What's new

Would you build/invest right now?

APW

Member
Joined
Jun 9, 2013
Messages
521
Reaction score
13
Points
18
Location
Southeast
Would like to get everyone's opinions on what they think about the future, and car washing. I know there are a lot of people that have lost their jobs and probably a lot more that will loose their job. Then there is the Election to worry about. Is the car wash industry unaffected by which party holds office? or will it thrive no matter who wins the election? Until the Covid hit I was ready to pull the trigger on an addition and machine but can't get a good feeling about spending money with so much unknown in the future. What's your opinion?
 

KleanRide

Active member
Joined
Jun 16, 2019
Messages
207
Reaction score
90
Points
28
I haven't been in this industry long enough to know how it responds to parties in office, but bankers are puckered up right now and that will continue for awhile. They hate uncertainty. Even with stimulus moves and low interest rates, if the supply of funds is tight, that will have a broad effect on investment. I was looking at buying another wash for a refurb project but I've backed off.
 
  • Like
Reactions: APW

MC3033

Member
Joined
Dec 3, 2017
Messages
63
Reaction score
20
Points
8
Location
Illinois
The overbuilding of express washes is more threatening then the economy/COVID IMO. The industry is fairly resilient and isn’t the first thing people cut out since the cost is low. That being said I wouldn’t start a new project or get into a new industry till we can see the other end of this.

That being said, if you are a current operator and adding an addition to an existing wash you should go for it. For an existing operator who already has customers and real estate I’m not sure you have as much to worry about
 

Rfreeman

Active member
Joined
Aug 4, 2014
Messages
314
Reaction score
65
Points
28
Location
Ft. Worth
I have been in the business 7 years so I haven't seen much but I just closed on my 3rd location that will be complete rehab project. Started cleaning the walls and the customer base is already appreciative and looking forward to the changes to come. I agree with Klean banks are starting to tighten up even though interest rates are awesome right now. I noticed on this purchase my bank had more questions for me and specifically asked me if my other locations had been hurt from COVID.

I think the bigger question is what impact have you seen thus far on your location from on all this COVID mess? If your revenue has stayed consistent then yeah I would say go for it! My revenue has even seen an uptick I think with everything that is closed or was closed there was nothing to do but wash your car.
 
  • Like
Reactions: APW

Waxman

Super Moderator
Joined
Aug 31, 2007
Messages
4,813
Reaction score
153
Points
63
Location
Hampshire County, MA
I'm gathering equipment and remodeling quotes for my automatic bay. My automatic wash is 15 years old and the time is right. To their credit, Superior car wash systems out of Phoenix, AZ, made a good quality wash. For a new investor like me ( 16 years ago), it was affordable and as reliable as you would expect a very affordable IBA to be.

My competitors both installed new friction machines within the last 5 years and they have pushed the upper price limit to $20!!!! My customer base is strong and growing. My detail shop is now sanitizing every detail package at a $30 add-on fee. Business is strong.

I think asking about the future of car washing is like asking about the future of dirt; there will always be car washing. People aren't going to stop washing themselves, their clothing, the dishes and the car. It's true.
 
Last edited:

soonermajic

Well-known member
Joined
Oct 26, 2014
Messages
1,797
Reaction score
113
Points
63
Location
texas
I have a monster site...but am worried to death, about pulling the trigger
 
  • Like
Reactions: APW

washnshine

Active member
Joined
Feb 21, 2014
Messages
529
Reaction score
86
Points
28
Location
NY
When I got started back in the 80’s, the ICA was putting out pamphlets and information geared towards the consumer saying that automobiles are people’s “second biggest investment” - this was to encourage keeping them clean at commercial car washes.

These days, with the younger generation not leaving the house as early, more renters and less home buyers or people waiting longer to buy a home, the automobile is probably the biggest investment for more people now than before. I am hopeful and optimistic that people do continue to care for their cars. Maybe some people will be holding onto them longer and see the long term value in maintaining the appearance of their cars.
 

mac

Well-known member
Joined
Sep 3, 2007
Messages
2,757
Reaction score
198
Points
63
There are always good deals out there. The trick is knowing one when you find it. I think there will still be more existing places close. While express has hurt some (I have one less than a mile from me) not all have suffered. There is still a market to clean things that a conveyor can't, i.e. tall vans, box trucks, motorcycles, patio furniture, and boats.
 

soonermajic

Well-known member
Joined
Oct 26, 2014
Messages
1,797
Reaction score
113
Points
63
Location
texas
There are always good deals out there. The trick is knowing one when you find it. I think there will still be more existing places close. While express has hurt some (I have one less than a mile from me) not all have suffered. There is still a market to clean things that a conveyor can't, i.e. tall vans, box trucks, motorcycles, patio furniture, and boats.
Mac...u forgot DUALLYS!
 

mac

Well-known member
Joined
Sep 3, 2007
Messages
2,757
Reaction score
198
Points
63
Yes, thank you. My auto has no Tire brushes, only recessed tire blasters so it does duallys and also raised trucks with wide tires. Conveyors can’t do that. Also found out from my customers the express near me is scratching a lot of cars. Don’t think I’ll help them.
 
Top