Is owning a towing company profitable?
How much profit can a towing company make? The average tow truck business owner makes between $30,000 and $40,000 annually. The exact amount varies depending on the region that a business is in.
Is starting a tow truck business a good idea?
Starting your own business can be as exciting as it is profitable. By starting an independent towing company, you get to be your own boss and provide an essential service to your community. People will always need towing services as long as there are cars on the road, and you can set yourself up to answer the call.
How do you start a tow truck business?
Remember these 6 things as you grow your towing business.
- Grow gradually. …
- Make sure you’re hiring experienced drivers. …
- Strive to be claims-free. …
- Don’t set your sights on a big tow contract right away. …
- Make sure to pay your insurance bill on time. …
- Keep a clean loss history and stay in business.
What are the costs of running a towing business?
The tow truck business start up costs are higher than other business types, anywhere from $150,000 to over $1 million. This is due mostly to the initial investment in towing equipment.
Is there money in towing cars?
Nationwide, tow truck drivers make $13.30 per hour, which is a $27,664 salary, but this includes drivers who work for someone else. As a tow truck business owner, you’ll be able to retain all of your profits. … Although you’ll want to make a profit, you can easily find other tow companies are undercutting your prices.
How much can a tow truck owner make?
While ZipRecruiter is seeing annual salaries as high as $228,000 and as low as $19,000, the majority of Tow Truck Owner salaries currently range between $32,000 (25th percentile) to $150,000 (75th percentile) with top earners (90th percentile) making $207,500 annually across the United States.