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Towing invoices for Product quality

hey all my name is paul brosky and i am the owner of quality business plan and what i'd like to do today is to give you all some tips and tricks on how to write a towing company business plan um so the way this video is going to work is i'm going to go ahead and first give you a little bit of background about myself and then what i'm going to do is dive into some tips and tricks about i'm writing a towing company a business plan specifically for the company description section as well as how to construct a basic profit and loss section well specifically a basic financial model that's going to help you to quickly identify how many customers you need to service on a daily basis what's the average cost that needs to be attained from the customers and then from your your monthly fixed cost and your variable cost you know what are your profits going to be based on these few variables all right so without further ado let's go ahead and dive into this little handy-dandy presentation i've got concocted for your viewing listening and otherwise a pleasure for this um wonderful day all right so first and foremost a little bit about me and then we're going to talk about you and your towing company business plan needs i am a professional writer specifically a business plan writer so if you um try and you just just don't want to enjoy the trials and tribulations and the fun and excitement of writing your own business plan feel free to avoid that process by picking up the phone give me a call somebody text me email and i would be able to do i would be delighted to write your business plan for you um if you're almost there you've got your business plan almost done and you've got your financial your pro forma financial projections almost complete but you just need that little bit of a little bit of push over the edge check me out on amazon.com on amazon i do have some books published for um you know for writing business plans as well as understanding financial projections and financial statements and then finally i am an adjunct professor and subject matter expert for business and finance um so if you need um need some help with your financial projections your business plan is all done is squared away it's just those numbers that are giving you a problem again pick up the phone give me a call send me a text i would be absolutely delighted to help you with your financial projections all right enough about me let's talk about your company your towing company and give you all some tips and tricks for writing your towing company business plan all right so for tip number one this is focused on a company description section so when you're writing your company description section for your towing company you're definitely going to want to touch on the important aspects and the common aspects of the business plan in that section which is going to be your company name your address your lo um your geographic area of service you know where you could be going on towing vehicles what what area is going to be your um your your focus of operations but also in that section a lot of business owners they're going to miss they're not going to discuss the niche services that they're going to provide um some of the niche services that not all towing companies are going to provide is that you might offer local um services you might offer regional towing services you can even offer nationwide towing services as well so just keep that in mind is just because it might be common or just um you know it might be common sense for you to offer all three of those services a lot of a lot of your competitors are not going to do that so identify you know some of the things you're going to be doing differently also make sure to discuss or state that if you're going to be providing discounts to your customers you might provide a senior discount you might provide a you know military discount first responder discount if there's any discounts that you're going to be offering your customers that your competitors do not then again make sure you discuss that in your company description also some of the things that your competitors are not going to be doing is they might not offer car storage opportunities you know if you need your so if somebody needs a car stored for overnight until they can get into the garage or the mechanic or um what have you if you're able to offer that storage not only is an additional revenue source for you but it's definitely a competitive advantage in a niche service that not all towing companies are going to offer and then finally the um you know the the big rig towing the the bus towing uh semi-towing uh even heck the dump truck towing so if you're if you've got the equipment and the capabilities to um you know to tow the bigger pieces of equipment then make sure to state that as well all right next thing for the company description section is going to be discuss the your business and your um some structure models and what i mean by that is if you're going to have contract with an apartment company or if you're going to have contracts with a collection company you know to repo vehicles then make sure to discuss that as one of your um business models is because you know that's a strategic and it's operational model and you definitely want to let the reader know you know how you're going to be generating your revenues are you going to have are you going to be advertising online is it going to be with contract with companies it's going to be all of the above whatever it is make sure you're going to be able to touch upon that the next aspect in your business and your structure models make sure to go ahead and address any kind of common challenges in the industry for example in the tow truck industry right now there is a driver shortage so if you have a method or a strategy or a model that's going to um that is specifically designed to address driver shortages make sure to mention that as well and then finally discuss your competitive advantages if you're going to be using new trucks if you're going to be doing a flat bed as well as a as a traditional tow truck um whatever some of your competitive advantages that you have that other other tow truck companies are not doing make sure to discuss that information in the company description section as well all right and then finally for this tip is going to be go ahead and pepper in or go ahead and put in a little bit of industry statistics in your company description section when you for example a little bit of research that i conducted found that the towing company right now in the u.s is a 8.5 billion dollar industry and the growth rate is about 1.5 percent annually when you include statistics about your industry in your company description section is going to show first and foremost that you've done research you you've done you've dug in you've done some research and you're showing them that you you have that knowledge it's going to add credibility to yourself as a writer and a business owner also when you put that information in there and you put a source and you put it at the bottom of the footnote where you got that information from you're now adding credibility to the information that you're providing in relation to the statistics but it also