What to Do to Start a Portable Solar Panel Wholesale Business
The buzz around town is all about renewable energy and clean green energy production through solar power mechanisms. The renewable Energy Sector has the most emerging fast-growing business opportunities in the world and no doubt, Solar power is one of its cornerstones. The supply chain of solar power has the potential to create countless employment opportunities and several multifaceted prospects that it is bound to generate and promote economic activity and growth.
Solar technology has the nature of ease of access such that it is the kind of technology that is readily available to any homeowner that has a clear roof line. With ever-evolving solar technologies, the businesses within the renewable energy sector have evolved from large franchises to wholesale businesses that are operational at smaller scales but equally as beneficial and profitable as a large franchise. We observe homeowner associations around the world collaborating for the installation of solar panels in neighborhoods. All different kinds of businesses, whether they are small or large, are diving into the world of wholesale solar power business. Within the paradigm of clean, green energy production and installation of solar power, there are different kinds of solar power panels. One is the most common one that is called the Rooftop Solar Panel System which as the name implies is installed on the roof of an infrastructure to generate and store energy, On the other hand, another kind of solar panel system is the Portal Solar Panel System that has the tendency to be moved around away from the primary home where this system is installed and in operation.
To further understand the mechanism of portable solar panels, we need to understand how they work. Portable solar panels are generally smaller in size in comparison to the orthodox rooftop standard solar power panels. Although these solar panels are small in size they are capable of producing a significant amount of power and are a low-cost method for individuals that intend to enter the renewable energy sector with their startups. Portable solar power panels are best used as solar chargers, optimal for small appliances and basically meeting the on-the-go power needs of an individual. They are best used for people when they are on a camping trip, traveling across the country, hiking or even a long RV drive, etc. In power outages, these devices come in use to charge up mobile phones and other necessary electronic devices. Not only this, attributing to their smaller size, portable solar panels could potentially come with unique features, for example a kickstand, USB ports, or they may be foldable solar panels that make for easier use on the go.
Now the question is how one can start a portable wholesale solar panel business? Here are Top 10 things that you need to do to get yourself ready to dive into this world of portable energy production:
Establish a Market Niche
It is very important for a solar panel distributor to be aware of the needs of the local market and how to meet those needs and requirements. In order to do that the business owner needs to be ahead of his game in making sure all the responsible actors are involved and functional in their wholesale business. These actors include the following:
- Solar Equipment Seller
- Distributor
- Solar Equipment Installer
- Service and Maintenance
Solar equipment extends beyond the lines of just the solar panels. In point of fact, instead solar equipment includes many different things such as replacement batteries for solar water heater products, backpack panels, phone chargers, and numerous other solar power-backed items. The business owner needs to be in alliance with a sound solar equipment seller. Not only this, but the business owner should also be in cooperation with the manufacturers to find and establish distribution channels for both the new and existing portable solar-powered products. The business owner would act as the middleman between the manufacturer and the installer or retail location. Furthermore, there is no doubt that due to the provision of extensive reimbursements offered to homeowners, solar panel installation is a profoundly marketed area and thus there is a lot of potential for installation experts. Coupled with the services of an installation expert, maintenance and upkeep of solar panels are equally as important and thus require the attention of the business owner as well. The business owner must make sure to cover all of these bases and provide their customers with the facilities and services that they require in due time.
Understand Your Target Market
For a wholesale portable solar panel business to flourish it is important for the business owner to understand the local market and their needs. Once that is done, it becomes easier for the business to stipulate a business plan and make it operational.
Formulate a Business Plan
To have a sound and profound business, no matter how small, it is important to have a direction and a goal in mind. The portable solar panel business owner must be clear about their company’s mission statement and goals. Further they need to conduct market research on the demand of their products and understand the costs needed to meet the demands. Finally, they must also be clear about their marketing strategies.
Financing and Cost Model
The most important thing amongst all other factors of establishing a portable wholesale solar panel business is to ensure and secure financing. Without profound financing the solar panel business is as easy as non-existent. You, as a business owner, would have to look after payroll for the individuals working in your business, ordering panels from a distributor for each job, marketing, and paying the energy company on behalf of leased customer accounts. You will likely have an office space, delivery vehicles, and ongoing training to maintain licenses. You will need significant business insurance coverage as well.
Obtain Business Insurance and Licensing
The next most important thing for you to do is to obtain all the necessary licensing and insurance required for your business to become operational in the market. You have to make sure you have a solar contractor license and permission to generate and install solar power-based electricity. Not only this, you need to be in compliance with the national grid and the government’s energy sector producers.
Establish a Profit Model
For the portable wholesale solar panel business to be successful, the profit needs to outweigh the costs. This business would make money through the successful installation of solar units and their maintenance and upkeep. For this, you need to have a monthly billing system for the customer, costs of the installation, retail prices and costs of extra power generation and the maintenance of the solar equipment acquired and installed for the customer.
Quality Control and Access of Portable Solar Power Panels
Another important factor is to make sure that the solar units and equipment that are being installed are of the highest quality and are under maintenance and upkeep by the portable wholesale solar panel business. With this regard, the efficiency of the solar equipment along with their size is the two most important things that need to be factored in and assessed by the business owner.
Market The Business
The business is as successful as its reputation. If the business is not marketed well, then all the hard work and execution are rendered moot. For marketing purposes, the portable wholesale solar panel business can utilize multifaceted resources like social media, email marketing and so many other means to get the word out.
Establishment of a Supply Chain Model
Finally, the portable wholesale solar panel business needs to have an efficient supply chain model where it is made clear that the manufacturer is the starting point, and the maintenance and upkeep experts are the last destination. The outflow of work from one end to the other needs to be efficient and smooth for the business to flourish and compete with other wholesale portable solar panel businesses.
