A few months ago, I was helping someone who was going to start a mobile vehicle launder business in Hawaii. He was going to work in one of the larger cities, and it wasn't a huge city, not like Los Angeles or anything like that, but it was one of the larger towns on Oahu. Have a look at the following article discussing the topic how best to set goals for the number of Express Car Wash Near Me per day.
Although he wasn't from the USA, the methods of operation, types of vehicles to be cleaned, and the amount of time to launder the vehicles based on size (his country has smaller vehicles than these considerable SUVs in the US). So, we started kibitzing on various assumption to put forth a decent proforma.
The sources for your down payment have not changed that much. The first place that people look for down payment for buying or building a vehicle launder is personal savings accounts and liquid investments. This is a logical place to start. Frequently people would use their line of credit from a home equity loan, but while this is still an option, you even will have to show the majority of money coming from non-borrowed assets.
If you merely launder high volume low-cost all day you'll need a 250 gallon water tank, but if you mix it up and they are vehicles (you will get better with practice) then you will do 45-60 launders per day, 1-2 details, 2-3 mini-details (express wax), with about 10-15 interior cleanings - with a crew of two, kicking butt. Now then, I am not sure what the costs of purchasing a trailer in your immediate area, as there are differences everywhere in the prices of such equipment, but you need one which can hold about 1200 lbs.
Next, you have to decide what kind of mobile vehiclelaunder company you were going to be and what kind of services you will specialize in. If you're going to go to large corporations to launder vehicles in the parking lot that you need to know the number of large companies that are in your area, assess the competition, and divide up your market share.
While it is true that certain types of financing instruments offer higher Loan To Value (LTV) financing, they still will look to see if there is enough collateral. For instance, with an SBA 504 loan, occasionally you will see a 90% advance. In most cases, if you are getting 90% financing, the site itself will not be sufficient collateral and a lender will look for additional insurance. This is what they don't tell you.
Some folks use a Dry Launder method, I am against it, but it would save the cost of equipment and trailer. For equipment, I don't have any top equipment picks, but I do like a general pump or CAT pump. I also like Honda small engines for equipment, and Goodyear hoses, and Cox reels.
This does not make conventional financing a better option because if you're looking at Cost of Funds (COF) and Return on Investment (ROI), the higher advance will almost always outperform the lower. If you have insufficient on equity, it might be necessary to find a partner with more capital. If this partner does not wish to have involvement in the day to day operations of the vehicle launder, after a period, you should be able to buy them out from the profits of the facility.
Although he wasn't from the USA, the methods of operation, types of vehicles to be cleaned, and the amount of time to launder the vehicles based on size (his country has smaller vehicles than these considerable SUVs in the US). So, we started kibitzing on various assumption to put forth a decent proforma.
The sources for your down payment have not changed that much. The first place that people look for down payment for buying or building a vehicle launder is personal savings accounts and liquid investments. This is a logical place to start. Frequently people would use their line of credit from a home equity loan, but while this is still an option, you even will have to show the majority of money coming from non-borrowed assets.
If you merely launder high volume low-cost all day you'll need a 250 gallon water tank, but if you mix it up and they are vehicles (you will get better with practice) then you will do 45-60 launders per day, 1-2 details, 2-3 mini-details (express wax), with about 10-15 interior cleanings - with a crew of two, kicking butt. Now then, I am not sure what the costs of purchasing a trailer in your immediate area, as there are differences everywhere in the prices of such equipment, but you need one which can hold about 1200 lbs.
Next, you have to decide what kind of mobile vehiclelaunder company you were going to be and what kind of services you will specialize in. If you're going to go to large corporations to launder vehicles in the parking lot that you need to know the number of large companies that are in your area, assess the competition, and divide up your market share.
While it is true that certain types of financing instruments offer higher Loan To Value (LTV) financing, they still will look to see if there is enough collateral. For instance, with an SBA 504 loan, occasionally you will see a 90% advance. In most cases, if you are getting 90% financing, the site itself will not be sufficient collateral and a lender will look for additional insurance. This is what they don't tell you.
Some folks use a Dry Launder method, I am against it, but it would save the cost of equipment and trailer. For equipment, I don't have any top equipment picks, but I do like a general pump or CAT pump. I also like Honda small engines for equipment, and Goodyear hoses, and Cox reels.
This does not make conventional financing a better option because if you're looking at Cost of Funds (COF) and Return on Investment (ROI), the higher advance will almost always outperform the lower. If you have insufficient on equity, it might be necessary to find a partner with more capital. If this partner does not wish to have involvement in the day to day operations of the vehicle launder, after a period, you should be able to buy them out from the profits of the facility.
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