Do you want to open a car wash business by buying Spot Not Car Wash franchise? If YES, here is how much it cost to open Spot Not Car Wash franchise successfully. Founded in 1978 by RACO Car Wash Systems Inc., Spot-Not Car Wash has been setting the pace as an auto wash franchise establishment since 1985.
The company, situated in Joplin, Missouri, offers programmed auto washes coupled with a self-benefit framework to handle auto cleaning needs. Spot Not Car Wash is a high-pressure spray brushless automatic car wash, augmented by full-featured, self-service wash bays. Each facility provides canopied, lighted vacuum areas where customers can either get assistance or wash their cars themselves.
Spot Not Car Wash boasts of being an all cash business which requires little or no employees and can easily be set up with the given resources. Spot-Not also provides high pressure spray frictionless automatic/self-service car wash.
This company offers entrepreneurs a low cost means to get into the car wash business. Equally important, Spot Not has no receivables, and requires a minimum inventory. In addition, it will have low variable expenses. The business is simple to run and customers serve themselves, 24 hours a day.
Spot Not Car Wash establishment openings give franchisees a business future loaded with potential and energy. Note that this low venture opportunity requires little stock and just a couple of representatives. Note that as a franchisee, you will also receive ads, flyers, and other marketing materials which have been professionally prepared to promote your business.
If you seek to exit, your business can be sold to any buyer approved by the company. There is a transfer fee for administration, legal, and training expenses to implement the transfer and, if requested, the franchisor will offer your business for sale for a sales commission.
Initial training consists of three phases. In the first phase, before the opening of the car wash, the franchisor will offer ten days of on-the-job training at a designated training location. The second phase consists of three and one-half days of management training at the franchisor’s corporate office before the car wash opening.
The third phase is a three and one-half day technical training course that holds at the corporate office approximately three to six months after your Spot-Not Car Wash opens for business.
You and/or your designated manager or employee is expected to successfully complete the three phase training. Even though the franchisor will not charge specific tuition or training fee, you are responsible for the salary, travel and living expenses incurred by the attendees.
Financial Requirements of Opening a Spot Not Car Wash Franchise
- Liquid capital required: $200,000
- Net worth required: $300,000
- Investment: $622,000 – $1,100,000
- Franchise fee: $25,000
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Steps on How to Open a Spot Not Car Wash Franchise
Just like it was stated above, there are many advantages to a Spot Not Car Wash. Aside from the fact that only a few employees are required to run the business, your Spot Not will have no receivables, and requires a minimum inventory. Also, you will have low variable expenses. So, if you are interested in joining this team, here are steps to consider:
1. Know How You Intend to Finance the Business
Aside skills and a proven model needed to make a business successful, adequate funding is very critical to every business process. Before you start the process of acquiring a Spot Not Car Wash Franchise, ask yourself how much money you have to invest, and how much of that you can afford to lose. It is also advisable that you look closely at how you will obtain financing, and how you will get by financially while your Spot Not Car Wash gets established.
2. Acquire the Necessary Skills
Ensure you have the skills required to run a car wash. You should have spent some time working in a car wash in the past, to at least understand the day-to-day activities. However, if you don’t have car wash experience, you can learn from the detailed training offered by Spot Not Car Wash.
It’s also important that you understand how to handle the business’ money and hiring and managing workers for your franchise. You can also choose to work with a Partner who has car wash experience and the skills needed in this endeavour.
3. Due Diligence
Spot Not Car Wash Franchise can be a very good franchise, but does it suit your business visions? You will have to do your research and get as much information as possible about this franchise. If the company makes any public earning claims, the Federal Trade Commission requires it to provide written proof. This can consist of income statements for various franchisees, or audited and documented statements of earnings for the company as a whole.
However, if the income documentation includes average income amounts or gross income amounts, you can choose to ask for more details. Agreeably, averages can be misleading if a few franchises are doing much better than the others, and gross income amounts don’t consider the cost of overhead. Additionally, high gross does not normally translate into high profits. It’s very pertinent that you know the expenses of operating the business are going to be.
4. Review the Disclosure Information
Now is the time to efficiently look at the company’s disclosure information, which it is mandated by the law to give you before you buy a franchise. Note that these documents comprise detailed information about Spot Not Car Wash and its operations. The FDD should also include itemized listings of everything you will get as a franchisee and exactly what you can expect to spend to open the doors to your new franchise.
Also have it in mind that financial disclosure information will also elaborate how much business experience the company executives have, and whether it has been involved in any litigation, bankruptcies or foreclosures. Always be sure to see how much training is included. Find out where that training will be and how much help you can expect to receive once your initial training period has been completed.
5. Seek out Current and Former Franchise Owners
You will also have to talk to several current and former franchise owners to get proper understanding of how they feel about the company. Ask them about the benefits of owning a Spot Not Car Wash Franchise, and the disadvantages. Also find out if they have any regrets buying the franchise. If there are serious flaws in the franchise system, you should look for a different company to work with.
6. Pay Your Franchise Fee
Only take this step once you are very sure that you want to start and handle a Spot Not Car Wash and that you will get good value for your money. Have it in mind that Spot Not Car Wash has a unique procedure for processing and screening franchise buyers, so you will need to comply with whatever the franchisor says. You might be required to provide proof of financial stability and worth, references, a business plan or other types of documentation.
7. Prepare to Sign
It is always advisable you consult an attorney and an accountant. Sign any final paperwork the franchisor gives you once you have been accepted as a franchisee. Read everything carefully to make sure it is what you expect and no changes have been made to amounts or terms of the agreement.
Franchising can help put you on the road to opportunity. If you’re looking for a business future filled with potential and excitement, then a Spot Not franchise is for you. Spot-Not offers high pressure spray frictionless automatic/self-service car wash. This is a great low cost way to get into your own business.