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I live in a small town population arox 13,000, currently have 3 towing companies with 2 doing the majority of the business, all 3 are on police rotation and take turns on police calls, I previously ran a small auto salvage and used an older rollback to move my own cars around, I enjoyed getting the cars pretty much and am thinking about purchasing a newer rollback and starting a commercial service, what is your opinion? could it be profitable? whats the best rig for the money starting out? is it worth the headache? I think the local guys get around $40-$50 per tow pretty close by and if they impound one for the police they charge $15-20 a day for storage and of course im sure it cost more depending on if the car I over turned and all that shit..
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>>1685187
Well you have to factor in the initial invest of how much a tow truck actually costs and then if you can't afford to buy it up front then you will have to factor in how much the payments will be on it and disel fuel and then finally work out the margins, As you said your not the only game in town so when you enter the market your going to drive down the margins even more.
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>>1685233
Also forgot to mention insurance, It will probably be pricey since it will have to be enough to cover the truck and whatever your hauling too.
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>>1685187
Be careful they dont run you out for being a newcomer.
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>>1685245
That is possible too, Might want to buy a pitbull to guard his truck, They may try to sabatoge it.
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>>1685233
im thinking I should be able to buy an acceptable truck for around 15-18k insurance will be around 2k per year with financing on the truck and the insurance factored in im guessing a monthly payment of $500 would be about right, also I estimate on a local $40 job say within a 20 miles radius fuel cost would be between $5-10 avg depending on distance traveled... hell I don't know
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>>1685291
Sounds like you are doing your homework pretty good, You don't really have anything to lose, If the business fails you can probably just take the truck back to the dealer and tell them you can't make the payments anymore and im sure they will get you out of the loan someway or you could just sell the truck and get yourself out of the loan either way.
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>>1685325
holy shit I love reading your advice.
It's like when I ask my 8 year old nephew how he thinks things work.
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