| |
| |
|
patsbusiness2.com
|
|
|
|
Truck Wash Business Case Study
Often smart entrepreneurs look for out of the way businesses, things out of the mainstream but businesses, which have a good customer base and steady incomes. This is an extremely interesting story. I had always considered the mobile truck washing efforts to be very profitable and believed that fixed truck washes were a big waste of money. That was until one year when a new franchisee joined our team from Oklahoma City. I run a franchise company called the Car Wash Guys; www.carwashguys.com. Turns out the franchisee was formerly employed by Blue Beacon Truck Washes the largest chain of truck washes in the US. They do about $138,000,000 per year with 80 truck washes and the company is very closely held. Tim our franchisee was a truck manager for them and before buying into our franchise and started washing cars in OKC even though he knows truck washing best. He had a two-year non-compete with his old company, which we have honored in OKC. He has tons of experience and had indicated to me that the business is sound and we should really get into it. Later that year I sold a franchise to a person in WA State who owned car washes (5) and he made a deal with a truck stop on an Indian Reservation, he never started the plan, but the numbers we ran on the spreadsheet looked great and very profitable. Even as a serial entrepreneur, I had never considered the fixed site truck wash business, as the mobile truck wash business seemed so much more efficient and so little over head; www.truckwashguy.com . So even with all this knowledge on the team we still did not enter that market. One of our competitors in the car washing industry bought up two truck washing chains for a total of fourteen truck washes and proclaimed it more profitable than his other car washes by 5 times as much money. They now own nearly 100 locations of truck and car washes nationwide. After looking into it some more a franchise buyer who owned Fuel MAN, an East coast Fuel Card for fleet owners approached us in South Carolina to use the Truck Wash Guys name and develop a truck wash mid state. At that point we decided to start working on the details. Then a franchisee in OH made a deal with a truck stop between Columbus OH and Pittsburgh, to operate a 24 hour truck wash and de-ice business. He thought how easy this is and now so we have made deal in WV at a truck wash as well. Our Ohio Franchisee at the time took on another partner in WV. Still reluctant to fully dive into the subcategory of full service truck washes we found our Ohio Franchisee going full guns to put together a deal with Pilot Truck Stops. Pilot Truck Stop has the most Truck Stops on the Planet and sells 8% of all the diesel fuel in the United States. So we planned a pilot program at pilot. Our temporary set up is a trailer unit, which sits at the truck stops and washes made sense. We then worked on plans for a building to submit them to the Building dept. for approval, meanwhile the deals in OH and WV and SC were suddenly in the works. We figured if our deal with the truck stops worked well, the Truck Stops will get more traffic and fuel sales while we generate revenue and a percentage of the total take for the truck stop for the privilege of working there. We are so use to washing trucks and have on our team a gentleman who sells simonize truck wash and has been in the car washing and pressure washing equipment business for 20 years. By using the fuel man fuel cards as currency on the east coast and name recognition of Pilot we figured we could move into this industry and pick up the slack. There is a shortage of truck washes across the country and also a shortage of oil change facilities for trucks. A franchisee could be trained by our truck wash prototypes and probably on the top performing franchisee in our mobile truck wash division; then quickly set up in their own markets. Pressure Washing companies which specialize in fleet truck washing should in fact consider this type of strategy for moving into the fixed site truck washing business. If you study entrepreneurial companies you will in fact see that many companies fall into markets due to opportunities which present themselves, it is amazing the opportunities which exist out there and how fast companies can grow when they can handle the demand of those markets. Think on this. "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
MORE RESOURCES:
Small-Business - Google News |
|
|
|
RELATED ARTICLES
Starting an Aircraft Washing Service To wash an airplane there are many items you will need to keep in mind. The first is safety while working on the tarmac of an airfield. Why You Need A Virtual Assistant How much is your time really worth? Is it worth 50 an hour or 100 an hour? YOUR time is most valuable because it is your responsibility to generate new revenue for your business. Doing small and often trivial admin chores yourself does not really add value to your business and the sensible solution is to delegate those less profitable tasks by hiring someone more than capable of carrying them out, but who's hourly rate is somewhat less than your real financial worth. Small Business Support Equals Survival Support is critical for your small business survival. You may shy away from the thought of having an advisory board to guide you through your rough spots, but having a group of professionals who are willing to be your sounding board can mean the difference between success and failure. Pet Grooming Business Do you like animals? Would you like to work for yourself? Pet grooming could be the career for you.A grooming business is more than just washing