Larry writes: “What things should I be considering before going ahead with a towing service?”
Before you open a towing business in your town, it’s a good idea to determine how many competitors you have.
I’ve provided a link below to help you get a list of local competitors nearby.
Complete the form by entering your city, state and zip code to get a list of towing businesses that are close by.
Find Local Towing Business Competitors
If you are seriously contemplating launching a towing business, it’s a wise move to speak with somebody who is already in the business. It’s very unlikely that the local competition will talk to you. It’d be crazy for them to teach you the business.
However, an entrepreneur who owns a towing business on the other side of the country may be willing to share their entrepreneurial wisdom with you, after they realize you reside far away from them and won’t be stealing their local customers. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs.
You may have to call ten business owners in order to find one who is willing to share his wisdom with you.
How to find a towing business manager in another city who you can speak with? Use the same link above and put in a city hundreds of miles from you. It should come up with several towing companies you can call for information.
You will need a license to operate a towing company. Remember however that you need to be patient in securing a towing truck business license because obtaining a towing license can prove to be difficult. This is because towing licenses are strictly regulated. People who are planning to invest in a tow truck business must also have at least $10,000 for a towing business start up capital.
The starting capital for a towing company however can vary depending on your location and the type of operation you intend to have. In urbanized areas for example, you might need around $200,000 if you are going to purchase a tow truck and a towing license.
Good luck.
Photo by jekert gwapo.