The business idea I'm about to share is one that relies heavily on location. If it is established in an area where demand is low, the market will collapse within weeks of its inception.
The business idea I am referring to is the sale of cold drinks and water in both wholesale and retail.
Taking my city as an example, it is an excellent location for this business due to the unreliable electricity supply. Electricity here is scarce, coming only once in a while.
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The only time it lasts for several days is at the end and beginning of each month when the electricity company carries out disconnection exercises for those who have not paid their bills. We are still using the traditional postpaid method rather than prepaid meters. Because of this, cold water and drinks are rare commodities. They are not commonly found in shops except for those that are committed to running generators regularly, which can be both demanding and costly. These shops no matter how hard they try, they can't be regular in providing cold drinks except they have a strong and reliable means for power.
The number of people currently engaged in this business is small, and it often appears to be a petty trade. However, upon closer examination, these business owners are making substantial profits. Although the cost of purchasing fuel or diesel daily is significant, when sales match the demand, there is no cause for concern.
The best ways to run this business effectively are as follows:
- Use Solar Power and Solar-Powered Equipment.
The introduction of solar energy has made this business more economical compared to running on costly fuel and diesel. Although installing a solar power system and purchasing solar-powered refrigerators is expensive, it is more cost-effective in the long run compared to continually spending on fuel and diesel. The benefits of solar energy far outweigh those of fuel or diesel generators. The cost savings on fuel alone create a substantial financial advantage. The only issue is the big funds to install solar energy and buy appliances that are suitable for solar energy.
- Establish a "Pay-to-Charge" Center
If the shop is spacious enough, a pay-to-charge center should be included. This strategy allows the business to generate income from two sources. Since electricity will be available regularly, people can pay to charge their phones, creating an additional revenue stream. Setting up a charging station does not require much equipment, just the installation of sockets and the purchase of various phone chargers.
This service will be in high demand because, in an area with limited electricity, many people rely on charging stations to power their phones. By incorporating this service, the business maximizes its earning potential while utilizing the same electricity source that keeps the drinks cold.
This is why I emphasize the importance of choosing the right location. This business should be established in an area with an inconsistent power supply. If it is set up in a city with a stable electricity supply, it is bound to fail.
Thank You!