Target the wealthy with premium services.
lat is the new up, especially in any business that touches on real estate. That's why Ram Katalan is proud that his company's revenues are holding steady - a feat he has worked hard to achieve, while many of his colleagues in the moving and storage industry are suffering 20% declines. As president of NorthStar Moving in Los Angeles, Katalan began to see a sickening slide in his bookings about a year ago. When he realized his business was weakening most among middle-income clients, he refocused on the high-end market, which is less susceptible to economic fluctuations.
To attract luxury customers, Katalan, 43, expanded his premium services and launched new ones,