According to the U.S. Census Bureau, close to 37.5 million people moved residences in the US in 2010. Out of that group, 6.2 million people moved to a different state.
If you’re looking for the best way to make a living in this tough economy, catering to an in-demand market like the moving industry may be the break you have been looking for. Although starting your own moving company is a complicated task at best, here are several benefits to consider…
The Benefits of Owning Your Own Moving Business
While the recovering economy is a good enough reason to get your butt in gear and start your own business, there are several more advantages to consider in becoming a business owner:
- Shape your destiny. As an entrepreneur and owner of a moving company, you have the opportunity to change your future as you know it. Instead of working in a cubicle from 9 to 5, you’ll become the owner of a legitimate company and will be responsible for hiring employees and gaining clients.
- Set aside more time for family. If your job is taking away from your family time, owning your own business could provide you with the freedom you need to spend more time with your children and spouse.
- Embrace new challenges. For many people, working at the same job day after day is mundane and boring. If you want to look forward to going to work in the morning, becoming a business owner will provide you with a new set of challenges to tackle each day.
How to Start Your Own Moving Company
While it’s difficult to summarize every detail needed to start your own moving business, you can begin the planning process by reviewing the guidelines below:
- Draw up a business plan. If you’re new to the world of moving, you may have to hire an outside consultant to help you create a solid business plan for your new company.
- Review your resources. Before taking on your first client, you want to know that you have enough funding to purchase equipment, hire employees, and pay monthly bills.
- Get training. Although moving may seem like a simple enough task, professional training is necessary to ensure that you know how to move, pack, and load valuables and specialty items.
- Buy necessary equipment. This will include purchasing one or more professional moving trucks with the proper insurance registration, as well as moving equipment like boxes, dollies, packing supplies, bungee cords, and more.
Private transportation can be used for a number of purposes, offering chauffeured limo service to a special event or a hired ride to the airport in a shuttle. As the economy recovers, the outlook may be good for private transportation companies hoping to gain new clients.
Private Transportation Industry Growth Is on the Rise
It should come as no surprise then that chauffeurs are experiencing an above average employment growth rate of up to 20% expected from 2010 to 2020. The main reason for this spike in the growth of private transportation employment is an increase in public transportation systems throughout major cities.
What does one have to do with the other, you ask? Excellent question. Both taxi drivers and chauffeurs can expect higher than average employment rates as the need for drivers increases in major cities everywhere.
Individuals may choose to rely on both public and private transportation to forgo the use of personal vehicles altogether. As a result, professional drivers will be needed to privately chauffeur individuals and groups to business meetings, special events, and airport transfers; public transportation in the form of taxicabs and shuttles can be used to travel within a city, as well as to the airport.
Should You Start Your Own Private Transportation Business?
Clearly, there is a demand in major cities for private transportation companies that can offer shuttle and limo service for business transport and special occasions.
Before deciding to go it alone and start your own chauffeur business, it helps to understand exactly what it takes to get a private transportation company off the ground:
- Raise funds to purchase a fleet of vehicles. If you plan to start a limo business, for example, you will need to have enough startup capital to lease or purchase multiple vehicles to transport your clients.
- Apply for necessary licenses and permits. A private transportation business will require a tax identification number, a business license, and liability insurance at a bare minimum. Professional drivers will also need special licensing to transport multiple passengers, especially in a large shuttle.
- Advertise your services. Once you have waded through all of the red tape and are ready to take on clients, you must begin to market and advertise your services in your local area. Many professional transportation businesses do well by booking wedding clients, as well as corporate business clients for regular airport shuttle transfer.
Starting your own private transportation business is never an easy task, but it can be well worth the endeavor. As the private transportation industry continues to grow in major cities throughout the US, owning a chauffeur service could generate a lucrative source of income.