With low barriers to entry, steady demand and reasonable profit margins, the moving industry is an attractive space for many entrepreneurs. In this business plan sample we will provide a detailed summary of a moving company business plan sample.
Relocating to a new place can be a daunting task, but luckily there are moving companies that specialize in making the transition as smooth as possible. A moving company is a service-based business that offers professional assistance to individuals and businesses who are moving from one location to another. From packing and loading to transportation and unloading, moving companies handle it all. They can provide local, long-distance, and even international moving services, as well as other helpful extras like storage and packing supplies. However, with intense competition in the industry, starting a moving company requires a substantial investment in vehicles, equipment, and staff to provide top-notch services.
Are you interested in starting a moving company? Before you begin, it’s important to have a solid plan in place. A well-crafted moving company business plan is a key document for any startup. It outlines the strategies and goals necessary for starting and operating a successful moving company. Your plan should include a detailed description of your business, your target market, and the services you will provide. You’ll also need to research the required licenses, permits, and insurance necessary to operate legally, as well as develop a marketing strategy to reach potential customers. With careful planning and preparation, you can start a thriving moving company that provides top-notch service to clients.
To elaborate on the significance of developing a business plan for a moving company, it should be noted that the process of starting such a company can be quite intricate and demands thorough planning and implementation. The moving company business plan is a crucial document that outlines the company’s vision and objectives. The initial section of the plan is the executive summary, which presents the company as a family-owned enterprise that caters to both residential and commercial customers for local and long-distance moves.
A successful moving company requires a thorough understanding of its target market. As such, the business plan for small moving companies should identify potential customers, including individuals and businesses in the local area in need of moving services. The company should provide a range of services, such as packing, loading, unloading, and unpacking, and consider offering storage options for customers who need to temporarily store their belongings.
Starting a moving company involves significant startup costs, which the business plan should outline in detail. These costs include purchasing a truck and equipment, obtaining licenses and permits, and marketing the business. The company may seek to fund its startup costs through personal savings, small business loans, and grants.
A comprehensive marketing strategy is critical for a successful moving company. The business plan should detail online and offline advertising strategies, including social media and local networking events. The company should aim to differentiate itself from competitors by providing exceptional customer service, targeted moving company advertising, and personalized attention to each customer.
From identifying the target market to creating a comprehensive marketing strategy, a successful moving company requires careful planning. But the key to long-term success lies in financial planning. That’s why a well-written business plan must include financial projections for the first three years of operation, aiming to break even in the first year and generate a profit by the second. With a solid business plan, any entrepreneur can confidently launch a successful moving company and achieve their goals.
1.0 Executive Summary
“Chaseville Moving Corp.” operating as “Chaseville Moving” (The company) was incorporated in the state of Florida on November 30, 2020 by Founder and President, Pat Steele. Chaseville Moving is involved in the moving industry within the Miami area.
The company is seeking to enhance its presence in the area with the acquisition of a company truck. Currently Mr. Steele is renting a moving truck, which is slowing down the growth of the company, and adversely affecting the gross profit of the business. With this $45,000 loan through the Small Business Administration, Chaseville Moving will purchase a Hino Moving Truck, thus freeing up cash flow to make payments, market and grow the company.
The moving services industry in America is approaching the billion dollar mark, registering $936M in revenue in 2020 with a fair gross profit margin of 10.8%. The industry is characterized by a high level of competition, and relatively low barriers to entry, with Florida home to the largest share of industry establishments, at 41.7% in 2020.
In addition to being the most populated state in America, with 38.8% of the total population, Florida is also home to the nation’s largest city, Miami, as well as its capital, Tallahassee. As a result, Florida is the largest market for the industry, driven by private consumers and real estate activity. Moreover, a significant portion of the country’s economic activity takes place in the state, resulting in a steady stream of businesses in need of warehousing, office relocation and other industry services.
This business loan will allow the company to begin investing in its own equipment and pave the way for a multi-truck moving business in America’s most populous metropolis region, Miami.
