As society continues to evolve, the notion of entrepreneurship has become more inviting to many people. This is because individual needs are changing as family dynamics and hierarchies also adjust with advancements and the implementation of innovative technologies. As a result, what may have once been a reliable business project may have become stale and outdated and no longer sure to bring revenue.
Since the needs of society and its members are continuously evolving, deciding to undertake a new business is risky. Because of the increased risk involved with beginning a brand new business, determining whether a project is a good business opportunity instead of a good business idea is reported by Entrepreneur Media as a critical element in evaluating the potential of a business venture.
Accordingly, many elements are established to evaluate whether you have a business opportunity–a plan with the ability to grow without limitation (due to structure or resources) with a definable customer base. Alternatively, you may only have a business idea, something exciting that cannot be implemented and is not scalable. If a business is not scalable, it lacks growth ability due to structural issues or lack of resources.
Understanding The Basics of Business
Having a viable business opportunity means that your business has what is known as scalability. To be scalable means that the company can grow continuously and is not predicted to encounter issues relating to an inability to keep up with demand. These struggles could occur due to the business structure or the lack of available resources.
In the case of a mobile car detailing business, there is plenty of room for individual business owners to scale their business to a larger size to accommodate a heightened demand. In addition, as the world changes, automobiles have become a long-standing staple across the globe. As a result, the automotive industry has a leg up because of its ability to remain relevant throughout the years.
Keeping this in mind, it is then understandable why a mobile car wash business is a good business venture for an individual business owner. When beginning a business, especially if this is your first, it is best to attempt to start a company that you have complete confidence will succeed. Full trust could be established, for example, if you were opening a franchise. This is because a franchise has already established its name and brand, making it much easier to start, even when a business is “new,” because of the already established brand and presence.
Starting a mobile car wash business has similar benefits. Cars have been around for nearly 150 years, so the market is stable and somewhat predictable. Further, Statista has shown an increase in the market size for mobile detail businesses. Consumers are desperate to maintain as much value as possible with purchases. They are willing to spend money on scheduled maintenance and detailing if it means the car holds a higher value for a longer time. With the rising costs of fuel and the additional rising cost of the average vehicle, investing in a mobile car wash business means investing into a niche growing in size and likely to be around for many more decades.
Discovering the Profitability of a Mobile Detailing Business
Not only have cars been around for nearly 150 years, but the advancements in automobiles do not appear to be moving toward eliminating cars. Instead, the idea has shifted towards creating more environmentally-friendly electric vehicles. This means a less likelihood of a shrinking market that might eventually force a business to close its doors.
In the case of a mobile car wash business, the profitability can range significantly depending on various factors. For example, suppose an individual decides to begin a car wash business by themselves as a sole proprietor and does not plan to have any other assistance. In that case, the profitability is limited to the amount of work that one individual can achieve. Although the owner may be willing to work extended hours, there is only so much they can do as a single individual, even if they implement newfound methods to increase productivity.
On average, one detailing session ranges from $80 to $325 and ranges from 90 minutes to roughly four hours. You can simply calculate what one individual could make working alone to put that in perspective. For example, suppose one individual completes four 90-minute jobs for $100 each, and two 60-minute jobs for $80 each. In that case, you can quickly calculate a rough estimate of revenue. First, multiply four times 100 (four jobs for $100), then add that number, $400, to the total of two multiplied by $80, $160 for a daily sum of $560.
If the individual plans to work a standard five-day workweek, multiply the daily total by five to get the weekly total of $2,800. Multiply the weekly sum by the total number of weeks in a calendar year, 52, for an annual estimated revenue of $145,600. Keep in mind that this estimate is with only one individual working eight hours a day, five days a week.
Small Startup Costs and Minimal Maintenance Costs
Another element to consider when beginning your own business is the cost of starting the company and maintaining it. The low startup and maintenance costs are another reason why starting your own mobile car detailing business is a sustainable business opportunity. When creating a mobile auto detailing business, the supplies necessary to begin can initially be transported using an average sedan or another passenger vehicle. You will likely want to purchase a work van to have space to store your tools and supplies. Still, it is certainly possible to begin with just the basic cleaning supplies when you are just starting.
Particularly in terms of water and power tools, it may be best to begin your business by providing mobile services at locations where water is already available. This eliminates the need for you to have your own water source, meaning less financial investment is required when starting your business. Additionally, you can forego purchasing a generator by providing services where access to a drop cable for electricity use is available. These methods allow new business owners to start their mobile car detailing business and grow as the business grows.
As a result, the maintenance of a mobile car wash business is minimal. For individuals who choose not to provide their own water or power source, such as a generator, a separate utility work truck will likely be unnecessary. This means eliminating the purchase of an additional vehicle, saving the business thousands on the initial investment and continued maintenance. Vehicles require continuous upkeep and maintenance determined by state regulations meaning extra costs for the business unless eliminated. Whichever direction you choose, providing your own water supply and power supply is still inexpensive if you prefer to begin with a complete setup.
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Most importantly, the replenishment of necessary inventory for a mobile car wash business nets a small monthly amount concerning costs. Though there will need to be an investment into the initial stock, maintaining the inventory will be much less of a financial burden. This is so because of the longevity of cleaning supplies and availability to purchase in bulk. Especially as a business tailored to detailing and cleaning, the ability to acquire your necessary supplies in large amounts will offer an opportunity to save even more money in the long run. Although all business ventures will have their own variation of expenses, a mobile car wash business presents a unique experience. This is created because the maintenance costs mean a lower amount of revenue required to keep the company afloat.
Overall, starting your own mobile car detailing business is an excellent business opportunity. Over time, automobiles have become almost second nature to individuals, and people’s care for their vehicles has increased. As a result, more people seek to maintain the value of the things they purchase, including cars. As a result, a business created and specifically meant to keep people’s vehicles clean is likely to see an increasing market size and what seem to be limitless potential profits.
Automobiles have been around for more than a century, and the trend favors keeping it that way. A business that centers around a known need and that has growth potential may seem to be a scary step. Still, it is worth taking, which can be highly profitable if appropriately executed. Having oversight as a business owner will allow individuals to select the best method for structuring and developing their business and increase profits rapidly and continuously in the case of a mobile car wash business.
Through minimal startup costs and little maintenance costs, beginning a mobile car detailing business offers individuals the opportunity to gain hands-on experience and training. Additionally, the business’s profitability depends on many different factors. Still, it relies heavily on the individual, mainly if they are the one who called the meeting to support them within their chosen career path.