BUSINESS CONSOLIDATION IS HERE
Consolation. Is it right for you? We’re seeing it more and more, and here’s what our recent experience has been with it. We’re hoping it will give you some more important insight into whether it’s a good option for you.
OUR RECOMMENDATIONS:
- CONSIDER THE ECONOMY AND HOW IT AFFECTS YOU: As a moving company, you have no control over mortgage rates, unfortunately, and they are weighing heavily on home sales. Without homes selling and people moving our business is hugely negatively impacted.
- MORTGAGE RATES ARE NOT GOING LOWER ANY TIME SOON: Even though the Fed has lowered its rate 3 times in the last 6 months, the mortgage rate has not budged. In fact, it’s even gone higher. Into the 7% range as of this writing.
- MORTGAGE RATES WILL STAY IN THE 6%-7% RANGE ALL OF 2025: According to experts, the interest rate on bonds, which mortgages get turned into upon closing by the mortgage bankers, remains high. Historically, 7% is not a bad rate for mortgages, but tell that to today’s buyers. Good luck!
- GIVEN THIS BUSINESS, SENARIO, WHAT’S BEST FOR YOU ? We are seeing some movers selling, and if you are a buyer, how you market your new acquisition going forward will be of the utmost importance.
- KEEP YOUR GOOGLE REAL ESTATE: This may sound silly given all of the pressing matters you face, but it’s huge. Now, you have two sales funnels to bring you business. You must capitalize on it.
- CONSOLIDATION WORKS: Three of our established clients have bought other moving companies in the past 6 months, and all with glowing results. We’ve helped them navigate the marketing challenges, and all are building nicely on their investments.
Being in a business that is so financing-dependent is frustrating because our hands are tied for the most part. Mortgage rates control our business, and we don’t control the mortgage rates. Thus, this is new territory for most moving companies, and it calls for out-of-the-box thinking.
Onward & Upward!
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