By Cristina Lazo
Source: SBS
Canberra- based aircraft engineer Paulo Paniel acquired a thirty- year-old towbar business in 2018, which challenged him to implement systems - such as photo documentation and job checklists- designed to mitigate risks and protect the company against false cosmetic damages claims on customer vehicles.
- According to the Australian Automotive Aftermarket Association (AAAA), the country’s 4WD and towing accessory market is a massive $6 billion industry that supports over 2,000 businesses and employs more than 70,000 Aussies nationwide.
- Paniel says capital outlay amounted to upwards of $200,000 when he acquired 'Towbar Discounts,' which included legal fees, exclusive suppliers and an established client base.
- According to Paniel, challenges of investing in the towbar business include false vehicle damage claims, and the technical knowledge required to service electric vehicles, which his company frequently handles.
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