How I Built a $1M/Month Tow Truck Business!
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- čas přidán 8. 10. 2023
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ASAP Towing started with a single truck in 1996. Now, their 5 locations bring in a total revenue of $12 million a year. Founders Vanice and Vincent Serrano share how to start a towing business with this kind of long-term growth potential in this interview.
Cars are the Serrano family business. Vincent’s dad owns an auto body shop, giving Vince the chance to see how a small business operates from a young age. He knew growing up he wanted to start his own business, too, though he didn’t decide on a towing and storage business right away. In this interview, he’ll talk about the other options he and Vanice considered and why they ultimately chose the niche they did.
One advantage of starting a towing business is that you can start it with a small team and don’t need prior experience. Vanice and Vince will give their advice for aspiring entrepreneurs who want to start their own towing business, including what it costs to start and how they grew to 3 trucks quickly without taking out loans.
Today, ASAP Towing has a team of 50 driving its success. Prioritizing their people is a key piece of their growth strategy, and you’ll see what this looks like in practice. Customer service is crucial in the tow truck business, too-and often, when someone needs a tow, they’re already having a bad day. Vanice and Vincent will explain their strategies for interacting with upset customers, along with their other customer service tips.
If you like this episode, check out some of our past interviews:
Want to Start a Tow Truck Business? Watch This First ►
• Want to Start a Tow Tr...
19 Year-Old Starts a Trucking Business ►
• 19 Year-Old Starts a T...
Resources
asaptowing.net/ - Learn more about ASAP Towing on their website
www.upflip.com/blog/how-to-st... - Learn how to start a towing business step by step
www.upflip.com/newsletter - Subscribe to the UpFlip newsletter to get business advice delivered to your inbox
www.upflip.com/courses - Start a business in any niche from scratch with UpFlip’s courses
#towing #towtruck #towtruckbusiness
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You can only wear those short and colorful pants when you are able to surpass $12 million/year
That's his superpower to pass the 12 m a year
He said we're in the valet business 😂
Never thought of towing that way... until he mentioned it. 🫣
@@UpFlipi hate towing companies for this same reason so basically one day i was at a girl apartment complex came out after a few hours n then they got me :(
@@bushtyga999parked in numbered parking most likely
💀
He is thinking outside the box, making his company different from others
Thank you for coming back and showing what you can accomplish when you’re not just running your truck for scraps! This industry CAN be a gold mine.
Fantastic video !! Vinnie has a very upbeat attitude and love for what he does.. his best advise was .. do what you love.. thanks guys.. I’ve been kicking around doing a towing business for years..this video was very insightful and has rekindled my interest.
They were so great to spend the day with, absolutely enjoyed it!
You need to talk to people that’s been there and learn who he really is
@@Fouraces5 I agree we as a team don’t know all there is about this company. Can you elaborate if you will please?🙏
Vinnie is an excellent salesman and he answered all the questions directly. His ex-wife is an excellent business partner as well. I wish continued success to them and the Upflip channel.
This is a great interview, well appreciated
Vince was the business teacher I needed in college.
He has that authoritative yet fun vibe 🥳
Started with the family-owned body shop biz.
Branched out to towing (heavy-haul trucks, breakdowns, impounds, accident wrecks, customers: law-enforcement, dealerships, private individuals looking for roadside assistance).
5 locations
Storage fees (∼$25/day) - 800-1000 cars per month = Revenue ∼$100k/month.
Auctioning off some impounded and unclaimed cars + charge auction fees of 13% on sale. ∼300 cars per month x ∼$1K per car = $300K/month.
Truck park.
Overall 16% net margin
😂😂 800 to 1000 cars a month in storage 😂😂😂 yeah fucking right on what planet and the math on 300 sold per month at a grand each 😂😂😂😂😂😂😂 bullfucking shit
If your numbers were bullshit which they are the 300 you sold means you lost the storage on them so that comes from the original way inflated 800 to 1000 ....
You'd need 100 plus trucks and drivers to handle that many impound plus regular tows
I loved Vinny's shorts and his vibe; Vannis has a great, mellow, intellectual vibe. She's super smart, creative, loving and competent as a business owner - and a mom -- my guess is that she has to defer a great deal and bring such gifts down a couple of notches so that her closest peeps listen -
They're an interesting duo and their definitely match the vibe in this business! Thanks for sharing your thoughts! 😊
It's so great to see successful story, listening and hearing their journey to success. Love your videos upflip
Thank you for being a part of our community, and we look forward to bringing you more inspiring content in the future. 🙌
Thank you it's nice to be motivated by this man thank you
Vince is a straight shooter for sure. Loved business tips shared in this video. Both Vince and Vanice are OGs of business so you bet they know what they are talking about. ❤this interview. Although it could have had more depth in terms of process breakdown and share more about how they scaled from O to 12 mil.
