Car Wash Investing: Stay current on Car Wash trends!

Car Wash Investing 2018: New & Existing Investors must stay current on Car Wash trends!

Important car wash trends presented by Paul Fazio, CEO of  Sonny’s CarWash Factory, in his “State of the Car Wash Industry” annual message to the International Car Wash Show in Las Vegas. SBA-Capital has divided Paul’s annual message into three categories to help CarWash Investors stay informed.

What types of conveyor car washes are being built in the industry now?

Express Wash continues to increase its dominance with 93% market share in 2017.

What do car wash customers want?

  • Value, Speed Convenience, Quality & Consistency
  • Don’t like being sold – rather choose
  • Don’t like dealing with people – rather deal with a machine but want access to a person when necessary
  • Don’t like giving up their vehicle ( preparing for wash )
  • Don’t like having attendants in their vehicle ( self – vacuuming )
  • Very price sensitive

 

What is driving the growth in the washing market on the consumer side? 

  • Automated car washing offers the speed and convenience increasingly demanded by US consumers
  • US consumers consider products and services that save time to be important
  • The proportion of US consumers washing their car at home is in the decline
  • Increases in car wash use – over 21.6% more consumers used a professional car wash in 2016 than in 1996

The car wash industry has grown from a water hose and a bucket of water on our front drive to a sophisticated and computerized industry. Consumers have benefitted in the process and enjoy an excellent service at a very affordable price.

SBA-Capital continues to introduce new Car Wash Financing programs to provide Borrowers with a Short and Long-term financing program. Borrowers can request a personalized financing program by emailing Hershel Pierce at pierce.pavbank@gmail.com or calling 214-726-9000.