As the global recession affects many businesses and industries, an increasing number of people are forced to reckon with the reality of layoffs. The search for gainful employment can be a difficult and daunting task, and the idea of owning and operating a franchise might be both attractive and overwhelming.
The purpose of this article is to help those who have experienced a corporate layoff gain a better understanding of the franchise process and the Frequently Asked Questions (FAQs) about popular residential moving franchises. The International Franchise Professionals Group (IFPG) provides the reader with access to qualified and knowledgeable franchise consultants who can guide individuals through the franchise selection process.
It is important to note that any franchise investment involves substantial risks and individuals should consult with franchise brokers and attorneys, as well as franchisees in similar industries, before making any final decisions about a franchise. This article is intended to provide the reader with brief insights and general information about popular residential moving franchises.
This guide serves as an introduction to the residential moving franchise industry and outlines the most important considerations for investing in a residential moving franchise. The article also features helpful resources to assist individuals in the research and selection process.
Overview of the Residential Moving Franchise Industry
Residential moving franchises are franchised businesses that provide services to assist with moving people and their households from one location to another. This type of service has become increasingly popular as individuals and families often require assistance with packing, loading, unloading, storage, and even assistance with insurance.
Residential moving franchises are a great business opportunity for individuals who have experience in the logistics and transportation sectors. According to the American Moving and Storage Association, the total size of the local moving industry was estimated at 17.2 billion dollars in 2017. Although the market growth is expected to remain flat, the residential moving industry boasts a steady demand for services.
Frequently Asked Questions on Popular Residential Moving Franchises
Are there different types of residential moving franchises?
Yes, there are different types of residential moving franchises. Most franchises fall into either the local or long-distance category. Local franchises are usually smaller and are limited to a certain geographic area whereas long-distance franchises are larger and may service the entire United States or even multiple countries.
How much money is needed to invest in a residential moving franchise?
The cost of investing in a residential moving franchise can vary greatly depending on a number of factors such as location, number of staff, services to be provided, and marketing needs. It is important for investors to understand their specific needs and use accurate financial planning to make a sound decision. Generally, the cost to acquire a franchise ranges from $45,000 to $100,000.
Are there any restrictions for owners of residential moving franchises?
Yes, most residential moving franchises have certain restrictions on the services they offer. These restrictions may include geographic boundaries or the type of moves they specialize in. Some franchise owners may decide to offer additional services such as full-service moving, packing, loading, and unloading services. Other restrictions may involve the number of vehicles owned by the franchise and their respective weight and size restrictions.
What types of local marketing methods do residential moving franchises use?
Most residential moving franchises rely heavily on local marketing methods such as print advertising, radio and television spots, direct mailings, and email campaigns in order to reach potential customers. Additionally, many residential moving franchises have reached out to their local communities by participating in charitable events and donating services for fundraisers.
Investing in a residential moving franchise can be a great opportunity for individuals who are looking for an entrepreneurial venture. Residential moving franchises provide investors with a unique business model, a large customer base, and the potential for growth. It is important for those who are considering investing in a residential moving franchise to do their due diligence and ask questions in order to make an informed decision.
The International Franchise Professionals Group (IFPG) has more than 1,300 franchisors, franchise consultants and vendor members who are ready to provide individuals with knowledgeable and ethical advice on investments. The IFPG helps individuals find the right franchise business for them.