Open Car Wash Business Plan

CONFIDENTIAL
Soapy Rides
Table of Contents
Executive Summary ........................................................................................................................i
Chart: Highlights.........................................................................................................................ii
Objectives ........................................................................................................................................ii
Mission ............................................................................................................................................ii
Company Summary.......................................................................................................................ii
Start-up Summary...........................................................................................................................iii
Table: Start-up ............................................................................................................................iv
Table: Start-up Funding ..............................................................................................................vi
Chart: Start-up.............................................................................................................................7
Services ...........................................................................................................................................7
Market Analysis Summary ...........................................................................................................7

Market Segmentation .......................................................................................................................7
Chart: Market Analysis (Pie) .......................................................................................................9
Table: Market Analysis ................................................................................................................9
Target Market Segment Strategy ...................................................................................................10
Service Business Analysis .............................................................................................................10
Competition and Buying Patterns ..................................................................................................10
Competition................................................................................................................................10
Buying Patterns .........................................................................................................................10
Strategy and Implementation Summary ...................................................................................11
Competitive Edge ..........................................................................................................................11
Sales Strategy .................................................................................................................................11
Sales Forecast ............................................................................................................................11
Milestones ......................................................................................................................................16
Chart: Milestones ......................................................................................................................16
Table: Milestones .......................................................................................................................17
Management .................................................................................................................................17
Personnel Plan ...............................................................................................................................17
Table: Personnel ........................................................................................................................18
Financial Plan...............................................................................................................................18
Important Assumptions ..................................................................................................................18
Table: General Assumptions ......................................................................................................19
Projected Cash Flow ......................................................................................................................19
Table: Cash Flow .......................................................................................................................20
Chart: Cash ...............................................................................................................................22
Break-even Analysis ......................................................................................................................22
Chart: Break-even Analysis .......................................................................................................23
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CONFIDENTIAL - DO NOT DISSEMINATE. This business plan contains confidential, trade-secret information and is shared only
with the understanding that you will not share its contents or ideas with third parties without the express written consent
of the plan author.
Soapy Rides
Table: Break-even Analysis ........................................................................................................23

Projected Profit and Loss ...............................................................................................................23
Chart: Profit Monthly ................................................................................................................24
Chart: Profit Yearly ...................................................................................................................24
Chart: Gross Margin Monthly ...................................................................................................25
Chart: Gross Margin Yearly ......................................................................................................25
Table: Profit and Loss ................................................................................................................26
Projected Balance Sheet ................................................................................................................28
Table: Balance Sheet .................................................................................................................29
Business Ratios ..............................................................................................................................31
Table: Ratios ..............................................................................................................................32
Appendix..........................................................................................................................................i
Table: Sales Forecast ......................................................................................................................i
Table: Personnel ...........................................................................................................................iii
Table: General Assumptions ........................................................................................................iv
Table: Profit and Loss ...................................................................................................................v
Table: Cash Flow ..........................................................................................................................vi
Table: Balance Sheet ..................................................................................................................viii
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Executive Summary
Introduction
The Business
Buff Master will be providing customers with three services: exterior car washing, , interior
cleaning, and detailing. Buff Master has no true competitors that are trying to offer a high quality
service for a reasonable rate. Most are trying to compete on price alone. Buff Master’s ability to
provide a high quality service, both in regards to the actual washing as well as customer service
is all based on their ability to find the best employees. Hiring the best employees is cost effective
because it decreases HR costs associated with turnover and other employee costs. Hiring the best
employees and making sure that they are well taken care of ensures that they in turn take care
of the customers. Study after study proves that a happy employee is far more likely to provide
the highest level of customer service compared to an employee who is not happy and feels that
they are being taken advantage of.
The Customers
Buff Master will target three main groups of customers: individual car owner and leasers, car
dealerships, and local businesses. The surrounding area is quite affluent, 40% of the residents
earn over P 250,000 a year. Consequently, they have nice cars and want them to look nice. There
are different car dealerships within a the city which will require car washing services for the
various fleets. Lastly, there are many different local businesses that have company cars and that
require clean appearances.
Management
The strength of Mark's experience and his family's name equity and assistance is Soapy
Rides' competitive edge as well as a significant asset. Mark has been involved in the family's car
repair business for the last ten years. He has worked his way through the organization and has
been the manager for the last five years overseeing operations of $1.2 million annually. Before
the family venture, Mark received his MBA from Cornell University. With 30 years invested in
the community, the Deshpande family name has generated significant value as a fair, active
member of the community. Lastly, Soapy Rides will be able to leverage several of the
Deshpande's for their business expertise.
Soapy Rides is positioning itself as the premier hand car wash serving the Long Island area.
Mark has forecasted a 20% market share. The business will generate a very high gross margin
and a modest net margin after year one and comfortable margin after year three. By year three
the business will have developed a respectable yearly net profit.
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Chart: Highlights
Highlights
$240,000
$210,000
$180,000
$150,000 Sales
$120,000 Gross Margin
Net Profit
$90,000
$60,000
$30,000
$0
Year 1 Year 2 Year 3
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Objectives
The objectives for Soapy Rides Car Wash and Detail Service are:
• To be viewed as a premium car wash and detail service in East Meadow.

