Does it feel like your moving company has plateaued and is not growing? Are you looking for ideas on how to grow your moving company business? One thing many business owners in the moving industry overlook is improving their company’s cash flow. Cash flow has to do with the amount of cash coming in and going out.
When you have problems with cash flow, you may not be able to pay your employees, pay your bills on time, and ensure you have money left to reinvest in your business. To grow your business, you do need to invest money into marketing strategies to attract customers, as well as training employees, equipment, and technology.
Tip #1: Do some networking to expand your reach.
Networking is reaching out to realtors, apartment complexes, and other such businesses to ask them to refer to your moving company when someone is looking for one. In exchange, you agree to refer people to their business when someone is looking for a realtor or new apartment home.
Tip #2: Consider leasing moving trucks instead of buying them outright.
If you are just getting started, it can be more cost-effective to lease your moving trucks. Leases typically have lower down payments and lower monthly payments, and they allow you to get new trucks every three years or purchase the truck at that time. Once you have established your moving company and steady customers, you can always establish your moving fleet then.
Tip #3: Limit the number of full-time employees you hire.
It is better to hire part-time employees if you do not have enough work to justify hiring full-time employees. Yet, you may want a few full-time employees to help ensure customer satisfaction is met.
Tip #4: Diversify your business to stay busy in the “off-season.”
During winter, moving companies are not in high demand. It is a good idea to have other services you can offer to generate income. For example, you could invest in a storage facility and offer storage unit rentals. Another option would be to offer holiday decorating services, where you help people decorate their homes for the holidays, and then come back after to help take down and put away the decorations.
Tip #5: Sign up with a mover matching service.
Mover matching services are great ways to generate leads for your moving company business. The service pairs you with potential customers looking for movers in your area and related moving services. It is easy to sign up and provides a great marketing tool too!
Tip #6: Add new services to complement moving services.
You could add new services for your customers to attract new business and increase cash flow. The services could be added to a move or simply used on their own, such as:
- Residential packing and unpacking services
- Commercial packing and unpacking services
- Decluttering/junk haul-away services
- Moving truck loading and unloading for people who want to do a DIY move but don’t want to load or unload their truck
- Home reorganization services like moving furniture around to reconfigure the living room
Tip #7: Offer a discount for customers who prepay for their moving services.
A great way to generate some cash flow and grow your business is to offer discounts for customers who prepay. By prepaying, you already have collected their payment whether their move or other services are scheduled this week or a month or two down the road.
By using these marketing tips for movers, you are sure to grow your moving company and increase your cash flow. To learn more about mover matching services, or to sign up, please feel free to visit MoverMatch.com today!