Car Wash Financial Model

So you want to get into the car washing business? Financial planning is in order, but assuming a lucrative location is acquired and no catastrophes happen it can be a viable business endeavor. In order for you to see what kind of scenarios will yield various returns / profits, this 5 year financial model has been built and tailored to the car wash business (tunnel or bay).

Latest Updates and Overview:

$45.00 USD

The template will be immediately available for download after purchase. This is included in the industry-specific financial model bundle.

Recent Updates: Capacity and seasonality logic added, 3-statement model integrated (Income Statement, Balance Sheet, Cash Flow Statement), cap table added, and general formatting conventions and global assumptions improved.

The assumptions for this template work no matter if you are doing a tunnel or a bay-based car wash. You can define the on-going costs in two schedules. The first is based on an average cost per car per expense type (deals with costs that change as car counts change such as washing fluids / repairs / electricity / claims/ water (variable costs). The second are just fixed monthly expenses that can be defined in each year and there are 14 slots available for this section. These would be costs that don't change with car counts or may change very little as car counts change (legal / accounting / manager).

There are many ways to go about developing startup cost, running cost, and revenue assumptions. I have researched some of the industry standard metrics and built a nice flow of back-end structures so that you can get a nice five year financial forecast of operations and returns.

The Assumption Tabs Include:
  • Startup costs / financing %
  • On-going costs (variable per car and fixed)
  • Revenue (car count per month by year and % of each car falling into each pricing ticket)
  • Include sale of business or not / 2 valuation techniques to choose (EBITDA multiple or % of annual sales)
Beyond just showing operating income, this model goes into break even month/year, financing variables dynamically updating the cash flow, potential sale of the business, and the actual cash outlay after taking into account financing (so we can do an IRR calculation).

You also get a nice set of charts to visualize running cash position of the business itself, revenue, expenses, profit, and other metrics such as margin %'s and car count per wash type by year.

The other use you can achieve with this car wash financial model is using it as a sort of budget / goal. This is the main reason why a monthly and annual P&L summary was included. The monthly allows you to better track what you actually end up doing per month and how close/off your assumptions were. Based on that you can start setting monthly goals / annual goals and track actual progress.

The best way to use this for budgeting is simply creating a copy of the template. You use one for actuals and one with your forecasts.