Want to start a wind farm? here is a complete guide to starting a wind farm business with no money or experience .
Ok, so we’ve provided you with an example of a detailed business plan for a wind farm. We also took it a step further by analyzing and writing a sample wind farm marketing plan backed by actionable guerrilla marketing ideas for wind farms. In this article, we are going to go over all the requirements for starting a wind farm business. So put on your entrepreneur hat and let’s move on.
Why start a wind business?
If you have the capital and the technical capacity and want to start a technology business, one of your options is to get into wind power. Energy, especially renewable energy, which does not harm our environment, is the most preferred option in our world today, so the world goes green to save the world.
If you live in the United States of America and some developed countries around the world, you will agree that the legislation is intended to support and promote business ventures such as wind farms as they are a good source of power generation. In addition, there is indeed a large market for wind farm companies.
If you decide to start your own wind farm, it is very important to analyze the existing wind farms in your area and beyond. You will also need to check existing competitions to find out their strengths and weaknesses. Knowing the weaknesses of the existing wind farms around you means that you can learn from their mistakes and in turn build a better and more preferable business without the mistakes and weaknesses of others.
So if you are seriously considering starting your own wind farm business all you need to do is read this article and you will be well prepared.
Getting Started with a Wind Farm – The Complete Guide
- Industry overview
To begin with, a wind farm is a group of wind turbines located in one place and used to generate electricity. A large wind farm can consist of several hundred wind turbines spread over an area of several hundred square kilometers, but the land between the turbines can be used. for agricultural or other purposes. It is important to note that a wind farm can also be located at sea.
The wind energy industry generates income from the ownership and operation of wind farms and the sale of the energy produced to downstream customers. Over the years, government support has made this source of energy more competitive than other sources of electricity generation, while net wind generation continues to soar.
For this reason, industry revenues are expected to increase in the future and industry operators benefit from the Federal Production Tax Credit (CTP), a government incentive that pays producers per unit of energy sold. . PTC offers renewable energy operators a tax credit that stimulates industry growth.
Wind power (wind farms) is indeed a thriving industry in the United States of America and some developed countries. According to statistics, wind power in the United States of America is worth $ 9 billion with an expected growth rate of 11.6%.
There are approximately 272 registered and licensed wind farms located throughout the United States. The wind farms are responsible for the employment of around 4,662 people. NextEra Energy Resources and Avangrid dominate the industry’s available market share.
A recent research publication published by IBISWorld shows that wind power generation in the United States is growing at a rapid rate. The report states that industrial value added, which measures industry’s contribution to GDP, is expected to grow by an average of 20.1% per year over 10 years until 2021. By comparison, GDP is expected to grow at an annualized rate. 2.1 percent. percent for the same period.
As a result, the importance of wind power to the economy is increasing, indicating that the industry is in the growth phase of its life cycle. The report went on to point out that government support stimulates industry growth, as tax breaks and public service mandates secure markets for the industry’s products.
The wind energy industry will continue to thrive because people and organizations fail to ensure that they get clean, renewable energy while protecting the environment and saving the planet.
Some of the factors that push entrepreneurs to start their own wind farm business is that the business is booming and still enjoys huge support from the government and relevant international donors. In addition, increased economic activity and a focus on energy independence will help attract investors to the wind power industry.
Start of market and feasibility studies for wind farms
- Demography and psychography
The demographic and psychographic makeup of those who require energy from wind farms spans businesses and households, and therefore, the demographic makeup of a wind farm is global. The truth is that when it comes to wind farm businesses, there is indeed a wide range of customers available; and it includes all objects that use power supplies.
So if you are planning to start a wind farm business, you need to cover your target demographics. It should include households, businesses and public facilities in the area where your wind farm is located.
