Tips To Start A Borehole Drilling Business
Tips To Start A Borehole Drilling Business. Want to start your own borehole drilling business? Or are you looking for a business plan template for borehole drilling? If so, please continue reading.
OVERVIEW OF THE BUSINESS
With water shortages becoming more common in many underdeveloped countries, you might think about beginning a borehole drilling company. People go to great lengths to ensure that they have enough water in their homes and workplaces since water is a vital commodity. To put it another way, starting your own borehole drilling company is a lucrative endeavour if you’re in the right place. In order to operate a successful company like drilling a hole in the ground, you’ll need some kind of training.
There are restrictions in most nations that limit the number of boreholes that may be bored in a certain region. In order to prevent earthquakes or other forms of earth tremors, this legislation has been placed in place. In order to make your borehole drilling company worthwhile, you must thoroughly research the terrain and the materials required to successfully drill a borehole and then reap the rewards. True or not, you’ll have a hard time making money and keeping your company running if you don’t understand how the borehole drilling industry works.
GETTING THE BALL ROLLING NIGERIAN BOREHOLE DRILLING BUSINESS START-UP TIPS
It is beyond the scope of this website to discuss borehole drilling, which involves both theoretical and practical know-how. It’s possible to get instruction from corporations. Offer to work for a borehole drilling firm, either for free or to pay for your transportation, if you can’t afford training (working for what you can learn and not earn).
TIPS TO START A BOREHOLE DRILLING BUSINESS
1. CONDUCT A FEASIBILITY STUDY IN VARIOUS AREAS OF INTEREST TO YOU
Be careful that borehole drilling businesses don’t function everywhere, particularly metropolitan locations where industrialization is common. To ensure that a firm of this sort can prosper in this area, you must first do thorough feasibility studies. Other considerations to consider while performing feasibility studies include the cost of equipment, starting cash, and the cost of operating the borehole drilling firm, e.t.c.
2. ACQUIRE THE APPROPRIATE TECHNICAL KNOWLEDGE
Borehole drilling, as previously said, is a highly specialised activity that can only be performed by trained professionals. Borehole drilling businesses are also known to drill for gas and oil. There are many colleges and universities that provide borehole drilling training, so if your goal is to build a profitable business, you should take advantage of this opportunity to learn the ins and outs of borehole drilling.
3. YOUR BUSINESS PLAN IS YOUR ROADMAP TO SUCCESS
An excellent business plan for a borehole drilling firm is the next step once you have completed your training and experience. Previously, we discussed how to construct a professional business plan in one of our blog posts. For the most part, the purpose of this strategy is to provide your company a clear direction. A well-written business plan may assist a Nigerian company or even a loan application attract serious investors.
4. REGISTER YOUR COMPANY NAME AND SELECT A LOCATION
In order to start a borehole drilling company, this is a vital step to do. Get the company’s name registered before you begin doing business. The process of registering a company in Nigeria may now be completed online. If you satisfy the conditions, you may register with the Corporate Affairs Commission.
Choosing a proper location for your company is also critical. You should choose a location that is conveniently accessible to potential customers. A smart spot to start is near building projects, since you may be approached by a variety of residences that require boreholes for a variety of reasons.
5. INVEST IN THE EQUIPMENT YOU’LL NEED
Rather honestly, the capital expenditures required to dig a borehole are quite high. If you want to succeed, you must have the necessary equipment. Borehole Drilling Rig or Boremaster 120 Hydraulic Down Hole Drilling Rig, Drag But Stock, Drill Rods, Drill Rig Counter Weight, Diesel Engine with Hydraulic Power Pack, Safety Helmet, Safety Boots, Overall, and Hand Gloves and so on are some of the equipment that you would need to start your own borehole drilling company in Nigeria.
6. HIRE EMPLOYEES
Borehole drilling, like other capital-intensive industries, can’t be run by a single individual. To get the job done, you’ll need both expert and inexperienced workers. Once you’ve hired your employees, make sure you provide them with training (including safety training) and insurance.
7. ADVERTISE, BUILD RELATIONSHIPS, AND SOURCE CONTRACTS
It’s important to establish relationships with construction businesses in particular. However, you may get contracts for your borehole drilling company from a variety of sources. You may look for jobs in locations like construction businesses, government agencies, private houses, and workplaces. Your borehole drilling company in Nigeria might be profitable if you market it on famous websites, radio stations, and television networks in addition to newspapers and popular websites.
THE GOALS OF A BOREHOLE DRILLING COMPANY
- Improved services and marketing have led to a steady rise in sales.
- Keeping customers happy at all levels of the organisation.
- Provide high-quality services at a low cost.
- Every year, we aim to grow our consumer base by 20%.
- Ensuring that the firm is able to maintain itself beyond the first year via effective management procedures.
GIVEN THE GOALS WE HAVE SET FOR OURSELVES, HERE IS A LIST OF THINGS THAT WE BELIEVE WILL HELP US ATTAIN THEM.
- Continually improve service quality.
- An investment in high-quality drills.
- Using the best and most experienced people to run our business.
- Well-trained and motivated marketing staff is essential to promoting a firm.
- To promote Drips Drilling Company, use the internet.
Borehole drilling contracts may be procured from a variety of sources. Approaching construction businesses is an option; after all, they’re your primary customers. As a result, you should do all in your power to connect with building contractors. You may form a partnership with them. Drilling contracts may also be obtained from the government of your nation, as well as from businesses and private residences. You may also target those who work in the water refill and vehicle wash industries. Borehole drilling is a lucrative company to go into if you know how to set it up correctly.