Business Expansion to Fill the Gap
By John O'Connor
When looking to expand your business you have two distinct avenues of growth. Those two avenues are expansion and diversification.
Expansion would be to go out and get new customers. Although this will grow your business, it will not resolve one of the major issues of owning a moving business which is its cyclical nature. If you are bound to only household goods moving, you will always be fighting busy summers and slow winters.
Expansion to reduce cyclical nature of the industry would be the traditional businesses like office moving, trade show and exhibit storage, hotel storage and installation, and other similar tasks. These opportunities are certainly available, but how about trying something new?
I'm sure most people in the industry have seen the amazing growth of large distribution warehousing being put up throughout all metropolitan areas. This growth and warehousing have been spurred on by the explosion of internet sales. The current pandemic has only accelerated the transition from the big box store to home delivery.
You have a warehouse, you have trucks, and you have skilled personnel who are familiar with going into people's homes. You are truly set up to diversify into this business. The best way to attack this business is to make yourself unique. You're not looking to compete with Amazon and drop packages at the front door. You should try to provide the services for companies that require inside installation or assembly of their product. This might be products such as exercise equipment or furniture. These items sound familiar. These are items your movers are already handling and doing this type of work is often the missing link between the retailer and the end user, whether a company or a family.
This is not a big leap for a moving company but it can provide unlimited growth potential in this emerging market segment.