Articles
Written By the TowProgram Team |
|
Collections Article Support Document |
Steps for Successful Collections
By TowProgram
-
Post Warning Sign In Shop- Posting a simple warning sign in the shop could let customers know you’re serious about collections. A simple sign saying: If You Have Been Contacted by our Collections Agency We Can No Longer Help You.
-
Fill in the Gaps for Your Collection Partner- Sure the collections process is the responsibility of the agency but in my experience they are going to work the percentages. They want to submit large amounts of claims and bet that 10-15% will pay out. You can increase your odds by providing them owner information, pay stubs and other identifiable information you find in the car before salvage/sale. Every little bit helps and increases your chances of getting paid.
-
Submit Information To Collections Partner Weekly or Monthly- Having a routine for submitting contacts to your agency can assist them in increased collections success. People move, change jobs and otherwise make themselves difficult to locate. The sooner your collections agency can begin the process the greater the likelihood will see some money.
-
Keep Your Cool- Maintaining a professional presence for your company can result in increased income. Many customers are already feeling uncomfortable and want to resolve the situation but may not have the means. If you want to manage it, offer a payment plan option before involving the collections agency. Show you’re willing to achieve a creative but effective solution to the situation and customers may be more willing to work with you. Remember, its just business. Never make it personal for you or the customer.
Download A Sample "Shot Across The Bow Letter" Free. It will help Tow Companies Make More Money |
About TowProgram
Built By Towers, For Towers
Developed by Dennis Wencel the Black Book of Towing was created to help towing businesses succeed. He has taken his experience in advertising, marketing, accounting and finance and combined it with his years running a towing and recovery company to create a proven plan to increase company profits by working smarter and not harder.
As an industry, towing and recovery professionals sometimes view each other more as enemies than allies. We rarely share experiences either of successes or failures with our fellow operators. And often any information that is shared has been embellished a bit.  This may be born of necessity as any leg up we provide to our direct competition has an immediate and adverse effect on our ability to support our own family.
In my years spent in towing and recovery, I've found an abundance of quality sources for learning what truly is the art and science of towing and recovery. There are widely available programs such as TRAA (traa.com) and Wreckmaster (wreckmaster.com) as well as many regional and local providers of training and towing skill development. In addition, many of us in the business have automotive repair or body shop backgrounds. So the mechanical side of the business tends to come more naturally to us.
What I did struggle to find were resources for the other half of what we do—running a successful towing and recovery business. So as a result, much of what we do every day is learned through trial and error. I was confident I was not the first person to wonder what my cost per call should be or what were the pros and cons of buying a new truck verses a slightly used one. And I couldn’t find many that were willing to talk about either. Everyone I spoke to was either tight-lipped to be protective of their information, or maybe didn’t know themselves.
The Black Book grew from the fact that we as an industry rarely share experiences of success and challenge with our fellow operators. And quite honestly few outsiders understand just what it takes to run a towing company. So this leaves most with the process of trial and error to discover the best practices which is rarely the quickest or the cheapest way to learn.
Through the Black Book , accompanying DVDs and numerous sample forms and exercises the book walks you through each process to help you achieve success. And once you’re finished you will see the results for years to come.
Tow Company Online Local Advertising Plans
TowProgram began offering tow company advertising plans providing local online advertising solutions to the towing community as a result of hearing feedback during tow show seminars. It became clear company owers had few choices when searching for someone offering cost-effective online soltions specifically built for towing.
Having experienced the frustration of making the transition from the Yellow Pages Ads to an online plan myself I knew I could help other towing companies make the switch as well. Our goal is to provide quality, affordable and simple online solutions so you can stay focused on managing your business. Learn more about our plans on Tow Company Web Advertising. Our goal is to provide a one stop solution for your online ad challenge.
Get A FREE Analysis of the Tow Company Advertising in your Area. We'll do a market analysis of your area and provide a free a 15 minute analysis covering your online status and that of your comptition.
|
