If you enjoy helping people, then a tow truck company is the best business to start.
The towing industry has seen a lot of growth over the past several years. With so many drivers on the road, there’s always going to be a need for tow trucks to pick up stranded vehicles. Starting and operating a successful tow truck business isn’t as easy as it sounds, however.
In this post, we’re going to give you a quick guide on how to start a tow truck company. Keep reading and you’ll have a good idea of the equipment, training, and business sense that you’ll need to thrive in your area.
Write a Business Plan
The first thing any entrepreneur has to do before starting their business is write up a business plan. This will essentially act as your guide for the first several months (or years) after you start your business.
It outlines everything from what type of towing company you’re operating (roadside assistance, impounded vehicles, etc.) to your initial expenses, where you’ll find customers and other financial planning. If you’ve never seen a business plan before, you can find lots of great templates online to get you started.
Taking Care of Logistics
Once you’ve got a business plan to refer to, you can start taking care of the logistical side of setting up your business. You’ll need to decide on a business entity, a catchy name, and register your towing business with an EIN (employer identification number). This is all crucial for filing taxes.
You’ll also need to get the correct licenses, permits, and business insurance to operate your towing company. Drivers, for instance, need a class B license to drive a tow truck. There are also various local, state, and federal certifications that you may have to look into getting.
In terms of insurance, you’ll need specific types of tow truck insurance to operate your business legally. You can learn more about these at InsuranceHub.
Buying Your Tow Trucks
Buying your first tow truck can seem a bit daunting, but if you can obtain financing for your business, there isn’t much overhead aside from your truck.
If you’ve got a strong business plan, you can get small business financing from your bank. In particular, equipment financing should help you afford whatever type of tow truck you want.
It’s also worth looking at the second-hand market for your first tow truck. These will be much more affordable and can help get you out there, making money until you can afford a shiny new one.
Promoting Your Towing Company
Once you’ve got your tow trucks, licenses, and insurance ready to go, you can start finding your first clients. There are a lot of tow truck companies out there, so marketing will be important when you’re first starting.
You’ll want to focus on SEO and particularly, local SEO so you can attract the right clientele. Most of the time, people are going to be typing “towing company near me” into Google, so you need your business to rank high on those search results.
Learn How to Start a Tow Truck Company ASAP
Now that you know how to start a tow truck company, it’s time to start writing that business plan so you can get towing.
Few careers are more gratifying than helping people in distress, but towing can also be extremely lucrative. Before you know it, you’ll have a growing fleet of tow trucks and a burgeoning towing empire on your hands.
If you enjoyed this, visit us for more on business and advertising.
_______________________________________________________________________
Some other articles you might find of interest:
Would you like to better understand how to drive and increase traffic to your startup website?
How to Drive & Increase Traffic to Your Startup Website
Do you have what it takes to start and run an online business?
5 Key Skills You Must Have to Start & Run an Online Home Based Business
