Exploding population size and more widespread geographic distribution are among the largest factors affecting the moving industry. With the increasing number of interstate relocations and moves, there are lots of reasons why now is the best time to consider starting a moving business franchise.
A lot has changed in the past decade. The Census projection for the 2022 US population figure was estimated at 334,233,854, an increase of 7.4% from 2010. But what hasn’t changed is that moving remains steady in the US.
The average American moves nearly 12 times throughout their lifetime. An estimated 30 million people (or 19% of the population) are expected to move at least once in the next 12 months, with almost 15 million households moving into a new home or apartment.
Fueled by the pandemic, many Americans are continuing to make the shift to remote work, which has opened the window of opportunity for more moves. With an increase in remote work opportunities, an estimated 14 to 23 million people were able to relocate last year. If you’re looking for your next investment opportunity, such as a junk removal franchise, College HUNKS Hauling Junk & Moving® has a solution for you!
We’re one of the fastest-growing companies in America, receiving many awards and accolades for our moving business franchise. Our vision is to become the largest employer of professionally trained service providers while providing a launchpad for entrepreneurs to gain experience, get the ball rolling on their own concepts, and power the economy.
Let us help you achieve your dreams of business ownership and become an executive in your business with the tools and resources you need at every stage to ensure you’re on the right path.
Moving and Junk Hauling Industries
The moving and junk-hauling industries are a lot bigger than most people imagine. The moving services industry in the US is currently valued at $21.7B for 2023. Similarly, the waste management and remediation services industry was valued at $208B in 2019, with projections showing a CAGR of 5.3% to reach $230B by 2027.
Starting a moving business with College HUNKS is your opportunity to break into these booming industries with robust support from a leading franchisor. We’re more than strong enough to compete in both industries, rapidly growing our franchise opportunities across the nation, as the demand for the services we offer is gigantic.
Where People Are Moving To
Close to 8% of Americans (around 26.5 million individuals) have relocated in the last year. More people are leaving US cities, abandoning urban centers for the suburbs or country. Fewer than 3 million Americans left the suburbs or rural areas for urban centers.
In 2021, the largest number of individuals (about 253,000) relocated to the South, with 227,000 originating from the Northeast.
About 80% of movers stayed within the same state. Some 59.17% of these individuals relocated within the same county, and 21.3% chose to move to another country. Of the remaining 20%, around 17.29% moved to another state and 2.24% to a different country.
As more people relocated further distances, the average moving distance in 2021 increased to 922 miles. The majority, some 28.5% of individuals, moved 100 miles or less, with the next largest percentage bracket of 23.7% having moved 1,000 to 2,000 miles.
Why People Are Moving
While safety concerns surrounding the pandemic were a primary factor for moves in the past few years, other factors tied into many individuals’ reasons for moving.
These reasons include:
- The need to upsize to support a growing family
- Lower cost of living
- Closer proximity to family
- Increased work flexibility
- New job opportunities
- Better schools
Other reasons for moving tended to surround major life events (buying a vehicle, becoming employed, graduating from college/university, and relocating for a new job.) Aside from economic considerations, the most important factor for people considering moving in 2022 was the desire to improve their quality of life.
Looking ahead, according to recent predictions, we can expect to continue to see the effects of the pandemic into the next year and beyond. The demand for relocating services is expected to remain high, as many individuals reported that they would likely move again during the pandemic while many renters are looking to stop renting and own a home.
As more individuals plan their exodus from large cities into the suburbs, looking for more affordable housing options and transitioning to remote working opportunities, the demand for moving and junk-hauling services is expected to remain high.
Now’s the time to strike while the iron is hot, and start your own moving business franchise with College HUNKS today!
Want to learn more about the College HUNKS Hauling Junk & Moving® franchise opportunity? Reach out to our friendly franchise team today!