I wanted to ask if anyone else started in a different field before jumping into the towing business. I started mine over six years ago and it grew quickly. We have a large fleet (30+ trucks) and do almost every type of towing except repo and residential tow-aways. It has been good for the most part, but lately, the burnout has hit hard. All the struggles of this industry are catching up to me. From the employees to damage claims, rising insurance costs squeezing profits, expensive new equipment, and plummeting prices for used gear, everything is just constant headaches. It feels like too many things are going wrong. I just wake up each day trying to make it through. The excitement of growing the business is gone. Has anyone here left this industry for something else? How did it go? Did you feel like a weight was lifted and did life improve? How did you get out?
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Maybe selling the business would be a good option if you’re not feeling up to it anymore.
The grass always looks greener on the other side. If you’re making good money, it might be worth sticking with it. Your equipment, client list, and all that stuff are valuable. If you do want out, selling might be the way to go.
I’m not in towing but I’m in trucking. Things are tough, but they’re getting better. What state do you operate in?
I think about this all the time in my own industries. The truth is, you could be talking about any small business. There are always headaches when you own a business. That’s part of the deal. If the business is doing well, meaning you’re making money, try to look at the bigger picture. Write down what you like and dislike about the business. Then separate your tasks into job descriptions and hire people to handle the things you don’t want to do. It took me three years to get it right, but it really helped me manage the load. It’s still there, but having a team really makes things easier.