Do you want to start a moving company? Here in the article, we intend to explore how to start a packers and movers business in India.
The moving company is an emerging business in our country. The demand for moving companies is increasing very fast. Therefore, starting a business in the relocating industry is a lucrative opportunity for new entrepreneurs.
For several reasons, people look for professional moving companies. Some of the most common requirements are home relocation, office relocation, international moving, and car transportation. Basically, rapid urbanization and industrializations are the major reasons for the immense growth of this industry sector.
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Is Packers and Movers Business Profitable?
Home Relocation has become part and parcel of one’s modern life. Generally, people relocate for professional needs. And even for a small family, it is highly tiring to relocate with all the household appliances and materials. And people prefer to depend on professional packers and movers rather than a local transport company.
Like any other business, starting a moving company also demands a lot of research and hard work. However, the business has immense potential for expansion also. Basically, you can start the business in two ways. As an easier option, you can start the business as a franchise. You can find a lot of brands offering franchise opportunities. Otherwise, you can open your own brand. This article will help you in starting your own packers and movers business.
8 Steps to Start a Packers and Movers Business
1. Select a Business Model
Basically, a business model can make or break your moving business. And the business model must fit your investment capacity and business size. Some of the major deciding factors are the area of operation and the target audience.
From the very first day, you have to determine your area of operation. Whether you starting within the state or interstate or internationally. Additionally, determine whether you will offer a single service or multiple services. Because the other aspects will highly depend on these factors.
2. Create a Packers and Movers Business Plan
It is essential to write a packers and movers business plan as it works as a roadmap for the present and future company activities. Some of the topics that you must address are the following:
- Market Information
- Why do you want to open a packers and movers business?
- Advantages of the area you have chosen.
- Details of location
- Funds Required
- Source of Funds
- Cost Break-up
- Profit Projection
- How do you plan to promote your bookstore?
3. Packers and Movers Business Compliance
Starting a moving company demands licensing and permissions from several Govt authorities. In addition, you have to register the business also. It is advisable to check your state law. Here we have compiled basic guidelines.
- First of all, register your business. You can start the business as a proprietorship, partnership, or company formation.
- You have to obtain your company PAN card. And open a current bank account at your nearby bank.
- After registration, select the name of your business. It is advisable to protect the name with Trademark. When selecting the company name, you must check the domain availability also for creating your business website.
- Apply for Udyog Aadhaar MSME registration. You can register for multiple locations also.
- As this is a service-based business, the business attracts service tax registration. However, currently, you have to file tax under GST.
4. Arrange Funds
Financial planning is the most important aspect of this business. Though it is a service-based business, it demands investment in equipment and vehicles. Even you need to put an investment in raw materials also. According to your size of business and area of operation, you have to procure equipment and vehicles. Additionally, calculate the cost of packaging materials and staffing. Finally, determine the operational cost and marketing expenses.
Generally, auto finance is available widely. And you can purchase the vehicles with that type of financial assistance. And in this case, you can get entire assistance from a vehicle dealer point. However, for other expenses, you can avail working capital loan as a cash credit.
5. Staffing & Training
Staffing is one of the most important operational aspects of this business. You must have an effective core team to start the business successfully. Depending on your needs, plan for hiring. And hire experienced and skilled employees. Additionally, employee training is an essential factor in this business.
Shifting a home isn’t about shifting goods or it isn’t about money. A person is shifting his or her memories with these goods. And memories always have emotions associated with them.
Before you start offering your services, fix the pricing structure. And definitely, you have to offer customized solutions. In this type of business, pricing depends on several aspects. These are distance, weight, hours, or the number of items.
In calculating rates, think about the expenses that you need to cover before you can make a profit. The different type of costs includes fuel, vehicle maintenance, depreciation, packing materials, employee wages, advertising costs, and insurance expenses. However, you have to offer competitive pricing too.
7. Packers and Movers Operation
The operational part is the most important aspect of running a packers and movers company. Before you start to accept any work, you need to make sure that your company is ready for operation. First of all, you have to craft a contract paper. For this, you may consider consulting with an efficient lawyer. Additionally, you must have the right software for this detailed-oriented business. Keep your books of account ready for yearly tax filing.
you must have a marketing plan. If you can’t do this, take professional help. However, here we have provided some basic tips. Nowadays, maximum customers search for this type of service online. So, it’s essential to have a user-friendly website. Your website must include your business information, contact details, and quoting process. It is better to have an online quoting system.
Make your business available in online directories. Check the free advertising platforms. However, you must go for paid advertising also. In addition, you must consider branding. Create a brand logo. You can also use your vehicles for branding. Consider having your own company uniform. There are a lot of small things you can consider in establishing your packers and movers company as a reputed brand.