How to create a passive income through a self-service car wash

If you do not want to be an employee all your life and office hours from 9am to 5pm just do not suit you, think about whether you want to build a passive income for yourself. It is characterized by the fact that you invest first working time or money and the result is that it finally yields a profit – so much so that you hardly have to invest any more time and energy.

There are different options

There are multiple ways of building a passive income. A popular example is the author who spends time and effort on his book and then enjoys the royalties. This works very well in a few cases, but in many cases not at all. Another option would be to speculate with stocks and shares. However, this requires certain skills and an excellent knowledge of the money market. In addition, there is a very high risk of making high losses. Somewhat more secure alternatives are investments in property that you can rent, or in automatically operated service equipment such as car washes.

Even self-service car washes are not fully autonomous
 

Having a self-service car wash does not mean you do not have to worry about it at all. You do not have to be there all the time as users insert coins into the machine. However, the washing chemicals have to be replenished from time to time and you should take the money out regularly. It is also essential that you check your system for proper functioning and have it serviced at the correct intervals. For this purpose there are service offerings such as e.g. at Mark VII we have special personnel throughout North America who can be with you quickly to service your site. The same applies of course for repairs. A number should be visible on the system via which users can report defects and via which you can always be contacted. This is the only way to respond quickly enough and avoid prolonged downtime or loss of customers.

In a way, it also ties you to the self-service car wash. However, the tasks involved are much less extensive than in wage-paying jobs. Accordingly, you can plan to spend most of your time elsewhere, be it for other work, be it for hobbies or for friends and family.

Careful planning is a basic requirement

In order for your self-service car wash to pay for itself as quickly as possible and ultimately to provide you with a passive income, various factors must be in place. This mainly includes the location. Since you do not offer any other service besides the car wash, the facility must be known to as many people as possible. This is possible on readily visible sites on busy roads, but also next to gas stations or garages or shopping centers. It is also important that you find out about the competition in the area and if the demand is high enough. 

If you have questions about the financing of your self-service car wash, feel free to contact us at any time. We will explain the correct procedure for you. Part of the planning is that you think about how to make potential customers in the area aware of your self-service car wash. 

Self-service facilities provide long-term income

Once your self-service car wash is up and running, and the customers are aware of your wash and satisfied, very little effort to run it is required on your part. However, it will take some time until the investment yields a profit. But once that's the case, all you have to do is pay the running costs for water, electricity, cleaning supplies, and occasionally maintenance and repairs. Anything beyond that is your passive income. Leaving you with little more to do than collecting the money and taking it to the bank.