• Maintain a very high gross profit margin.
• Maintain a modest, steadily growing net profit margin.
• Expand to two locations after third year of operation.
Mission
The mission of Soapy Ride is to provide top-quality washing and detail service for luxury car
owners in East Meadow, NY. Soapy Rides will work to keep employees satisfied in order to
maintain impeccable customer service.
Company Summary
The company is solely owned by Mark Deshpande and will be funded by an initial
personal investment. Soapy Rides is New York State registered C corporation.
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Company Ownership
The company will be solely owned by Mark Deshpande. Mark has been in the car industry all his
life, having grown up in the family car repair business. He came across the location in
East Meadow purely by accident and he felt it would be a perfect location for a car wash service.
Start-up Summary
The start-up expenses for Soapy Rides will be financed by Mark Deshpande, from the profits he
made in selling his part of the family car repair business. The property on Hempstead Road will
be leased in April 2001 for a minimum of three years, with the option to extend the lease for
another three years after that.
Mark is working with the family lawyer to set up incorporation and to discuss lease issues before
the business is launched. He is working with a local graphic designer to develop a logo,
letterhead, and company brochures. Although Mark has been in the car repair business, he has
not been in the wash and detailing business, which is a very different service (quick turnaround
per car is incredibly important). For this reason he is working with an acquaintance to set up the
system that will ensure efficient service even during peak usage.
Rent on the location has been negotiated and will be $1,200 per month. In addition, insurance for
the business will be approximately $200 per month and will be paid by direct debit on a monthly
basis. Expensed equipment includes three high-power water pumps, two industrial vacuum
cleaners, two computer terminals, and one cash register. All of the equipment will be depreciated
over three years.
The location was previously used as a quick stop automobile service shop, so it is set up to move
vehicles quickly through the premises, but does not have all the necessary systems in place to
host a car wash and detail facility. The services of a contracting company will be sought to
convert the use of the facility and to improve the customer waiting room facilities.
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Table: Start-up
Start-up
Requirements
Start-up Expenses
Legal $500
Stationery etc. $400
Brochures $450
Consultants $0
Insurance $200
Rent $1,200
Research and Development $300
Expensed Equipment $4,100
Signs $700
Building Materials $1,200
Building Labor $1,000
Total Start-up Expenses $10,050
Start-up Assets
Cash Required $8,700
Start-up Inventory $250
Other Current Assets $1,000
Long-term Assets $10,000
Total Assets $19,950
Total Requirements $30,000
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Table: Start-up Funding
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Start-up Funding
Start-up Expenses to Fund $10,050
Start-up Assets to Fund $19,950
Total Funding Required $30,000
Assets
Non-cash Assets from Start-up $11,250
Cash Requirements from Start-up $8,700
Additional Cash Raised $0
Cash Balance on Starting Date $8,700
Total Assets $19,950
Liabilities and Capital
Liabilities
Current Borrowing $0
Long-term Liabilities $0
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Total Liabilities $0
Capital
Planned Investment
Investor 1 $30,000
Investor 2 $0
Other $0
Additional Investment Requirement $0
Total Planned Investment $30,000
Loss at Start-up (Start-up Expenses) ($10,050)
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Total Capital $19,950
Total Capital and Liabilities $19,950
Total Funding $30,000
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Soapy Rides
Chart: Start-up
Start-up
$30,000
$27,000
$24,000
$21,000
$18,000
$15,000
$12,000
$9,000
$6,000
$3,000
$0
Expenses Assets Investment Loans
Services
Soapy Rides will provide three services to its customers:
• Car washing (exterior)

