Do you really need to write a business plan for a car wash? Of course you do. But where should you spend the most time?
Broadly speaking, most business plans (in any business) should contain:
Company Analysis: Your products services and offerings
Industry Analysis: The state of your current market and its future
Competitive Analysis: Your competitors
Customer Analysis: Who your customers can/ will be
Marketing Plan: How you will spread the word and reach new people
Management Team: Your roster of talent and specific roles
Operations Plan: Mapping your milestones and goals
Financial Plan: How cash flow will work and expenses will be paid
It’s up for debate as to which is the most important, but you’re definitely going to want to spend a lot of time on your competitive analysis.
A competitive analysis for your car wash
This gives you a detailed look at how other car washes are doing in your area? Are they thriving? Why? Are they on the verge of closing? Why? What does this likely mean for you?
According to Entrepreneur.com, the competitive analysis will, “determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.”
So do your homework—thoroughly. You may even want to hire a research firm or freelancer to look into this for you.
A simple bit of research can tell you if there are no car washes in your area because it’s an untapped market, or the area can’t sustain the business.
Your car wash’s executive summary
This is an often overlooked, and sometimes skipped, step when creating your car wash business plan. But it’s extremely important.
The Wall Street Journal has said that the executive summary of your business plan answers the question, “Why is your business uniquely qualified to succeed?”
“There are many reasons why your business might be uniquely qualified to succeed. For example, it could be the quality of your management team. Or unique technology and/or partnerships you’ve created.”
Don’t Forget Your Equipment
Another crucial part of your car wash business plan is your equipment. You need to know how you’re going to pay for your equipment. Your car wash’s equipment is what will keep your clients coming back and telling friends. This is where Macneil Wash Systems can help.