2.0 Business Overview
Currently, Chaseville Moving is a one truck company that is primarily operated by Owner, Pat Steele. Mr. Steele utilizes contractors on a case by case basis depending on the demand of the job. The business operates in the area, and is involved in the moving industry.
2.1 Industry Overview
The Moving Services industry in America provides relocation services to households, governments and commercial clients. While steady economic expansion has supported revenue growth, declines in corporate profit and volatile oil prices have limited commercial demand for industry services. Industry revenue has also been buoyed by improvement in the American housing market, which has recently experienced growth in the value of residential construction and housing starts.
Moving services are typically considered discretionary purchases, as private consumers have the option of renting vehicles on their own or seeking alternative methods of transportation. Therefore, demand for industry services has been supported by a rise in per capita disposable income enabling more consumers to invest in professional moving services. Moreover, growth in the number of housing starts through much of the period has bolstered the industry profit margin. However, these positive trends have been offset by falling levels of corporate profit, which have prevented the industry’s downstream commercial clients from leasing new offices and hiring moving companies.
Industry performance will depend on a variety of factors over the five years to 2025, including levels of housing formation and overall macroeconomic recovery. Oil prices will likely rebound over the next five years, providing relief to oil-producing regions and spurring broad-based economic growth.
Moreover, both per capita disposable income and corporate profit are expected to rise over the five years to 2025. Additionally, the housing market is expected to gain steam as the economy recovers from the coronavirus pandemic. Ultimately, industry revenue is projected to increase at an annualized rate of 3.8% to $1.2 billion over the five years to 2025.
2.2 Mission & Vision Statement
Marathon Mover’s mission is to provide a superb moving experience at a competitive price in the area market.
Marathon Mover’s vision is a moving industry where consumers have access to professional, reliable service providers with reasonable rates.
2.3 Goals and Objectives
Chaseville Moving has the following goals and objectives:
- Secure a $45,000 loan through the SBA
- Begin a Google Ads marketing campaign
- Hire 2 Full-time staff members
- Receive 30 positive Google reviews by the end of the 2022
2.4 Key Success Factors
The following factors will be paramount to the company’s success:
- Daily scheduling of operations for future projects
- Knowing when to take our time, and when we can be efficient
- Building a strong rapport with clients and staying in touch
- Keeping adequate cash flow on hand at all times
Helping customers at their homes or businesses, our movers will prepare items for transportation to another destination. On a team with other helpers, they prepare, load, and unload items, and some also drive the moving truck. Our movers work a physically demanding job that requires heavy lifting, and they sometimes work on nights and weekends to meet customers’ requests. We look for candidates who are physically able to do the work and provide the necessary training for qualified individuals.vvBased on the services our company provides these duties include:
Pack and Prepare Items
At the destination, movers help prepare and pack customers’ items to prevent damage during transit. Their tasks include taking apart furniture, wrapping items in bubble wrap or stretch wrap, putting loose items in boxes and sealed bags, and using straps and cardboard sheets on large items.
Load and Unload Items
Movers use equipment like dollies and ramps to load customers’ items from their buildings to the moving truck. They arrange items in the truck to fit the load and prevent objects from falling or getting damaged. At the destination, our movers take the items off the truck and place them in the location the customer requests.
Keeping track of the customer’s items to make sure nothing gets lost or damaged is an important responsibility that movers have. We write down a description of each package or item at the customer’s location before starting loading. Then we check the inventory when the destination is reached to ensure all items are unloaded.
Handle Customer Requests
Movers also answer customers’ questions and address requests they have for how they want items packed, loaded, and unloaded. They also provide information about price and time estimates and address any concerns that the customer might have.