• Car cleaning (interior)
• Car detailing
Market Analysis Summary

The car wash will be based in East Meadow, New York. This area has a number of benefits in
terms of the market that it will provide for the business. Over 40% of households in the
immediate neighborhood earn over $70,000 annually. Many people in the neighborhood own
and/or lease new cars and place great value on their cars and how they look. There are a large
number of car dealerships in the area--five within three miles of the proposed location for Soapy
Rides.
Market Segmentation
Soapy Rides segments its customers by type of car ownership. We believe that the type of car
that a person owns says volumes about their driving, and, therefore their car washing and
detailing requirements.
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• New car owners: Owners of newer cars are most likely to use a hand car washing
service. These owners take great pride in their cars and will bring them often to the wash
and detail service. The goal with these customers is to promote regular use of the wash
and detail service. The aim is to inform these customers that Soapy Rides will keep their
car looking as good as it did the day they drove it off the lot.
• Older luxury car owners: These people have either owned their high-end luxury cars for
several years or are unable to afford the expense of a new luxury car but want the feel of
relaxed driving. Both of these groups want to keep their cars in the best shape possible.
Those who have bought second-hand cars will often spend many hours in their cars and
will place high importance on keeping their cars looking good. These owners will bring
their cars in for regular washes and occasional details.
• Sports car owners: These people are often younger or middle-aged men and will
regard the look of their car as important. They will also pride themselves on the look of
their car and will have their car hand washed (at least) weekly. These drivers will have
an occasional detail, but will keep their cars so clean the detail will not be necessary very
often.
• Lifetime owners: Many of these people have owned their cars for more than five or six
years, and are more likely to be women. They are attached to their cars as friends and
though it may be more sensible for them to purchase a new car, they will bring their car
in for a wash occassionally, just when the car is dirty. They like their cars to look
presentable, and want to keep it in good shape but are not tied up in the look of their car.
For this reason, they will not have a detail carried out on their car unless they are selling
it.
• Dealerships: There are five new and used car dealerships within three miles of the
proposed location of Soapy Rides. These dealerships often use outside car wash services
to detail their vehicles before they are put up for sale. In addition, there are fifteen other
car dealerships within a seven mile radius of Soapy Rides.
• Local businesses: Some local businesses have fleets of cars and small vans that must be
kept clean to maintain their company image. These businesses will be looking for a cost
effective, efficient car washing service to perform this service, and will prefer to use a car
wash service during the week rather than during weekends, like the general public.
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Chart: Market Analysis (Pie)
Market Analysis (Pie)
New Car Owners
Older Luxury Car Owners
Sports Car Owners
Lifetime Owners
New and Used Car Dealerships
Table: Market Analysis
Market Analysis
Year 1 Year 2 Year 3 Year 4 Year 5
Potential Growth CAGR
Customers
New Car Owners 10% 7,200 7,920 8,712 9,583 10,541 10.00%
Older Luxury 15% 12,500 14,375 16,531 19,011 21,863 15.00%
Car Owners
Sports Car 15% 6,500 7,475 8,596 9,885 11,368 15.00%
Owners
Lifetime Owners 10% 17,000 18,700 20,570 22,627 24,890 10.00%
New and Used 7% 9 10 11 12 13 9.63%
Car Dealerships
Total 12.28% 43,209 48,480 54,420 61,118 68,675 12.28%
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Target Market Segment Strategy

The strategy behind Soapy Rides target segmentation is to attract customers who will be repeat
users and will frequent the business in the typically quiet times for a car wash business. It will
not be difficult to attract customers during the summer months and on the weekends, the
weekdays however, especially in the winter, people will not think about having their cars
washed. For this reason, Soapy Rides will target people who will tend not to be restricted to
these busy times.
• Business owners (new car owners) tend to be very busy people, but are often able to
make their own hours.
• Retired people (older luxury car owners) are not restricted by typical work schedules so
will be able to frequent the car wash during the week.
• Dealerships will need cars detailed and washed regardless of the time of the day and
week. This will supply a constant flow of traffic.
• Businesses will need their fleet cars washed during the week during regular business
hours.
Service Business Analysis

