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Typical Profits The average towing business owners make anywhere between $30,000 and $100,000 annually.
How much profit can a towing company make? The average tow truck business owner makes between $30,000 and $40,000 annually.
A towing service must obtain a vendor's license for each fixed place of business where the towing service provider is located," according to ohio.gov. To apply for an Ohio vendor's license, contact the Ohio Department of Taxation, or go to the "Ohio Vendor's License Application" link (see Resources).
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.
A towing service must obtain a vendor's license for each fixed place of business where the towing service provider is located," according to ohio.gov. To apply for an Ohio vendor's license, contact the Ohio Department of Taxation, or go to the "Ohio Vendor's License Application" link (see Resources).
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 ready to learn more, read on for how to start tow truck business in six steps.Step 1: Write your business plan.Step 2: Register your business.Step 3: Secure startup funding.Step 4: Obtain licenses, permits, and business insurance.Step 5: Promote your business.Step 6: Know your responsibilities as an employer.
If you provide towing services, you may need a commercial driver's license. It depends on the size of the vehicle you will drive and the weight you will tow. Contact the Ohio Bureau of Motor Vehicles at (614) 752-7500 for more information. Information and registration forms can also be found online at bmv.ohio.gov.
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.