This guide has supplied you with numerous tips for success that are designed to help you plan, launch and manage your moving business. Add the following general tips that can make your life as a business owner more effective and profitable.
1) Consider Expanding Your Market and Services
Make your firm more stable by expanding into new markets or adding products and services to your marketing mix. If you discover that you have many clients in a particular area, consider setting up a satellite office in that area. When you notice that the majority of your customers are moving to a particular area, you should consider opening offices there as well.
You can also branch into services such as junk hauling that can make efficient use of your vehicles and staff during slow periods. Similarly, stay alert for any people or businesses that need to move equipment or materials from one place to another such as general contractors and traveling markets. Keep an open mind and you might find surprising opportunities to expand your business beyond standard moving services.
2) Offer Fair Pricing
If you try to earn too much of a profit, your customers will perceive you as unfair and will hardly recommend you to others. Set your hourly rates for services and flat rates for materials as low as possible, so everyone who deals with you recognizes your brand as an exceptional value. Set your prices to cover your expenses and earn a profit while staying reasonably priced compared to competing firms.
Always keep an eye on your accounting reports so that you can promptly adjust your pricing if you begin operating at a loss. Should you at any time discover that you cannot earn a profit while charging competitive rates, review your business plan and find out where your operation needs to improve.
3) Invest in Efficient Team and Equipment
Resist the temptation to take shortcuts. Perform regular inspections and maintenance on your vehicles, for example, to extend their life and to ensure their availability when you need them. Also, consider paying a high enough wage to attract quality workers and drivers who have experience in the moving business. Although doing so might increase your payroll costs, you will save on training expenses and have fewer accidents.
4) Keep Your Overhead Costs Low
Take practical measures to keep your overhead and other expenses low. Save money by buying supplies and equipment from moving companies that are going out of business. Buying used vehicles, office furniture and equipment can also help you control your costs. If you slowly get started, consider postponing the purchase of a vehicle by using rentals. You should also hire as many part-time employees as possible to control your payroll expense.
5) Make Sure the Customers Know Your Business Is Legitimate
Inspire the confidence of your community and customers by joining the Canadian Association of Movers (CAM) and other industry organizations. When you have such memberships, you show people that your company meets all the minimum standards for a moving company. Also, get the training you and your team members need to do good work, even if you must pay for it. When you have a high level of competency, your business will stand out from others.
6) Establish Brand Recognition and Customer Loyalty
Make your company memorable by choosing unique and catchy brand names and designs. People should have positive feelings when they see your logo and have an easy time remembering the name of your company. Keep your creative designs simple, so they describe your business without causing confusion.
Define the values and culture of your business, and find ways to intentionally exhibit them to your customers. Use social media to get feedback and reviews from your customers, and use the information to optimize your operation. Also, whenever possible, use testimonials on your website and other marketing materials to help create personal connections with prospects.
7) Never Underestimate the Importance of Customer Service
Always emphasize excellence in customer service. Doing so will encourage repeat business that will increase your profitability, and build a stellar reputation that will form a foundation for a secure and soaring business career. Make sure that your team always treats customers and their possessions with care. People feel nervous when strangers are in their home, so they will forever remember an experience that made them feel peaceful, safe and secure.
Remember to educate your customers about every step of the moving process. Checklists and tip sheets can also give them something to review when they feel uneasy. Always be ready to provide support and guidance, so no one feels alone during one of the most stressful periods of their life.
8) Ensure a Consistent Supply of Leads via Networking
To achieve operating continuity, make sure you spend sufficient time acquiring new leads. Also, you must gather leads from as many channels as possible. When you join forces with businesses that operate in related markets, you can attract leads that are more likely to soon need moving services. For example, real estate agents and property management firms have clients who likely need to help moving either in or out of a residence. Furniture stores without in-house delivery services can also send you valuable referrals.
Expanding your reach beyond your prospective customers will give you a way to reach more people who are ready to move. Especially during off-peak seasons, reaching out in ways that expand your audience can result in massive future payoffs. After enlisting other business owners as advocates for your brand, you should go further by finding area bloggers who can interview you, feature your business and publish content that can elevate your brand in the community. Even after you pay referral commissions, your company will benefit from a healthy flow of customers and cash.
9) Choose to Advertise Wisely
Finding the best deal for a particular media might take time, but it can also save money. Only choose advertising opportunities that support your marketing strategy. Often, you can use introductory offers and other specials from advertisers that can help you stretch your budget. Always study all available market and advertising statistics so you invest your money in media that will get you the best possible results.
10) Reduce Stressful Situations
Stress is a killer, so make sure you do everything possible to reduce the frequency and intensity of stressful situations in your business. If you have a job scheduled for the next morning, get ready the night before. When you have your vehicle, materials and staffing in place ahead of time, you can keep your schedule without delay.
When problems arise, stay calm. Remember your leadership role and demonstrate the qualities of a professional mover. Stay flexible and work with people to arrive at acceptable solutions. You should also make sure you get ample rest after work so that you can begin the next day with the energy and enthusiasm needed to run your business.
11) Be Prepared for Complaints
Get ready to hear complaints from your customers and employees. Avoid a defensive posture by recognizing the value of the feedback you receive. You should also set an example for your staff so that everyone who works for you knows how to react to confrontations.
When your company does something that angers a client, for example, you can modify your procedures to prevent a similar situation to recur. Do the same for your employees and your responsiveness will result in good reviews and a high-performance staff.
12) Stay Focused and Keep Learning
If possible, work with another moving company to get some experience before you try to do the job yourself. Doing so will help you teach your employees and give you a starting point from which you can improve upon to make your company more efficient and profitable. Never act as though you have learned enough about the moving business. Instead, sign up for industry newsletters and magazines, and participate in trade associations. Doing so will keep you informed about industry trends and educate you about the expectations of your customers.
Your ongoing learning should include more than industry-specific activities. Consider attending online or night classes to learn more about business administration, marketing, finance and other subjects that are vital to your success. Stay focused on the information and the tasks needed to increase the strength of your firm. Finally, remember to always monitor your competitors to make sure you always maintain a competitive edge.
Use the above tips as well as the others that you have learned to make your moving business a successful and enduring enterprise. When you keep costs low, satisfy customers and spend money wisely, you will do more with less while supplying impressive value to your market.