The hand car washing business in East Meadow consists of many small competitors. Everything
from local children raising money for their youth group on a Saturday by cleaning cars, to
the automatic car wash machines, are competition for Soapy Rides. However, these two
alternatives aim to meet the needs of the price-conscious individuals who are choosing the
service simply so they do not have to clean the car themselves. Soapy Rides on the other hand,
targets the quality-conscious individuals who value their car enough to spend $10-$15 per week
to make it look good.
Competition and Buying Patterns

Competition
There is one other hand car wash shop in East Meadow. It is quite new and is trying to compete
with automatic car washes by offering low prices. However, it is not targeting the customers who
seek quality cleaning.
Buying Patterns
The customers who Soapy Rides is targeting have their cars washed based on the quality of the
job. They do not mind spending a little more each week to have their car washed and waxed in
order to keep the paint work in excellent shape. The businesses that Soapy Rides targets will be
more cost conscious, so prices will be approximately 30% less for these customers to promote
volume usage.
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Strategy and Implementation Summary

The key differentiator for Soapy Rides Car Wash is Mark Deshpande and his business and
personal connections within the East Meadow neighborhood. For this reason, the sales and
marketing focus will be on a one-to-one basis, with the emphasis on gaining loyal and repeat
customers as "friends" of the business. Soapy Rides, therefore, will depend on word-of-mouth
advertising for the immediate community.
Competitive Edge
Soapy Rides' competitive edge will be Mark Deshpande and the quality of the family name in the
East Meadow area. As mentioned, the family has been in the car business for over 30 years, and
has an excellent reputation and a myriad of both business and personal contacts. In addition,
Mark has put a great deal of emphasis on creating a system that is both fast and efficient, which
will keep costs, in terms of time spent per car, to a minimum.
Sales Strategy
Sales strategy is on a one-to-one basis. All customers will feel they are a valued friend of Soapy
Rides, and that all employees care about the care and upkeep of each vehicle. We must be aware
that there are low switching costs in the car washing industry, so we have to work hard to
develop and keep repeat customers.
Sales Forecast
The following chart forecasts sales based upon the Market Segmentation Strategy. Sales are
seasonal in this industry, tending to be higher in the warmer summer months, and to drop off in
the winter. However, we will aim to flatten sales across the sales cycle by targeting segments that
will want to keep their cars clean and looking good year round.
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Chart: Sales by Year
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Table: Sales Forecast
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Sales Forecast
Unit Sales
Full Wash 1,760 2,288 2,974
Exterior Wash 2,050 2,665 3,465
Interior Clean 770 1,001 1,301
End User Detail 129 193 290
Business Fleet Washes 615 923 1,384
Car Dealership Details 494 642 963
Total Unit Sales 5,818 7,712 10,376
Unit Prices Year 1 Year 2 Year 3

Full Wash $15.00 $15.00 $15.00
Exterior Wash $9.00 $10.00 $12.00
Interior Clean $8.00 $9.00 $9.00
End User Detail $140.00 $145.00 $150.00
Business Fleet Washes $10.00 $10.00 $10.00
Car Dealership Details $70.00 $75.00 $80.00
Sales
Full Wash $26,400 $34,320 $44,616
Exterior Wash $18,450 $26,650 $41,574
Interior Clean $6,160 $9,009 $11,712
End User Detail $18,060 $27,985 $43,425
Business Fleet Washes $6,150 $9,225 $13,838
Car Dealership Details $34,580 $48,150 $77,040
Total Sales $109,800 $155,339 $232,204
Direct Unit Costs Year 1 Year 2 Year 3

Full Wash $0.70 $0.80 $0.90
Exterior Wash $0.40 $0.45 $0.50
Interior Clean $0.30 $0.35 $0.40
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End User Detail $3.00 $3.50 $4.00