List of wind farm niche ideas you can specialize in
All wind farms or wind power companies tend to provide much needed services to existing wind farms that are used to generate electricity, so it seems that there are no niches in this industry. But on the other hand, some wind farms may choose to focus on certain key areas or niches, such as:
- Onshore wind farm
- Offshore wind farm
- Generating the utility scale
- Distributed generation
Level of competition in wind power
Competition that existing wind companies go beyond the competitions between wind farm companies, but include all players in the electricity sector, especially those that generate electricity from renewable sources in your city or country . So, it is fair to say that the competition in the wind farm industry is fierce.
The truth is, regardless of the level of competition in the industry, if you have done your due diligence and promoted your brand and market your services or business well, you will always move up the industry. . Just make sure that there are no fluctuations in your electricity generations and that you know how to attract and reach your target market.
But in addition to all of this, there are numerous wind farms scattered across the United States of America. So, if you decide to start your own wind farm business in the United States, you are sure to face stiffer competition from other players in the electricity industry, especially those that generate electricity from from renewable sources in your city or country. Also, there are larger wind farms that are setting trends in the industry and you should be prepared to compete with them for customers.
List of well-known brands in the wind industry
In all sectors, there are always brands that perform better or are better perceived by buyers and the general public than others. Some of these brands are the ones that have been around the industry for a long time, while others are best known for the way they run their business and the results they have achieved over the years.
These are some of the major wind farms in the United States of America and around the world;
- NextEra Energy Resources
- Alta (Oak Creek Mojave)
- Buffalo Gap Wind Farm
- Capricorn Ridge Wind Farm
- Fowler Ridge Wind Farm
- Horse Hollow Wind Power Center
- Meadow Lake Wind Farm
- Panther Creek Wind Farm
- Roscoe Wind Farm
- Wind farm shepherds dish
- Sweetwater wind farm
- Big Gabbard Wind Farm
- Caribou wind farm
- Bear wind park
- Energy installation of the century
- Enbridge Ontario Wind Farm
- Kent Hills Wind Farm
- Prince Township Wind Farm
- Leon wind farm
If you are looking to start a successful business and maximize your profits, you need to make sure that you have done your economic and cost analysis correctly and try as much as possible to adopt the best practices of the industry in which you decide to start a business. business.
Despite the fact that the wind energy industry has been around for a long time, it is in fact a competitive business in and of itself. In fact, you will come across several wind farms and renewable energy companies when looking for one.
So, if you are planning your economic and cost analysis, you should conduct a thorough market research and determine the cost required to build a standard multipurpose wind farm, provide the necessary tools and equipment, as well as the cost to run your business. with success.
Also, if you are considering starting a wind farm business, your concern should not be limited to the cost of registering the business, obtaining the necessary license, rent, and equipment. wind farm, purchasing the necessary work tools, as well as branding and building a reliable customer base. The truth is that if you are able to build a strong customer base and a large business network, you will surely be maximizing the profits of your business.
Start a wind farm from scratch or buy a franchise
If you want to start a wind farm, you have to start from scratch because you can hardly buy a wind farm franchise.
Moreover, starting a wind business from scratch is straightforward and usually receives support from government and other stakeholders compared to other businesses involved in power generation.
In the wind energy business, you should try as much as possible to obtain the appropriate license and permits to operate, provide suitable, standard and protected agricultural land, the necessary tools and equipment, establish business relationships with key stakeholders, then use all the marketing tools available to you. especially the Internet to market your electricity.
Note that most large, successful wind farms started from scratch and were able to build a strong commercial brand. Business success takes dedication, hard work, and determination, and of course you can build your own wind farm to become a successful brand with businesses and individuals in your city and across the United States of America. America. if you decide to fork.
Threats and potential challenges you will face when launching a wind farm
If you decide to start your own wind farm business today One of the main challenges you are likely to face is the presence of well established wind farm companies and other players in the electricity sector, in especially those who are also involved in the production of electricity from renewable energy sources. The only way to avoid this problem is to create your own market.
