Tom Barrett, a Wisconsin politician, once said, “Chaos in the world brings uneasiness, but it also allows the opportunity for creativity and growth.” Coming out of the past two years makes his quote more relevant than ever for small businesses in America. There are many options available to business owners to attract more customers and achieve greater revenue, but it’s crucial to employ tactics to ensure that net profits increase accordingly. The key to growing net profits is typically to attain higher operational efficiencies.
Here are a few strategies to grow your wrecker and towing business in your community.
- Monitor your fuel expenses closely. Fuel costs represent one of the most significant expenditures in the towing industry. Reduce costs by assigning your drivers the most efficient routes and take advantage of cardlock fueling programs where available. Fuel purchased from cardlock network providers is discounted from standard retail prices. Cardlock programs will also make auditing expenses easier and prevent employees from using the card for unapproved purchases.
- Build relationships with other small business owners. Network with business owners in your community and ask them to send business your way. Provide free signage for their parking lots that indicate your business will tow any unauthorized vehicles on the premises. In exchange, you might offer free battery charges for any of their customers who have trouble starting their cars.
- Consider expanding into vehicle repossessions. For confident towing professionals, taking on repossessions can add significant income to the bottom line. Beware, this work can come with additional stress and strain as vehicle owners will not be happy to see you coming.
- Partner with auto body and repair shops. Build strong relationships with these owners and managers, so you become a respected and trusted partner to help their customers with towing needs. You’ll need to prove you are committed to the same level of service as the repair shop, but doing so can put your company’s number into their speed dial.
- Invest in your website and explore mobile app technology to receive more calls. Gone are the days when customers looked in the Yellow Pages for a local towing service. Now, they search the internet for options or use technology like Urgent.ly to get roadside assistance. Work with an advertising agency to help make your website more visible in search results and promote your company’s differentiating qualities.
Of course, another great way to expand your business is by building a reputation for having the best equipment for getting cars and trucks out of tough spots with ease. If you haven’t checked out Collins’s Hi-Speed DollyⓇ and Carrier Dolly systems, you’re missing out on valuable business opportunities.
These systems are lightweight, so your employees can easily transport them from their trucks to the customers’ vehicles. Our safety ratchet systems protect the employees and the vehicles from injury or damage from unexpected drops. Tow drivers find our equipment simple to install and easy to use, and customers appreciate how well the equipment protects their vehicles.
Collins has been an industry leader in the towing equipment industry for over 45 years. Our Hi-SpeedⓇ Dolly and Carrier Dolly systems provide towing professionals with lightweight solutions durable enough to get even large vehicles out of challenging situations and transport them safely wherever they need to go. Our products are designed with safety first to keep your employees safe while attaching and moving vehicles and can help grow your wrecker and towing business in 2022. Visit our website or give us a call to learn more about our products.