The total economic impact of the moving and relocation industry is estimated to be around $86 billion in the United States annually. In such a booming and recession-resistant industry, it’s important for entrepreneurs to find ways to make their relocation company stand apart from the competition.
START SMALL WHILE THINKING BIG
Despite the size of the industry, 47.8 percent of moving and relocation companies have five or fewer employees. This means that there are many different companies across the country, all vying for business. To start a relocation company, you don’t necessarily need a big truck and a massive warehouse. In some instances, people are looking for in-home moving help that only requires the manpower to move or store a room’s worth of belongings. Many customers prefer smaller moving and relocation services because they know they will be getting more personal attention at an affordable rate.
WRITE YOUR BUSINESS PLAN
No matter the size or scope of your operation, you can’t start a relocation company without a business plan. Just as with any other new company, a business plan will help you outline your goals, structure your needs, forecast business development, focus on specific corners of the market, and prepare for challenges. Questions you will need to answer for yourself and your prospective investors include: What are the startup and ongoing costs to operate? Who is your target market, and where are they located? What specific services will you offer?
Beyond the standard elements, your business plan should highlight what will make your moving company unique from the competition. In a market flooded with options, it is essential that the services you intend to offer are appealing to customers in both necessity and ingenuity.
PERMITS, LICENSES, AND OTHER LEGALITIES
Permits are legal authorizations you need to start a moving or relocation company in any state. Since you want your relocation business to be aboveboard, you will need to apply for certain permits depending on the size and functions of your operation. Requirements and regulations for moving companies vary state-to-state, so it is important to educate yourself on the laws in your area before moving forward.
Register your business name. Whether you choose to operate as a sole proprietorship, partnership, limited liability company (LLC) or corporation, will dictate how you then must register for taxes and what type of insurance your business will need to obtain.
Insurance, specifically general liability insurance, is essential for every business, regardless of industry. General liability insurance covers risks like bodily injury, property damage, medical payments, and legal defense, and while businesses aren’t legally required to have general liability insurance, operating without it is extremely risky.
Starting a moving company/relocation company within the structure of an established franchise offers many benefits, not least of which is the ability to handle almost all of the legwork that going the independent route entails. And with so many moving and relocation companies on the market, owning a franchise with a nationally recognized brand backed by years of experience can set you on the path for success from day one.
Caring Transitions brings 14+ years of franchising experience to the table, giving franchisees a proven model to get your business up and running. Guidance and training are provided every step of the way to not only streamline the process of starting your moving company/relocation company but to establish ongoing support to help you maintain and grow your business.
The population of baby boomers in the United States is currently estimated at around 73 million, with every member of the generation exceeding the age of 65 by 2030. This significant portion of the population has its own set of needs when it comes to moving — that are unlike those of younger generations. Caring Transitions was established to address the unique relocation needs of our aging loved ones, filling a void in the marketplace with unmatched services that go above and beyond. Offering everything from decluttering, downsizing, and rightsizing assistance to estate sales and relocation, Caring Transitions supports customers with the highest level of care and professionalism.
By representing Caring Transitions as an owner, you will be representing a brand ranked #1 Senior Relocation Franchise by Entrepreneur magazine five years in a row. Your business’s success will speak to the legacy of the Caring Transitions franchise as a whole, so we are fully dedicated to providing you with all of the tools, knowledge, and ongoing support to see you thrive.
Caring Transitions looks forward to working with franchisees who agree that the most successful life transitions happen when care and compassion are involved. If this sounds like you, and you would like to learn more about how to start a relocation company with Caring Transitions, please visit us.
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