I know what you’re probably thinking. The moving industry… Why? With the country’s recent economic struggles, this business sector might not be the first to jump out at you; however, it should be. The moving industry is expected to grow over the next five years, bringing in more than $17 billion in revenue. 2014 will see over 14,000 companies within the industry, raking in increased profit margins of 5.2 percent (IBISWorld, January 2014). It’s an evolving industry, creating a vast array of possible employment opportunities and even more revenue.
The trends following the industry aid in this projected growth and show no current signs of stopping.
Although the housing market took a sour turn in 2009, it’s back on the rise in 2014. As this market continues its impressive trajectory, the amount of people needing moving services does, too. This year, the average household disposable income as well as housing starts are projected to increase. This increase in extra cash, coupled with people’s desire to move from their old homes into new ones, will create a greater need for moving services. The increase in housing starts is huge, as typically people who are downsizing don’t often seek extra assistance that will rely on extra costs. This year will see a strong increase in housing starts, ultimately making moving services a hot commodity.
Just as couples and families experience growth and the need to relocate, so do businesses. More and more major brands are experiencing growth, forcing them to adjust their business structures to accommodate expansion needs. Business move profits are expected to increase by 4.1 percent throughout 2014. These business to business moves will allow you to have an enhanced profit and in conjunction, an enhanced revenue.
TWO MEN AND A TRUCK®’s corporate office in fact recently sought a business move. We reached over 100 employees, resulting in the need for a larger space to accommodate this growth. The office is currently under construction as a 20,000 addition is being connected to the existing building, areas on the inside are being expanded, and movers are shuffling in and out with new furniture, all while employees are going on about their daily routines! The company may have had a slight bias, but it’s a pretty safe bet as to what moving service they used.
To further answer the why about getting into the moving industry, why not? These current trends are expected to grow throughout the upcoming years and will provide promise for those who are part of it. In a nut shell, the moving industry will see $15.5 billion in revenue and $805 million in profit, with the expectation of these numbers to rise over the years (IBISWorld, January 2014).
TWO MEN AND A TRUCK® knows all about this growth. The company ended 2013 with 18.8 percent growth over 2012 and more than $300 million in revenue. We know and understand these current trends. We’re excited for the increases that are forecast for the future and we show no sign in stopping anytime soon. So, why not be a part of the industry?
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