About three million households move across the country each year. For many, this is a big life change. AVL’s movers go through an intense screening process, including background checks and drug tests.
First movers may exploit their superiority in technology to gain market shares (Lieberman and Montgomery, 1988). This strategy is risky as it requires the first movers to undertake research and consumer awareness.
As a mover, it’s important to clearly communicate your valuation options to your customers. Miscommunication between moving company representatives and their customers can lead to frustration for both parties. One of the most common issues is misunderstanding the difference between valuation and insurance. While valuation establishes a level of compensation for lost or damaged goods, insurance transfers the liability to an insurer in exchange for a premium payment.
Regardless of your company’s size, there are a number of different strategies you can use to market your business. One of the most effective is to target new movers in your market. By targeting this group, you can capture consumer attention and brand loyalty before competitors enter the marketplace. To do this, you can append your customer data set with information on new movers and their home markets.
This data set can then be used to create targeted marketing campaigns for your moving company’s products and services. You can also use it to identify trends in customer behavior and target your sales and marketing efforts accordingly.
The process of valuing your moving company is based on a formula that compares your business’s current earnings to the multiples applied to similar companies in your industry. Valuation experts often utilize ratios such as seller’s discretionary earnings (SDE) multiples to calculate a business’s implied value.
SDE multiples are used to analyze the value of a business, and can be calculated by multiplying a business’s most recent 12-month period of revenue by an appropriate multiplier. For example, if your company generates $256,000 in SDE, and the moving industry’s average SDE multiple is 2.18x, then your company’s implied value is $691,200.
In addition to evaluating the moving company’s SDE multiple, it is important to take into account the amount of capital invested in the business, as well as the length of time the business has been in operation. Using this information, you can determine the maximum potential selling price for your moving company.
The first mover advantage refers to the benefit a firm experiences from being the first in its industry to introduce a new product or service. While first movers must bear the highest initial costs of research and development, they can reap most of the returns as they are the only ones in the market until competitors catch up and enter the arena. First movers can also gain valuable insight into customer needs and habits as they are the only ones in business, giving them an edge when it comes to retaining customers.
Moving companies should offer at least two types of valuation coverage for their customers: released value and full value. Released value coverage is free and provides reimbursement of 60 cents per pound for lost or damaged items, while full-value coverage covers the entire shipment up to a certain value in the event that something goes wrong during transit.
Choosing a Mover
Whether you’re moving across town or across the country, you need to find a mover that will protect your belongings. You’ll also need to choose a mover who will offer you the best value. This requires a lot of research and some good old-fashioned common sense. Here are a few things to consider when choosing a mover:
Will They Give You Everything in Writing?
A professional mover should provide you with a written estimate of your moving costs. This will include a basic breakdown of the services to be provided, a general timetable for your move and a list of any potential extra fees (like fuel charge or stairs fee). It’s important to know how your mover will calculate these charges so you can compare prices. If you shop around, it’s possible that you can get a better price by simply asking for a lower estimate.
You should also ask your mover how they handle parking issues at the pick-up and delivery addresses. For example, many cities don’t have room for a large 18-wheeler to park in front of your downtown apartment. In this case, the movers will need to use a smaller vehicle (called a shuttle) to carry your belongings from your home to a larger truck that’s parked more safely nearby. This extra step will increase your total cost, but it’s usually worth it for the safety of your items and to avoid costly delays.
Do They Have Well-Maintained Trucks and Vans?
A reputable moving company will have trucks and vans that are in excellent condition. In addition, their drivers should be well-trained and experienced. It’s important to check the FMCSA’s mover search tool to make sure your movers are licensed and insured, as well as having a clean complaint history.
If you’re moving fragile or valuable items, it’s especially important to choose a mover with demonstrated experience in moving those types of items. For example, it’s not professional for a general mover to try to load a piano into a million-dollar house without damaging either one. This type of damage isn’t typically covered by standard insurance policies.
Whether you’re moving across town or the country, it is a big step for any family. The move can be an exciting time, but it is also a stressful one. Regardless of the reason you are moving, a good plan and expert tips will help make the transition as smooth as possible.
The first thing you need to do is research movers. Look for a company that has the right experience, licensing and insurance. You should also consider their customer service and the availability of services such as packing, crating, storage and delivery. If you’re moving long-distance, you should also ask about their DOT and FMCSA registrations. These will protect you and your belongings, and prevent shady companies from adding extra charges or altering their terms.
When you’re ready to start the process of hiring movers, take a full inventory of your home and make lists of items you want to take with you and things you are getting rid of. You can then show these lists to a representative during the quote process. This will give them a better idea of what your move will entail, and help them estimate the costs more accurately.
One of the most important moving tips is to label your boxes as you pack them. By labeling each box, you can save yourself a lot of time and hassle when it comes to unpacking. It will also help the movers know which room each box belongs in. You should also keep a list of the contents inside each box, and tape it to the outside, so that you can easily find what you’re looking for in the future.
If you have any large, bulky or heavy items that you’re taking with you, consider disassembling them instead of trying to transport them in their original packaging. This will not only save you space, but it will also reduce the risk of damage during transit. On the night before your move, tuck everyday essentials such as a change of clothes, a toothbrush, essential medicines and any other necessities you’ll need on the day of your move into a suitcase or bag. This will ensure that you have them with you in the event of an emergency or unforeseen circumstance.