Ready to expand your moving company?

Hey, my friend. It's Luis Massaro, CEO of Moving Mastery and founder of Moving Sales Academy. You know, I've been getting asked the same question a lot lately, so I want to do a video on it because I think a lot of people, you know, ask themselves the same question, which is, when do I expand? Should I open an additional location? Right. How do I grow my business? I talk to a lot of moving company owners that really have an interest in opening additional locations. And you know, sometimes it's a little premature, you know, And I see companies that want to grow and they want to expand and I love that idea. I think it's amazing. But you need to make sure you're ready for it because it's a big commitment. Running one location is totally different than running two locations. All right? I know it might seem like common sense, but until you're in it, until you have that second location, third, fourth, fifth, 30th, 40th, whatever it may be, wherever you're gonna go to, you don't really know what's involved in that. Alright? So if you're questioning whether you should open up additional locations for your moving company, there's five questions that you should ask yourself to really see if you're ready to do it. Alright? Because listen, I'm all for growth, I'm all for expansion. When the time is right and you're ready and things are lined up when go for it, for sure. Before you do, ask yourself these five questions. Okay? Can my business run without me? All right, this is important, right? If your business now can't run without you being there, it's going to be a problem because you know your new location. Even if you have a partner that's going to run it, even if you have a great manager that's going to run it, even if you have a licensee or franchisee or whatever it is that's going to go run that office, it's still going to require your attention, right? Everything you do now is basically going to double, right? It's going to take a little time for that office to get moving, but it's going to double. So you need to be able to spend the time to go to that additional location and nurture that office and get it up and running. The same way that you got your current business to the successful level that it's at, you're going to need to do that at that location. You know, a lot of times we think that because we did it once, it'd be easy to do it again, but we need to remember that when you built your first successful company, it was because you were there and you put in the work. So you need to make sure that you have the time to be at that additional location to get that going. All right? So your business needs to be able to run without you. All right? All right, second question. Is there room for improvement currently in your business now? I mean, look at what you have going on now. Look at your current processes. Is there room for improvement? Because if there is, make those adjustments first, right? Make those improvements first. Get all your processes and procedures documented, right? Have a system, a standard operating procedure for how you do everything. Because then when you go and open up that additional location, they know what to do there. Exactly. Step by step. Because if there's room for improvement in your current location, when you open up a second one, all that's going to happen is those areas that aren't solid where you are now are going to now not be solid there too, all right? So if you're having any type of issues now, you're going to have more issues from that. So just look and ask yourself, you know, are there any room, is there any areas that can be improved? Third question. Are there areas that I could increase profit now in my current location without opening another location? Right. A lot of times we're quick to want to open up another location because it seems like, hey, I'm doing well here, I'm making X amount here in this office. Well, if I open up another one, I could make double that. Or if I open up five offices, I can make five times that. Right? It doesn't always work that way. And you know, a lot of times I've worked with moving companies that want to expand and want to grow, but there's so much room for additional profit in their current business, right? I mean, there's almost like dollar bills laying all over the floor that I see them because it's, you know, there's room for additional profit there. Why spread yourself thin? Why take on another location and, you know, have to drive there or fly there? I mean, when I opened my additional locations, they, except for one office, they were all I had to get on a plane, alright? So, you know, that's a lot of work. And if you could increase profit where you're at, do that first. So ask yourself, is there areas now in my business where I can increase profit without having to spread myself too thin? All right, start there. Fourth question. Am I doing this to impress other people? All right. Or for my ego? You know, it's we live in a world where, you know, social media world, you know, people are online bragging about what they have, showing pictures of their cars, showing pictures of their businesses. And you know, it can be tempting for someone to say, you know what, I want more. I don't, you know, I want to be some. I want to have multiple locations when I meet somebody. I want to be able to say I own multiple moving companies. I don't want to just say I own one moving company. So, you know, take a step back because a lot of times, you know, our, you know, our desire to impress other people or our ego might lead us in a direction that we're not really ready to go in. Right? You got to honor the small stuff, right? When you honor what you have in front of you and when you cultivate what you have in front of you, that's what grows. You know, would you rather be able to say to somebody, hey, I own five moving companies or I own one moving company, but your one moving company is more profitable than your five. Do you really want to take on the, you know, additional liability and everything of additional companies when you can increase profit where you're at? Again, I'm all for expansion when the time is right. You just got to make sure your own motives are correctly correct, that you're doing it because you're ready to do it, because it's the next logical step, because you've maxed out your current business and you're ready to expand, not because you just like the idea of how it sounds, of opening up multiple locations. Alright, fifth and final question. Am I willing to gamble my current business on the success of the new business? Right. When you open up another office, you're going to need trucks, you're going to need warehouse, you're going to need, There's a lot you're going to need that you're going to need to probably use your current business to sign for some of that stuff. All right, so listen, you're at your business, this other one that you want to open up. I'm not trying to talk you out of it, don't misunderstand what I'm saying. I just want you to be able to ask yourself these questions. But, but just know if that company doesn't make it, if you try to open up another office and it doesn't make it, and you've signed for warehouses and trucks and whatever from your current business, or you're helping to float some of the bills for that new office while it's getting going, right? It's not producing enough money to handle all of its own expenses. And your current business is basically taking profits to compensate with the new business. You're gambling your current company. Alright, so these are just five questions you need to think about. You know, I can't. Someone wants to say, hey, Louis, should I open up an additional company? Ask yourself these questions. You know, that will give you the answers that you need. And you know what, if you answer them all and it's all like, yup, I'm maxed out here, I'm ready to go. No, I'm not doing this to impress anybody. I'm willing to gamble my location because I feel confident that I have the time for my business currently to run without me to step away to make sure this new business runs and is, you know, set up for success. Go for it. All right? Just know that when you do, be ready to work hard, be ready to hustle hard the same way that you did when you started your business. If you want the new business to be as successful as your current business, you've got to be willing to put in that time. Alright? So until next week, if you open a new location, I want to hear about it. If you're ready to go, I want to hear about it. If you know that you have everything in order, message me, tell me, listen, I love to see people grow. I love to see people expand. And until I hear from you, go out there, profit every day in your business, thrive in your life. I'll see you next week. Hey, my friend, it's Louis. I hope you enjoyed this episode. Do me two favors, please. Number one, subscribe to this channel so that you continue to get updates every time I release new training for you. And number two, if you'd like to get ahead a little bit faster and become more profitable in your business, what I'd like to do is give you a copy of my 10 rules of a profitable moving company. These are the same 10 rules that I applied in my business that helped me grow it into a multimillion dollar nationwide company. Okay? So all you need to do is click on the link on this page or head over to LouisMassaro.com. so that's Louis L O U I S Massaro M A S s a r o.com 10rules. Just put in your name and email address and I'll email you out a copy. Okay? Until then, every single day, go out and profit in business and thrive in life. I'll see you later.