Absolutely, they've got the experience and knowledge that's hard to beat. Your feedback is much appreciated! We're always looking to improve our content and provide even more value to our viewers. 😊
He’s not
@@Fouraces5and you are?
In this business, the market will take you out if you're not legit. We have been providing services to our community for 28 years.
@@vincentserrano2289great video Vince . Your business is run great!
I love this guys style LOL. He is what happens when Florida Man makes it.
Congrats Entrepreneurs! LETS GO!!!!
Let's goooo! 🔥
Love your videos.
Glad you love our videos! Your support means the world to us and keeps us motivated to create even more content. 🙌
In Florida, a CDL is not needed if GVW is below 26000 lb.
This dude is funny. I bet this has helped him in business. Having fun with what you’re doing and helping employees have fun is important.
Vinny's a living testament to the idea that work doesn't always have to be overly serious. It's important to find joy and have fun along the way, just like he advises - doing what you love can make all the difference! 😄
Lmaoo it’s funny as hell how he looked around when he said “she calls me an AHxle” Lmaoo he had to see if the coast was clear
This dude is probably the realist business guy i have ever heard speak. NO BS, he just keeps it a buck$ 😎
I like that he said, "Give them their space and don't micromanage". Employees are human and they have bad days too.
It's the best advice when it comes to handling people. Happy employees = successful company 🙌
Great video
It's refreshing to hear non business related answers from the BO to the questions for a change.
It's a joy to ask him these questions ☺️
Awesome bro! Pay it forward and teach this youngsters to work hard and not be lazy!
We have taught many people to work in the industry. Motivation is not something I can teach. Laziness is rampant. I really like to see others succeed.
What’s so crazy is I’ve been thinking about this strategy for yearsssss once my friend told me they keep the cars after 30 days . Like literally then this pops up.. already done . Wow
That's the first step. A business idea. Now, do a little more research and take things a step further. Don't let fear keep you from trying.
U said 30,000 started in this business you said?
@robertkelley7678 Vanice and I bought our 1st truck for about 20k. We paid cash for it, and I painted it as that was my profession at the time.
Our 1st year sales were around 50k, but that was from July 1995 to December 1995.
@@vincentserrano2289 You built your business in 1995 . Jax was a lot different then opposed to now . Wouldn't you say that you got in at a good time ? Do you think in todays economy with all the competition that you can start from scratch and repeat the process ?
Always enjoy the videos when this guy host!
Thank you! Is there anything you like in particular about Paul's hosting?
Yes. Paul always ask great questions, and he doesn’t get to nosey like he knows the boundaries but probes a little bit to a better explanation. Last thing on that just seems like he knows how to ask the right questions, so the interviewees feel comfortable but aren’t sharing all there secret sauce either. But I guess that comes with building trust, getting to know and reading the person you’re interviewing. Overall seems pretty positive, and sincere when interviewing. Just my 2 cents. Lol
A while back, I always like car storage lot business to store long term/short term cars, RVs , vans etc. It is very low overhead, no maintenance on land etc. However, I don't want to drive a tow truck to tow a car, too dangerous and I am too small/old.
That's a valid concern. Have you considered hiring a driver instead?
Awesome I’m happy for you God bless you
Love them & the business name. People want to be towed fast(or out of impound fast) & banks want the repo fast
Vanice is waiting to file for separation to get half of that 😂
Vanice and I are best friends. We just fell out of love, but we respect each other and take care of our twin girls and the business with much love.
@@vincentserrano2289 👍 I was just joking
Love this vid ive seen them before i live in jb
That's awesome! Thank you for watching ☺️
Due to the Gross Vehicle Weight of the truck you'll be operating (or for tow trucks in the industry), you'll need a CDL. Right now, there is a high demand for truck drivers, that the federal government has a grant program that will pay for your training at a certified Truck Driving School to get a CDL Class A. The one I went to, it was 40hrs a week for 4 weeks (so you'll have a hard time fitting it in with any job you are currently working for MOST people), so you'd have to use up your paid vacation time .. and then some, or quit the job. Once you get that CDL, you could start your job search at tow companies.. Like one answer Vinny(Vinnie?) gave, he gives his employees a flexible schedule. If you are doing a Mon-Fri job, try to find a place to hire you and train you up on the weekends. If you enjoy the tow work, you could quit your other job and tow full time.
BUT, before doing anything from the above, I'd suggest contacting a few tow companies in your area and see if you could do a ride along or something, see what the work is REALLY like.
Thanks for sharing this valuable information. Do you think truck drivers would benefit from towing more than other trucking businesses?
