This loser doesn't own a towing business, but I think there is something that others have not mentioned. If people don't have the cash or credit card limit to pay you on the spot, you are going to want to hang onto some collateral, which is the vehicle. For wrecks, most people are going to rely on their insurance company to pay it, which is not going to be a COD thing. So, in most instances you are going to need a secure facility or, as kingston mentioned, a deal with local body shops who will backstop your payments. I don't know how it works with insurance tows (you probably need to have separate contracts with them), but, if you have a lot or access to a lot, you may get two tows out of the deal rather than one. (Edit to add: You also need to be familiar with your applicable towing lien law.)
I don't see a viable business plan if you are COD only. A contract with a governmental body is another thing. If they pay you directly, great. If you are just on an approved tow list, there will be rules to follow with charge limits, and you may not be able be COD only. Also, I guess you know already that they have rules on the maximum time for arrival once they call you, and cops with traffic backed up for miles or sweating or freezing their butts off will get you removed from the tow list if you start getting tardy.
Repos can be really risky business. I wouldn't fool with that. The UCC prohibits self-help repossession if there is a breach of the peace, but the people with the lien on the vehicle just want their car back and may not want to stick with a company that doesn't deliver. A lot of altercations start as the car is being hooked and the owner sees it.
FYI, as an idea, back when I was in New Orleans, the private tow trucks prowled the weeds and found all the stolen cars so they could be on scene and get the tow when the police officially "recovered" the car and notified the owner.
I hope I haven't bored you.
Last edited by Cheyenne; 02/13/21. Reason: add sentence to first paragraph
