Starting a Moving Business with entrepreneur Wade Swikle. How to start a moving company and consider a moving business franchise.

Wade shares his inspirational entrepreneurial story – starting his moving company while in college with just $600 and growing it to a multi-million-dollar business and offering franchise opportunities in the moving industry. This episode is all about starting and growing a moving company.

Wade Swikle is the founder and CEO of 2 College Brothers Moving, Storage and Franchising, host of the Grow Your Moving Company Podcast, and co-founder of Moving Titan Retreats. Wade’s entrepreneurial adventure began over a decade ago when, as a student at the University of Florida, he embarked on a path to create his own moving company armed with just $600 and a pickup truck. Against all odds, he transformed his humble beginnings into a multi-million-dollar business with multiple locations.

Wade is a 2 time graduate from the University of Florida, with a Master’s Degree in Entrepreneurship (but he likes to refer to it as his Master’s Degree in Moving). Wade hosts the Grow Your Moving Company Podcast as well as Moving Titan Retreats, where he regularly learns from the best in the business on how to provide the ultimate experience for clients as well as educating other movers on how to do the same. As a former baseball player, Wade is Considered a ‘semi professional’ Wiffle-ball player, competing in tournaments around the state.

Wade lives in St Petersburg, Florida.

Starting a Moving Business with Wade Swikle. 

• Please briefly share the story of what led you to starting your first business.
  Wade started his moving company with $600 and a pickup truck at the age of 21 while a student at the University of Florida over 11 years ago.
• When did you know you wanted to be your own boss? Who were early entrepreneurial influences?
• Why are you a business owner? What does it provide you with?
• Did you develop a business plan or financial projections?
• How long from idea to launch?
• How long before you were profitable?
• How did you fund the growth? Why did you decide to growth through acquisition?
• What is your differentiator?
• What has been one of the best methods of marketing your moving business? What is one of your top sources of leads?
  • Wade recommends budgeting 10% of projected revenues on marketing and advertisement to promote your moving business.
• How are you applying and leveraging technology in your business?
• Why should I consider the moving industry?
  • What are some of the advantages.
  • What are some common misconceptions and potential challenges?
• How are you and your franchisees managing the labor challenge?
  
• How many franchised locations do you have currently?
• How are you different from other moving business franchises?
• Who is your ideal franchisee?
• What is the typical investment range for a moving business franchise?

Episode Host: Henry Lopez is a serial entrepreneur, small business coach, and the host of this episode of The How of Business podcast show – dedicated to helping you start, run and grow your small business.

Resources:

Books mentioned in this episode:
[We receive commissions for purchases made through these links (more info)].

• Elevate: Build a Business Where Everybody Wins by Tommy Mello

Other Podcast Episodes:

Franchising Episodes

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Sponsors:

This episode of The How of Business podcast is sponsored by Zinch – fast and easy small business financing.

Special Offer:

Zinch is waiving application fees for The How of Business podcast listeners – a $250 value!
Just visit the Zinch website to learn more.

More about Zinch:

Zinch has been providing fast and convenient financing solutions for small businesses since 2004.

Unexpected expenses can pop up anytime in a small business…
Equipment breakdowns, license and permit fees, customer payment delays, and many other unexpected expenses for which you may not have the cash on hand to cover.
And If you don’t address this cashflow issue quickly, it could make or break your business…as Henry Lopez has shared many times on this podcast, running out cash is one of the top reasons businesses fail.

If you require a loan to cover these unexpected expenses, the traditional loan process is too slow to be of any help.
This is where Zinch comes in as the financing solution you need.

Zinch is a direct lender that makes financing fast, simple, and built around your needs.

If you’re generating over $10,000 in monthly revenue and have been in business for over 6 months, Zinch can fund up to $250,000 in less than two days!
The process is simple and quick – you answer some basic questions about your business and may receive a pre-qualified offer in less than 5 minutes, without affecting your credit.

Once approved, one of Zinch’s loan advisors will review the lending options and help you choose the best one for your business. After signing your loan documents securely online you will receive funds into your bank account within 24 hours! I encourage you to see how much financing you can get with Zinch!

And right now, Zinch is waiving application fees for The How of Business podcast listeners – a $250 value!
Just visit the Zinch website to learn more.

Loans made or arranged pursuant to a California Finance Lenders Law license.

