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 word is out: the car wash industry is a lucrative investment, and the market is primed to continue to expand in the near future. Whether through acquisition or new builds, car washes are an excellent purchase for those who know the industry or are looking to diversify.
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.
Owning and operating a restaurant can have significant perks, with a side of complexities. Mainly, understanding and forecasting taxes for restaurants, which can cause headaches among other responsibilities. Proactive tax planning is a must and should be completed prior to 12/31 of the calendar year to identify opportunities. Tax rules often change; best practice recommends business owners should understand the rules as stated currently, while being aware of potential future changes.
Brandon Fredericks shares what he learned about trends and the state of the industry at the 2022 Car Wash Show in Nashville.
After putting in the work to build your car wash business, you have reviewed all your uncertainties and decided you are ready to sell – now what?
Right now, if you Google the term ‘metaverse’, over 57 million results are returned. With so much information already out there on this topic, it should be easy to find an understanding of what the metaverse is, what it can do, and how it will affect us, right?
Business owners have likely seen the statistics stating how many small businesses won’t survive past the first two, five, or even 10 years from origination. The fight to overcome these statistics can be an excellent motivator and energizer, but how do leaders ensure their energy is directed at the “right” strategies that will succeed?
Growth doesn’t happen accidentally. A clear, actionable plan for growth is essential to remain strategic and intentional at every step and to ensure your business has every chance of long-term success.
Organizations can achieve growth through a plan that is clearly communicated, that puts purpose ahead of profits, and creates a culture of accountability.