Acquisitions Anonymous - #1 for business buying, selling and operating Towing Business for Sale: $6.8M Deal with Family Drama
Aug 2, 2024
A $6.8 million towing business deal in North Carolina highlights the challenges of family ties in acquisitions. The hosts discuss the business's impressive cash flow and the complexities of asset valuation. They delve into the emotional dynamics involved, particularly the risks tied to the seller's son. Operational hurdles and employee dependency also come into play, stressing the importance of employee retention strategies. With insights on navigating loans and growth in the towing industry, the conversation is both informative and engaging.
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Tow Truck Races in South Africa
- Mills shares a story about tow trucks in South Africa racing to accidents.
- They often cause more accidents while trying to be the first on the scene.
Impound Lot Economics
- The business model relies on storage fees, not just towing.
- Impound lots generate revenue through daily storage fees for towed vehicles.
Specialized Fleet and Margins
- The towing company's 27 trucks and 13 employees suggest a specialized, high-margin operation.
- Many trucks likely sit idle, allowing for higher margins on individual jobs.