Set Your Towing Business Up for Success in the New Year

Ten Ways to Set Your Towing Business Up for Success in the New Year

Even if you’re not a fan of “new year resolutions,” the start of a new calendar year is a great time to get your operations on track for a year of fantastic business results.  Here are a few tips from the team at Collins to prepare a strong foundation to set your towing business up for success this year: 

1. Get organized.  The new year is the best time to create organizational systems for your essential documents.  Clean out your file cabinets of papers you no longer need and invest in a pack of new file folders.  Create filing systems to keep your invoices, payroll information, expenses, and tax information up-to-date throughout the year, so you don’t have to hunt it down next January.  You might also explore new online document storage options.  It’s now affordable to have a desktop scanner, and there are software options for every budget and complexity.
2. Create a budget.  Some businesses have textbook-perfect budgeting processes, while others rely on addressing expenditures as needs arise.  Budgets help reduce the stress and strain of business fluctuations.  Today, there are simple software solutions anyone can master to help small business owners build and track budgets.
3. Schedule safety training meetings.  It may seem like you just provided safety training, but providing quarterly refresher training sessions will keep safety at the forefront of everyone’s minds.  Safe performance on the job will help reduce absenteeism, workers’ compensation rates, health insurance premiums, and other health-related expenses.
4. Update your PM program.  Preventative maintenance is vital to keep your towing fleet operating consistently and efficiently.  Ensure managers conduct routine maintenance like oil changes and tire inspections as recommended.  Talk with your mechanic about your fleet and ask for recommendations to keep it in the best condition.
5. Review your insurance.  When was the last time you looked at what your insurance plans cover and compared rates in the marketplace?  An insurance broker can bid out your company’s policies to various insurance carriers and help you understand the specifics of each plan.  With a bit of time and effort, you could save big bucks with lower monthly premiums.
6. Clean house.  Take a look around your office, warehouse, break area, and garage.  Now’s the perfect time to throw out or recycle items you no longer need for the business and then grab a broom or mop to remove a year’s worth of dust and grime.  Cleaning up the property will help energize you and your employees.  Don’t forget to detail clean the tow truck cabs, too!
7. Reinvigorate your marketing plan.  Every company needs a marketing strategy to attract new business.  Local marketing agencies can help you create a simple and effective website and recommend options for advertising your business that meet your budget limitations.  Partnering with business owners to provide parking lot towing and emergency lock-out recovery services will add a little extra revenue to your bottom line.
8. Recruit for the future.  It’s getting more challenging to find qualified employees.  Consider talking with local high school vocational instructors about opportunities to introduce towing services to high school students.  Many high schools offer internship opportunities in local businesses to help students get work experience while earning high school credits.
9. Find at least one new opportunity for networking.  Does the word “networking” make you cringe?  Consider networking as just a way to connect with other business owners and community groups in your city or county.  Establishing channels of communication with others helps keep you informed about changes in the community, opportunities for your business, and possibly even gain your company some referrals.
10. Evaluate your equipment.  Yes, you need a complete inventory for tax purposes, but it’s also an excellent time to examine your equipment and consider replacements.  As equipment becomes worn or defunct, you’ll want to talk with your accountant about the best way to replace it.  New equipment often equates to safer working conditions for your employees and increases their job satisfaction.

How would you like to provide the safest, lightest, and easiest towing equipment to your employees?

If you haven’t checked out our Hi-Speed^Ⓡ Dolly and Carrier Dolly systems, you’re missing out on one of the best investments you can make in your towing business.

Collins Manufacturing has been the industry leader in towing equipment for 45 years.  Our Hi-Speed^Ⓡ Dolly and Carrier Dolly systems make towing vehicles from even the most challenging situations safe and simple for your crew.  Our safety ratchet system prevents injuries to employees from slipping grips and prevents the vehicle from dropping.  When your workplace and employees’ safety matters, choose Collins.  Contact us today to learn how you can implement Collins towing equipment in your company.