As children, many of us had big dreams of becoming famous sports stars or movie actors. These...
The Answer to Your Biggest Challenges Are In Someone Else Solution
"When you change the way, you look at things, the things you look at change." - Dr. Wayne Dyer
When you have clarity around your challenges, the innovation to solve them appears in your day-to-day.
Car washes are seasonal and weather-related, making it difficult to operate with fluctuating sales and staffing. They historically commanded only 3-4 times earnings when being sold. Today all of that has changed.
According to Private Equity Wants to Wash Your Car WSJ-8/20/2022 by Miriam Gottfried, venture capitalists are paying 18 to 20 Times their Earnings to purchase car washes. That is incredible.
The shift to a subscription model is responsible for the rocketing valuations in Car Washes. When Car Wash Owners identified, their biggest challenge was inconsistent revenue. The Amazon Prime/Netflix model became the obvious solution and dramatically increased the value of the business.
What is the biggest challenge for your business? What other industries have solved that problem for you? How can you apply it in your situation?