Many budding franchisees look at bustling, high-stakes markets when figuring out what industry they should enter. This is understandable as big markets often translate to good business. But what if you take a step in the direction of a truck rental franchise?
The truck rental/moving industry is historically stable and certain companies within the industry that offer franchising opportunities constantly grow, giving you a chance to enter an entrepreneurial path without substantial risks.
Stable Industry, Minimal Risks
What a moving franchise has over another type of franchise ownership is that it does not suffer from massive industry tumbles. While Americans moved at a record low of 11.2% in 2016, relocation sizes increased. An interesting development arose: while the number of moves fell, moving companies saw higher revenue.
Another statistic you should be aware of is that, on an average basis, more than 40 million Americans move annually. Given these numbers, you now have an idea of the need for moving companies.
Choosing the Right Franchise
The moving industry provides you with a number of truck rental franchising options to choose from, but you have to weigh your options as well. When deciding which moving company you want to be a franchisee of, look at their reputation and customer satisfaction rate first as the information can go a long way for your business venture.
Moreover, look for a moving company that has a proven track record of growth. The logic behind it is simple: if you franchise a known brand, then its reputation trickles down to you.
Another important aspect to note is the popularity of the brand you’ll franchise. Startup moving companies obviously have potential to grow (or fail) but franchising for a tried brand is simply more practical.
The choices you make can significantly affect your success as an entrepreneur. You may choose franchise ownership for a different industry, but the stability of a truck rental franchise is just such a good opportunity to let pass. If you see potential in a moving franchise, don’t hesitate to contact a well-known moving company.