Have you ever considered developing additional streams of income in your business using your existing
equipment and staff? Additional streams of revenue create much needed security and stability in a
business as it faces changing economic conditions, increased costs, decreased profits, and seasonal
fluctuations.
One of the best ways to grow your business is through diversification. Diversifying can be risky but does
not have to be. To avoid becoming another overextended small business story, you simply need a tool
to help evaluate the legitimacy and potential of your diversification options.
Every worthwhile diversification option must pass the â3 Pâsâ test: People, Process, and Product.
- People: Mary Kay Ash is quoted as saying, âPeople are definitely a company’s greatest asset. It
doesn’t make any difference whether the product is cars or cosmetics. A company is only as
good as the people it keeps.â
The ârightâ people make you profitable, the wrong generally donât.
Evaluation Question: When diversifying, does your diversification opportunity possess the right people to execute your potential product with excellence?
- Process: Success on any scale is all about the process. The process starts with the product and then advances the company as it defines and streamlines the hiring of employees, marketing, accounting, expansion, etc.
Evaluation Question: Does your potential diversification opportunity have clearly defined processes to execute the product as advertised with consistency?
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Product: The product must be equally excellent and relevant. Products that outperform their peers have three differentiators: they inspire, they possess the potential to be the leader in the
market, and they create trust with their customers.
Evaluation Question: Does your potential diversification opportunity have a product that excites you and also has the ability to stand out in the market?
With a passionate and determined focus on these â3 Pâsâ, Snappy Box has created a new way for Tow Operators who already have rollback trucks, drivers, and extra space on a secure lot to diversify by adding portable storage to their existing business. Owning and renting portable storage containers allows Tow Operators to tap into a $3 billion industry. The Portable Storage industry was created to provide a more convenient option for customers with self-storage needs. The portable storage container is brought to the customerâs home or business where it is packed. Once packed, it can be stored at the customerâs property or brought back to a portable storage companyâs secure outdoor storage lot.
Snappy Box provides a good source of high quality, light weight containers that are specifically designed
to be moved loaded with rollback trucks. They also bring their 11 years of industry experience to offer a
turn-key management program that runs all aspects of the portable storage business and allows the operator to continue to focus on their towing business.
Letâs take a look at how their focus on the â3 Pâsâ is benefiting Tow Operators that are looking for new
ways to generate revenue.
People:
Combining the Snappy Box staff with a towing operation is a powerful combination. Anybody can say they have the best people in their company. Snappy box has the statistics to prove it. With a 90% customer satisfaction rating and customer acquisition rates double industry standard, it is clear that the Snappy Box staff are passionate, friendly, team oriented people that make service a priority.
Product:
Snappy Box has set itself apart in the industry with a quality product that stands above the competition. Snappy Box containers are extremely durable, typically have a 30-year life cycle, are waterproof, secure, can carry up to 10,000 lbs and withstand winds up to 120 miles an hour. They come in two sizes, 8âx16â and 8âx19â. These containers are uniquely designed for the towing industry and have four wheels that allow the containers to roll on and off your truck without damaging the bed.
On average, a portable storage unit will rent for $175.00 per month and stay rented for an average of 6
months. When towing a portable storage unit, you are paid for the transport and collect recurring revenue from the monthly rental. Multiply this by 50, 100, or 200 containers and towing operators can generate significant profit.
When you diversify with Snappy Box you are able to strategically scale the growth of your business with a manageable initial order quantity because Snappy Box can ship container in groups of 12 at a time. Tow operators can break even with as few as 6 containers rented and this factors in the cost of financing. With snappy box, you not only get the safety of scalability, but you get the added bonus of diversifying your business.
Process:
With positive growth yearly for 11 straight years, Snappy Box knows how to rent containers. With your towing experience, you know how to tow containers. Working together with your experience, Snappy Box rents the containers while you focus on transportation.
Snappy Box is here to help you use your existing resources to safely and slowly
build on what you already do well â towing â whether towing a car or a container. Snappy Box uses tried
and true processes applied to a sales-focused call center, online lead generation, marketing plan, billing/collections system, dispatching, social media campaign, website with quote system, landing page, and operational software that are used to make your operation as successful as itâs own.
If you are looking for a way to diversify your towing business, create additional revenue for your business and utilize your trucks and drivers through the slow times, then Snappy Box Moving and Storage may be a great solution for you. To find out more about their services, check them out at www.snappybox.com/towing or call 888-363-2720.
