Do you have what it takes? There’s so many factors to consider when investing in a carwash business. Take the quiz and get on the road to discovering whether a carwash investment is right for you. Don’t worry, we’re not keeping score!
1. As an investor you:
A. Expect to have little personal involvement.
B. Plan to be a hands-on operator, ready to spend long hours cultivating your business.
C. Will hire the people you need to get the job done.
The answer is B. Once your business is up and running, you can delegate tasks to your growing team to help capitalize on your strengths and weaknesses, but be prepared to get your hands dirty during the start-up phase.
2. A successful carwash requires:
A. An investment in a solid system and a good relationship with the carwash supplier.
B. Good marketing and management skills, and an understanding of business principles.
C. All of the above.
The answer is C. Good equipment is important, as a strong, durable system ensures maximum efficiency and minimum downtime. But it’s more than ‘if you build it, they will come.’ Strong business sense, marketing skills and a good understanding of management will place you on the road to success. Worried you don’t have what it takes? Don’t be! You’ll learn a lot of lessons along the way.
3. Once the carwash is up and running you:
A. Will be dealing with a variety of people, from suppliers to employees, accountants, customers and support personnel.
B. Can sit back and watch the money roll in.
C. Don’t have to do anything for at least five years. After all, you’ve invested in good equipment. The investment speaks for itself.
The answer is A. Good equipment is a great investment that will ensure longevity, but once the carwash is up and running, the work has just begun. Many people will be involved in some aspect of your business, and now’s the time to cement and build relationships.
4. The potential return on a carwash investment is:
A. Horrible. Why invest in such expensive equipment for little to no return?
B. Ok. It’s not a money maker, but it’s a nice way to earn a modest living.
C. Promising. Depending on the type of carwash you choose, it can add great value, especially if you’re pairing it with another service like a gas bar.
The answer is C. The average annual carwash revenue for a single in bay automatic is $139,000, and with options to add and expand, the potential is limitless.
These are just a few points to get you started. For a more comprehensive look at whether you’ve got what it takes, connect with our professionals or take our new investor workshop.