U-Haul is a well-known company that provides rental moving trucks, trailers, and storage units. Apart from its locations, U-Haul also offers franchise opportunities to those who are interested in starting their own moving and storage business. In this article, we’ll discuss U-Haul franchise cost, profit, and requirements for 2023.
U-Haul Franchise Cost
To become a U-Haul franchisee, you’ll need to invest between $1,321,985 and $3,032,892. This cost includes the franchise fee, equipment, inventory, and other necessary expenses. Additionally, you’ll need to have a net worth of at least $1,500,000 and a liquid cash requirement of $1,000,000. U-Haul also requires that you have a good credit score and a clean criminal record.
Franchise Profit
U-Haul franchisees have the potential to make a good profit. According to the company’s website, the average U-Haul dealer earns more than $200,000 per year. However, the actual profit will depend on several factors, including location, competition, and the ability to manage expenses. Additionally, U-Haul franchisees have the opportunity to earn additional income through the sale of packing and moving supplies.
Requirements
To become a U-Haul franchisee, you’ll need to meet several requirements. Firstly, you’ll need to have a suitable location for your business. U-Haul requires that its franchises be located in an area that is accessible to customers and has adequate parking space. You’ll also need to have a team of trained employees who can provide quality customer service.
U-Haul also requires that its franchisees participate in ongoing training and support programs. This includes attending a week-long training program at the U-Haul headquarters in Phoenix, Arizona. Additionally, U-Haul provides its franchisees with marketing and advertising support, as well as access to its proprietary software and systems.
