Moving Companies
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 8,900 moving companies in the US provide packing, transportation, and storage services for used household and office goods to individuals and businesses. Firms may also offer warehousing and storage, packing, and special handling services or sell boxes, paper, bubble wrap, tape, and other packaging supplies for Do-It-Yourself (DIY) movers. In the moving industry, the carrier or van line operates as the transporter of household goods. The moving agent operates under contract with the carrier to manage the move.
Seasonal Demand
The moving and relocation business is highly seasonal and peaks during the summer when families like to move to avoid disrupting the school year.
Mobility Falls
The number of Americans who move has been mostly flat or on the decline for the last five years, with advances in technology creating remote working opportunities that eliminate the need for relocation.
Industry size & Structure
The average moving company operates out of a single location, employs about 11 workers, and generates about $2.1 million annually.
- The moving industry consists of about 8,900 companies that employ 100,000 workers and generate $19.3 billion annually.
- The industry is concentrated at the top and fragmented at the bottom; the top 50 companies account for over 40% of industry revenue.
- Large companies, which include UniGroup (United Van Lines, Mayflower), SIRVA (Allied, North American Van Lines, Global), and Atlas, may have global operations.
- Companies that provide long-distance move services account for 32% of firms and 64% of revenue. Companies that provide local move and storage services account for 69% of firms and 36% of revenue.
- About 40% of firms generate less than $500,000 annually.
- The industry includes van lines, van line agents, and independent movers.
Industry Forecast
Moving Companies Industry Growth
Recent Developments
Nov 22, 2024 - More Americans Plan to Move in 2025
- More Americans are planning to move in 2025, according to a survey released in October 2024 by self-storage software firm Storable. The survey, conducted in August 2024, asked 1,000 self-storage tenants about their intent to move in the next 6-12 months, and 37% said they either were planning or considering a move. In a similar Storable survey in March 2024, only 25% of respondents said they were planning or considering a move. The South was the most popular destination, with 40% of movers selecting the region due to lower cost of living and healthy job markets. The top states included Florida, North Carolina, and Texas.
- After two years of high interest rates and home prices hindering home sales, the US housing market is expected to improve in 2025 and 2026, according to a November forecast by National Association of Realtors chief economist Lawrence Yun. Existing home sales are expected to rise 9% year-over-year in 2025 and then climb 13% in 2026. New home sales are forecast to increase by 11% in 2025 and 8% in 2026. Key demand drivers include a healthy labor market and population growth. The average 30-year fixed-rate mortgage over the past 52 weeks has ranged between 6.08% and 7.44%, according to Freddie Mac. Yun says he believes mortgage rates will be near the bottom end of that range in 2025 and 2026.
- Recent cuts to the benchmark rate by the Federal Reserve have yet to translate to lower mortgage rates for home buyers, according to The Wall Street Journal. A Fed rate cut of a quarter-percentage point in early November followed a half-point cut in September. However, for the week ending November 14, the average rate for a 30-year fixed-rate mortgage was 6.78%, down just 0.01 points from the prior week and only 0.66 points from a year earlier. Rather than being set by the Fed, mortgage rates are heavily affected by the 10-year Treasury yield. Treasuries tend to rise amid positive economic outlooks, and a rosy view of the current economy is keeping treasuries and mortgages high. Donald Trump's retaking of the White House pushed treasuries higher as some investors believed his tax-cutting plans would increase the deficit and contribute to inflation. Stubbornly high mortgage rates have stalled a rebound in home sales, which are a key demand driver for moving services.
- Sales of existing US homes increased by 3.4% in October from September and were up 2.9% year-over-year, according to the National Association of Realtors (NAR). The median existing-home price in October was $407,200, marking the sixteenth consecutive month of year-over-year increases. NAR chief economist Lawrence Yun said, "The worst of the downturn in home sales could be over, with increasing inventory leading to more transactions. Additional job gains and continued economic growth appear assured, resulting in growing housing demand. However, for most first-time homebuyers, mortgage financing is critically important. While mortgage rates remain elevated, they are expected to stabilize.”
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