Recent economic issues and the unwarranted spread of COVID-19 have demonstrated how fragile the economy is. Of course, the fragility of the economy directly affects your job security and future prospects.
It can be disturbing and worrying when you realize that the job you love may not be there tomorrow. That’s why many Australians are looking at new prospects and opportunities. Unsurprisingly, the vast majority of these are based on self-employment or creating your own financial opportunities.
That’s why you may be considering setting up your own irrigation business. There is certainly a demand for it. Every year the temperature heats up and people need water, it doesn’t matter if it’s large scale farmer, public spaces, or private individuals with large gardens/small fields.
You’ve got the right plan, now you just need to start your business.
Financial Planning
This is potentially the most important part of the process. You need to look at what your costs are, who your customers are likely to be, and what sort of income you can expect to make.
In this sort of business, the costs are relatively controlled. You’ll need to invest in good traveling irrigators. This will allow you to move between places and distribute the water for your customers.
Of course, you’ll need to allow for insurance costs, fuel costs, and consider where your water is coming from.
But, you’ll also need to consider the number of customers you’ll be able to help yourself. It’s likely that you’ll want additional equipment and manpower to service several customers at the same time.
The issue then becomes whether you have enough space to store all the equipment or whether you need to hire premises. This will drastically increase your costs.
It’s important to take your time when creating a budget, you need to think of everything and then add a little extra for unforeseen emergencies. Once you’ve established the costs of getting started and running the business for a year, you can use that figure as the number of funds you need to get started. Then, you’ll have to start speaking to finance companies to raise the capital you need.
Advertising
The moment you commit to the business idea you need to start attracting customers. There are various ways of doing this from going door-to-door, to posting information on the internet. You will want your own website and you will need to reach out via social media. But, your customer base is certain t be local. It’s worth taking the time to get to know some of the people in your area. You can give them the personal service that larger companies struggle with.
Test Run
Once you’ve got your finance sorted, customers becoming interested, and your equipment has turned up, you need to do a test run. This ensures you know what you are doing with the equipment and get the job done efficiently and effectively. That is essential if you want repeat business and referrals.
This isn’t the cheapest business to start, but profits can be significant, it just takes a little hard work.
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