For ‘young’ people, starting your very own business and becoming self employed is the most suitable alternative to the ever growing hard to get 9 to 5 jobs. Starting a business is always the best alternative to the ever elusive jobs.
A survey by the Kenya National Bureau of Statistics (KNBS) revealed that seven (7) million Kenyans are unemployed. An additional figure of over 1.4 million are actively looking for employment. With those figures, it is easy to see why more and more people are looking for alternatives.
Because we know very many business ventures require huge amounts of capital to get started, this new How To series will only show you how to start and execute several small business that require capital from as little as 5,000 Kenyan Shillings. Thus giving you the keys to the kingdom of starting a profitable business with little or no capital.
If you are also just looking for a side hustle to maybe supplement your 9 to 5 or full time job, this is for you.
All that you need to thrive in these businesses besides capital, is good customer service of course, great managerial skills, a suitable business location, and a clear cut vision.
Today’s article will show you how to set up your very own Moving Company business in Kenya. While this is not exactly a 5,000 Kenyan Shillings capital business, I am sure you would agree that this is also a very viable option.
A moving company, helps businesses as well as individuals move their goods, possessions and other valuables from one location, to the other. Services offered by Moving Companies include arrangement of moved items, moving, packing, unpacking, as well as loading and unloading.
How To Start A Moving Company Business In Kenya
Just how much do you need to start a Moving Company business? What paperwork, and or equipment are you required to have in Kenya? If you are considering this option, here is everything you will need to kickstart your Moving Company business in Kenya.
- Have A Business Plan. For every business, having an effective and concise business plan is very important.
- Acquire The Needed Training. Yes, even the Moving Company business requires some training. Especially if you have not done this professionally before. The training will enable you better understand the technicalities behind proper loading, packing and moving. It will also increase customer confidence and boost the reputation of your business.
- Figure Out Your Market. It is very important that you figure out your market. Especially before starting your business. The beautiful thing about the Moving Company business, is that anyone with an apartment or office is your potential customer and will at some point, be requiring your services.
- Plan Out Your Marketing. Next after figuring out your target audience, should be planning out your marketing. Yes, your Moving Company business just like any other business venture, definitely needs marketing too. Learn how to get the attention of your target market. Would discounts work? Or referrals or both? How about posters, sponsored adverts on social media and fliers. Find out what is most effective for you and use that or a combination of all of them.
- Make Sure Your Moving Company Has An Online Presence. This includes creating a Facebook page, as well as Twitter and Instagram accounts for your business. You can also get a website created for your business as well. Be sure to hire a professional for this, so as to ensure that the website is very well done and looks presentable. The hired professional, will also make sure that your website is well maintained and updated regularly. Creating a LinkedIn profile for your business will also be a good look and will help you further network with other businesses. Just make sure that you update your LinkedIn information regularly and also check it regularly.
- Figure Out How To Raise Capital. The Moving Company business like any other business, requires capital investment. After completing your business plan, knowing your market and finding a location, this should be your next line of action. Although Personal funds are sometimes the primary source of funding for many new businesses, doing just that may not be enough. Taking on a financial partner is your best bet. If obtaining a business loan from financial institutions proves difficult, the next option should be getting it from friends and family. Loan arrangements in this setting are usually much more flexible as they come with much lower interest rates. All you would need to do is convince said friends and family, of the profitability of your business. Please make sure however, that you pay back the money and in good time too, so as to maintain confidence which you would need if you would require money from them in the future.
- A Location. As with most businesses, a good location is one of the major factors that determine whether or not your Moving Company business will succeed. Find a location that is both ideal and easily accessible.
- Secure A Storage Space. If you are going to be offering storage as an additional service to your customers, you will need to secure a storage space; preferably a Warehouse. Keep in mind that securing this will unavoidably incur more expenses.
- Secure A Fire Clearance Certificate. This is received after undergoing an inspection which you pay for. It also involves getting advice regarding the guidelines of protection against fire, and the installation of the required equipment like fire extinguishers.
- Get Moving Equipment. Equipment like Furniture Belts, Moving Blankets (which are also known as Moving Pads), Ropes, Moving Dollies, wrapping Materials, packing materials like boxes of various sizes, etc. Please make sure that you purchase these equipment from dealers who are reputable. While new equipment are preferable, you can also opt to buy them from an already established Moving Company that is looking to sell. Doing this will save you the struggle of buying your own equipment.
- Get A Vehicle For Transportation. As Moving Company especially one which is just starting out, one of your most vital resources will be transportation. Make sure you invest in a Van or Truck. This will ease your movement to and from locations that require your services. It is also advisable that you have your campany name and or logo imprinted on your Van and or Truck. This is also part of advertising the presence of your Moving Company business.
- Vehicle Maintenance. After sorting out your transportation needs, it is important to also budget for the maintenance of said vehicles.
- Register The Name Of Your Newspaper Delivery Business. Once you have settled on a suitable name for your Moving Company, you will need to register the name. Especially if you plan to run it as a legitimate business. The registration of your business name would cost you around 1,000 Kenyan Shillings.
- A Business License Or Permit. This is one of the most fundamental licences that businesses in Kenya are required to have before commencing operations, so you will definitely need one for your Moving Company business. Although the cost of a business licence or permit differs from county to county, it usually sits at around 3,000 Kenyan shillings.
- Make Sure Your Moving Company Is Insured. Although nobody likes to incur extra costs, Insurance is another essential part of starting any business. Ensure that you get a Liability and Cargo insurance as well as a reasonable insurance coverage for damages that might occur. You will also need a vehicle assurance as well.
- Get An Employer Identification Number. If you will be looking to set up checking accounts for your business and or hire employees, you will need an Employer Identification Number. To get one, simply get in touch with Kenya Revenue Authority which is Kenya’s internal revenue service.
- Employ More hands. No one is an island, you really cannot carry out all the daily activities and various services offered by a Moving Company business efficiently, on your own. Especially when your customer base, begins to grow.
- Be Trained In Sales. Ensure that you as well as your staff are well trained in sales. This will especially come in handy when your business begins to grow.
- Talk To Others Who Have Done This Before You. No man is an island. While a number of established business owners are more than happy to give advice to new entrepreneurs, it can take a while to find one who will be willing to do so. The wait however, will worth it. Talk to entrepreneurs who have gone into or are still in the Moving Company business. Examine, study and understand their various business models and strategies. You never know, you just might pick up one or two nuggets of wisdom from them.
And that is it! All you need to know about starting your very own Moving Company business in Kenya.
Is the Moving Company business, a suitable venture for you to go into? That question, is left for you to think on and answer. This writer’s goal is to open your eyes to the various entrepreneurial opportunities that abound in the country.
One important thing besides the tips provided here, is to be good at what you do. Continue to think of new ideas and ways to expand and grow your business.
Also while the prospects are very promising and running a Moving Company business might seem easy, please have a realistic approach as well. It still requires a fair amount of dedication and patience regardless and as with any business, there is a chance that you might incur losses. Especially at the beginning, so please keep your overheads low.
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