Starting a business can be an exciting yet daunting undertaking for potential entrepreneurs. It’s hard enough to make the decision to take that first step and begin the process of infrastructure setup, employee training, and customer acquisition. Having the support and guidance of a franchise can make the entire endeavor less daunting. Residential moving is no different – the question is just whether or not a residential moving franchise is possible. For husband and wife teams looking for time freedom and flexibility, this article will answer the common question of whether or not a residential moving franchise can be bought, and what the benefits are of joining a moving franchise.
The International Franchise Professionals Group (IFPG) is dedicated to helping would-be entrepreneurs invest in a franchise business. With more than 1,300 member franchises and further support of consultants and vendors, the IFPG remains committed to guiding aspiring business owners through the process of purchasing a franchise. A residential moving franchise also falls under this professional guidance and requires as much consideration as any other franchise model.
Notwithstanding this, the IFPG is not affiliated with any residential moving franchise, let alone endorse any particular one? To answer the question of whether or not a residential moving franchise can be bought, requires an initial understanding of the residential moving business and its model in the US. As for the benefits of putting up a residential moving franchise, this will be discussed later in the article.
What Is a Residential Moving Franchise?
A residential moving franchise is defined as a business opportunity that a franchisee/entrepreneur buys into to start a residential moving business. This business model focuses on moving households -locally and long-distance – using specially designed trucks and equipment for packing and loading of items. Usually, the franchisee owns the truck, equipment, and personnel.
A residential moving franchise is different from a full-service moving business, in that it doesn’t include packing, unpacking or loading services. Further, it doesn’t include services for commercial or business relocation. This makes it different from a full-service moving franchise, which usually offers both types of services.
How Can I Buy a Residential Moving Franchise?
The process to own and buy a residential moving franchise is no different than any other business decision process. Potential franchisees must do their due diligence to evaluate which franchises are available and which one best fits their needs and goals.
Generally, this process begins with determining the desired type of business and whether or not the local market can support it. From there, the work of research begins with gathering the relevant information about each franchise, gathering the necessary capital, and gauging any local regulations that might apply.
Aside from this groundwork, there are a few common elements involved in buying a residential moving franchise. The franchisor usually requires the following:
- Verifiable financial options for funding the franchise.
- Proof of technical and operational qualifications.
- A clean background check.
- The ability to meet or exceed their guidelines and standards.
For husband and wife teams looking to transition from their current career, the addition of a residential moving franchise would be a great option to capitalize on their familiarity of the business and begin earning residual income.
What Are the Benefits of Owning a Residential Moving Franchise?
Before buying into any franchise business model, it is important to understand what is in it for the investor. This is especially true for husband and wife teams who are in need of gaining flexibility and time freedom.
Residential moving franchises offer a great opportunity for investors who need to balance their current careers but are looking for a business opportunity that can fit within their current lifestyle.
The benefits of owning a residential moving franchise include:
- Maximizing schedule flexibility, while still finding time for personal obligations.
- Being your own boss and having financial freedom
- Creating more time with family and friends
- Maximizing profit potential
- Having an ongoing support system
- Harnessing the industry experience from the franchisor
In addition, people who are already familiar with the residential moving industry may find it easier to transition into ownership of a residential moving franchise, as they already have experience with the products and services that are offered.