TOW TRUCK BUSINESS PLAN SAMPLE AND FEASIBILITY STUDY REPORT FORMAT
Do you need a towing truck business plan sample for your intending tow truck business? If you are about starting a tow truck company and you don’t know the where about of how to draw a tow truck business plan, this post is for you.
Here, I will be sharing a sample of how a tow truck business plan should look like. It is expected that you already understand how the business is operated so I don’t need to go into that.
One of the very important documents of all businesses is the business plan which should not be taken for granted when you are about to launch your business.
Business Name: Safe Towing Truck Services
Sample Towing Truck Business Plan Template and Feasibility Report
- Business Overview
- Executive Summary
- Products and Services
- Vision Statement
- Mission Statement
- Target Market
- Competitive Analysis
A tow truck is also known as a recovery vehicle or wrecker that is used to move broken down vehicles, improperly parked or damaged vehicles away from the road to avoid obstruction of traffic. Tow truck companies also include incidental services in their services such as: emergency road repair services and storage for profit maximization.
Report has shown that over five years, the age of vehicles and number of vehicles on roads has increased making the number of repairs and towing services to increase. The fact that the higher the number of vehicles the higher the need for towing services is very true.
Therefore, the towing industry is a successful and thriving industry in the world, it is one of the major sectors of the economy and is responsible for the employment of a large number of people including staff members and professional drivers.
Starting and managing a tow truck business can be challenging and tasking but at the same time rewarding. The business is open for both aspiring entrepreneurs and big time investors.
Safe Towing Truck Services is a towing truck company based in South Dakota. This is a standard towing truck business that will provide essential services in South Dakota and United States as a whole by moving broken down, indisposed and improperly parked cars away from the road to avoid obstructing the free flow of traffic and also town both light and heavy vehicles over long and short distances depending on the agreement.
The company’s services will focus majorly on the following cities: South Dakota, Memphis, Chicago, St. Louis, North Dakota, Western Kentucky, Tennessee, Nashville, Evansville, and Missouri.
The business as already being registered and licensed. All licenses and permits required to operate in the United States has been secured and we will ensure that all rules and regulations guiding the industry is obeyed.
The goal of the business is to become one of the leading towing truck company within the first few years of operation. This is a family business owned by David Steve and his immediate family.
PRODUCTS AND SERVICES
The company is determined and set to deliver brilliant services to customers by helping them move their broken down vehicles from one place to another. This is because we want to be known and seen as a company that has its clients at heart.
The following are the products and services that will be offered to customers:
- Towing of motor vehicles
- Emergency road repair of vehicles
- Towing of trucks
- Towing of light duty truck
- Towing of passenger car towing
- Motor vehicles wrecking services
- Roadside assistance services
The vision statement of the company is to become one of the leading and best companies whenever people are talking about tow truck companies and their services in the whole of United States.
Safe Towing Truck Services’ mission is to have the best and very reliable towing truck drivers to boast of and also to establish a towing truck company that will operate well in the whole of U.S.
Safe Towing Truck Services’ business structure will be designed in a way that both full time and part time employees will be able to work there. The company’s intention is to start the company with many full time employees and qualified truck drivers. There will also be adequate provision and packages for full time employees.
Below is the business structure of the company:
- Chief Operating Officer
- Admin and H.R Manager
- Transport Manager
- Sales and Marketing Manager
- Professional Towing Truck Drivers
- Customers Service Executive/ Front Desk Officer
The target market of the company majorly are transportation and haulage companies and every individual with cars in the United States. The towing will be done within short distances and long distances, that is, both intra and interstate.
The company has a list of people and organizations that we intend to do business with and they are:
- Vehicle Owners
- Haulage Companies and
- Transportation Companies.
We are fully aware of the fact that the towing industry is highly competitive and the company is ready to compete with other players in the towing industry favorably. The major competitive advantage we have is the industry experience, good business structure and solid reputation of our owner, David Steve who happens to have adequate knowledge about the industry.
Also, some of the basic factors that will give our company a competitive advantage are: good network, honesty, trust, excellent relationship with customers, direct access to major highways, and having a well-qualified and trained management team.