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

In The News:


Mission Statements: More Important Than You Thought

If an organization lacks a mission statement, it is worthwhile... Read More

Financial Fundamentals - What Every Small Business Owner Should Know!

Business owners rarely go into business to deal with the... Read More

You Are Invited

Business card size works well for invitations to special events.What... Read More

11 Things Small Business Owners Can Learn From Rudy Giuliani

1. Leadership Is Learned ? While many people appear to... Read More

How to Get Started As A Government Contractor

Becoming a contractor or sub-contractor for the U.S. government can... Read More

Become The Squeaky Wheel and Watch Your Business Skyrocket!

Providing high quality customer service is a must for any... Read More

Get Out Of The Rut And Back On the Track

Do you sometimes find yourself just going "through the motions"... Read More

Create a Win Win for Your Small Business

Discover How Specialized Cost Containment Creates A New Win-Win Position... Read More

Making a Donation to Bring MORE Business

How a donation is different from a sponsorship and what... Read More

Business Relationships Defined

What makes a business relationship?What really makes a business relationship?... Read More

The Responsibility Conundrum - Where art Thou?

Mr/Ms, 'not me' is often on holidays in your business.... Read More

Predicting Business Retirement Satisfaction for Business Owners

Most business owners do not think of selling their companies... Read More

Private Investigator Tactics

A Private Investigator is a professional trained in the art... Read More

How to Successfully Avoid Becoming One of The 80% of Small Businesses That Will FAIL

It's a commonly quoted statistic: 80% of all small businesses... Read More

Image of Your Franchise Automotive Outlet is So Important

Image of your franchise automotive outlet is so important. Some... Read More

11 Things Small Business Owners Can Learn From The Supreme Court

1. Have A Strong Constitution ? Justices deliver decisions by... Read More

Public Relations: Antidote for Small Business Failure

When small businesses fail, the wreckage is often assigned to... Read More

How to Bond a Business Relationship

When should you create a foundation in order to solidify... Read More

Reduce Stress, Increase Profits By Incorporating Strategic Systems In Your Small Business Success

Whether you are an Entrepreneur or Business Professional there are... Read More

Window Cleaning Business Future Challenge With Self Cleaning Glass

Self-cleaning glass has been talked about a lot, with such... Read More

Awning Cleaning Business Case Study: Entrepreneurship 101

It is most fascinating to study how entrepreneurs spot opportunity... Read More

Provide Affordable Health Care To Employees At Little To No Cost To You

You can provide affordable health care plans to your employees.... Read More

Getting Grant Funding For Your Nonprofit Organization

Do you need grant funding for your nonprofit organization? If... Read More

The 5 Traits of Baby Boomer Business Owners

As a practitioner and student of Small Business Marketing, I... Read More

Increase Your Profits with a Point of Sale (POS) System

Whether you operate a chain of restaurants, a mom-and-pop convenience... Read More