Title says all - interested in learning about any side business you might have, your goal with those (ie: constant cash flow on the side vs. Full time job one day), how much time do you dedicate to it, in which sector etc.
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I own a car wash.
(not the fully automated streets with all the bells and whistles that cost millions, but the self-service wash boxes)
How much time does it take to your week? Is it a decent cash flow stream? Why did you go with it?
Thanks!
After installing contactless payment systems, it takes almost no time. Just a bit of accounting and technical oversight, some soap re-filling and some thoughts on security cameras (which I don't have yet, contactless means no cash in the containers left and therefore no theft).
Managing the paperwork is by far the most time I need to spend, so finding, hiring, managing the accountant for it.
I went for it because it had the least amount of time involved on my end and I like car-related businesses. The other things I looked at were laundromats, convenience store, and gas station. I rejected franchise solutions early on.
Cash flow for car washes is a bit cyclical where this one is based, less business when it rains, snows, or when it is cold. Otherwise acceptable business model.
Thanks - very insightful. Was it a big cash out initially? Did you get a loan or full equity ?
wash boxes go for about 15K $US per slot, normally there are 4-6 in smaller towns, larger plots might have 6 for compact and then 2 for SUVs or lightweight commercials (some super-duties will still not fit!). This is obviously more expensive in larger cities and in good locations. It is important that the relevant traffic flow can right-turn into your wash and that the signage is visible from both sides. Ideally, this would be an intersection. Some councils will sell you the last traffic count pattern for a fee.
the land is often leased due to the prime location, some might be sold with the boxes. You may want to shop around.
overall, a busy location can make 50-75K per year.
the expensive items are: signage, good security cameras, contactless payment in a rough environment and if something breaks the repair costs.
Appreciated
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