Some other problems and threats you are likely to face are natural disasters, maintenance and repair costs, and the economic downturn; If the economy is in bad shape, it is said that companies like wind farms and the like are usually struggling to keep old customers or even accept new customers.
In addition, unfavorable government policies can also hamper the growth of your wind business. There is nothing you can do about these threats and challenges except to make sure that everything will work out for you.
Start of legal activity at the wind farm
- The best legal entity to use in this type of business
Typically, you have the option of choosing a full partnership, a limited liability company, or even a sole proprietorship for a business like a wind farm. Usually, the sole proprietorship should have been the ideal business structure for a small wind farm business, especially if you are starting out with moderate start-up capital and only covering a community or small town.
But people prefer the limited liability company for obvious reasons. In fact, if you intend to grow your business and offer your services to clients throughout your state and in the United States of America, choosing a sole proprietorship is not an option for you; a limited liability company, LLC, or even a general partnership will shorten it for you. …
LLC training protects you from personal liability. If something is wrong with the business, only the money you invest in the limited liability company is at risk. This is not the case for sole proprietorships and partnerships. Limited liability companies are simpler and more flexible to manage, and you don’t need a board of directors, shareholder meetings or other management formalities.
Here are some of the factors to consider before choosing a legal entity for your wind farm business; limitation of personal liability, ease of transfer, acceptance of a new owner, investor expectations and of course taxes.
If you take the time to critically research the various legal entities that could be used for your wind farm company with the ability to offer retail electricity to customers across town and pretend you are operating through them. United States of America, you agree to this limited liability company; LLC is the most appropriate. You can start this type of business as a Limited Liability Company (LLC) and in the future turn it into a “C” or “S” corporation, especially if you are planning to go public.
Attractive business name ideas suitable for a wind farm business
Since you are choosing a name for your business, you have to be creative, whatever name you choose for your business. the business will go a long way in creating a perception of what the business is. If you are planning to start your own wind farm business, here are some catchy names you can choose from:
- James Bridge® Wind Farm Company, LLC
- Point Turbine ™ Wind Pharm Company, LLC
- Bruno Blades © Wind Farm Company, Inc.
- Three Fan Blades® Wind Farm Company, Inc.
- Green field © Wind Farm Company, Inc.
- Safe Power® Wind Farm Company, Inc.
- Blues ™ Wind Farm, Inc.
- California Space © Wind Farm Company, LLC
- Crist Cross Wind Farm Company, Inc.
- Ultimate Electric® Wind Farm Company, Inc.
In the US and most countries around the world, you can’t run a business without some of the basic insurance policies required by the industry you want to work in. Therefore, it is important to budget for insurance and perhaps consult an insurance broker to help you choose the most suitable insurance policies for your wind farm business.
Here are some of the top insurance policies to consider when buying if you want to start your own wind farm business in the United States of America;
- General insurance
- Health insurance
- Liability insurance
- Energy insurance
- Risk insurance
- Workers compensation
- General expense insurance for disability expenses
- group insurance for business owners
- payment protection insurance
intellectual property / trademark protection
If you are planning to start your own wind farm business, you generally will not need to apply for IP / trademark protection. This is because the nature of the business allows you to run it successfully without having any reason to challenge anyone in court for illegal use of your business’s intellectual property.
But if you just want to protect your company logo and other documents or software of your own, or even multimedia production concepts and special technologies invented by you, you can apply for intellectual property protection. If you want to register your trademark, you must initiate the process by filing an application with the USPTO.
Do you need professional certification to run a wind business?
Besides your ability to generate clean energy (electricity) with a wind farm, professional certification is one of the main reasons some wind farm companies stand out. If you want to make an impact in wind power, you should strive to obtain all the required certifications in your area of specialization. The certification validates your competence and shows that you are highly qualified, committed to your career and up to date in this competitive market.
