Is 20K enough to get started in the car wash business?

[kbdub32]

Just to put in my $0.02 and I'm sure most will be surprised but i got into my wash for only $15k down. Through my bank, and using a sba loan to buy the property etc. (all while it showd a 14-25k loss per year for the last 3 years.) so yes you absolutely can! You just have to find a run down wash that the owner is sick of and just wants it gone. And when you buy it be ready to get to work. For the first year i dumped every quarter it made back into it.

Do you want to get rid of carwash??

 

[liftheavy]

20k is not enough, my friend. my recommendation is to start working at a car wash and spend couple years to save up more capital and also to learn how to fix everything at that facility. learn to do this on their dime, not yours. learn the business operations and admin aspect as well.

also get your credit score up. i recommend putting at least 2-3 years of work in this endeavor if you are truly serious about this.

right now even if you get the bank to finance you, your running capital is non-existent and your loan payment by itself will eat you alive. last thing you want is ending up with a broken site you can't fix because you dont know how and you dont have enough money to fix.

 

[gee gee]

Anyone still reading this thread and interested in the legal side of a business like a car wash should also consider the risk of getting sued - whether by clients or business partners. From what I’ve learned, it’s not uncommon in the U.S. It’s helpful to read about how commercial litigation defense works so you’re not caught off guard.

 

[Earl Weiss]

Anyone still reading this thread and interested in the legal side of a business like a car wash should also consider the risk of getting sued - whether by clients or business partners. From what I’ve learned, it’s not uncommon in the U.S. It’s helpful to read about how commercial litigation defense works so you’re not caught off guard.

Also why you need to operate as a Corp or LLC and have decent insurance.