written by | October 11, 2021

Handy Tips To Start A Drilling Business

HOW TO CREATE A LASTING DRILLING BUSINESS

If you have seen the setting up of foundation a new building or house, you must be aware of the fact that the first thing to happen is the drilling of the ground for the borewell. It is done to make sure there is enough water supply for the building and if not arrangements can be made. The oil wells, the gas hot springs that we hear about in news are discovered only after the drills that go down hundreds of feet down the ground. This task requires a lot of skills and responsibility as a little shift here and there can cause damage of thousands or lakhs. This work requires precision and patients. Once you are qualified and have enough resources and money, it will be easy to set your foot in this business as there are not many investors due to the risks. If you are one who holds a qualification and vigor to get into this business, let’s have a look at the steps you will need to follow to start a drilling business :

Create a Plan 

Decide beforehand what kind of Drilling business you want to open. Decide if you want to get in the borewell drilling business or you want to aim higher and be involved in industrial drilling which involves drilling for gas or oil products. The former is a better option if you are aiming for small scale business as the latter requires you to be highly skilled and will need a huge investment and a highly skilled workforce. Even for former, you need to understand it is not an easy task and requires a good understanding of the earth’s soil and ground level in the area. You must have skills and qualifications for performing the drilling task. You will have to hire professionals and the scale of your business will be bigger. With that decide what will be your reach. Will, you set up your business in a local city, or are you willing to take outstation projects.

Make a plan for what is going to be the size of your business at first. The growth will only follow if you thrive in the market and the drilling business needs investment and time. One should always be ready for bad days and thus also take care of the amount that is produced daily.

Do your research

The drilling business is not an easy venture to open. You have to do a lot of research about how the market functions and what is the demand and supply chain in this business. In the drilling business, you must know how the machinery works. The water system is the foundation of the house and borewell drilling is the first thing that takes place in an empty plot. You must check what is the groundwater level, what is the soil texture, etc. Take care of all the safety measures and rules and regulations which are set up by the government.

Take Permits and License

To start any business in India, you need to have legal permission sorted beforehand to avoid any hassles with government officials. You’ll need to get yourself registered as a business person, get your GST registration, and all sorts of licenses and permits are done. Make sure you are ready with all the paperwork and to take multiple rounds of government offices because opening any business in India calls for this.

Have the right distributor

Make sure you have a distributor who can easily make you available with the supply whenever you demand them and have access to the repair parts of the machinery and pipes anytime you need them. Make sure whatever equipment you use be it pipes or even the machinery is of good quality. 

Be vary of Competition 

The location of your drilling business matters a lot. Try to locate your business away from a place where there are already several drilling businesses are available. Opening a store in a small town that already has many drilling businesses makes no sense. So, look for a place where you can stand out and be highlighted. You can also opt to have your drilling business set up near roads where many passers-by can locate you.

Go online

Setting up any business requires a strong local connection and communication so that the business can propagate but with the rise in the use of the internet, things have become a lot easier. Make a website for your drilling business and set service boundaries according to yourself. Propagate this online and make sure it reaches the construction companies 

Equipment

The drilling business needs big machinery and equipment. Make sure you buy the best quality that functions well and is easy to maintain.  It is a big investment and will require a lot of research from your side. If you are a specialist in this field then great, but it will be best if you take advice from an expert. Resources do not come easy so be ready to spend on that.

Get the Manpower

Bring a team of diligent hard workers together. You need to have engineers who can supervise, technicians who can work under pressure, and other helpers for the construction work. You might also need a team that looks after the work and set up a meeting with clients. According to the size of your business, arrange a force.
Build a team you can trust!

Generate leads

Meet contractors, architects, builders, and integrate with them. Make a deal that whenever they get a project, they refer you to your client. Build relations with them and work together. 

Generate funds

This is amongst the first things to do. The business demands machinery and equipment that are expensive, so the cost of setting this business is high. It will require a principal investment. Get yourself sponsors who are willing to support a local business and have your back.

Starting any business takes a good amount of planning. If you want your new business to succeed, understand the risks that come with entrepreneurship. It often takes a few years to get a business off the ground even with the best-laid business plan and advanced marketing. To open any business, one should be ready to work hard and show a lot of perseverance and determination. Any business will have good and bad days but it depends on the owner how they want to go about it. All the best!

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