Here are some of the certifications you can use to achieve your goal if you want to run your own wind farm business;
- Wind farm project certification
- Offshore wind farm certification
- Wind turbine certification
- Electrical Engineering Degree
Please note that you cannot successfully run a wind farm business in the United States and most countries around the world without obtaining professional certifications and business licenses, even if you have sufficient experience in the field. wind energy.
List of legal documents you need to run a wind energy business
The essence of having the necessary documentation before starting to work in the United States cannot be overstated. It is a fact that you cannot conduct business successfully in the United States without proper paperwork. If you do, it shouldn’t take long before the long arm of the law catches up with you.
Here are some of the basic legal documents you need to have in place if you want to legally run your own wind farm business in the United States of America;
- registration certificate
- business license
- Taxpayer ID / taxpayer identification number
- Business plan
- Non-disclosure agreement
- Employee Handbook
- Employment contract (letters with proposals)
- Operating Agreement for LLC
- Insurance policy
- Company charter
- Memorandum of Understanding (MoU)
- Contract document
- Franchise or brand license (optional)
Financing your wind business
Starting a wind farm company is really capital intensive, even if you decide to start with a shopping mall, if you decide to start a large-scale business with a standard, well-equipped wind farm and more than a few full-time workers, you must find a source of funding to finance the business. because it is expensive to start a large standard job. Is a wind power plant manufacturing company.
When it comes to business financing, one of the main factors to consider is writing a good business plan. investors and your friends to invest in your business.
Here are some options you can explore when looking for start-up capital for your wind farm business;
- collect money from personal savings and sell personal stocks and property
- collect money from investors and business partners
- Sale of shares to interested investors
- Apply for a loan from your bank
- Submit your business idea and apply for business grants and seed funding from donor organizations and angel investors
- Source of concessional loans from family and friends
Choosing a suitable location for a wind business
Even though you can afford to start a wind farm company from any part of the United States of America, when it comes to choosing a site for your wind farm company, you need to be guided by the ‘access to suitable land and, of course, obtain the necessary licenses and permits on site. Of course, if you can set up your wind farm company in the right location for such a business, it shouldn’t be difficult for you to be successful in this business.
It’s important to note that a well-located business center doesn’t come cheap, so you should be able to set aside enough lease / rental funds within your budget. – a consultant or a real estate agent who fully understands the city and, possibly, the country in which you plan to open your wind farm. business.
Most importantly, before choosing a site for your wind farm business, be sure to do a thorough feasibility study and market research first. It cannot be excluded that you will come across a similar business that will simply close the store in the place where you want to open yours. That is why it is very important to collect as many facts and figures as possible before choosing a location to start your own wind farm business.
Here are some of the key factors to consider before choosing a site for your wind farm business;
- Demographics of the location in terms of the number of households and corporate organizations able to use your electricity and, of course, the nature of the land associated with supporting the wind farm
- Demand for electricity at a given location
- Purchasing power of premises
- Location availability
- Number of wind farm enterprises and related companies that also generate electricity from renewable energy sources on site
- Local laws and regulations in the community
- Traffic, parking and security, etc.
First steps with a wind farm. Technical and personal data
On average, the specific technologies / equipment needed to run this type of business are wind power tools and equipment (wind turbine, hub, nacelle, tower structure, generator, controls and foundations), inventory management software and others. associated software applications. … In addition, you will definitely need computers, internet, telephone, fax machine and office furniture (chairs, tables and shelves) and much more, all of which can be used as living rooms.
When it comes to hiring employees for a standard wind company, you should plan to hire a competent CEO / manager (you can fill this position), administrator and HR manager , engineers and electrical technicians, a sales and marketing specialist, an accountant and accountant. Here are some of the key people you can work with. On average, you will need at least 5-10 key employees to run a mid-size but standard wind business.
The process of providing business services in a wind farm business
The process of servicing wind energy is straightforward and in most cases well defined. Basically, wind farms are known to produce clean energy, and this is done with a large wind turbine, usually made up of propellers; a turbine can be connected to a generator to generate electricity, or the wind can be used as mechanical energy for tasks such as pumping water or grinding grain.
