Moving companies are important businesses in the US. Americans are known to move a lot in their lifetime. Without these moving companies, every move would be a hassle. This is why starting a moving business is profitable in the US.
However, starting a moving business can be pretty challenging. It can be pretty similar to starting every other small business out there but don’t be fooled. Moving companies have their unique problems. If you want to start a moving business this year or next year, you must know the basics. Moreover, it’s essential to know how you can start them cheaply.
Dip Your Toes into the Industry
Don’t quit your day job just yet. Before starting a moving company, you should first dip your toes into the industry. Helping people move isn’t a job most people like. It’s tiring and takes a lot of mental gymnastics to calculate routes and other logistical issues.
You can give all of this a try by helping friends and family members move during a weekend. Additionally, if you’ve invested in a truck, you should consider doing it part-time. This should give the experience you need to understand moving, and whether if it’s for you or not.
Learn Weight Distribution
Interestingly enough, you don’t need to be the strongest man in the neighborhood to start a moving business. However, weight distribution is an essential skill you should learn. You can find out more about this by watching YouTube videos or attending seminars.
Get Enough Money
Once you’ve determined whether this sector is for you, it’s time for you to procure the necessary funds to start a moving company.
Moving businesses are fairly cheap to start, and you can use your credit card to start it. Many moving companies start with a meager $1,000 budget, and you can do that as well! You’re just going to have to reduce your starting costs by doing most of the work by yourself or with a part-time employee.
Riding Solo or with a Part-time Employee
Most of the costs that small businesses have come from paying employees. However, if you’re the only employee in your company, then you don’t have to worry about anything else. Essentially, the money for every job goes to you. But big-time moves might require other people to help you out.
Hiring part-time employees might be worthwhile if you have big-time moves, such as interstate moves. Since they are part-timers, you don’t have to worry about their monthly salary, and you can contact them only when you need them. Take advantage of this and save some money.
Start Working at Home
Moreover, you don’t need to rent an office the moment you start your moving business. Your home can be your base of operations during the start of your business. You can drastically reduce your business costs by doing this.
Partnering with Other Companies
As a moving company, you should consider partnering with other specialized movers. For example, you can choose to partner with companies that specialize in moving pets. This should help you saturate other niche markets and help you earn a profit from those sub-markets. Moreover, it gives you the flexibility you need so that you can earn more recognition in the industry.
On average, Americans move about eleven times in their lifetime. That’s eleven times you can have a return customer. Loyalty programs are essential to every business nowadays, and you should consider having one for your moving company. Moreover, you should also consider having a referral program. Customers can help you grow your consumer base, especially if they like your services.
Make Small-time Moves
Some moving companies tend to avoid small-time moves, knowing that they won’t earn their cash back doing such jobs. However, it’s one way you can market yourself to the people. There are a lot of small-time moves within your state that can make a difference in your company’s marketing. Do them regardless of the small income you can get out of them. Consider them as investments into your marketing.
The Money Behind Moving Businesses
Moving businesses have reached a market cap of $17 billion. There’s a lot of room for growth, but it’s not rapid growth. If you’re patient enough for slow and steady growth, then this business is for you. It’s also a highly competitive market, so make sure to do some of the other strategies we’ve talked about to maximize your revenue.
Starting a moving company can be quite challenging early on. But once you’re equipped with the necessary knowledge, starting such a business should be as simple as riding a bike.