2.6 Management Team
SUMMARY OF QUALIFICATIONS
- Safety Certificate: CSTS, OSSA, PST, WHMIS, Fire Watch, First Aid / CPR, Fall Arrest, Confined Space, and H2S Alive certified
- Proven team leader with excellent communication skills
- Ability to read blueprints and technical specifications
- Capable of installing, maintaining, troubleshooting and repairing stationary industrial machinery and mechanical equipment to some degree
- Capable of aligning any coupled power-source equipment with other equipment using a dial indicator, laser or straight edge
2020 – Present
Owner / Operator
Tire Co 2018-2019
Installed and replaced tires onto vehicles
Stocked shelves and replaced old product with new items
Raised vehicles in preparation for mechanic work
Private Self Employment 2018
Demolition work- removing walls, insulation
Cleaning debris and maintaining the site
Apprentice Millwright – Suncor Energy (Base Plant) 2016-2017
Syncrude America (Base Plant), Fort McMurray, AB 2015-2016
Installed ,maintained, aligned and fixed various different types of industrial machinery such as turbines, pumps, conveyors, blowers, motors and gearboxes
Aligned different equipment using straight edge, dial indicator/ lasers
Replaced mechanical seals, bearings, and couplings on different machinery
Overhauled and fixed various different machinery that were critical to production
Replaced oil and filters
Safety Watch, HSE, Fort McMurray, AB 2013-14
Properly maintain and use PPE as noted in each procedure and encourage workers to do the same
Ensure all incidents/accidents are reported and investigated immediately
Warehouse Worker, Damco – United Safety (T. Agency), Miami, ON 2011-12
Operated hand truck to move heavy objects, maintained warehouse premises neat, clean and tidy
Technical Training School 2016
High School Diploma 2014
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3.0 Products & Services
Chaseville Moving provides the following services:
Commercial moving jobs tend to involve commercial real estate properties with specific rules. They often require different equipment and have strict timelines. The logistics of a commercial move can be complex.
Average Price: $1,600 + GST
Residential moving jobs, also known as moving, or moving house, is the process of one or more individuals leaving one dwelling and settling in another. This can be to a nearby location in the same neighbourhood, a much farther location in a different city, or even to another country.
Average Price: $900 + GST
A move is considered a long-distance move when it is over 400 miles. Any moves that travel less are considered local moves. They are also referred to as a cross-country move, or a long haul move, depending on the distance of the move as well as its destination.
Average Price: $3,000 + GST
A micro move would be considered a move within the same building or to a new location within walking distance. They can also be a single item relocation or even in-house moving.
Average Price: $120 + GST
The company helps people and businesses move their goods from one place to another. It offers all-inclusive services for relocations like packing, loading, moving, unloading, unpacking, arranging of items to be shipped.
Miami is one of the greatest cities in the world to do business, consistently ranked at the top when it comes to global competitiveness, innovation and quality of life. Very few cities in the world can offer such multi-sector strength, depth of talent and a driving economic and financial engine.
With 2.8 million residents, Miami is the 4th largest city in North America. One-quarter of America’s population is located within 160 km (100 mi.) of the city and more than 60% of the population of the USA is within a 90-minute flight.
The City of Miami’s economy comprises 11% of America’s GDP, with Miami’s GDP topping $151 billion. Miami-based businesses export over $70 billion in goods and services to every corner of the globe with retail sales of $62 billion annually.
Five of America’s six largest banks have their headquarters near the country’s busiest stock exchange. Centred in North America’s 3rd largest financial services centre are 75% of America’s foreign banks, and 65% of the country’s pension fund companies.
Moving van, Moving dolly, Furniture sliders, Moving blankets and pads, Moving straps and rope, Protective Gloves, Toolbox (Tool kit)
5.0 Market Overview
Residential demand for moving services is primarily driven by the overall level of activity in the housing market, such as the number of housing starts and total expenditure on residential construction. Both existing home sales and the value of residential construction have grown consistently over much of the past five years, helping demand and revenue for both small and large industry operators.. The expansion of the housing market has positively affected industry operators, as demand for moving services rises alongside renewed housing activity.
Similarly, corporate demand for moving services is highly dependent on the total number of establishments in America, as well as overall levels of corporate profitability. As new enterprises and establishments arise in the American economy, the industry’s total customer base expands, likely increasing demand for industry services. The number of businesses in America is expected to increase at an annualized rate of 0.8% to 1.3 million establishments, enabling many industry operators to expand their services for corporate clients.