We have received compensation from this sponsor partner. We only accept sponsorships from companies who we believe provide products and services that are valuable for small business owners.

Starting a Moving Business: What You Need to Know:

The moving industry offers varied opportunities for entrepreneurs, catering to both residential and commercial clients who need assistance in relocating their belongings. Whether you’re contemplating the idea of diving into this business or merely exploring, understanding the various considerations, advantages, and disadvantages is essential. Considering a franchises in the moving and storage industry might be a viable option for those looking for a structured approach to business or if lacking any experience in this industry.

Considerations for Starting a Moving Business:

• Licensing and Insurance: Depending on your location, you might need specific permits or licenses to operate. You must also have liability insurance and workers’ compensation insurance to protect your business and your customers. Be sure to research the licensing requirements in your municipality and consult with an insurance agent for the coverage you need for your business. The moving business is exposed to potential liability, including damage to customer property and injuries to workers and others.
• Equipment and Infrastructure: A reliable fleet of trucks and vans is the backbone of a moving company. In addition, you’ll need moving supplies like dollies, pads, and wrapping materials. You may also need a physical office, warehouse or other storage facility, and location to store your vehicles and other equipment and supplies.
• Labor: The moving business isn’t just about lifting; it’s about handling customers’ belongings with care. Training your team is essential. And attracting and retaining employee or contractors will be an on-going challenge.
• Pricing and Services: Research your competitors and understand the services they offer. This will help you set competitive prices and maybe even identify a niche service. As Wade Swikle of 2 College Brothers Moving, Storage and Franchising shares on this episode of The How of Business podcast, they offer not just residential and commercial moving services but also storage options for their customers.
• Marketing and Branding: The moving industry is competitive, and the barrier to entre is fairly low. A strong online presence, good customer reviews, and strategic branding will help you stand out.

Potential Advantages of the Moving Business:

• Consistent Demand: People and businesses are always moving and relocating. Whether they’re moving to a new home, city, or office, the demand for moving and storage services will continue.
• Diverse Client Base: From residential to commercial clients, the range of potential customers is vast.
• Scalability: You can start small, even with a single truck, and expand as your business grows. As Wade Swikle shares on this episode, he started his moving business with your $600, and how now grown 2 College Brothers Moving, Storage and Franchising into a multi-million-dollar business.

Potential Disadvantages of the Moving Business:

• Physical Demand: This is a labor-intensive industry. The risk of injuries is high, and ensuring safety can be challenging, and will be attracting and retaining employee.
• Seasonality: While people move year-round, there might be peak seasons (like summer) when the demand is higher, leading to fluctuating business cycles. This is one of the reasons why offering commercial moving services may be a good idea.
• Competition: Many players, from small businesses to big franchises, are vying for a piece of the pie. The barrier to entry is relatively low, and standing out can be tough.
• Labor Challenges: Attracting and retaining employees, as with many other industries, can be challenging. Consider paying top-of-market wages and offer competitive employee benefits.

Franchising in the Moving Industry:

One model prospective business owners might consider is purchasing a moving business franchise. Here are some potential benefits of a franchise:

• Established Brand: With a franchise, you’re ideally buying into an established brand name. This recognition can provide an immediate trust factor with clients that might take you years to develop on your own.
• Training and Support: A reputable franchises will offer initial training for owners and their teams, ensuring you hit the ground runn
• Operational Systems: From booking systems to billing procedures, a franchise can offer a proven and comprehensive system for starting and operating a moving business, reducing the trial-and-error phase. This also allows you to enter and potentially enjoy success without any prior knowledge or experience in the moving industry.
• Marketing Power: Franchises often have larger collective marketing budgets and strategies, providing you with tools and campaigns that have proven success.
• Owner Network: A franchise system can offer a network of other business owners who can provide mentorship, advice, collaboration and support to help you start and grow your business.

Of course, it’s important to consider that franchising also comes with fees and potentially less autonomy than running an independent business. It’s essential to weigh these factors when deciding the right path for you. If you are considering a franchise for the first time, we encourage you to research and learn more about franchises.

Starting a moving business can be lucrative and rewarding, given the constant demand for relocation services. However, it requires meticulous planning, a keen understanding of the local market, and dedication. For those hesitant about starting from scratch, a franchise opportunity might offer a more structured entrance into the industry. Whatever path you choose, due diligence, hard word, p and passion are the keys to success.