Business Fleet Washes $0.70 $0.75 $0.80
Car Dealership Details $3.00 $3.50 $4.00
Direct Cost of Sales

Full Wash $1,232 $1,830 $2,677
Exterior Wash $820 $1,199 $1,732
Interior Clean $231 $350 $521
End User Detail $387 $676 $1,158
Business Fleet Washes $431 $692 $1,107
Car Dealership Details $1,482 $2,247 $3,852
Subtotal Direct Cost of Sales $4,583 $6,994 $11,047
Chart: Sales Monthly
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Milestones
The following table outlines the important milestones in the planning and implementation of
Soapy Rides.
Chart: Milestones
Milestones
Complete Business Plan
Sign Rental Contract
Convert Premises
Hire Car Wash Staff
Hire Admin Staff
Open for Business
Distribute Flyers
Press Release
Follow -up on Press Release
Feb `01 Mar Apr
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Table: Milestones
Milestones
Milestone Start Date End Date Budget Manager Department

Complete 2/1/2001 5/1/2001 $0 ABC Department
Business Plan
Sign Rental 3/20/2001 3/20/2001 $475 Mark Owner
Contract
Convert Premises 4/1/2001 4/30/2001 $0 Contractors Contractors
Hire Car Wash 4/20/2001 4/20/2001 $200 Mark Owner
Staff
Hire Admin Staff 4/20/2001 4/20/2001 $200 Mark Owner
Open for 5/1/2001 5/1/2001 $0 Staff Staff
Business
Distribute Flyers 4/28/2001 5/5/2001 $75 Friends Friends
Press Release 4/29/2001 4/29/2001 $25 Mark Owner
Follow-up on 4/30/2001 4/30/2001 $0 Mark Owner
Press Release
Totals $975
Management
Mark Deshpande is the sole owner and manager of Soapy Rides. In addition, he will be helped
(on an unofficial basis) by his father, Barry Deshpande. Barry has over 30 years experience as an
entrepreneur, both in the car business and in property development and management.
Mark will also have the assistance of John Shine, the family accountant, in creating a long-term
strategic vision for the company. John is a family friend and has worked with the Deshpande
family for 23 years. He has worked with hundreds of small- and medium-sized businesses during
his career.
Personnel Plan
Since car washing is a seasonal business, with business increasing in the warm summer months,
and being busier on the weekends than during the week, Soapy Rides will rely on both temporary
and part-time help. The company will hire one full-time car wash/detail specialist and one full-
time car wash specialist when it opens for business. Although it will rely on temporary and part-
time help, quality will not be compromised, since all washers and detailers will receive thorough
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training. The company will also hire an administrative assistant who will assist Mark with
paperwork and act as a receptionist.
Table: Personnel
Personnel Plan
Owner $18,000 $30,000 $40,000
Car Washers $30,240 $43,312 $51,174
Admin/Sales $13,440 $15,000 $22,000
Total People 0 0 0
Total Payroll $61,680 $88,312 $113,174
Financial Plan
The following plan outlines the financial development of Soapy Rides. The business will be
initially financed by a personal investment by Mark Deshpande and will finance growth through
cash flow. This will mean that the company will grow more slowly than it could, but it will
ensure that Mark retains control over the direction of the company. In year three, it is hoped that
the company will be able to open a second location. It is envisioned that an outside loan or equity
funding will be sought at that time.
Important Assumptions
The financial projections for Soapy Rides are based on the following assumptions. These
assumptions are thought to be quite conservative, as are the financial forecasts.
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Table: General Assumptions
General Assumptions
Plan Month 1 2 3
Current Interest Rate 10.00% 10.00% 10.00%
Long-term Interest Rate 10.00% 10.00% 10.00%
Tax Rate 25.42% 25.00% 25.42%
Other 0 0 0
Projected Cash Flow

The following Cash Flow table illustrates that if Soapy Rides meets projected sales, it will have
positive cash flow after half a year of operations.
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Table: Cash Flow
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Pro Forma Cash Flow

Cash Received
Cash from Operations

Cash Sales $93,330 $132,038 $197,374
Cash from Receivables $13,097 $21,902 $32,470
Subtotal Cash from Operations $106,427 $153,940 $229,843
Additional Cash Received

