Car washes earn more than $24 billion every year, according to the International Carwash Association. That’s a massive number with plenty of opportunity for new investors, they said in announcing a new seminar at The Car Wash Show, the industry convention scheduled for March 31 to April 2 in Chicago.
It’s just one of several educational seminars planned for the show this year, but organizers are touting it as one of the most enticing. For the industry, it’s an obvious strategy: Teach new car wash investors how to build their businesses from the very beginning. This year marks 100 years since the industry began in a small production line in Detroit, which means there’s a lot of institutional knowledge. No new investor should have to play this business by ear.
“The New Investor Seminar is an efficient way for entrepreneurs to learn the essentials of entering the car wash business,” said Eric Wulf, CEO of the International Carwash Association, in a statement. “It’s a chance for new investors to establish a solid foundation in the business.”
According to the association, the number of people who are washing their cars at home is declining, and the number of drivers who turn to professionals is increasing. That’s probably because they’re learning that car wash businesses can do things more efficiently — both in terms of water and capital — and save consumers time. The Car Wash Show describes the seminar:
Providing strategic insights into the management and operations of a car wash, the New Investor Seminar gives attendees advice on how to develop a business plan, select a site, finance their operation, and make effective supply and equipment choices.
To learn more about The Car Wash Show, click here. Speaking of investments, let us know if you’re planning to invest in attending the show. We’re just curious whether car wash businesses find these trade shows helpful. If we hear back from enough of you, we’ll write a post about what you have to say.