Towing tools and equipment
Beginning your own business venture may be profitable for your community depending on its needs. This type of company is responsible for the removal of vehicles involved in automobile accidents, transport vehicles that have been stranded, and remove vehicles that have been parked illegally or abandoned. Customers for these companies typically include car dealers, owners of small businesses, apartment building management services, and local government agencies. Those interested in starting your own hauling company may only need one tow truck. However, as the business grows, additional trucks, towing tools and equipment may become necessary.
Step One: Your Business Plan
This is where you outline how your company’s phases of business development comes to fruition. This first section should describe the various services provided to your customers. Such services include commercial retail tows, hauling for dealerships, and emergency calls. Create a list of costs for starting up, equipment, insurance, labor, and licensing within the second section of the business plan. The third section of your business plan is reserved for the marketing plan and where you describe how you plan to target potential customers. Within the fourth section of your plan, describe the various roles of each member of the management team, as well as each employee.
Step 2: Your Licensing
You must apply for a license through the department of motor vehicle and local hauling recovery board. Next, it is required that you register your business through the county clerk’s office and the secretary of state’s office. You must also obtain a tax identification number through the IRS (irs.org) for all federal and state tax returns.
Step 3: Obtaining Insurance
General liability, auto, property, and worker’s compensation are required insurance coverages you must obtain from a licensed provider. Should any damage occur to towing tools and equipment or lawsuits occur, property and general liability insurance help cover the costs associated with these issues.
Step 4: Purchasing Vehicles, Towing tools and equipment
It is your choice if you want to make your purchases from a local dealer, out of state, or on the Internet. Shop around various used parts stores, as well as junkyards to make low cost purchases. Don’t forget that computer software is also necessary for maintenance of bookkeeping, invoicing, and other records for your business.
Step 5: Location, Location, Location!
Purchase or lease a location or parking lot where vehicles land following removal. A commercial real estate agent will help you find a prime location.
Towing in Edmonton can be one of the options.
Step 6: Get the Word Out
Let the community know you’re in business by attending auto trade shows, functions for business-networking, and by visiting other businesses in person. Contact your target businesses listed in your business plan.