Tapping into a growing market
Pure Water (Bermuda) Ltd. has made quite a splash in just a few years.
And the Bermuda market still holds a number of opportunities for the products and services of the bottled water company, according to the entrepreneur who founded the company three years ago.
With their offices in the shadow of the First Church of God on North Shore Road in Pembroke, Pure Water (Bermuda) has grown from a staff of four to a significant enterprise with 15 employees, seven full-time and four part-time.
The company sells 8,000-10,000 gallons of bottled water on average per week, said president Mr. Allan Marshall.
Since Pure Water delivered its first bottle of water on September 8, 1992, the growth -- and thirst for the product -- has been "phenomenal'' with sales doubling each year, Mr. Marshall said.
"We were first looking for operational break even point at three to five years and we reached it in three years,'' he said.
"It is self sufficient after three years.'' During the start-up period, there was a need for significant capital investment for water purification equipment, staff and plant costs.
And capital investment costs continues, he said.
In the spring of next year, the company plans to invest in their third water purification equipment upgrade to meet rising demand.
And the company is currently adding a fifth truck to the fleet.
"The biggest challenge has been managing the growth,'' he said.
Calling the Island market a young one for the Pure Water product, Mr. Marshall said: "We believe it will be two more years before we reach our annual capital expenditure plateau.'' The success of the company is due in part to Mr. Marshall's banking background.
Prior to catching the entrepreneurial bug, Mr. Marshall was with the Bank of Bermuda for 13 years.
After graduating from Princeton University with an economics and political science degree, he went through the bank's management programme and took a position in treasury.
In 1984, the bank sent him to Hong Kong to manage their Far East treasury office. While in the Far East he married and started a family.
It was in Hong Kong where the concept of Pure Water (Bermuda) was actually born.
He returned to the Bank of Bermuda head office in 1991 but soon chose to go it alone in the world of small business.
Utilising his banking background, he prepared business, marketing and financial plans.
Originally, Pure Water (Bermuda) was formed in partnership with his sister Ms Norma Cross who later sold her ownership to Mr. Marshall and business partner Mr. Paul Claude in December 1993. Mr. Claude is currently the company's vice president.
Besides getting much-needed capital, Mr. Marshall said there were Government health department and water authority requirements.
Pure Water (Bermuda) has a licensing agreement with Nebraska-based Pure Water Inc., and president Mr. Al Meder was here to meet with health officials and inspect the Island facility.
The company is a member of the International Bottled Water Association (IBWA) and extracts its water from the ground aquifer known as the Government House lens which is part of the central water lens.
The water, taken from the lens, undergoes various filtration, distillation and other processes.
The company conforms to guidelines provided by the US Food and Drug Administration as well as US Environmental Protection Agency.
The company's success has not gone unnoticed by Pure Water Inc.
As the US company looks to expand to other locations -- the Caribbean, for instance -- the Bermuda company has provided valuable marketing and sales information to Pure Water, Inc.
WATERWORLD -- Pure Water president Mr. Allan Marshall, left, and vice president Mr. Paul Claude.