When the wind passes the turbine, it moves the blades which turn the shaft. The wind speed turns the rotor blades (from 10 to 25 rpm), which is the source of mechanical energy. Wind turbines convert the kinetic energy of the wind into mechanical energy. This mechanical energy can be used for specific tasks, such as grinding grain or pumping water, or a generator can convert this mechanical energy into clean electricity.
Starting a business marketing plan for a wind farm
- Marketing ideas and strategies
Generally, starting a business requires that you be proactive when it comes to marketing your products or services. If you decide to start a wind farm business, then you need to make every effort to use strategies that will help you attract customers, otherwise you will probably have a hard time with the business as there are some well known brands that set the direction. market for the wind industry.
Your marketing strategy must be based on reliability, speed, security, pricing, a secure payment platform and above all, excellent customer service. You need to make sure that every time your customers patronize your business, they are receiving great service. The truth is, if you can apply the above on the spot, you won’t have a hard time keeping your old customers and gaining new customers at the same time.
Nowadays, businesses realize the power of the Internet and therefore will do their best to maximize the Internet to promote their services. In other words, a greater percentage of your marketing efforts should be directed to internet users.
Here are some of the platforms you should use to promote your wind farm business;
- Introduce your wind farm business by sending cover letters accompanied by our brochure to ministries, departments and parastatals. the organized private sector, households and any organization that has the capacity to purchase electricity from where your wind farm business is located
- Promote your wind farm business in relevant trade magazines, newspapers, TV and radio stations
- List your wind farm business in yellow page ads (in local directories)
- Attend relevant international and local exhibitions, seminars and trade shows, and more.
- Create different packages for different categories of customers to work within their budgets while providing them with electricity.
- Internet service provider to promote your wind business
- Join local chambers of commerce around you for the primary purpose of networking and marketing your business; You will most likely receive recommendations from these networks.
- Hire direct marketing marketing managers and business developers
Factors to help you get the right price for your products
One of the key factors in helping you sell electricity for the right price is making sure your operating costs are kept to a minimum and that you are committed to marketing and promoting your brand. Besides the fact that this strategy will help you save money, it will also help you get the right prices for your electricity.
You can also try to work with independent contractors and marketers as much as possible; this will help you save on the salaries of sales and marketing managers.
When it comes to servicing and maintaining your wind power equipment, you should make sure that you purchase replacement parts directly from manufacturers or wholesale distributors in fairly large quantities. The truth is, the more products you buy directly from manufacturers or wholesalers, the less you buy.
Strategies to increase brand awareness and corporate identity of wind farms
If you intend to start a wind farm company to grow your business outside of the city where you intend to become a national and international brand, you must be prepared to spend the money to promote and promote your brand.
No matter what industry you belong to, the truth is that the market is dynamic and requires continued awareness and brand promotion in order to continue to attract your target market. Here are the platforms you can use to build brand awareness and create a corporate identity for your wind business;
- Place ads on print (energy newspapers and magazines) and electronic media platforms
- Sponsor relevant community events
- Use on the Internet and on social media platforms such as Instagram, Facebook, Twitter, YouTube, Google +, etc. to promote your services
- Install your billboards in strategic locations in your city or state
- Take part in roadshows from time to time in targeted neighborhoods to promote your wind business and the benefits of green and renewable energy
- Distribute your flyers and leaflets in targeted areas
- Contact the ministries, agencies and government agencies, organized by the private sector, households and all organizations that have the capacity to purchase electricity in the place where your wind business is located, inform them about your company, as well as products and services. that you suggest
- List your wind farm business in local directories
- Promote your wind turbine business on your official website and use strategies to help drive traffic to your site
- Place our Flexi banners in strategic positions where your wind business is located
- Make sure all of your employees are wearing your branded shirts and that all your vehicles and trucks / vans are properly branded with your company logo and more.