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The successful candidate will be hired as the Operational Leader for a new business and will start as the first employee. Moving forward, that individual will aim to make the business self-sufficient within the first 6-12 months, and the objective will be to bring the business to maturity within a 3 to 5-year timeline.
East Coast Towing is a large towing company in Raleigh, North Carolina. The business offers traditional towing services in addition to heavy-duty towing, accident towing, mobile diesel repair services, and more.
As the inevitable result of operating a towing business, East Coast Towing regularly accumulates a number of vehicles on its property that are never claimed by their owners or other parties. Those vehicles need to be managed and eventually dispositioned through a variety of methods, including private sales, metal recycling, or transfers to a scrap yard.
It is the process of managing those vehicles that is the foundation for this new business. The Operational Leader who is hired for this role will lead a Vehicle Lien & Disposition business that is a spin-off from East Coast Towing. This process is currently managed in-house at East Coast Towing, but that work will become the responsibility of the new business, along with serving other towing companies who face the same problem.
East Coast Towing currently does roughly $5.5M in annual revenue, with growth expected in the current year and moving forward. There are approximately 40 employees in the business, and 30 vehicles. Vehicle lien management and disposition is currently part of those operations, but this new position will be involved in spinning off that part of the operation into a new venture.
The Operational Leader of this new business will be the first employee and will be responsible for operating and growing the company from day one. While no other employees will be on board at the start, there is the potential for resources to be made available for contractors to help with the business, depending on the model that is developed and the needs that arise.
An entrepreneurial mindset and an interest in launching and running a new business is essential. This role will require getting to know the industry quickly, becoming familiar with the process of automotive liens and disposition channels, and speaking with potential customers who may have a need for this service.
While the Operational Leader will be the only employee, there will be support available from the team at East Coast Towing. The position will report directly to the GM of East Coast Towing and will also receive guidance and direction from ownership.
A competitive compensation package will be offered to the right individual for this Operational Leader position. A base salary in the $60k range will be offered, along with the potential for cash bonuses based on performance. Also, an equity stake in this new business will be provided. The details of that stake will be negotiated, but roughly 30% equity that vests after four years can be expected.
The Operational Leader position is going to be based in Raleigh, North Carolina. A successful applicant will need to live in the Raleigh area or be willing to relocate for the position.
There are no specific requirements to apply for the position, however a general interest in, and knowledge of, automobiles is desirable. This business will be serving a unique niche market, and as such, it is not expected that the successful candidate will have experience doing precisely this type of work.
