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
                              Source: Vertical IQ and Inforum

                              Recent Developments

                              May 22, 2024 - Steady but Flat Industry Growth
                              • The moving industry is expected to see weaker sales growth this year, but demand is projected to remain steady, if a bit flat, over the next several years. The industry’s year-over-year sales increased by 20.6% in 2022 before dropping to 3.9% in 2023, according to Inforum and the Interindustry Economic Research Fund, Inc. Sales growth is projected to moderate further to about 2.3% in 2024, then rise to 3.9% in 2025. The industry will then see steady but mostly flat average annual growth of about 3.8% through 2028, according to Inforum and the Interindustry Economic Research Fund, Inc.
                              • A lack of existing home listings helped drive more robust demand for newly built homes in April 2024, according to the Mortgage Bankers Association (MBA). The MBA’s Vice President and Deputy Chief Economist Joel Kan said, “New home purchase activity increased at a healthy pace in April 2024 after a slight pause in March. Applications to purchase newly constructed homes increased 22 percent over the year and have now shown annual gains for 15 consecutive months. There continues to be healthy demand for new homes, given greater availability and other benefits over existing home purchases such as builder concessions and customization options. First-time homebuyers account for a growing share of purchase applications with the FHA share of applications at 26.3 percent in April, higher than the survey average of 18 percent dating back to 2013.”
                              • The number of building permits issued for single-family, privately-owned housing units, a demand driver for painting and wall-covering contractors, decreased 0.8% month-over-month but rose 11.4% year-over-year in April 2024. Single-family housing starts fell by 0.4% month-over-month but increased 17.7% year-over-year in April. Single-family housing completions were up 15.4% month-over-month and gained 13.6% year-over-year in April. National Association of Home Builders (NAHB) Chairman Carl Harris said, “While the start of the year has seen an expansion for single-family home building because of a lack of existing home inventory, home building activity leveled off in April as higher interest rates, tighter lending conditions and lower home building sentiment acted as headwinds on new home construction.”
                              • More than 80% of consumers who bought a house in either 2023 or 2024 have regrets about their purchase, according to a recent homebuyer survey by Clever Real Estate. Among that group, 40% said they have had some difficulty making their mortgage payments on time or have taken on additional debt to maintain their standard of living. About a third of homebuyers said financial issues made buying a home more challenging than anticipated, and 47% said they feel over their heads since purchasing a home. High interest rates and a lack of affordable homes for sale have slowed the US housing market.
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