How to Start a Towing Company Business Plan by Francine Richards - Updated September 26, If you are considering a start-up towing company, writing a good business plan should be your first step. The written business plan will help shape your ideas and goals as well as force you to complete research on equipment costs, income potential, insurance requirements, state regulations, competitors and marketing campaigns.
Responsible for signing checks and documents on behalf of the company Evaluates the success of the organization Reports to the board Responsible for overseeing the smooth running of HR and administrative tasks for the organization Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs. Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments. Defines job positions for recruitment and managing interviewing process Carries out staff induction for new team members Responsible for training, evaluation and assessment of employees Responsible for arranging travel, meetings and appointments Oversee the smooth running of the daily office activities.
Handles booking in deliveries and liaising with customers. In charge of allocating and recording resources and movements on the transport planning system.
Responsible for communicating effectively with clients and responding to their requirements. In charge of directing all transportation activities. Responsible for developing transportation relationships.
Responsible for monitoring transport costs. In charge of negotiating and bargaining transportation prices. Responsible for dealing with the effects of congestion.
Accountant Responsible for preparing financial reports, budgets, and financial statements for the organization Provides managers with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
Responsible for financial forecasting and risks analysis. Performs cash management, general ledger accounting, and financial reporting for one or more properties. Responsible for developing and managing financial systems and policies Responsible for administering payrolls Ensuring compliance with taxation legislation Handles all financial transactions for the company Serves as internal auditor for the company Tow Truck Drivers Drives towing trucks Maintains a logbook of their driving activities to ensure compliance with federal regulations governing the rest and work periods for operators.
Keeps a record of vehicle inspections and make sure the towing truck is equipped with safety equipment, such as hazardous material placards. Assists the transport and logistics manager in planning their route according to a delivery schedule. Inspects vehicles for mechanical items and safety issues and perform preventative maintenance Complies with towing truck driving rules and regulations size, weight, route designations, parking, break periods etc.
We are quite aware that there are several towing truck businesses all over the United States and even in the same locations where we intend starting ours, which is why we are following the due process of establishing a business. We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be well — equipped to confront our threats.
Our strength are highly qualified and experienced management team, robust fleet operations, direct access to all Atlantic and Gulf Coast ports, our towing truck transportation network serves covers some of the largest population centers and highways in the U.
Our weakness could be lack of finance, high debt burden, cost structure, lack of scale compared to our peers who have already gained ground in the automobile towing industry. The opportunities that are available to us as a towing truck company operating in the United States of America are online market, new services, new technology, and of course the opening of new markets within our target locations.
In addition, as the average age of vehicles on the road increased, it will surely result to more repairs and towing services. Some of the threats that we are likely going to face are mature markets, bad economy economy downturnstiff competition, volatile costs, and rising fuel prices.
Basically, just like any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a towing truck company in same location where ours is located. Unfavorable government policies can also pose a major threat to businesses such as ours.
No doubt some of the major factors that counts positively in this line of business are trust, honesty, good relationship management and of course timely and safe delivery. The advancement in technology in areas such as computers, satellite communication, and the internet, has contributed immensely to the growth of the automobile towing industry.
The advancement in technology is responsible for increase of productivity of towing truck companies operations, it helps them effectively monitor their towing trucks and their drivers and it helps driver save time and effort.
Lastly, another common trend in this industry is that once a towing truck company has gained credibility, it is easier for them to go for brand new towing trucks on a long term leasing contract as against making use of second hand towing trucks which are usually expensive to maintain due to constant wear and tears of essential parts of the towing truck.
Our Target Market Our target market is basically transportation and haulage companies and of course every individual we own cars throughout the United States of America. We cover both short distance inter states and long distance intra states.
To move broken down, improperly parked, impounded, or otherwise indisposed motor vehicles away from to the road so as to avoid obstruction of free flow of traffic; towing light or heavy motor vehicles over short and long distances.
In other words, our target market is the whole of the United States of America and below is a list of the people and organizations that we have plans to do business with; Vehicle owners Haulage companies Our Competitive Advantage We are aware of the competitive nature of the automobile towing industry and we are ready to get into the mix and favorably compete with players in the industry.
Our major competitive advantage is the vast industry experience and solid reputation of our owner, Casey Hartford and our management team.Services, local markets and financial considerations are all accounted for in this free, printable business plan for towing companies. Business Plan Templates; Sample Business Plans; Business Planning Videos.
What Investors Really Think About Your Business Plan. At our Entrepreneur . TOWS Analysis is a variant of the classic business tool, SWOT Analysis.
TOWS and SWOT are acronyms for different arrangements of the words Strengths, Weaknesses, Opportunities and Threats. By analyzing the external environment (threats and opportunities), and your internal environment (weaknesses and strengths), you can use these techniques to.
A business plan is an essential tool when applying for outside funding such as small business loans and grants. Obtain sample business plans from your local Small Business Administration or download free or low cost software containing business plans.
May 10, · How to Write a Basic Business Plan. No matter your business idea, whether it's selling jewelry, landscaping or grooming animals, a business plan is a good way to demonstrate the idea's potential for success. No two businesses are exactly the same, and likewise, no two business plans are the same.
Understand and know what is 94%(16). Sample Business Plan. Contents of a Business Plan. Overview: Business plans should identify both the current strengths of a business and areas of opportunity or improvement. From SWOT to TOWS? Flipping The Script To Maximize Results.
Are we SWOTing all wrong? There is a school of thought, found often in the Harvard Business Review, for.