Are you a business owner who’s constantly on the lookout for ways you can trim your bills and boost your profits? Of course you are, it comes with the territory!
In that case, have you considered having a water meter installed on your business’ premises? Switching from a fixed-rate water tariff to a water meter is actually a great way for some businesses to save money.
That said, the amount you can save depends on a number of things including how much you use, the nature of your business and the deal you’re currently on. So to establish if you could save money by switching, here’s everything you need to know about the potential benefits of water meters.
Water Meter Benefits
Having a water meter installed can potentially offer a variety of advantages. These include the following:
Accurate Billing
By providing accurate measurements of your water consumption, water meters can ensure fair and precise billing, so you only pay for what you use.
Often, inaccurate estimates can result in overbilling and sometimes business owners might end up paying more than they should. However, a water meter can help prevent inaccurate billing, so you know you’re paying precisely what you should.
Cost Savings
With a water meter, you just pay for the water you use. If you’re a business that uses less water then you could make some significant savings.
Moreover, with a water meter you’re more aware of your usage. So this increased awareness can lead to reduced water wastage and lower bills. You’ll also be likely to spot leaks, inefficiencies and areas where water usage can be optimised more promptly.
Environmental Responsibility
Many of us take this critical resource for granted, but water conservation is essential for sustainability.
Monitoring your water usage through a meter allows you to reduce your environmental impact and this efficiency not only benefits your business but also contributes to the country’s broader ecological goals.
Accurate Budgeting
Water meters allow you to create a more accurate budget for utility expenses. This can be particularly helpful for seasonal businesses which may have fluctuating water needs throughout the year.
Incentives And Rebates
Some water companies may offer incentives and rebates to businesses that install water meters. These can help offset the installation cost and provide additional savings in the long run.
Potential Downsides Of Water Meters
Now we’ve discussed the benefits of water meters, it would be remiss of us to ignore the downsides. By balancing out the pros and cons, you’ll be better prepared to decide whether a water meter suits your needs and preferences or not.
Upfront Costs
For businesses, installing a water meter may come with initial expenses, including the cost of the meter itself and installation fees. However, as we’ve touched on already, these costs are typically outweighed by the long-term savings.
Change In Billing Structure
When making the switch from a fixed-rate billing structure to one based on consumption, this might require adjustments in your budgeting. So it’s important to keep this in mind and be prepared for potential fluctuations in your water bills.
Which Types Of Businesses Should Consider Water Meters
Some businesses are more likely to benefit from having a water meter. These include:
Restaurants and Cafes
Businesses operating in the food and beverage industry, where water is a significant part of their daily operations, can benefit from water meters as it’ll help them track and control their water usage effectively.
Manufacturing Facilities
Some manufacturers have high water consumption. Water meters can help monitor usage, identify inefficiencies and reduce overall costs.
Hospitality
Hospitality businesses such as hotels use substantial amounts of water. Water meters can help manage these high consumption rates and ensure businesses get the best deal.
Agriculture
Farms and agricultural businesses have some of the highest consumption as they rely on water for irrigation and livestock. Water meters can prove invaluable for monitoring water usage if your business is operating in this sector.
Which Types Of Businesses Might Not Need Water Meters
On the flip side, there are some businesses that may not benefit so much from this type of pricing structure. These include:
Very Small Businesses
Extremely small businesses with minimal water consumption may not see significant benefits from water meters, so having the meter installed may outweigh the money saved on bills.
Businesses with Fixed Cost
If your business operates on a fixed-rate billing structure for water and you’re getting a great deal, then a water meter might not save you much money. Having said that, this depends on your usage so it’s always a good idea to check to see if you could save on your bills.
Using SwiftSwitch To Find A Supplier
Choosing the right water company and navigating the complexities of the installation process can be a bit of a challenging task. This is where a skilled water broker like ourselves can come in handy when you decide to switch business water supplier.
At Swift Switch we’re well-versed in the water industry, and we possess an in-depth knowledge of water suppliers, regulations and the latest technologies including the most up-to-date water meters on the market.
We can assess a business’s specific needs, identify the most suitable water company and negotiate the best deal on your behalf. By using our expertise, you can ensure that your business not only gets the right water meter installed but also secures favourable terms, cost savings and efficient water management for the long term.
So if you’re keen to discuss your options and browse the market for some good deals, speak to us today and we’d be happy to get the ball rolling for you and help you switch business water supplier.
So that covers water meters and the benefits of having one installed for your business. Should you get a water meter? That depends on a variety of factors including the nature of your business, your consumption and the type of plan you’re currently on.
However, as we’ve seen, for some businesses water meters can help you save money and use less of this vital resource.
