How hard would it be to start a towing business? ?

Question

I'm fairly young, 25, and I would like to begin my own business within the next 3 or 4 years. Does anybody know what I would need, other than the truck, to start this business?

Answer 1

Check with your state.  You will probably need to submit fingerprints and undergo a background check.  You'll need a business license and insurance, a storage yard for towed cars.  

Before you go any further, I STRONGLY recommend you contact the Small Business Development Center (at your local community college) and talk to them; the counseling is free.  

Then sign up for the NxLevel Entrepreneurial program...  it's a 12 session course that walks you through the ins and outs of starting or growing your business, and as part of that you will write a business plan.  At the end of the class your plan will be reviewed by a lending professional, and will be critiqued, telling you the strong points of your plan AND the weak points.  

There is a cost for the NxLevel program but it’s a lot cheaper than losing your investment.

Even if you hire a professional to write your plan, you should still take the NxLevel course.  It saved me from going into a business that would have failed within a year or so, taking my investment with it.  

Business plans may be a pain in the butt to prepare, but without one, your business is doomed to failure.  To start with, you won't know what your startup costs are going to be, what kind of income to expect, what your ongoing expenses are, who your competition is, and even whether or not you can make a profit.  Without a GOOD business plan, you will not be able to get a business loan to get your business off the ground.

Answer 2

you can find the forms for your state on this site.  they also help you set it up:

http://www.northwestregisteredagent.com/...