Business Idea

Start A Borehole Drilling Business

About

Starting a borehole drilling business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$2.83B
starting costs
$26.5K
gross margin
90%
time to build
9 months

About

Starting a borehole drilling business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell , or selling online, you can use this page as a guide for everything you'll need to know.

Key stats

market size
$2.83B
starting costs
$26.5K

 

gross margin
90%
time to build
9 months

Startup Costs

Min Startup Costs Max Startup Costs
Employee & Freelancer Expenses $0 $5,000
Equipment & Supply Expenses $500 $5,000
Website Costs $232 $6,425
Business Formation Fees $600 $4,700
Vehicle Expenses $0 $10,000
Retail Business Expenses $0 $11,150
Advertising & Marketing Costs $75 $3,986
Software Expenses $150 $2,670
Other Expenses $0 $800
Office Space Expenses $35 $1,100
Specific Industry Expenses $0 $500

Successful Businesses

Business URL Rank
Drilling Contractor drillingcontractor.org #1,022,188
Drilcorp drilcorp.com #2,128,438
Tacoma Pump & Drilling tacomadrilling.com #3,970,449
Mysite New borehole-driller.co.uk #4,039,392
Miller Well Drilling: Well Drilling Services millerwelldrilling.com #4,085,797
Well Drilling nielsenwelldrilling.com #4,085,897
Home waterboreholedrilling.com #4,144,872
Rockwell Borehole Drilling rockwelldrilling.co.zw #5,546,783
Griner Drilling Service, Inc. grinerdrillingservice.com #5,756,875
Kasthew Co. Uganda Water Borehole Drilling Company Uganda Kampala Water Borehole Drilling Geotech Laboratory Services Water Pumps Borehole Drilling Company UgandaSolar Water Pump Systems Kampala Geotechnical Geophysical Geological Services Uganda Rwanda Kenya Tazania Burundi Kigali DR Congo Sudan Water Systems Company Water Steel Tanks Stands Towers School Boreholes Farm Borholes Soil Laboratory Sampling Testing Trial Pit Rigs For Sale Africa RC Diamond Drilling Company Community Boreholes Leading Well Drilling Contractors East Africa Bujumbura Nairobi Kisumu Mwanza kasthewdrilling.co.ug #5,781,629
Deep Rock Manufacturing deeprock.com #5,985,185

Pros & Cons

Pros Description
Little startup costs required The cost to start a borehole drilling business costs significantly less money than most businesses, ranging anywhere from 1,592 to 51,331.
Rewarding work Starting a borehole drilling business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Pick & choose the clients you work with Borehole Drilling Businesses have the ability to choose the clients they work with. You have the freedom to work with only a few loyal clients or with hundreds of clients!
Control of workload With starting a borehole drilling business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Longer Sales Process A borehole drilling business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
Work can be inconsistent As a borehole drilling business, the amount of work assigned to you and schedule tends to be more inconsistent, which may make your income less stable. It's important to set boundaries and budget accordingly based on the amount of work you plan to have.
Lack of benefits With a borehole drilling business, you are typically self-employed and responsible for finding your own insurance, which can be quite costly and time-consuming.
Taxes As a borehole drilling business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
No safety net Typically, as a borehole drilling business, you do not receive a consistent pay-check and instead earn money based on your transactions each month. During the slow periods, you typically take away less since the job is based on commission. It's important to budget accordingly for the slow times.