@@UpFlip It would depend on the person, their situation and what they want. A lot of jobs for long haul trucking, but there are a lot of local trucking jobs as well, and other jobs that require a CDL, like dump truck, ready mix (concrete mixer truck) and much more.
A lot depends on what your situation is. Like if you want to just have it a side hussle, than long haul really wouldn't be an option. The big companies that do dump trucks and ready mix in my area, they rarely operate on weekends. These are just some examples on how your options would be limited IF it were a side hussle.
I’ve grown up in the heavy equipment industry and have run my dad’s business for him for 10 years. He’s 70 and was supposed to sell the business to me 5 years ago. I quit and I’m working away from home and my family for 2 weeks at a time. I’d really like to having a towing company. I really wish I could find a good mentor. Thanks for the content.
Perhaps you could consider starting at your local towing business to learn the ins and outs if you can't find a mentor. It's a great way to dive into the industry.
I'm in jax. I see these guys often.
I love all the content this channel posts...Just realized today I've never commented so marking my territory.
We appreciate your support! Any business you want to see next? 🤔
This is bordering on Clickbait. He’s running a salvage business, not a tow truck business, and it’s not just one truck.
I don't sell parts. I do towing of cars, trucks, and semis, and specialize in clearing our highways from major accidents.
I'm not sure where you get your information.
Most comical video I have seen in a while and the lies are on point fantastic. 🤣🤣🤣
Can you let us know which lies were mentioned? We value our viewers' opinions and would love to know if any points are misrepresented. This helps us improve and continue producing factual and valuable content. Still, we thank you for watching and hope you continue supporting our channel! ☺️
The whole video is lies…every bit of it he takes advantage of employees..messes with their money…they where removed from towing for Jso because of issues with the way he does his business…they where removed from St. John’s county for lies..the only thing in this video that was true is that they are in Jacksonville. If you wanna know the real truth you need to talk to his drivers and find out who the real Vinny is
@@UpFlipyou know points are misrepresented you clearly titled the video leaning twoards this business brings in 12M a year when the guy said they’ve made 12M in 28 WHOLE YEARS OF BUSINESS..
@@jetgoskrrrt 26:08 Vinny says that the business brings in $1 million a month in revenue.
Do the math
@@Joseph-gi2hc the owners a shitty person and idk why the call him Vinny in the video but he’s a con artist..and gives no fucks about his employees or the business just his bank account..he is losing employees left and right
I worked as a flatbed driver at one point, it’s a grind forsure. Commission only. 1 day on call one day regular schedule. You can easily pull 1500 a week which ain’t bad if you ain’t got many other skills at the time.a atleast where im from. Not for me though. Lol.
That's not bad! Where do you live? Have you started your own business or moved to another job?
How much was your commission %? What did you average daily?
Sometimes these tow companies overcharge or take advantage of customers in bad situations. Hopefully that isnt the case with this one, still interesting to see the ins and outs of bussiness
During distressing situations, they extend a generous $100 cashback offer to assist their clients until they get back on their feet. We think this is a very thoughtful gesture and very unique too! ☺️
We are very regulated on the fees in Jacksonville. We extend those same prices to other counties that don't have regulated fees.
Of course it’s a challenger on the thumbnail😂😂
Once you have an atm within your business facility, you know you're making some regular cash flow
Stevewilldoit aged quick
My daddy worked for you many many years ago do you remember Aaron Cooper he worked for you in Jacksonville beach body shop I remember you when I was a child
Most people don’t pick up their cars because they simply can’t afford to.
You make a good point!
We work with car owners who have an interest in keeping their car. One big problem is the cost associated with new tags for out of state vehicles.
Treating your employee well and not micro managing them is the path to setting up a successful business.
As someone who is still an employee seeking to be a business owner I’d like to assume this is far from the truth. We are way too entitled now in days & most employees will believe just because you own the business you must be rich and they deserve more.
We provide a valuable service. Property owners deal with car owners who use private lots to sell cars. Some block fire lanes, and many cars are abandoned. We handle many accidents and clear roadways to keep traffic flowing. We are the quickest and best prepared towing company in our area.
He's got on those rich man's pants.
It's definitely a vibe ☺️
Insurance for a tow truck is very.. high. You better make money or you be out buisness quick.
It is one of the biggest costs to deal with.
@vincentserrano2289 what do you pay for insurance every month?
@@awlooloolo our insurance just for trucks not including property insurance, $55,000/month.
@@vincentserrano2289 how many trucks and what type
@@awlooloolo we pay 58k per month. It has gone up 3k per month since my last reply.
