I was scrolling Linkedin a couple months ago and I saw this post from Chuck Kuhn, owner of JK Moving Services, the largest independent moving company in the United States:

$30 million dollars. In profit sharing distributions. Say what??

I mean, let’s just look at this picture again. Look at how happy those employees are to be holding the big check with their CEO. Holy smokes, how cool?

And the $30 million in profit sharing distributions is up from $25 million in distribution as of 2020, according to this press release by the company. So that’s an extra $5m in just the past 2 years. Sheesh.

I started digging a little into JK Moving and noticed a theme - it’s all about the people.

He does "Coffee with Chuck", quarterly in-person and remote sessions that provide an opportunity to spend valuable time listening and understanding who his team members are – fostering a culture of connection and growth.

In 2020, despite the economic downturn, JK Moving Services made a significant investment in the long-term future of its employees. The company distributed nearly $2 million into eligible employees’ 401K accounts as part of its profit-sharing program and in keeping with the company’s values of care and respect. This is the second-highest annual amount contributed to the program in the company’s history.

JK’s annual investment represents 5.5% of annual salary for eligible employees. This breaks down to 3% into the safe harbor 401k program and another 2.5% from the profit-sharing component.

“I saw how hard it was for my parents to save for retirement. When I started JK, I wanted to help my employees have an opportunity to build wealth and afford to retire. Our employees commit to us and our customers, and our profit-sharing programs are part of our commitment to them. This year, it took longer to become profitable, but with sacrifices and hard work across the enterprise, we are again thriving.”

According to this article from February 2022, JK Moving grew revenue 74% over a 2 year period. The article says that historical growth rates were about 10% year-over-year. They’re certainly doing something right.

The company also offers a formal Wellness Program; competitive compensation; a generous safe harbor employees’ 401k and company-paid profit-sharing program; tuition reimbursement; paid time off; an Employee Assistance Program; comprehensive medical, dental vision, and ancillary benefit coverages; bonus incentives; and employee volunteer opportunities—including the JK Community Farm, which is supported by JK Moving and grows and donates fresh produce and protein to the area’s food insecure.

The Sterling, Va.-based company said it is committed to attracting and retaining the “very best employees” and provides its team members with ongoing career development and a path for advancement.

If you know someone who runs a profitable SMB with 10+ employees, I’d love to chat with them. Please make an email intro and I’ll love you forever.

Talk to you all soon!

Ryan

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PS. All the replies go directly to me so feel free to reply with any thoughts/ideas/questions. I’d love to hear from you.