Ideas are easy. Implementation is hard- Guy Kawasaki.
There is no said definition of a route to success. But if you are all set to start a moving business, it will require more than just an initial investment. Contrary to popular belief, not everyone with a truck or a van can start a moving company. You will be surprised to know that you need more than just the capital to run a successful moving business.
Here are some measures that you must follow to give yourself the initial kickstart.
Create a Plan
If you have a brilliant idea but no strategy to put into action, you will never be able to build a successful empire. It would be best if you consider a few topics to discover the specifics of a moving business. For example:
- How much money do I need to start a moving business?
- Who can I cater to?
- What should be the pricing structure?
You are lucky enough that we have done the initial research for you. Keep reading, and you’ll find a relevant answer to every query mentioned above.
How much money do I need to start a moving business?
Starting a moving business is relatively cost-effective as compared to other companies. You need a van or a truck along with a few supplies that won’t cost you more than $2000. For instance, you must have:
- Moving dollies
- Moving pads
- Belts to hold furniture
- Moving boxes for packing stuff and essentials
- Packing/wrapping material
Also, monthly costs for business overheads would be relatively lower than other businesses. Most owners start running their company out of their homes, which you can then shift to a warehouse once things start rolling in your favor.
You will spend most of your business expenses, ideally on payroll or taxes, vehicle maintenance, insurance, and fuel. Other than that, businesses today are spending a part of their budget on digital marketing strategies.
Depending on what kind of services you are offering, you must keep some money aside before your business starts making a profit to bear all these expenses.
What Can I Cater to?
While many people are moving, finding a foothold in this business would require some stability. To do that, you must have a list of customers that keep asking for your service offerings.
Also, not every person caters to every type of target audience. Some are comfortable with local moving services. At the same time, others have the right tools to provide interstate and international shipping services. Your target market would change depending on the type of services you can provide.
What Should be The Pricing Structure?
Moving companies usually charge on an hourly basis. Standard costs generally include $25-$35 per hour. And if you move for longer distances, the charges would change based on mileage and weight of the utilities that you are moving.
Running a successful moving business is not a one day task. It’s a gradual process. Also, make sure that you have all the necessary paperwork ready, such as the state’s business records, federal and state trademark records, to gain the required traction without any legal hindrances.
Plus, having a website and a social media platform would further help you secure your market position quickly.