Brandon Langiewicz, SIOR, Partner with Hoff & Leigh Denver, shares his car wash industry expertise:
The car wash industry in Colorado is booming and highly competitive. With the state’s diverse climate, car owners take extra measures to keep their vehicles clean and in top condition. Colorado is known for its natural beauty and four distinct seasons. The winter months bring snow and salty roads, and people drive to enjoy the outdoors in the summer. Colorado is home to a thriving economy and many residents have the disposable income to maintain a clean vehicle.
What to look for:
As a low-overhead business, investors can usually expect a solid return on their investment and the ability to be profitable year-round. The top metrics to analyze before purchasing include:
1. Total number of cars washed: This metric is crucial for understanding the demand for the car wash service. A higher number indicates strong demand and suggests that the car wash is popular among customers.
2. Average cost per car wash: Identifies whether the wash is charging a fair price for its services.
3. Average time per car wash: Reflects the speed and effectiveness of the car wash process.
4. Average customer satisfaction rating: Customer satisfaction is key to retaining existing customers and attracting new ones.
5. Number of repeat customers: The number of repeat customers is often more cost-effective than acquiring new ones, making this metric important for long-term business success.
Interested in learning more about purchasing a car wash? Choose Hoff & Leigh Denver as your trusted brokerage. Our dedicated team goes above and beyond to find the right buyers and sellers, ensuring successful transactions and maximizing returns for our clients. Unlike other agents, we focus on closing deals rather than just collecting listings. Contact Brandon Langiewicz of Hoff & Leigh Denver today and experience the difference firsthand, or browse other Denver listings.