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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.
Check out the following details to see if you could meet the five requirements of becoming a tow truck driver.Age and Education. You must be at least 18 years or older to operate a tow truck.Physical Assessment.A Valid Driver's License.Background Checks.Driver Training.Conventional.Wheel Lift.Flatbed.06-Dec-2019
Towing license applications must be submitted through our online portal, . A license is required for the tow company and each vehicle must be registered....Towing LicenseMinimum of $200,000 per injury.Minimum of $500,000 per incident.Minimum of $50,000 per property damage claim.
Right now is the perfect time to join the tow truck industry: The automobile towing industry brought in $8 billion in revenue in 2019. This whopping figure proves that starting a towing business is possible and profitable, even in 2020.
In Pennsylvania, here are the key takeaways: In the case of involuntary tows, tow companies can remove a vehicle at the "reasonable expense of the vehicle owner". Towing companies can charge a maximum of $25 per day for storage if the municipality has not already set rates.
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.
If you're really low on start up funds, you might consider renting tow equipment until you have enough contracts to justify the purchase of your own tow truck. However, if you plan to have your business for a long time, it's probably worth the investment to purchase towing equipment.
Typical Profits The average towing business owners make anywhere between $30,000 and $100,000 annually.
How does a towing company make money? A tow truck business makes money by charging customers for tows. A typical charge will include a flat fee for the tow, a mileage fee, and a storage fee.