Sales Tax, VAT, HST/GST Received $0 $0 $0
New Current Borrowing $0 $0 $0
New Other Liabilities (interest-free) $0 $0 $0
New Long-term Liabilities $0 $0 $0
Sales of Other Current Assets $0 $0 $0
Sales of Long-term Assets $0 $0 $0
New Investment Received $0 $0 $0
Subtotal Cash Received $106,427 $153,940 $229,843
Expenditures Year 1 Year 2 Year 3
Expenditures from Operations

Cash Spending $61,680 $88,312 $113,174
Bill Payments $33,052 $47,699 $68,418
Subtotal Spent on Operations $94,732 $136,011 $181,592
Additional Cash Spent

Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
Principal Repayment of Current $0 $0 $0
Borrowing
Other Liabilities Principal Repayment $0 $0 $0
Long-term Liabilities Principal $0 $0 $0
Repayment
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Purchase Other Current Assets $0 $0 $0

Purchase Long-term Assets $0 $0 $0
Dividends $0 $0 $0
Subtotal Cash Spent $94,732 $136,011 $181,592
Net Cash Flow $11,695 $17,929 $48,251

Cash Balance $20,395 $38,324 $86,575
Chart: Cash
Break-even Analysis
The table and chart below show the monthly break-even analysis calculations for Soapy Rides.
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Chart: Break-even Analysis
Break-even Analysis
$6,000
$4,000
$2,000
$0
($2,000)
($4,000)
($6,000)
0 70 140 210 280 350 420 490 560 630 700 770
Table: Break-even Analysis
Break-even Analysis
Monthly Units Break-even 423

Monthly Revenue Break-even $7,974
Assumptions:
Average Per-Unit Revenue $18.87
Average Per-Unit Variable Cost $0.79
Estimated Monthly Fixed Cost $7,641
Projected Profit and Loss

The following Profit and Loss table illustrates income and expenses monthly for the first year,
and annually for the next two years.
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Chart: Profit Monthly
Profit Monthly
$3,000
$2,000
$1,000
$0
($1,000)
($2,000)
Month 1 Month 3 Month 5 Month 7 Month 9 Month 11

Chart: Profit Yearly
Profit Yearly
$50,000
$45,000
$40,000
$35,000
$30,000
$25,000
$20,000
$15,000
$10,000
$5,000
$0
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Chart: Gross Margin Monthly
Gross Margin Monthly

$12,000
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Chart: Gross Margin Yearly
Gross Margin Yearly
$210,000
$180,000
$150,000
$120,000
$90,000
$60,000
$30,000
$0
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Table: Profit and Loss
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Pro Forma Profit and Loss

Sales $109,800 $155,339 $232,204
Direct Cost of Sales $4,583 $6,994 $11,047
Other $0 $0 $0
Total Cost of Sales $4,583 $6,994 $11,047
Gross Margin $105,218 $148,345 $221,157

Gross Margin % 95.83% 95.50% 95.24%
Expenses
Payroll $61,680 $88,312 $113,174
Sales and Marketing and Other $2,600 $1,550 $1,700
Expenses
Depreciation $2,070 $2,070 $2,070
Leased Equipment $0 $0 $0
Utilities $3,325 $3,500 $3,750
Insurance $1,800 $1,800 $1,800
Rent $4,800 $5,500 $6,000
Payroll Taxes $15,420 $22,078 $28,294
Other $0 $0 $0
Total Operating Expenses $91,695 $124,810 $156,788
Profit Before Interest and Taxes $13,523 $23,535 $64,370

EBITDA $15,592 $25,605 $66,440
Interest Expense $0 $0 $0
Taxes Incurred $3,204 $5,884 $16,361
Net Profit $10,318 $17,651 $48,009

Net Profit/Sales 9.40% 11.36% 20.68%
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Soapy Rides
Projected Balance Sheet

Soapy Rides' balance sheet illustrates a healthy financial position for this new company. The
monthly estimates are included in the appendix.
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of the plan author.
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Table: Balance Sheet
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of the plan author.
Soapy Rides
Pro Forma Balance Sheet

