CAR WASH MODEL BUSINESS PLAN NEW VENTURE….. Why have you chosen this business? What do you need to know? Working through a template will bring you the information you need to decide if the business can be successful – and how to make it successful KNOW THE INDUSTRY What are the strengths and weaknesses of the car wash industry What factors are affecting it at this time Where are the markets How many competitors are there How much will it cost, where will the funds come from, what are the financial dangers What staff will you need WHAT KIND OF CAR WASH Decide on the car wash concept that suits you and the funds available… Stand alone manual and automatic Hand wash – maybe franchise High tech facility with all the latest equipment and services Add-ons like dog wash, detailing THE TARGET MARKETS the location choice the target customers the growth potential THE MARKETING PLAN how do you bring customers to the car wash how do you ensure that they come back again – a regular habit how do you increase the “spend” how do you attract more customers OPERATIONS Having decided on what you want to do, more detail is needed… what equipment will you start with what chemicals will you use what staffing and management structure FINANCIALS The sticky bit, nothing must be left to chance find a similar financial model to yours knowing your site & your target markets, adjust the budget income and expenses list all the capital expenses, however small – signage, planning permits, plants THE CAPITAL RISK how much money will you borrow how much will you invest of your own what will happen if you don’t reach your budgeted income levels, what adjustments can be made what are the exits costs – the worst-case scenario CONFIDENCE it takes time to complete a business plan but it will give you the answers you need you have faced up to what might happen if its not as good as you hoped you have a model to work with it gives you confidence to make decisions it gives lenders confidence to lend to you ANOTHER ACWA BENEFIT a detailed business plan covering all these topics has been developed for ACWA members and for equipment suppliers to give to potential new car wash investors it will be available for sale from ACWA in October