Tow Truck Business Plan Template [Updated 2024]

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V. Competitive Analysis

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Direct & Indirect Competitors

The following businesses are located within a 10-mile radius of [Company Name], thus providing either direct or indirect competition for customers:

Metro Towing LLC
Founded in 2009, Metro Towing has helped both individual and commercial customers with all their towing needs. They have a large fleet of tow trucks of all sizes that can help tow both small passenger vehicles as well as larger trucks and vans. They also provide limited roadside services, such as jumpstarts and tire changes.

Though Metro Towing does tow passenger vehicles, much of the company’s customer base consists of commercial drivers. Therefore, the company will not be a major competitor.

Jack’s Tow And Battery
Jack’s Tow And Battery offers tow truck and roadside assistance services for passenger vehicles throughout the [Location] area. It offers all the services a stranded driver may need, including a tow, jumpstarts, tire changes, and lockouts. For decades, Jack’s has been a go-to tow service for stranded drivers.

Though Jack’s Tow And Battery will continue to thrive, it has recently changed its business model, so it gets most of its business exclusively through its insurance partners. This means that we will not have significant competition from them.

24/7 Tow And Roadside Services
24/7 Tow And Roadside Services provides exactly that. Open 24/7, the company helps stranded passenger vehicles at all hours of the day. This company is convenient for drivers who struggle to get a tow or emergency roadside services in the middle of the night.

Though we can’t compete with their hours, [Company Name] is far more affordable than 24/7 Tow And Roadside. This means we will remain competitive with them during our daytime hours of operation.

Competitive Advantage

[Company Name] enjoys several advantages over its competitors. These advantages include the following:

  • Customer-Focus: [Company Name]’s tow drivers provide the highest quality customer service focused on transparency, communication, and responsiveness throughout the process. Our goal is not just to help drivers’ immediate needs but to create long-lasting connections.
  • Management: [Founder’s Name] has been extremely successful working in the industry and will be able to use his previous experience to provide excellent customer experience. His unique qualifications will serve customers in a much more sophisticated manner than [Company Name]’s competitors.
  • Relationships: [Founder’s Name] knows many of the local leaders, business managers, and other important figures within the local auto and tow truck industries. He also already has an initial client base that he built during his time working for our competitors.
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