Exciting Trends in the Car Wash Industry

I am a member of the International Carwash Association (ICA). While this includes ALL types of Carwashes, there are some great nuggets for those interested in owning carwashes.

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Exciting Trends in the Car Wash Industry: A 2024 Outlook!

The car wash industry kicks off 2024 with remarkable customer satisfaction levels, reaching record highs since 2021. With an optimistic growth outlook, it's an excellent time for investors to consider the potential in this sector.

Key Highlights:

• Overall Customer Satisfaction at 68%, a 13-point leap from last year.
• Membership Churn remains low, with 89% planning to renew, indicating stable, recurring revenue.
• Sustainability: An area ripe for innovation, with only 37% very satisfied. A chance for differentiation! (Clean Carwash recycles ~ 95% of water usage, biodegradable chemicals, variable speed motors and more....)

Investor Insights:

• Expansion: 44% of operators are actively seeking new site development.
• Amenities: 38% of consumers favor fun scents, presenting unique branding opportunities.
• Staff Training: 99% plan to maintain or increase investment here, ensuring quality service.

Marketing Focus:

• Digital and Mobile Apps are key. 50% plan to increase digital ad spend.
• Human Interaction is still valued, with POS sales support and on-site salespersons being significant.

Economic Pulse:

• Strong Consumer Confidence and retail sales up 3.4% YOY.
• Steady vehicle sales point to a consistent customer base.

For accredited investors, this industry presents a robust cash flow opportunity with a combination of high customer satisfaction, a push for sustainability, tax advantages and strategic marketing investments.

Let's dive into the world of car wash investments with CCW!