Movers are vital workers providing an essential service that helps millions of people to move every year. With huge numbers of people working remotely for the first time and choosing to leave high-priced cities like San Francisco and New York for lower-cost options around the country, there has been record-breaking demand for moving services throughout 2020.
The US moving industry is made up of mostly small businesses with 48% of moving companies in the US having fewer than 5 employees. Starting your own moving company can provide you with endless opportunities to design the life and business that you want.
Whether your dream is to grow a business worth multi-millions, create jobs for people in your local area, or simply enjoy the freedom that comes with being your own boss, a moving company can give you the flexibility to do it.
So how do you get started?
Research! Before you get started you’ll need to understand the market you’ll be operating in as well as the potential customers you’ll be targeting.
Market research involves reviewing industry statistics and demographic information to find your ideal customer base. It’s important to understand the market you’ll be operating in before you can become a successful moving company.
By conducting market research in the early stages of building your company, you’ll learn more about who your potential customers are, their specific pain points, and how you can help to make their lives easier. Research as much as you can about the moving industry in your local area.
This may include research in the following areas:
- Market size: How many people move each day, month, and year?
- Economic data: What are the statistics of local income and employment rates?
- Market saturation: How many moving companies already exist in your area?
- Geography: Where are people moving to and from?
- Pricing: What do people currently pay to move?
The more you understand about the moving industry, the easier it will be to create a company that succeeds. A resource like the American Moving & Storage Association (AMSA) is a good place to get started. Keep yourself updated with local news and statistics about trends in moving and the differences between demographic groups.
Moving companies focus on different target markets so you’ll have to decide what your specific market will be. It can be easy to assume that everyone can be your target, but companies generally have more success by honing in on a specific audience and marketing directly to them. This part will take some time as you’ll need to conduct thorough research into your potential target market.
Start by asking yourself these questions:
- Who lives in your local area?
- What moving services do they need?
- Are there services needed that aren’t already filled by existing moving companies?
The area you’ll be operating in can define your target market.
Do you live in an area with a high number of college students? Find out when the semester starts and ends and when they are likely to require moving services.
Do you live in an area with lots of families or is it more young professionals or people of retirement age? By understanding more about who lives in your local area you’ll be able to focus on a specific market to target.
To find out more, download the Ultimate Guide to Growing a Moving Company today and make 2021 the year you start your dream business!