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Re: Advice for Downsizing or a Temporary Closure ? ? ?


rreschran
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This is a realistic topic that, based on current events, should be considered and allow me to share some thoughts with you.

 

I spoke today at-length to several company owners being asked what steps I’d recommend to companies who are experiencing severe loss in activity and income. I really feel your pain as it’s industrywide regardless as to the size and strength of tow companies across the US. It’s important tow owners stay ahead of current events to make decisions in their company’s best interests. Some of these discussions are found at the towing and recovery industry’s forum TowForce.net. I invite you to get signed on (no cost) to see how other tow owners are handling current events … you’re not the only company facing tough times.

 

Putting your business into a, “Sleep Mode”, is a scary process, but under the current continuing threat of virus exposure, I believe the following steps should be evaluated with every hope to lengthen the time tow businesses are slowed. Be honest with yourselves to determine whether-or-not you should downside or initiate a temporary closure? Accordingly, I’ve prepared a short-list of those thoughts I’m recommending that tow owners should consider.

 

Now that this social distancing thing is in full-swing, and, if you haven’t taken the following actions to coast your company while hanging-on, I recommend that you’ll consider what actions would be in your best interests of riding out this future slow down? In no particular order, may I suggest:

 

  1. RIF drivers, dispatchers and support personnel down to gain a skeleton crew, but keep them apprised as to current business situation

 

Note:  If you’re a tow operator or work for a tow company, please don’t take being laid-off or let-go personal. I’m confident that the decision to let-you-go was based on your company’s survival mode.

 

  1. Park non-essential trucks
  2. Drop insurance on non-essential trucks
  3. Use down-time wisely to make repairs on fleet and equipment
  4. Limit unnecessary driving to save fuel
  5. Other than law enforcement requirements, close office hours to bare-bones
  6. Pick, choose and accept incoming calls compared to risk they represent
  7. Minimize use of lights and electrical appliances
  8. Keep a mindful and watchful eye on spending (dollars out)
  9. For rural companies and where possible, work from home, yet, stop by your facility to see that security is in-place
  10. Be aware; looters, burglars and other unscrupulous persons are and will try and take advantage of you. Don’t be a victim
  11. Have patience and offer your assistance to your neighbors who are more vulnerable that you

 

And, in all sincerity, please don’t risk your personal health, or that of anyone else’s, by thinking that this slow-down will be OK and done in a few days. Be smart about what’s ahead and pay attention to both industry news and what’s going on around in your community. If you’re still running business full  speed ahead, use every precaution necessary to remain virus free and that means advising your customers to arrange their own transportation.

These recommendations may be necessary should the virus continue its path, but decisions that might help extend the time going forward. Only you know what your company’s bottom-line is and what's best for your company. And, if you have other suggestions, please offer them here. Thanks.

 

I’m personally holding onto faith, prayers and optimism that this virus thingy will find its (slow-down) curve where these closures can return to some normalcy. Until then, I wish you all safety and continued good health. Best Regards.     R.

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Randall C. Resch

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We're fortunate I guess that we lost 2 drivers right before this hit. We were a skeleton crew in the hiring process right as this hit, so our payroll is already down to a somewhat manageable level. Our call volume is certainly down, but this is historically a slow time of year for us anyway.

 

I for one don't see this going on into the summer. I don't think people are going to willingly stay inside for too much longer without going nuts. I've already seen an increase in traffic on the roads this week from the ghost town we were last week. 

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