If you are looking for business opportunities in India today, you can try investing in a mineral water plant project. Due to the consistent increase in demand for safe drinking water, the mineral water business has exponentially increased over the last few years. If you want to start your own water plant, make sure to take note of these common mistakes.
Mineral bottled water is one of the most lucrative businesses in India today. According to the latest mineral water plant project report, the mineral water industry has exponentially increased over the last few years and it is projected to continue to flourish in the next couple of years. One of the main reasons behind this progress is the continuous increase in the number of demands due to the widespread awareness about the importance of drinking potable water and the risks of consuming contaminated and unhealthy water.
If you are looking for a good investment, you can start building your own mineral water plant project. But before you start your own business, take a look at some of the major mistakes that many new players in the industry committed.
Starting the business without proper plan
Planning is one of the most important steps that you should not take for granted. Many new mineral plant owners leave planning and everything related to putting up a new water plant in the hands of their supplier which should not be the case. You need to remember that proper planning is the key to success. Without the right plan, you will be like a kite without a string that just flies wherever the air takes it with no specific direction or destination.
Wrong choice of location
Although this can fall under the market research section, choosing the location should not be taken lightly. Some new investors build their own mineral water plant within their vicinity because the location seemed to be more convenient for them without considering their market. For any business, location is everything. Make sure that you choose a location that has great customer base potential and is easily accessible to your target market.
No proper plan regarding machinery, land, staff, and building size
This is the most common mistake that new mineral water plant owners commit. Before finally coming up with a final decision, try to find some potential suppliers for all your water plant needs first including the machinery and supplies. Choose one from your list based on your preferences and requirements and then arrange an agreement with them. Never start with your business unless you have a reliable supplier.
Offering only one type of product
If you want to increase your chance to thrive in the ever competitive mineral water industry, you should make sure that you offer the type of products that your target market wants and needs. For instance, instead of producing only a 500ml bottled mineral water, you can go mix your products and come up with other variations. Aside from bottles, you can also offer pouches or jars.
Starting the business without proper market research
If you don’t want to enter the battlefield caught flat-footed which can result in great losses, you better do something to prepare yourself for the real world fight. And this is also true when it comes to building your own business. One of the important steps that you need to bravely take for a successful business is to study the business and your market first.
Whether you are opening a one-man store or building a huge corporation, you need to carry out an extensive market research first. You don’t have to hire a topnotch agency for this as you can do this by yourself or with the help of your staff.