You’ve found a great source of pure water and heard that you can make a fortune selling bottle water. So how do you go about it?
Well first of all bottled water is a very competitive area and one where products are bought because of their brand image so it is a difficult market to break into. This means that designing a great brand and testing your market is very important. You should also be prepared to spend a considerable amount on advertising and marketing.
1) Bottler: First thing to do is to find a bottler – without a company to bottle your water and some way to get the water from its source to the bottler you are not going anywhere! You should check that they will undertake small runs, because that is what you will be doing first of all. Negotiate a good price with an even better price once you make larger runs. Brand: Now you need a really good memorable name for your water. As I said before, the name is everything. You will also need a good catchy strap line and a reason why people will want to buy your water rather than other people’s offering. A good USP (Unique Selling Proposition) will also help.
2) Label: Now find a good designer, you can find them on sites such as guru and Elance or even your local university.
3) Pricing: In this competitive area, you need to get yourself a really keen wholesale price that will give your retailers a great profit.
4) Marketing Strategy: Now put all the above together and write a really great Marketing Strategy – that is how you are going to sell your products, at what price and to whom!
5) Fulfilment: Remember that you will need to get the bottles from the bottler to your warehouse or directly to the retail outlets at the beginning of your business. So you need to work out how you are going to do this and also how you are going to bill your retailers and collect the money.
6) Testing the Market: Now you need to do some testing to make sure that you really do have a viable product. Do a small run and get the bottled water into as many retail areas as you can within a small geographic area. This keeps your distribution costs down and allows you to easily check up on its progress.
7) Results: If all goes well, then sit down and design a robust business plan so that you can set up your new business. If it does not go so well then make any changes you need to – or decide that it was not a business opportunity anyway.
Good luck your new business is on its way.