As we get settled into 2024, one area that all business leaders continue to monitor closely is what the merger and acquisition (M&A) market will reveal after about eighteen months of uncertainty and wavering expectations. With inflation leveling, potential federal rate cuts in our future, and a presidential election year upon us, there is a lot to evaluate and consider as businesses look to jump into the M&A waters once again.
The Carwash Industry remains one of the most dynamic and changing business environments in the service sector as we head into 2024. Over the past several years, the industry has grown exponentially due to the customer demand for higher convenience, the rise of the subscription service business model, a variety of ownership models leading to increased growth and economies of scales, and technology advancements to increase overall customer demand.
Apple Growth Partners (AGP) had the pleasure of hosting a panel discussion at this year’s Car Wash Show in Las Vegas, Nevada. Our conversation sparked a lot of great questions and discussions. Our team believes in the power of Healthy Growth® and one of the best ways we continue to demonstrate that is with our ability to team with owners and leadership groups to tackle head-on the opportunities and challenges facing the business today.
As a leader in the car wash industry, you know first-hand how important it is to keep a close eye on your financial records and overall financial health. It’s essential that you have the ability to collect accurate and timely financial information that will allow you to make informed decisions, manage cash flow, and plan for the future.
The rapid growth of the carwash industry has made it a promising investment for those interested in owning a business. The opportunities will continue to grow as the industry expands — the global car wash services market is anticipated to grow when you consider that more than 72% of drivers in the United States regularly use professional car wash services.
