Are CARWASH Businesses DEAD?? | My Two Locations
Published: 2022-10-09
Status:
Available
|
Analyzed
Published: 2022-10-09
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
A new Hamilton payment kiosk has been reliable, experiencing only two partial downtimes, both requiring a simple reset.
"this is a new payment kiosk from Hamilton and it's been a tank we've only had this machine go partially down twice and it went down last week and all it needed was reset"
Pending
A competitor to CryptoPay, which the speaker uses for their car washes, has offered to send free credit card readers for testing against CryptoPay.
"I've got a sponsor that is crypto pays competitor we use crypto pay for the car washes it's cryptopaced competitor and I think they're going to send free credit card readers out to us to test against crypto pay"
Pending
CryptoPay credit card readers are technologically advanced and have performed well, but a repair costs $175.
"there's a lot of technology in one of these crypto face wipers and they've worked really good for us up to this point but the problem is once they go out they're 175 dollars to just just repair not replace just repair"
Pending
Sales at one car wash location were expected to decline due to nearby bridge construction, but this was not the case for another location.
"my partner was starting to feel really concerned about sales coming into the car wash because they started really going down over the summer in this location but not the other one and my estimation was that it was because the bridge was down"
Pending
The car wash processed 120 cars over a Friday, Saturday, and Sunday, generating revenue at $10 per car.
"we watched 120 cars in the automatic, which at 10 bucks a piece is not bad"
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A past anecdote highlights an operator who neglected to check their car wash's bill acceptor, which the speaker finds surprising.
"I heard of a one car wash operator quite some time ago and they just would never check their bill acceptor they just didn't care about it it just blows my mind"
Pending
The speaker acquired their laundromat with no out-of-pocket expenses and built most of their business through seller financing and taking over profitable ventures with zero initial investment.
"I bought my really famous laundromat for no money out of pocket most of my business has been built through seller financing and negotiating deals where I take over profitable properties profitable businesses with no money out of pocket"
Pending
Clients of the speaker's coaching program have successfully started profitable businesses with minimal or no upfront capital.
"we've got people like Brandon and like Sean on our coaching calls right now who've been able to get into their own profitable businesses with very little money out of pocket and in some cases no money at all"
Pending
A significant amount of cash was collected from one car wash in a single day.
"we'll go in here and check real quick look at all this money in here whoa whoa look at it guys this is pretty good this is one day at the car wash"
Pending
Sales at a second car wash are also increasing, attributed to the 'fear of missing out' effect when potential customers see other cars being washed.
"sales are up here too but not nearly as much as the other car wash and my thought process is money be gets more money it's odd when someone sees that there's cars being washed here they want to get their car washed if we have two bays occupied one Bay open it increases our sales so much because it's a fear of missing out"
Pending
The car wash's automatic bay, previously only serving about five cars per day, is now functioning reliably and consistently.
"when we were not everything was working really well we would have maybe five cars wash a day in this automatic it's now working reliably from what I can tell we're getting consistent results out of it"
Pending
In a single 20-minute period yesterday, five cars were washed through the automatic bay, generating $50 in revenue.
"I was here yesterday and in a 20 minute time span we washed five cars out of this made 50 bucks"
Pending
Previously, on weekends, revenue might have dropped to $50 not due to machine failure, but because of lost customer trust, which is a critical concern for business owners.
"over the weekend we might only make 50 bucks and it's not because of machine not work it's because we have lost customer faith and that as a business owner that's the absolute last thing that you want to do is make your customers mad and lose their fate"
Pending
A loose connection in the change machine is causing it to malfunction intermittently.
"I've got a loose connection in our change machine that's causing it to freak out every so often"
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The speaker is concerned that their wallet damages the magnetic stripes on credit cards, and since the car wash machines lack EMV readers, the card readers may be wearing out.
"I don't know the wallet that I have kind of tears up the mag strip on cards and since these machines don't have EMV readers the chip I'm worried that they're wearing out"
Pending