Assets
Current Assets
Cash $20,395 $38,324 $86,575
Accounts Receivable $3,373 $4,772 $7,133
Inventory $668 $1,958 $3,200
Other Current Assets $1,000 $1,000 $1,000
Total Current Assets $25,435 $46,054 $97,908
Long-term Assets
Long-term Assets $10,000 $10,000 $10,000
Accumulated Depreciation $2,070 $4,140 $6,210
Total Long-term Assets $7,930 $5,860 $3,790
Total Assets $33,365 $51,914 $101,698
Liabilities and Capital Year 1 Year 2 Year 3
Current Liabilities
Accounts Payable $3,097 $3,994 $5,769
Current Borrowing $0 $0 $0
Other Current Liabilities $0 $0 $0
Subtotal Current Liabilities $3,097 $3,994 $5,769
Long-term Liabilities $0 $0 $0
Total Liabilities $3,097 $3,994 $5,769
Paid-in Capital $30,000 $30,000 $30,000

Retained Earnings ($10,050) $268 $17,919
Earnings $10,318 $17,651 $48,009
Total Capital $30,268 $47,919 $95,929
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Total Liabilities and Capital $33,365 $51,914 $101,698
Net Worth $30,268 $47,919 $95,929
Business Ratios
The following table contains important ratios for the car wash industry, as determined by the
Standard Industry Classification (SIC) code, 7542.
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of the plan author.
Soapy Rides
Table: Ratios
32
of the plan author.
Soapy Rides
Ratio Analysis
Year 1 Year 2 Year 3 Industry
Profile
Sales Growth n.a. 41.47% 49.48% 3.00%
Percent of Total Assets

Accounts Receivable 10.11% 9.19% 7.01% 8.70%
Inventory 2.00% 3.77% 3.15% 9.50%
Other Current Assets 3.00% 1.93% 0.98% 26.40%
Total Current Assets 76.23% 88.71% 96.27% 44.60%
Long-term Assets 23.77% 11.29% 3.73% 55.40%
Total Assets 100.00% 100.00% 100.00% 100.00%
Current Liabilities 9.28% 7.69% 5.67% 29.30%

Long-term Liabilities 0.00% 0.00% 0.00% 27.80%
Total Liabilities 9.28% 7.69% 5.67% 57.10%
Net Worth 90.72% 92.31% 94.33% 42.90%
Percent of Sales
Sales 100.00% 100.00% 100.00% 100.00%
Gross Margin 95.83% 95.50% 95.24% 0.00%
Selling, General & 86.59% 84.13% 74.45% 68.20%
Administrative Expenses
Advertising Expenses 0.91% 0.74% 0.56% 1.50%
Profit Before Interest and Taxes 12.32% 15.15% 27.72% 2.70%
Main Ratios
Current 8.21 11.53 16.97 1.53
Quick 8.00 11.04 16.42 0.88
Total Debt to Total Assets 9.28% 7.69% 5.67% 57.10%
Pre-tax Return on Net Worth 44.68% 49.11% 67.10% 3.40%
Pre-tax Return on Assets 40.53% 45.33% 63.30% 8.00%
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Additional Ratios Year 1 Year 2 Year 3

