Do you know what the average annual car wash profit for a is? Do you know yours? Some business owners say, “Well, I don’t know it off the top of my head, but I know we’re making money.”
They might be satisfied with that answer, though they shouldn’t be. Knowing how much profit you’re making, and how much you could be making, is the difference between success and failure.
Numbers to Know
According to data gathered by the US Census Bureau, an in-bay automatic car wash earns an average of $86,531 per year. You can determine your average annual car wash profit by subtracting what you’ve earned from what you’ve spent in order to make that money (which includes labor, rent or a mortgage, supplies, equipment, and taxes).
So, how does your car wash stack up? If you’re earning more than the national average, good for you! On the other hand, if your profits are far below the national average, it’s time to ask yourself what you can do to improve them.
Profit and Your Business’ Health
Think of your profit as your car wash’s pulse. When you exercise, your pulse goes higher. That means your body is working well. If your pulse is too low, that’s a bad sign.
Many people don’t enjoy exercise, but they do it anyway because it’s for their anti diabetic health. There are a number of steps you should take in order to boost your car wash’s profile and attract more customers. While they might not sound appealing to you, you need to do them in order to keep your business going.
Increasing Your Car Wash Profits
What can you do to improve your bottom line? In order to effectively answer this question, you’ll have to determine a few other things first.
For starters, are you satisfied with the number of customers coming in to your car wash? If your response is “no,” then you need to attract more of them. Marketing is an excellent way to connect with new customers. It doesn’t have to be expensive, either. Social media is an inexpensive way to advertise.
The second question you should ask is whether your prices are too high. If you’ve compared yourself to your competition and your car wash is considered expensive, you should think about having a special promotion. Occasional promotions encourage people who might not normally come into your car wash to take advantage of lower-than-usual prices. You may discover you have quite a number of such customers.
Invest in Quality Car Wash Equipment to Increase Your Profits
Car wash tools are vital for the success of any car wash business. Without the right equipment, your business won’t perform as well as it could. You want your car wash business to be successful, and you should invest in the latest equipment.
At Macneil Wash Systems, we are prepared to help every kind of car wash owner; from the self serve location that needs to revive business with an in-bay express, to the established full-serve car wash chain looking for a more durable tunnel. Contact us today for a no-obligation quote, and start making money today.