Is Starting a Moving Company a Good Side Business
Some business ideas can never go in loss. And a moving company belongs to this category. It doesn’t matter whether you want to have your moving company operated within your town or across the country. The services of your moving company will remain in steady demand.
Read on to learn whether a moving company is a good fit for you and what you require to turn it into success.
Have a Clear Plan
Suppose you have the vehicle, and now you are ready to initiate the first step. A clear and practical plan is essential if you want success in this business. The clarity of the project includes the knowledge of what the business startup is going to cost. Also, you will have to determine your target market. What will be your charges, and what will you name your moving company.
The good news is that the startup costs for transportation and moving businesses are generally low. Your first investment, of course, will be a moving van or a truck. Apart from the vehicle, you will require a couple of more items, such as moving boxes, packing materials, furniture belts, etc. That said, it won’t cost more than $2000.
You Can Start Small
The best factor about starting your own moving company as a side business is that you can start small. This means that you can start right from your home. You might consider moving your business to the warehouse after it has grown successfully. One of the largest starting expenses will include payroll taxes. Other costs include vehicle maintenance and fuel costs. Don’t forget to implement a good marketing strategy if you want to grow your business rapidly.
Remember when we had said that this business will never go in loss. This is due to the never-ending customers. Moving vans are required each day. Some clients can form a stable client-service relationship as they will be in constant need of the service. Make sure to build and maintain a good reputation. Knowing your target market will assist you in stabilizing your side business.
Know how to Make Money
Each of the moving ventures will generate money. Many moving companies offer more than mere transportation of furniture and items from one location to the other. This means that you will look up your potential competitors and provide additional services to increase your revenue. Remember that each of the extra services will earn you better reviews and more money. A majority of the moving companies charge their clients on an hourly basis. The standard charges range somewhere between $25 and $30. Nonetheless, the costs also depend on the load and mileage coverage.
Suppose you are looking for ways to make your moving business more profitable. In that case, you will have to offer more than the standard moving services. For instance, you can consider the inclusion of packing and unpacking services, provide storage, and charge additional costs for homes with stairs.
Come up with Your Business Name
As easy as it might sound, coming up with the right business name can be quite challenging. You will also need to get a USDOT number if you plan to operate the moving company within the states. The establishment of a legal business entity ensures that it is protected under the law. Also, don’t forget to register for taxes at the start of your moving business. A lawyer can help you in this regard and save much of your time and effort.
Lastly, it is for you to decide whether this business is right for you. You might require one additional helper if you are starting small, as you won’t be able to carry the weight on your own.