Let's begin for a new content video
Hope you enjoy this one! We're excited to bring you more content like this. 🙌
When I lived in Jax, I got suckered into MLM. BAD mistake. Went broke real fast. I definitely made the wrong choice in business.
What does MLM means?
@@user-du4rp9ex1lmulti level marketing aka “pyramid schemes”
I want to do this ima do this one here
My best friend followed some of my advice. He had 2 strikes against him dealing in drugs. He turned his life around and has a nice towing operation, and is doing well. You can, too.
@@vincentserrano2289how much do flat bed drivers earn working for you?
@@user-uj7lb9ot1x it highly depends on experience, but a range would be 800-1400/week.
I wonder how does he auction off cars say if the original owner still owes on a loan?
The law has procedures that must be followed. All interested parties are notified via certified mail. An auction date is made, and then if the owner or lien holder fails to pay fees, then we hold a public sale to recover fees. The money above our fees are posted with the clerk of the court.
Easier said then done
I Don't Think I Could Ever Do Towing As Career
Good tip don't waste time thats it
I wonder why they broke up ?
He sounded a hard worker ,if not a bully.
28:16
Without doubt ,those are the most flamboyant pair of pants l've ever laid eyes on .
And they certainly do fit the man! 🙌
In 5 years i will be on this show...
What industry are you in ?
@@yafri05towing
Towing
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We appreciate you tuning in! Thank you! ☺️
Every. Single. Towing company I've encountered have been horrid all around.
Damn all that work for their future and it ended in divorce
We are still close. We go on vacation to celebrate our twins' birthdays along with our significant other.
Divorce is what you make it nothing last forever.. marriage is a businessShip not love
Ex wife now my best friend you know they still in love 😂😂
Get Rich quick.
Well, based on how this couple look like, I'll definitely not going to start such business.
What do you mean? They're good people and successful. What's stopping you? 😉
I am 58 and have more energy than people half my age. I feel youthful and feel like I look much younger.
Call him a what?
Blue roof....
Its vibrant color create a picturesque view. What color's your roof? ☺️
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Thanks for watching and supporting our channel! ☺️
Total revenue of 28 years, not 12 million a year.
Trust me ......they are doing 12 million a year ......... Their insurance is 55,000 a month . I own a 5 truck towing business and we do 500 to 800,000 a year and my operation is no where near the size of ASAP .
Perhaps, but at 1:05 he states total revenue?
did she really let him wear those
Sounds like their scamming people. 😂😂
Scamming? We worked hard and became the largest towing company in the largest city in the United States.
Almost all of the businesses shown on this channel are all based in warmer climates. Most of them could never take off and work at their current level of success in colder climates
Where are you watching from and what kind of businesses do you have there? We’re curious to know and maybe we’ll feature them in our next episode. 🙌
@@UpFlip Whitehorse, Yukon, Canada. Population is only about 30,000 but growing. I'm a solo contractor here, I am pretty bankrupt, I tried but failed, it happens. Great channel!
Yeah it’s not the 70s anymore either
12m in revenue and 9m in yearly expenses?! Oof
3m is 3m playa
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Extortion Money
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Hope you enjoyed this video as much as we enjoyed making it! 🙏
It amazes you!? Well it disgusts me! That you make hundreds of thousands of dollars stealing peoples vehicles.
So you pay extra money to have your private parking space, and someone else parks in your spot. What are you going to do?
@@vincentserrano2289 that's a weak point but still an example of how gross this is. Someone is temporarily in your spot so you get their car taken.
Remember that this is legal, and the state has rules for it. They don't tow for no reason. Just think about it: would "stealing" be legalized in your state?
People park in Handicap spots. Vehicles registrations aren't current. They probably don't have insurance and get in a wreck, then you wish we would have towed them.
How about blocking fire hydrants? Double parking so someone doesn't park next to them? We provide a very necessary service.
@@vincentserrano2289 I'm aware of what a tow company is
Wow as a black man this guy is like a dad I wish I can work for him I hate my trucking job I always wanted to start a tow business and own it
very misleading…… 12M in a year vs 12M TOTAL REVENUE IN 28 YEARS is a hell of a difference.. stop misleading your audience
It’s 12M in revenue a year.
It's in a year and not in the course of 28 years. 😉
@@UpFlip Well it’s confusing because at 1:05 it says total revenue is 12m in 28 years
We have achieved 12M in revenue over the course of one year. If asked a question through the comments, I will be happy to elaborate.
@@vincentserrano2289hello Mr Serrano how can I get in contact with you? I would like to learn from you, thank you.
This is a buisness where you need money to make money. Not easy to get a coompound or a solid truck
Find a parcel with an affordable rent. Preferably one that has an option to purchase. One used truck is all it takes to start.
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We hope you enjoyed the video - thank you for watching! ☺️