% of Income Loss?

[Bubbles Galore]

I am in need of some numbers. I am looking at buying another wash, it's a 5/1 with some storage units, an office, and an 1100 sq. ft. apartment on site. It is a bank owned property and just like alot of the newbs around here, they think that a car wash will just make you millions. What I need from you guys is your location (city, state) and the percentage that your income has dropped. I need to be able to show a trend in how income has been in a decline in the past 24 months. It would be great if I could get last years drop and this years drop. Hopefully some of you will be able to say you broke even, but I know there are some operators out there that can help me out with the numbers I need.

Thanks!

 

[Jim L.]

Here in Navarre, Fl. (20 mi. east of Pensacola) we were down 3% in 2007 and YTD are off 7% in 2008. These numbers are gross revenue. Expenses are up again this year so the bottom line is even more adversly afffected

 

[Sequoia]

I rehabbed a 3-bay SS in '05 and '06. Income grew 20% in '06 and another 15% in '07.

YTD, this year I am tracking exactly identical with last year while everyone else near me is down-- ranging from a little to a LOT.

In a normal market, I think I would have seen another 15% bump this year; however, it never materialized. So my reduction simply showed up in a different form-- a bump that should have, but never materialized.

 

[Excel]

started a topic on this in the General Discussion area... was doing better than 2007 at beginning of year but Oct & Nov down 40% from 2007

 

[MEP001]

We're seeing our first downward trend this quarter since opening five years ago, but I can't contribute it to any one thing. The weather could just as easily be responsible as the economy.

 

[Waxman]

Carwash down slightly over ytd 08 vs. 07. Detail is up. 08 will be one of my best detail years since opening the detail shop in 1996. I attribute carwash downturn to weather; we had a crummy winter last year, and since my fiscal year starts 1/1, that poor winter washing season hurt the 08 carwash numbers.

I understand people say the economy hurts them, but I do not buy it in carwashing. It is the weather for me. My proof is detail shop income. If economy were the main problem, detailing would not be up. Carwash is $2-10 a throw. In a down economy, logically people would use carwash services more than detail to save $$$. Detail is $39-199+ price point.

Net is up due to cost cutting measures, water savings, shopping around for many line items on expense side of p&l (insurance, tax prep, chemicals etc). It adds up. When running a small operation like mine, saving $500 here and $1000 there in a year makes a significant difference in net income.

 

[Bubbles Galore]

Thanks for all the great info. Keep it coming!