Moving Companies Makes Money Regardless of The Economy
Moving companies are such type of business that can stand the test of any economy? Moving companies whether residential or commercial benefit when economy is booming and during recessionary period. How? When economy booms, people build houses and change accommodations. They move from one location to a better location. In the same way, when economy is bad, disposable incomes are affected. People sell their houses and some people may be forced to move from their residence to low cost apartment. This provides business opportunities for moving companies. There will always be market for services moving companies provide.
Among the services moving companies provide are listed below:
- Moving companies offer transportation to individuals.
- Moving companies help in disposal of wastes.
- Moving companies help people relocate their personal effects in case of change of accommodation.
- Moving companies help corporate organization in relocation.
- Moving companies provide services to shipping companies
Moving companies can be operated from home. It all depends on the level and scale you want to start from. But like other businesses, there are certain things you need to put in place before you can successfully start and run a moving company.
Defining Your Market Niche
As mentioned, the market available to moving business is very wide. You just need to focus on a particular niche. Your niche of course could be to meet the needs of your immediate environment. If you stay in a developing area where people constantly move things in, your strategy might be to identify new apartment where the owner is likely to move in very soon. If you stay in a school environment, moving students and their items should be your focus.
Need for Experience
There are many moving companies all around and they are in constant need of who can help them move things. If you want to start a moving company, working with one or two moving companies before you start your own can fast track your success. Also while starting, it is good you start with friends and relations as your first set of customers. From there, you gain more experience and you can easily get referrals.
The main equipment you need for a moving business is truck. The type and size of truck you need will depend on your market niche. If you don’t have enough money for a brand new vehicle, you can start with a used vehicle of a good working condition. Meanwhile, starting with bad vehicle can spell a doom for your business as you will keep spending your income on repairs and maintenance.
Insurance and Permits
You will not only need insurance for your truck, you need adequate coverage for damages and liability. Also, you need to obtain permits from relevant regulatory authorities.
In this industry, you should be aware that you will be competing with well established moving companies. Therefore, to succeed among the giants, you need to have your own strategies. As part of your strategies, ensure your pricing is competitive enough. Penetrating pricing strategy will be proper for you. You can later increase your fees as your business grows. Also, quality delivery of business should be a priority. Ensure you pack and deliver your customer’s items neat and secure. Don’t allow their item to get damaged. If you destroy their items, even though they don’t hold it against you, they will not call you in another time.
Moving companies usually hire other hands to help in loading and off loading of items. When you want to hire, it is important you hire somebody you can trust. Satisfaction of customers has to be a priority. Your staff should be the ones you can vouch their integrity.
With social media such as Facebook and Twitter, you can easily get across to relations, friends and colleagues to let them know about your new moving business. Words of mouth within neighbourhood will also go a long way. Wearing branded T-shirts is a way of branding your business too. Moving companies do this often.
Finally, moving companies are usually run by people who have stamina to drive and carry things. Your health has to be in a good condition before you can go into a moving business.
One good thing about moving business is that, it can be run as a side income business. Most people move their things on weekends.