The moving services industry is a trillion-dollar industry that offers vast opportunities for entrepreneurs. In this article, you will learn about the current state of the moving services industry, as well as statistics, trends, and predictions that moving business owners should know. You will also learn about future trends and outlooks for the moving industry.
Current Moving Industry Statistics
First, let’s take a look at the current moving industry statistics.
Market Trends And Statistics
- The moving services industry is a multi-billion dollar industry.
- The moving industry generates about 86B in the United States.
- The moving services industry has been growing by 3% every year since 2014.
Profit And Revenue Statistics
- The average moving company generates $500,000 in annual revenue.
- The average profit margin for a moving company is 10-18%.
- The most profitable types of moving companies are those that offer full-service moving, corporate moving, and international moving services.
Employment Statistics
- There are over 180,000 people employed in the moving services industry.
- The moving industry is expected to create over 50,000 new jobs in the next decade.
- Most people employed in the moving services industry are movers, packers, and drivers.
- The average wage for a mover is $17-$27 per hour.
- The average wage for a packer is $17 per hour.
- The average wage for a driver is $25 per hour.
Other Moving Industry Statistics
- There are over 6,000 moving companies in the United States.
- The average size of a moving company is 10 employees.
- The majority of moving companies are family-owned businesses.
- The moving services industry is regulated by the Federal Motor Carrier Safety Administration (FMCSA).
- There are multiple types of moving companies, including full-service moving companies, corporate moving companies, international moving companies, and self-service moving companies.
- The majority of moves take place between Memorial Day and Labor Day.
- The average move costs between $800 and $2,500.
Future Trends And Outlook For The Moving Industry
Now, let’s see where the moving services industry is headed in the future.
- The moving services industry is expected to grow at a rate of 2% every year.
- The moving services industry will continue to be a trillion-dollar industry.
- There will be an increasing demand for moving services as the population continues to grow.
- The moving services industry will continue to create new jobs.
- The moving services industry will become more competitive as new companies enter the market.
- The biggest upcoming challenges to the industry are a shortage of workers and an increase in the cost of moving services.
Conclusion
As you can see, the moving services industry is a booming industry with plenty of opportunities for entrepreneurs. Keep these statistics, trends, and predictions in mind as you start or grow your moving company.