The Moving Services industry in America is characterized by a low level of market share concentration, with the industry’s three largest players accounting for an estimated 33.3% of total industry revenue in 2020. Most industry players are small-scale operators that participate in this industry as agents or subcontractors of larger companies or as local moving companies. Market share has declined slightly over the five years to 2020. Large operators did not fare well during the downturn and these national operators had to scale down operations to focus on profitable businesses. As a result, the market share of very large operators has declined, contributing to a lower level of concentration in this industry.
AMJ Campbell International
Market Share: 14.0%
AMJ Campbell International (AMJ Campbell) is one of the largest moving companies in America and was founded in 1934. The company provides residential moving, corporate relocation, office moving, logistics and storage services, including international moves. In addition to America, AMJ Campbell also operates in Florida, providing moving services to consumers and businesses internationally. The company is headquartered in Mississauga, ON, and operates eight business divisions across 50 locations in America and the United States. Of these locations, 27 are in America, spread across all 10 states, though many are concentrated in the eastern portion of the country. The company is also estimated to employ over 2,800 people in 2020.
Atlas Van Lines (America) Ltd.
Market Share: 10.1%
Atlas Van Lines (America) Ltd. (Atlas Van Lines America) is an affiliate of the Atlas World Group Inc. (Atlas World), a family of companies that provides transportation and moving services through a network of more than 430 agents. Headquartered in Evansville, IN, and founded in 1948, Atlas Van Lines Inc. (Atlas Van Lines), Atlas World’s flagship subsidiary, serves markets for global relocation, benefits, recruiting, logistics and travel in the United States and America. Atlas World also has service partners operating in over 140 countries. Atlas Van Lines is one of the largest interstate motor carriers in the United States and offers various services, including household moving and storage, corporate relocation, international moving, government and military moving and logistics.
The company participates in the American Moving Services industry through Atlas Van Lines America. Atlas Van Lines America is headquartered in Oakville, ON, and comprises over 140 agent moving companies that specialize in household moving, corporate relocation and storage. The company employs an estimated 75 full-time workers in 2020 and has been operating for more than 55 years. Atlas Van Lines America maintains locations in all 10 states and three territories. It is also a member of both the American Association of Movers and the American Employee Relocation Council.
Market Share 9.2%
Based in Oakbrook Terrace, Illinois, Sirva Inc. is one of the largest moving companies in the world, with a network of more than 1,475 offices in over 170 countries, including America, of which 75 are owned by the company. Sirva provides moving services through a network of agents that own trucks used in the moves. These agents are also responsible for the packing, hauling, storage and distribution of household goods.
5.2 Competitive Advantage
Chaseville Moving competitive advantage is its low-overhead and lack of liabilities. By having minimal costs the company is able to be nimble, respond quickly to changing conditions, and customize its service to each respective customer.
5.3 Risk Analysis
Housing Market Crash
Chaseville Moving is focused on providing reliable and cost effective moving services. In the situation that a housing collapse takes place, the company will be much less affected than the competition, and has an opportunity to in fact gain business by a surge in consumers seeking lower priced services. As well, the company can shift its focus to delivery jobs to offset any loss of moving jobs.
Key to the operation of the business is the safety of their company truck, both for their personnel and for the goods that are being moved. The company will ensure through safety checks and proper maintenance that their truck is always in top operating condition.
This is a major risk in the moving industry and the company will always ensure that all boxes are correctly packed before they are loaded on the truck. In the event of damage to any article the company will settle any claim in a timely manner in order to achieve customer satisfaction. Furthermore, if the company’s staff identifies any items that are damaged prior to moving them they will be recorded and photographed to mitigate liability.
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6.0 Sales & Marketing Plan
Chaseville Moving will focus on small scale residential moves in the area.
6.1 Key Channels
The company will develop a clear and responsive website which will contain all the information a potential customer needs to help them make an informed purchase. As well, the company will operate on social media channels including Facebook, Instagram, and Twitter. On these platforms the company will share special promotions and share testimonials and helpful links. The company will maintain a constant presence on Craigslist and Kijiji.
6.2 SWOT Analysis
7.0 Financial Projections
7.1 Capital Requirements
7.2 Income Statements
7.3 Cash Flow Statement
7.4 Balance Sheet