A few of my friends really enjoy our jobs towing but we all see small things in our respective be companies we don't like. Obviously it's a big deal starting a towing business but whats involved.
Like insurance and such, what's the easiest way to break into towing. It's hard to find resources online about start up towing companies. Personally none of us like repo work, I've never done it but both my buddies have stepped away from it because they've both had guns pulled on them and they don't know wanna be killed over a crappy Corolla.
What laws must you abide by to start your own type of towing business? Do you have to have a yard of your own? What type of insurance is required? What happens if the vehicle your towing doesn't have a valid plate? Does this mean you have to get a dealer plate to transport?
What's involved with buying a truck, special licenses? Special insurance policies?
One of my good friends owns a towing company and I have worked with him off and on for several years. There are a few different ways to make money in the towing game. First thing you should do is get on rotation with the local law enforcement.
Every time there is an accident or vehicle that needs to be towed they go through the rotation list and call them in order. Next I would talk to apartment complexes and store owners to do tow-a-ways. If someone is parked there after hours without a permit sticker you tow them back to your tow yard.
The last thing I would do would be a repo. Although they do pay the most they are the most time consuming and dangerous. There is good money that can be made in this industry but it is hard work and you have to work odd hours.
I wouldn't do it unless you've been in the business for a few years. Insurance is crazy, you need a trained individual to operate the tow truck, theirs literally so much competition it's insane. The best way to go is hauling cars for insurance auctions, dealerships and across state hauls. You can get a three car trail and a truck for a little less and make more in the end. I've been towing for a good friend for a few years so I know the struggle and the towing business.