It is the goal of every business, including moving companies, to grow their scope and increase their revenue. However, the question is always how best to do this. And this only becomes more troublesome the longer your moving company has been running. After all, when you are just starting out, the market might seem oversaturated with opportunities that are just out of your reach. Yet, as you expand and grow, it often looks like there is simply no good way to move forward with new avenues of growth. And yet, so long as you know what to look out for, there are always some opportunities you can take advantage of! To help you figure out the best way to go about this, we present to you 5 sure ways to increase moving company revenue.
Cooperate with real estate agents
Having a solid relationship with the local realtors can massively help your attempts to increase your revenue. You don’t even need to insist they recommend your moving company! You can simply approach them with a request to direct their customers to your moving estimate app. This way, the real estate agent isn’t pushing their own agenda on their customers while still offering them valuable help. After all, knowing about the costs associated with moving to a new home is very useful.
Alternatively, if you run a successful and interesting blog, the realtor can direct their clients to it. The clients would get to benefit from the wealth of useful information that can be found there, and you would get more traffic on your site. Do not discount the importance of such help, either. It may not secure you a guaranteed customer, but it massively increases your chances of getting one.
Lease out your equipment
When looking to expand, it is actually much harder to find the right employees than it is to secure equipment. If you are struggling with finding enough qualified employees, but have more than enough equipment at the moment, then one of the easiest ways to increase moving company revenue is to take full advantage of your resources! After all, there are plenty of startups and small businesses out there for whom investing in a truck purchase is just too expensive.
At the same time, they do require one in order to effectively perform their jobs. You can easily slot into their needs by offering to lease out any trucks or other necessary equipment that you are not currently making use of. This way, you can make the best of the situation and start making all that equipment profitable while taking the time to find the best possible employees.
Make smart investments
Sometimes, one of the best ways to increase moving company revenue is through smart investments. Take moving company advertising, for example. It is impossible to really expand your business and increase your revenue without making use of it. However, in order to do it effectively and not just lose money on bad marketing strategies, it is important to know what you are doing. This is why investments are not only about marketing and equipment purchases.
Sometimes, you need to invest in the education of your employees. There are plenty of seminars out there that your employees would benefit massively from. And, in turn, they could use their newfound knowledge in order to help your moving company make even larger profits! The trick, of course, is in choosing the right employees for training. You want to pick those who are not only good at their jobs but also obviously motivated to learn and advance.
Improve the quality of your services
Of course, one of the surefire ways to increase moving company revenue is to increase the appeal of your services. And the way to do that is to continue to upgrade the quality of service you offer. This does require some investment, yes. But it doesn’t need to necessarily be monetary in nature. You can work to improve your customer service. You can try to enhance the image of your company as reliable and friendly to all clients. Or even work more on your online presence!
Optimizing your site to make the best possible use of SEO for movers is one such step, and it would also come with the benefit of making you much more visible to random online searches. There are plenty of routes to success other than constantly buying newer and better equipment, and it is up to you to research and take advantage of them all.
Diversify your revenue
It’s all well and good to specialize your services. After all, only by focusing on something can you perfect your way of doing business. However, this might actually make you lose out on a lot of potential profits. If you focus only on long distance moves, you would be entirely ignoring the rich market for local moves. So, what you really need to do is diversify the sources of your revenue! Of course, it is still fine to have a focus.
Just because you are expanding the scale of your business and looking into moving trends does not mean you would just abandon your current customer base. Similarly, you should not immediately try to branch out in every direction. Start small first before expanding outwards. Dedicate only one or two teams to local moves at first, for example. This way you can scout out the market and minimize potential losses.
Some more considerations
You probably feel ready to try out your hand after reading about the 5 sure ways to increase moving company revenue. However, remember that, before trying to branch out and find new sources of revenue, your first goal is to stabilize your current customer base. This is why it is often smarter for moving companies that are just starting out to focus on what they are familiar with and good at.
