Akins Towing & Recovery LLC | Application Preview
Akins Towing & Recovery LLC is seeking government grants to consolidate their current loans and transition into a larger family-owned business. The funding would be instrumental in alleviating financial pressure and facilitating growth. They aim to upgrade their fleet, specifically requiring a new truck and a hotshot trailer to enhance their towing operations.
Having successfully navigated their first five years, the company originated with one broken truck and has since upgraded to a 2016 repo-style truck. Moving forward, their goal is to establish a fleet of hotshot trucks and trailers while continuing to operate their existing tow trucks.
As a family-owned, woman-owned business, they emphasize their unique position among competitors. The owners started with minimal capital, demonstrating their commitment by maintaining on-time payments for all expenses. They believe that investing in their business will yield a positive return, as they have proven their resilience through challenges like the COVID-19 pandemic.
In a competitive landscape that includes companies like Patriot Towing and Big Boys Towing, Akins Towing distinguishes itself through its personal touch as a husband-and-wife team and their dedication to community relations, notably with Johns Towing & Automotive. They advocate that their structure and perseverance provide a competitive edge.
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General Information
Business Registration Number: 850980071
Location: Villa Ridge, MO, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: $100k to $250k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
We would use the funds to try and consolidate loans we currently have and then move forward with the transition in forming a new family business. The money would be greatly appreciated because it would help us get over a financial hump and being backed into a corner with our bank. We are wanting to expand our options on being business owners, and after five years of our trucks rolling, we are wanting some sort of upgrade for our towing company. The biggest part of any of the funds would go towards a new truck that is required for the field, the bed for the cab chasey truck, as well as the hotshot trailer.
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Business Plan
We have already made it to our first 5 years, and for the next 5 years we would like to expand and grow the easiest, cleanest, and most effective way and that's by doing it from the bottom up. We started our towing company five years ago from one broken down truck and now we have a 2016 repo style truck. We have been building and growing as much as we can, but now it's coming down to money and we are running out of funds, and this isn't an option for our company. Thats why we already have the "new" opportunity to buy a new truck and trailer which is the start to our next business owning adventure. In the next five years we would like to be able to have a fleet of hotshot trucks and trailers as well as our tow trucks still in route. Because, we are a family owned, woman owned, company. We are the little guys on the totem pole in our area of multiple tow companies. My husband and I have built from the bottom up with 500.00 in the bank. My husband jumped into the deep end and quit his full-time heavy equipment hauling job to start the business of his dreams. It has been a ride with making it through covid, making sure the money is in the bank, and time to manage as a family. We have never been late on any truck payments, insurance, etc. Bills are expensive, but they are always, always paid! Investing in us wouldn't be a loss, investing in us would be a gain with all the right equipment!
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Self Identified Competition
Patriot Towing, relationship of any kind with this company is "complicated" and not just for us. Big Boys Towing are a fleet of their own, have multiple locations same as Patriot Towing. Johns Towing & Automotive is considered a friend of our business. They are located not too far down the road from us, and we work in the same area also like the other 2 companies. Our business is a woman owned business, and its only ran by husband-and-wife team.
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Contact Applicant
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