adds overall credibility to your business plan you know someone when they're reading the business plan and they see um statistic one they say statistic two they're gonna say well if this information is right well then all the other information must be correct so you're adding credibility to your business plan when you use statistics like that whether it's information or correct or not it's it's besides the point it's the perception of the reader when they're looking at your document if they see sources in there it adds credibility all right and for the next section this section right here is for your financial projections um so now um when you're writing a business plan you do need to usually you're going to need to perform a financial statement for the 12-month profit law statement your income statement for five years your balance sheet getting into that it's going to be a little bit outside of the scope of this video i do want to keep it about 10 to 12 minutes um but what i do recommend is that any business owner that's going to start or expand their trolling company have some kind of a real simple financial model that you're able to use and change variables for like customer service average customer price variable cost your fixed cost i have that information in there so you can really quickly change some of the numbers that and have it provide you with some kind of an idea of what your net profits are going to be if you have this financial model i'm going to show you one just in a second if you have that model it's going to again help you understand how many customers you need to service in order to achieve your um your your wanted monthly profits it's going to help you set benchmarks if you know how many customers you need to get your profits then you're going to say you know what what do i need to do to get these customers and so now instead of focusing on all this you know stuff that's going on in your business you can kind of zero in on the important aspects such as the number of customers the average price and your fixed cost and then finally it's an excellent starting point for your pro forma financial projections if you have a basic model you can always blow that up and expand upon that to include your monthly projections as well as your annual projections and so on all right so here is the model that i am alluding to it's really quick it took me about 10 minutes to create this model it's got three sections this is your revenue section it's get your fixed cost section and then your monthly profit section for the monthly profit section all i do is i'm tying in your my revenue section and tying in my fixed cost section to develop my profits so the way that i am getting my profits is i'm saying that we're going to go ahead and just use average customers so the average towing customer that i have you know what is the sales price how many customers do i service on average in a day and what are my variable costs how much does it cost me in fuel and maintenance to the fu um to the trucks so once you have those um pieces of items in this example i'm saying that our towing company hypothetically services seven customers with an average sales price of 150 with a variable cost of fifteen dollars once i have these three pieces of information i can calculate my gross profits simply by subtracting my variable cost of fifteen dollars from my sales price of 150 and then what i'm going to do is i'm going to multiply my gross profits by the average number of customer service when i do that i'm going to know that my gross profits on average on a daily basis could be 945 i am then going to go ahead and multiply that by the number of days that i work in a week if i'm going to be working 30 days a week i'm sorry how many days are working a month if i'm going to be working 30 days in a month i'm going to multiply that 945 by the 30. next thing i need to do is come up with my fixed cost what are my fixed costs for this example i'm saying that our lease is i'm 550 labor 4500 utilities 450 marketing 500 supplies 250 accounting legal insurance about 400 and the miscellaneous to catch all is going to be 2500 that catch all um being an entrepreneur like every all of us knows it's it's almost like christmas every day we're going to have a surprise um and all too often it's going to cost us money so once you identify your fixed costs add them up and put them right here once we have our revenues calculated for the month and our fixed cost for the month it's simply um all we're going to do is we're going to deduct our profits 28 350 which is right here and right here from our monthly fixed cost 14 100 here and here and that gives us a net profit of 14 250 here is the wonderful thing about this once we have this little model created we can now start changing it what if we want to go ahead and service 10 customers and then maybe reduce our cost to 125. what is that going to do to our net profit so we know it's going to be 18 900 now but let's say that our um customers are going to drop to 500 out to five but we're going to be able to charge more money again once we start making these changes to these variables we're going to be able to identify which business model or which strategy is going to make us the most money for our towing company all right so with that said let's summarize this real quick so in summary make sure to work with a proven format when you're doing your towing company business plan um if you go to the sba website you can get a general towing company business you can get a general business plan that can be used for the towing company and a moving company in a carpet cleaning company and a tile company and a construction company and also a manufacturing company and even a captain of a ship company um so there's a lot of different uses for that and if you're going to use that kind of a template you've got to figure out what's applicable to you and what's not applicable to you by the time you're done you could have almost finished your business plan by using a customized template that is geared towards the towing industry and i do have one of those which is at quality business plan dot com forward slash towing company business plan template next is going to be keep the star of the show as a business as a towing operator and a company business owner um you might be doing it for 5 10 15 20 25 years and typically when i get a business plan from a customer um and they want me to edit it unfortunately when i start reading it it's almost like a biography for them as compared to a business plan for the company um so when you write your business plan make sure to keep the start of the show as the business as compared to yourself and then finally contact me for help if you need some help you finish your business point when it edited you need some financial projections or you want me to write the business plan and financial projections for you um regardless um give me a call pick up phone give me a call let me text you some email be delighted to help if you do want some more information on how to write a business plan for a towing company just go over to qualitybusinessplan.com forward slash how to write a towing company business plan all right so hopefully this information was helpful if you like it give me a thumbs up on youtube and as always have a great day thank you