If you are wanting to start a small business and are looking to purchase a car wash there are some important things to know before you sign on the dotted line. Here are a few tips to keep in mind as you find the facility of your car wash dreams.
Take a drive around town and start searching for possible locations. If you want to purchase an already established business that is for sale, the location should be easily accessible and have a large amount of traffic passing through. You may need to contact the city government to obtain car counts, site work, and population demographics. These all come into play in car wash success.
If you do find the perfect location for your car wash, make sure you know your competition for the area. It will be harder to have success next to an already established and much bigger business of the same industry. If possible, check public records for their revenue and profits. Take a tour around the competition’s car wash to see what seems to be working for them. You may be able to incorporate some of their ideas into your business.
Even if there are no car washes located near your potential location, take a look at the surrounding businesses to see who you will be potentially serving and the population that they serve.
If you do buy an established car wash, you will still have to incur some overhead costs. Car wash technologies change year to year and you need to keep up with the competition. Research what type of car wash POS systemyou would use as well as any related software. They must be versatile, cost effective and user friendly. You will also need to estimate how much your water cost will be monthly and your monthly electric cost will be. These can be huge and need to be taken into account before purchasing.
Always make sure you have your business plan in the forefront and follow it precisely. Your business plan is your guideline on what you want to take away from the business and how you will get to your goal.
In addition, make sure your finances are in order. If you plan on taking out a loan, make sure you secure it before looking for a car wash. You want to make sure you have the finances to back up your offer before you take that final leap.