Do you know about the evergreen businesses? Starting a moving company is one of them. Consumers hire moving companies for both short and long-distance moves. Many people want to know how to start a moving company. Listen, you have found an evergreen business idea; the next step is the implementation.
For starting your moving company, this guide will certainly help you a lot. After following this guide, you can successfully establish a company, get it registered, and ensure that it’s legally compliant. So, without wasting any time, let’s find how to start your moving company business?
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10 Steps for Starting Your Moving Company
This step-by-step guide will help you run a moving company business.
- Create a Business Plan
Before starting any business, you need to create a business plan. There should be a proper direction and strategy for starting your moving company. When you have a business plan, you can answer the following questions to investors and banks:
- What moving services you’re going to offer?
- Have you done the paperwork for starting your business?
- Where do you want to start your moving company, and what will be your target market?
By having a proper business plan, you can forecast your business development, focus on opportunities, and address the potential problems. All these factors can set you apart from others. Moreover, drafting a good business plan can help you succeed in the saturated moving company business.
- Plan Your Business Structure
If you want to run a successful moving company, you need to go through various steps. There should be a formal structure for your business. You need to find out whether you want to start a business alone. The second option is to do a partnership with someone.
Moreover, you can establish a corporation and get it insured to avoid losses in the future. Finally, you can establish an LLC company, but for this, you need to pay higher legal fees and other expenses.
- Register Your Company
When you establish a legal business entity, you won’t be held liable personally if someone sues your company. This protection isn’t available in the sole and partnership model. Register your company in a state where you want to start your business.
Remember, for registration; you’ll be paying lots of state and federal taxes. The amount of taxes varies according to the business structure you choose.
- Open Your Bank Account
You might have a personal bank account, but you need a dedicated business bank account for starting a moving company business. It will provide you the personal asset protection. On the other hand, when you don’t do this, if someone sues your business, your personal assets will be at risk. Get separate bank credits cards on your business name.
- Hire an Accountant
You need an accountant for multiple tasks. The accountant can help you file taxes, and they can maintain a record of expenses and income. It will help you understand the performance of your business.
- Obtain Permits and License for Your Company
If you don’t get them, you’ll not only pay fines, but you may lose your business as well. You may have to register your business with the department of transportation. You can visit the official website of your state to learn about licensing requirements. In some states, you’ll have to get a license from both federal and local departments.
- Get Moving Equipment
It’s the most crucial step for starting a moving company. You will have to purchase a moving truck, van, and cargo van. It’s the main overhead investment. You can get both used and new moving vans and trucks according to your investment. The only thing that matters is, you need to choose the right moving vehicle according to the size of your business.
After purchasing a moving truck or van, the next step is to buy other equipment. You need a dolly for loading and unloading items. You also need bungee cords and ratchet straps. Moreover, if you want to offer full-moving services, including packing, you’ll have to purchase moving boxes and other packing supplies.
- Market Your Business
You can’t achieve your business goals without marketing your business. There are multiple options for marketing; you can ask your friends and family members to spread brand awareness. The best approach is to use social media for your company’s promotion. You can run paid ads to promote your business.
It’s the most important step. In case you damage someone’s belongings during a move, you will not face much loss if your company is insured. On the other hand, you’ll have to pay all the losses when you don’t get your company insured.
- Set Up GMB
Google My Business (GMB) is compulsory because it allows people to find you on Google. Moreover, they can get your contact number and contact you to get estimates. They can also hire you by using this feature.
So, by following these steps, you can start your moving company.