He CRUSHED this side gig $$$

Hey Side Hustle Fam,

I get some doubters. People call my content fake. It’s cool, I think it’s good to be skeptical.

But I also know I’m not the only one doing this.

So here’s Dan’s story:

A follower sent me his car wash story.

He doubled his profits in a couple years. Which means he doubled the value in a couple years. And this year he'll add 30% to that...

HUGE ROI for him.

How? It's the classic value add playbook I've talked about.

Want to know what it is? Here we go:

He found a car wash for sale outside of his hometown in North Carolina.

It was for sale for about $975k, but it sat and he got it for $825k.

Top line was $125k, NOI $72.5k. Juicy margins 😋

It had self serve bays and an automatic that needed some love.

So he got to work.

First: optimize Google My Business listing. Focus on getting 5 star reviews, update photos and text with SEO terms, update regularly. Easy. Cost: free.

Then: respond to customers - answer the damn phone! You can head off bad reviews and turn 1-stars into 5-stars simply by answering the phone. We just signed up with a phone answering service (ReceptionHQ) for this very reason. Cost: $100/mo

»»» Note: you can do this too, start here: TaxFreeCashCow.com 

Keep the site clean - if the bays are dirty people won't even bother stopping. Have someone on hand during busy times to clean them up, fill then empty the trash cans, help customers and then ask for 5-star reviews. Having real people on site is 🚀 for the business. Cost: around $15-17/hr. Pays for itself, believe me.

Install credit card readers on EVERYTHING. Vacuums, vending and of course in the self serve bays. Credit card users often spend 3x as much on a car wash as cash users. Cost: prob ~$5-6k

Then switch timers to count UP. Seems simple but its powerful. If the timers count down most people will simply stop washing and leave when the timer is up. Count up and they'll wash more, spend more. Cost: free in many cases, ~$2-3k if you need new timers.

Then he upgraded his automatic. It was a touch-free, he added soft touch (light brushes). Was washing 5500 cars a year in the automatic - the first full year with the new gear he'll wash 15,000!!

See that's the thing about car washes, when you upgrade the equipment - and then advertise that fact - people come in droves to try it out. You can also raise your prices easily.

Cost: $165k, but ZERO out of pocket. There are plenty of financing options for income producing equipment.

If the avg ticket on the new wash is $12, and he just added 10,000 more washes, that's easily $120,000 in additional revenue you'll get for 10+ years on a set-up that cost you $165k plus interest. The math works great.

Then he added membership to the mix that will juice margins and start generating mailbox money.

All in his improvements doubled revenue to $249k, doubled NOI to $150k last year.

This year those numbers will be ~$324k and NOI will be $195k.

If you use the same cap rate (multiplier) that he bought with ($72.5/$825) 8.7%, the wash he bought for $825k is now worth...

$2.2 MILLION. He's probably 7x'ed his equity and is cashflowing $120k a year. And that's before the incredible tax benefits.

Not bad for a little side gig, eh?

Like this? Make sure you share it and follow me for more, I'll show you how to do this yourself, on about 5 hours a week.

🔥It's the perfect side hustle for W2 earners 🔥

Want to do it yourself? Go to TaxFreeCashCow.com

Questions? Ask me anything…

Kriss the Car Wash Guy