I came across an opportunity to develop a new franchise car wash. I’ve never done anything like this before. What are the things to consider when looking at an opportunity like this?
I love looking at investment opportunities like this, as there are certain advantages. There are also certain disadvantages as well.
Do you know anything about car washes, other than that’s where you go to get your car washed? Car washes are a niche product that requires certain neighborhood demographics to be successful. Also, car washes tend to trend along with the economy. A recession tends to get people washing their own cars.
Having said that, if the locale makes sense, and the franchise is a good one, might be worth taking a closer look.
Who is the franchise?
The company is Cactus Car Wash cactuscarwash.com.
Any suggestions on where I can get more information on this company, as well as on running a car wash?
You can gather a lot of information on franchises like this online, so definitely do your homework there.
Another recommendation I would make is to find yourself a business broker who is familiar with franchises, and make them your new best friend. They can not only help you select the right franchise, but also help with location. You want to build it where it will become a profitable operation, and having someone who understands car wash operations can be highly valuable.
Any tips on finding a good business broker?
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