally, they are different in delivering their services. Sometimes these businesses have one or 2 differences. These differences appeal to customers, the most important part of any business.
I would go one step further and look at how your business can provide true value. For example, can your business become more convenient for the customer? This could mean opening at different times, delivering to different areas, or something else completely. Take a few minutes and think about ways to appeal to your customers.
Lastly, allow me to share with you a story quickly. I’ve researched water refilling businesses for many years now. I remember reading about a very successful water refilling business in America. They had prices and services the same as everybody else, but they had one thing very special about them. The bottles and packaging had motivational quotes on them. Something so small attracted so many customers, and even now, the business is doing extremely well. So don’t be afraid to think outside of the box when it comes to differentiating your business.
5 Hacks & Tips For A Water Refilling Business Philippines: Notes
we’ve now come to the end of our hacks and tips for a water refilling station business. As we spoke about in our full guide in opening a water refilling station, it is very clear why people would like to start this kind of business due to the profitability and potential growth in this business model.
The best advice we received from a successful water refilling business owner is to take things in stages. There are a lot of different parts to the business, and it’s important that you follow all the regulations, gain all the correct permits, and abide by the law to make sure your product (water) is safe.
For more information about legal requirements, check out presidential decree 856 for more information.
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