dogs. Leveraging Business Relationships for more Profits When should you leverage the relationship?Leveraging sometimes brings a negative connotation to the mix. It does not have to be that way. Janitorial Cleaning Service: Getting Started A janitorial cleaning service is one of the best businesses for a hardworking, blue collar person to start from scratch. Every business and every building needs to be cleaned once in a while - in some cases, many times each day. The 5 Habits of Highly Successful Small-Business Owners Have you ever wondered what the difference is between a business that consistently grows and another that struggles just to make ends meet? Or why a business that was started in a basement of a home can outperform some of the best-run "big" companies in sales and profits?Two businesses, operating in the same marketing arena and selling the same products or services, can have extraordinarily different results. How can one business continually grow and prosper, while the other struggles? How can one business owner run a highly successful business while still spending a good portion of his or her time away from the business on trips and vacations with the family, and another owner work day and night only to see his business fail?Such questions have always intrigued me. 5 Tips for Hiring a GREAT Bookkeeper Bookkeeping?the "dreaded" word is something we all have to worry about. Business owners rarely go into business to deal with the financial aspects of running a business. What Happened to the Money and Freedom? Ask anyone trapped in a cubical about their entrepreneurial dream and they will tell you, "I want to own my own business. I'll make more and have more time. De-Ionization Decisions in Mobile Car Washing Many mobile car wash operators would like to add de-ionized water to their cleaning process. However before you do this you need to understand the reality of the return on investment. Making a Donation to Bring MORE Business How a donation is different from a sponsorship and what is the advantage to you?Donations are different from sponsorships, as a sponsorship is more likely to headline you for an event whereas a donation will let you be listed as one of the many donors. You do not need to headline every event to get business attention; you can simply donate an amount of funds and be listed. Small Business Marketing Secrets: Look Like Sizzle, Be The Steak You've heard marketing and advertising gurus quip, "Sell the sizzle, not the steak." Advertising initiatives best reach their target audience with benefits and the "wow" effect, not the value or features of their product or service. How to Start a Paper Shredding Business Paper Shredding Business Opportunities are blossoming up everywhere because in recent years, privacy concerns and new policies have forced companies all over the country to invest in paper shredding services. Large corporations and small are in need of shredding services. Lack of Vigilance Can Harm the Bottom Line The easiest way to lift profits is to cut the fat out of costs.Cost cutting and profit increases can amount to much the same thing if handled correctly. Is Your Business Making Money? Is your business making money? Would you know?Figuring out whether your business is actually making money is no easy task. Most small business owners have a pretty good idea of what their top line is (their revenues), but unless they're closely tracking and inputting all of their expenses, the bottom line can often come as a complete surprise. Doing Business With Friends: Five Tips for Preserving the Friendship... and Your Sanity! My colleague, Jane, recently lamented to me an all too familiar story about mixing business and friendship. Jane subcontracted copywriting work out her friend, Joan. Predicting Business Retirement Satisfaction for Business Owners Most business owners do not think of selling their companies as "retiring". Instead, these vital entrepreneurs see selling their business as a "transition. Survival Tips For Small Businesses You may be in Mail Order, Direct Mail, or you may be a local merchant with 150 employees; whichever, however or whatever---you've got to know how to keep your business alive during economic recessions. Anytime the cash flow in a business, large or small, starts to tighten up, the money management of that business has to be run as a "tight ship. Conquering Confidence Killers for Small Business Success "The way to develop self-confidence is to do the thing you fear". -- William Jennings BryanWhether you're generally a self-confident person, or someone continually plagued by self- doubt, you'll recognize some of these confidence killers if you:? Are overly dependent on the thoughts or opinions of others;? Avoid meeting new people because you're afraid you won't fit in, be liked, or be accepted;? Focus on unrealistic expectations ("I must do each job perfectly"; "If one person is unhappy then I have failed");? Have an 'all-or-nothing' attitude;? Pay heed to the internal and external naysayer;? Use the word SHOULD most often in relationship to your business;? Assume that if you don't get the client, they didn't like you;? Assume that you must be as talkative, outgoing, friendly, smart, old, young, educated, attractive, as someone else in order to succeed;? Avoid implementing new ideas because they may not work;? Can recount all your shortcomings each day. 1 Overlooked Key to Small Business Success Is this you?You dreamed of owning your own business, doing what you love and enjoying unlimited earning potential. You researched.
|
|
Small Business Information | Traffic Building Information Powered By: Work At Home With Google - FREE! |
| © 2006 |
