Are you wondering how much a truck wash makes? If YES, here are 7 factors that will determine how much you can make running a truck wash business.
To have an idea of the amount a truck wash business owner is expected to make daily, weekly, monthly, or yearly, you should clearly define the services a truck wash business offers. A truck wash is a facility that cleans, washes, and waxes automotive vehicles, such as passenger cars, trucks, vans, and trailers.
Some truck wash facilities also offer self-service truck wash options. So, with that in mind, we can estimate what a truck wash business that offers the services listed above is expected to make. In general, a standard truck wash is expected to make between $120,000 to over $500,000 (especially if they own franchises) and a mobile truck wash makes an annual revenue of anywhere between $66,000 and $85,000.
It is important to point that there is no one mold-fits-all when it comes to how much a truck wash business owner is expected to make. There are some factors that we are going to look into before giving an estimate of how much an average truck wash business owner can make yearly.
Factors That Determine How Much An Average Truck Wash Business Owner Can Make Yearly
The Size of the Truck Wash Business
You will agree that no one can conveniently state the amount a truck wash business owner is expected to make yearly if you do not know the size of the truck wash business and the number of customers the facility can accommodate per time.
A truck wash business that operates from a small facility is expected to make far less than a truck wash business that operates from a standard outdoor facility.
If your truck wash facility is large enough, it can accommodate more customers (trucks per time) and that will mean increased revenue. Normally, the start-up cost for a standard truck wash business can run from $50,000 to over $500,000.
The Location of the Truck Wash Facility
A key factor that can greatly influence the money a truck wash business owner is expected to make is the location of the truck wash facility.
If a truck wash business facility is located around a truck park or RV park, an area with the right demography, and around people who have the financial means (purchasing power) then the owner of the truck wash facility is expected to make more money.
The truth is that you will struggle to make good money from your truck wash business if you locate the business in an area filled with people who don’t own trucks or in the inner city where trucks hardly ply.
The Type of Machines and Services that are Available in the Truck Wash Facility
Another important factor that will determine how much a truck wash business facility owner is expected to make yearly is the type of truck wash machines and services offered by the facility.
You will agree that the money a truck wash facility that uses state of the art truck wash machines to cover restoration, and finishing of trucks and trailers to produce a pristine level of detail will make will be far larger than what a truck wash facility that only offers basic truck wash services is expected to make monthly.
The Management Style of the Business
Another key factor that will determine the amount a truck wash business owner is expected to make yearly is the management style of the facility. Trust me, the results you will get when you are a good manager with eyes for top-notch customer services will differ from a truck wash business facility owner with poor management style will make.
The idea is that a good truck wash business facility owner will not just retain their old customers, they will also keep getting new customers, and that no doubt will greatly influence the amount the truck wash business owner is expected to make annually.
The Business Approach of the Truck Wash Business
There are different business approaches that a truck wash facility owner can choose from and no doubt it will greatly influence the amount they are expected to make. A truck wash business owner may decide to operate only one location and do their marketing alone, or they may decide to go into franchising and also partner with other businesses that will recommend clients to them.
It is easier to find a truck wash business facility that operates franchises partnering with RV park operators, trailer park operators, and campground operators to make more money. In essence, a well–organized truck wash business that works with others will surely make more money than a truck wash business facility that only operates from one location.
The Advertising and Marketing Strategies Adopted by the Truck Wash Business
Another key factor that will determine the amount a truck wash business owner can make monthly and yearly is the advertising and marketing strategies adopted by the truck wash facility. Trust me, a lot of advertising and marketing strategies can help a business increase its earnings, but you may be expected to spend more.
But the results you will make will far outweigh the amount you spent on advertising and marketing. Of course, you don’t expect a truck wash facility owner that is engaging in aggressive advertising and marketing to make the same amount yearly with a truck wash facility owner that is passive with its advertising and marketing.
The Number of Years the Truck Wash Business is in Existence
In business, the number of years you are in existence will go a long way to determine the amount you will make especially if the business is well–managed.
For example, in your first fiscal year (FY1) you might make a hundred thousand dollars (100,000), in your second fiscal year (FY2) you might make one hundred and fifty thousand dollars ($150,000) and in your third fiscal year (FY3) you might make two hundred and fifty thousand dollars ($250,000).
Please note that if you are operating a traditional truck wash business and you invested massively in purchasing easy to operate truck washing machines, and equipment et al. In other to maximize profits, you should try as much as possible to keep the capital investment at a minimum and ensure that your truck wash business facility is far more capital efficient.