Do you want to start a tow truck business franchise but lack ideas? If YES, here are 3 best tow truck franchise opportunities for sale and their cost.
Tow trucks, also known as recovery vehicles, wreckers, breakdown lorries etc. are used to help vehicles that are disabled, improperly parked, or impounded. They are also used for transferring damaged trucks and cars from the place of the accident to the nearest repair shop or the nearest truck stop.
Asides from actual towing, these companies also offer some roadside assistance which may include; fuel delivery, transporting heavy equipment, light duty or medium duty towing, flat tire changes, car battery jump starts etc.
It should be noted that the tow truck industry is a very profitable industry as there is no company that has a larger market share than the others, or that is dominating the market. This then means that the industry is open to fair competition.
One issue that has been noticed in this industry is the glaring lack of tow truck companies offering franchises. As of now, there was just one franchise in the tow truck industry, one franchise in the motorcycle towing industry and one franchise in the marine towing line.
So, if you want to start a business of towing trucks, it may be in your best interest to start off on your own, or you can research these slim pickings in the franchise towing industry and see if they suit your tastes.
3 Best Tow Truck Business Franchise Opportunities for Sale and Their Cost
- Speedy Towing
Since 2001, Speedy Towing has been serving Salt Lake County and the surrounding areas with top-notch professional towing services. They have clean cut, drug free, and expertly trained drivers as well as an outstanding reputation among their many commercial and residential clients.
Speedy Towing offers fast, safe and professional towing services at the most reasonable prices possible. All their drivers are wreckmaster certified and approved by law enforcement for accident towing and state impounds, and in addition, caring dispatchers are there to answer customers’ calls day and night.
The company offers their clients clean, well maintained, newer towing equipment; a well-trained, uniformed staff; and efficient, courteous service; while they offer their franchisees a turnkey operation, collective buying power, national and local advertising, location assistance, planning and forecasting assistance, ongoing support and consulting, financing etc.
- Liquid Capital Required – $30,000
- Total Investment – $65,900 to $120,400
- Motorcycle Towing Professionals
Fernando Reyes, owner and founder of Motorcycle Towing Professionals started his motorcycle towing company after considering all the discomforts motorcycle riders, like himself, go through in the event of a mishap or dead battery and other such occurrences.
According to him, Motorcycle Towing Professionals is a company created BY people who ride (and know and love motorcycles) FOR people who ride. It should be noted that all the employees at Motorcycle Towing Professionals are motorcycling enthusiasts who understand firsthand the heartaches and the serious complications from breaking down whether on the highway or in the wilderness; and they are available 24/7.
The company provides certain support to its franchisees and they include, operational marketing support, purchasing support, accounting/audit/legal support, ongoing research and development, franchise sales and overall program oversight, training, etc.
Each Motorcycle Towing Professionals franchisee has the choice of a new start-up business or they can convert their own towing company to be under the Motorcycle Towing Professionals umbrella. They are also provided an exclusive territory of up to 2 million in population or a 5-mile radius from the location.
- Franchise Fee – $20,000
- Royalty – 6%
- Total Investment – $30,000 to $40,000
- Sea Tow
Sea Tow is an international marine assistance provider headquartered in Southold, NY. Presently Sea Tow operates over 120 independently owned franchise locations in the United States, Europe, the Bahamas and Puerto Rico. Established in 1983, Sea Tow provides marine assistance services to the recreational boating public through membership or on a fee-for-service basis. Their services include; towing, ungrounding, fuel drops, jump starts, disentanglements etc.
Sea tow franchisees benefit from National membership programs and alliances with boat manufacturers and dealers, National purchasing power for various marine-related equipment, Sea Tow’s relationships with the U.S. Coast Guard, Coast Guard Auxiliary, U.S. Power Squadron, NMMA, MRAA, and others, and Sea Tow’s affiliation with C-PORT.
- Franchise fee – $35,000
- Initial startup investment – $125,000 to $275,000
- Liquid capital – $50,000
- Minimum net worth – $200,000