Financial Strategies for a Mobile Car Wash Business Plan

Writing a business plan for a mobile car wash is fairly easy, yet often operators fall down in understanding the financial strategies and costs. Bankers and Investors alike will want to see that you have a well thought out business plan to insure your start-up goes successfully. Below you will find a sample mobile car wash strategic financial strategies section for a business plan. I recommend that you print this out and modify it to best fit your over all plan and then once you have a good rough draft think on it for a few days and add in your additional costs and thoughts or insights. Then type it up and use it in your over all business plan so that you can get the funding necessary for a success start-up either thru a loan or investor partner. This sample is written from the perspective of a franchisee, which is part of a larger franchise company. If you are to be an independent business your plan may slightly vary somewhat.

- - - - - - - - - - -

Financial Strategies

Taxes

We will use the provided accounting software on our computer to keep our books, write checks and invoice accounts.

We will receive a print out of all credit card transactions from our merchant account at Wells Fargo Bank. We will know exactly the revenue received from credit card sales. We will keep track of accounts receivable from fleet washing and industrial cleaning. These customers will pay from open purchase order numbers under contract cleaning agreements.

We will find a bookkeeping service to compile data into a standard Profit and Loss Statement, Accounts Receivable Report and Balance Sheet. At the end of the period we will use these reports to do tax statements.

Capital Requirements

To purchase The Car Wash Guys franchise, we will need to either have or borrow $65,380. We will also need as much as $4,000 working capital.

Breakdown of Investment

I. Tangible Items:

· Clipboards, Stationary, Tee-Shirts $ 600.00
· Personal Organizer System 140.00
· Supplies Inventory 493.00
· Water System 150.00
· Carpet Extractor 350.00
· Vacuum/Air Freshner 1,000.00
· Steam Cleaner 6,000.00
· Lights, Tank 400.00
· Credit Card Machine 1,695.00
· Computer, Printer, Etc. 3,200.00
· Signage 112.00
· Truck Bed 6,895.00
· Truck 18,455.00
Subtotal $39,500.00

II. BONZAI AND BLITZ MARKETING:

Subtotal $ 5,380.00

III. TRAINING COSTS AND MISCELLANEOUS:

(COMPUTER, OPERATIONS, ETC.)

Subtotal $ 500.00

IV. FRANCHISE FEE:

Subtotal $20,000.00

Total Cost to Franchisee $65,380.00

Suggested Cash Flow Requirements $ 4,000.00

Total Sum Needed $69,380.00

Our franchisor has secured a leasing company which can help us with financing on approved credit. We can lease $50,380 leaving a total balance to the franchisor of $15,000 which we can pay in cash or charge on a credit card. We will also need $4,000 of working capital to get started and a 10% security deposit to the leasing company covering the first and last payments.

Cash Up Front

$15,000 Franchisor

1,000 10% Deposit On Equipment Lease *Approx. Amount

650 Two Payments On Equipment Lease *Approx. Amount

1,500 Other Costs

4,000 Cash Or Available Credit Card For Working Capital

$22,150 Total Cash or Credit Card Amount

If we choose to finance with credit cards the down payments and remaining initial costs, we will pay these off ASAP due to the high interest rates charged for credit cards.

Benefits

We will buy a major medical plan through an outside insurance provider. Our franchisor has done much research on this and has located an agent with great health care and major medical programs. We can select a plan, which can be purchased for under $150.00 per month and will be paid for out of our company funds. The deductibles are extremely low and the maximum co-payment in a calendar year will be no more than $5,000. Our franchisor will pay the initial first month's payment no matter which major medical insurance program we select. We will obviously shop around and choose the best plan for best possible price. In case of catastrophic medical problems, we can choose to purchase disability income insurance or business overhead expense insurance plans.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs

---

How To Make Sure Your Customers Still Trust Your Small Business

The stock market is still on a wild roller coaster... Read More

Small Business Opportunities Magazine Business

A Small Business Opportunities Magazine is one of the new... Read More

How Most Business Owners Sabotage Their Success

Owning a business is a challenging endeavor. If you're like... Read More

Professional House Cleaning - The Dirty Little Secret

Are you tired yet of all the books out there... Read More

Pressure Washing Business and Post Fire Cleanups

Many have not experienced a fire up close. One year... Read More

Dont Wait - Sell The Future Now!

Just as you are about to say "good-bye" to your... Read More

Motorizing for Profit - The Craftsmen Have Left the Building

In the summer, I can't drive two blocks without seeing... Read More

The Misconceptions of the Value Of Disclosures in Franchising

Disclosure laws in franchising are suppose to help the consumer.... Read More

The Business Autopsy: A Fact Of Life

Last week we discussed the importance of performing an autopsy... Read More

A Small Business Consultant Can Help in Many Ways... But One Thing He Can?t Provide

A consultant must remember that the business belongs to the... Read More

Franchising Industry Burdened in Over Regulation

There were only an estimated 1800 active franchisors in this... Read More

The Perfect Mission Statement

One way to determine your companies mission statement is based... Read More

S Corporation ? What Is It?

For many small businesses, the "S" corporation is the business... Read More

Naming Your Business: 3 Tips To Ensure Success

If you are just starting your business, or if you... Read More

1-2-3 Steps To A Successful Joint Venture

A successful joint venture marketing effort is the goal of... Read More

Franchise Companies Come and Go

Each day we hear of companies entering the franchising industry.... Read More

10 Cardinal Rules for Business Growth

After over 30 years of participating in hundreds of businesses,... Read More

Tips on Setting Up Your Small Business Bank Account

One of the first things you will need to set... Read More

Hiring A Virtual Assistant Can Help Your Business Grow

Are you a home or small business owner and you're... Read More

Small Business and Branding ? Why and How?

When we speak of branding most of the time people... Read More

Postcard Marketing Your Small Business

One of the best marketing strategies a business or organization... Read More

Marketing a New or Small Business on a Budget

There are almost as many opinions and views on marketing... Read More

Slip And Fall Professionals; Service Businesses

Since you own a business you probably have liability insurance... Read More

Leverage The Power of Publicity For Your Small Business

Your business is only as good as the number of... Read More

One Of The Best New Business Opportunities May Be Right In Your Home - A New Daycare Business

The day care industry is expanding. There are now more... Read More

Mobile Car Wash and Cleaning Post Office Jeeps

If you own a mobile truck washing, pressure washing or... Read More

Discover How You Can Start Making Your Small Business Dream Come True

As a teenager I worked for my father's small business.... Read More

How to be Annoyed and Make Money

When do annoyances in a relationship become too much to... Read More

The 5 Habits of Highly Successful Small-Business Owners

Have you ever wondered what the difference is between a... Read More

Outsourcing ? A Positive Approach For Small Businesses

Outsourcing is the strategic use of outside resources to perform... Read More

Uncover Free Veins Of Gold By Prospecting Online Guru Newsletters (Part 1 of 2)

Incredible as it sounds, you have a goldmine of free... Read More

Building Marketing Momentum For Your Small Business

The success of your business depends on your ability to... Read More

11 Things Small Business Owners Can Learn From Tiger

1. There Are No "gimmes" ? They count two-foot putts... Read More