Company Overview Visit uhaul.com website
U-Haul is a moving supplies rental company that provides transportation services to individuals and businesses. Its headquarters are located in Phoenix, Arizona while it has centers in more than 500 cities throughout North America.
The company was founded on May 30, 1945 by Leonard Shoen who had left his family's newly acquired truck renting business. Together with his wife Anna Mary Carty Shoen they started U-Haul with the sole purpose of "ship anywhere for one dollar." The initial capital used was $5,000 which Leonard borrowed from his 401k retirement fund. He then sold shares to co-workers and friends at cost including $4 per share for himself.
Leonard coined the term U Haul which came about after he moved a friend with only U-Haul equipment.
The initial fleet of rented trucks were used war surplus vehicles, most of which were left over from the military after World War II. To better suit the rental business model, Leonard designed his trucks with large open bodies that can be loaded and unloaded easily. The body designs would change through time but the trailers would remain almost unchanged since their first introduction.
U Haul is still owned by members of Shoen family although its headquarters is now in Phoenix, Arizona having moved there in 1991. It has more than 21,000 employees across North America thus making it one of the largest privately held companies with an annual revenue estimated at $5 billion.