One way to set goals with profits and revenue on your car wash is to compare it with your own records rather than trying to compare your car wash against other local washes or the industry as a whole. Why is this a good option?
Location matters – Location is one of the biggest factors in car wash success. Your wash may earn less or more than the national average based on where you are located. So there is no accurate way to compare your earnings to other car wash owners who are in another area.
Wash type matters – You can’t compare the revenue of an express exterior car wash with an automatic bay. You can’t compare the revenue of a manual bay with a full-service hand washing business. So even if two car washes are in the same town but are different wash types, it’s like comparing apples and oranges.
You will earn more in different seasons – It is tough even to compare your own business to itself from quarter to quarter. The best decision is to compare revenue and profits for the same quarter from year to year.
Business growth is the best indicator – When you are trying to expand your profits, the best indicator of success is comparing your business to itself. If you follow the suggestion to compare growth from the previous year’s quarter, you will get the best metrics to track your business decisions.
The Car Wash Industry Is Becoming More Competitive
As more car wash businesses are built, the industry is becoming more competitive. If your goal is to expand to become a chain rather than simply owning one wash, then you will need to do market research is multiple areas. You can’t expect every one of your washes to perform exactly the same.
Car Wash Pro Designers wants to help set you up for success with our turn-key express exterior car wash projects.
Besides of years of industry expertise, we also offer services that take you from the initial planning stages of your project well past the grand opening. We offer training for your employees and management staff on a comparable wash to the one we are designing and building for you. Thus, your team is experienced from day one. We also find that offering this service has helped some of our clients to acquire the necessary capital from a bank, even without previous car wash ownership experience. Get in touch today to learn more.
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