Net Profit Margin 9.40% 11.36% 20.68% n.a
Return on Equity 34.09% 36.83% 50.05% n.a
Activity Ratios
Accounts Receivable Turnover 4.88 4.88 4.88 n.a
Collection Days 57 64 62 n.a
Inventory Turnover 5.45 5.33 4.28 n.a
Accounts Payable Turnover 11.67 12.17 12.17 n.a
Payment Days 27 27 25 n.a
Total Asset Turnover 3.29 2.99 2.28 n.a
Debt Ratios
Debt to Net Worth 0.10 0.08 0.06 n.a
Current Liab. to Liab. 1.00 1.00 1.00 n.a
Liquidity Ratios
Net Working Capital $22,338 $42,059 $92,139 n.a
Interest Coverage 0.00 0.00 0.00 n.a
Additional Ratios
Assets to Sales 0.30 0.33 0.44 n.a
Current Debt/Total Assets 9% 8% 6% n.a
Acid Test 6.91 9.85 15.18 n.a
Sales/Net Worth 3.63 3.24 2.42 n.a
Dividend Payout 0.00 0.00 0.00 n.a
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Appendix
Table: Sales Forecast
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Sales Forecast
Month Month Month Month Month Month Month Month Month Month Month Month
1 2 3 4 5 6 7 8 9 10 11 12
Unit Sales
Full Wash 0% 90 130 170 190 190 185 135 135 120 120 140 155
Exterior Wash 0% 90 130 185 220 230 220 180 170 150 150 160 165
Interior Clean 0% 40 50 50 55 60 65 70 80 80 85 75 60
End User Detail 0% 3 5 7 10 12 12 14 9 11 14 15 17
Business Fleet Washes 0% 25 40 55 60 60 55 55 55 55 50 50 55
Car Dealership Details 0% 15 17 20 26 32 40 56 45 56 60 60 67
Total Unit Sales 263 372 487 561 584 577 510 494 472 479 500 519
Unit Prices Month Month Month Month Month Month Month Month Month Month Month Month
1 2 3 4 5 6 7 8 9 10 11 12
Full Wash $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00
Exterior Wash $9.00 $9.00 $9.00 $9.00 $9.00 $9.00 $9.00 $9.00 $9.00 $9.00 $9.00 $9.00
Interior Clean $8.00 $8.00 $8.00 $8.00 $8.00 $8.00 $8.00 $8.00 $8.00 $8.00 $8.00 $8.00
End User Detail $140.00 $140.00 $140.00 $140.00 $140.00 $140.00 $140.00 $140.00 $140.00 $140.00 $140.00 $140.00
Business Fleet Washes $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00
Car Dealership Details $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00 $70.00
Sales
Full Wash $1,350 $1,950 $2,550 $2,850 $2,850 $2,775 $2,025 $2,025 $1,800 $1,800 $2,100 $2,325
Exterior Wash $810 $1,170 $1,665 $1,980 $2,070 $1,980 $1,620 $1,530 $1,350 $1,350 $1,440 $1,485
Interior Clean $320 $400 $400 $440 $480 $520 $560 $640 $640 $680 $600 $480
End User Detail $420 $700 $980 $1,400 $1,680 $1,680 $1,960 $1,260 $1,540 $1,960 $2,100 $2,380
Business Fleet Washes $250 $400 $550 $600 $600 $550 $550 $550 $550 $500 $500 $550
Car Dealership Details $1,050 $1,190 $1,400 $1,820 $2,240 $2,800 $3,920 $3,150 $3,920 $4,200 $4,200 $4,690
Total Sales $4,200 $5,810 $7,545 $9,090 $9,920 $10,305 $10,635 $9,155 $9,800 $10,490 $10,940 $11,910
Direct Unit Costs Month Month Month Month Month Month Month Month Month Month Month Month
1 2 3 4 5 6 7 8 9 10 11 12
Full Wash 0.00% $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70
Exterior Wash 0.00% $0.40 $0.40 $0.40 $0.40 $0.40 $0.40 $0.40 $0.40 $0.40 $0.40 $0.40 $0.40
Interior Clean 0.00% $0.30 $0.30 $0.30 $0.30 $0.30 $0.30 $0.30 $0.30 $0.30 $0.30 $0.30 $0.30
End User Detail 0.00% $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00
Business Fleet Washes 0.00% $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70 $0.70
Car Dealership Details 0.00% $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00 $3.00
Direct Cost of Sales
Full Wash $63 $91 $119 $133 $133 $130 $95 $95 $84 $84 $98 $109
Exterior Wash $36 $52 $74 $88 $92 $88 $72 $68 $60 $60 $64 $66
Interior Clean $12 $15 $15 $17 $18 $20 $21 $24 $24 $26 $23 $18
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End User Detail $9 $15 $21 $30 $36 $36 $42 $27 $33 $42 $45 $51
Business Fleet Washes $18 $28 $39 $42 $42 $39 $39 $39 $39 $35 $35 $39
Car Dealership Details $45 $51 $60 $78 $96 $120 $168 $135 $168 $180 $180 $201
Subtotal Direct Cost of $183 $252 $328 $388 $417 $432 $436 $387 $408 $427 $445 $483
Sales
Table: Personnel
Personnel Plan
Mont Mont Mont Mont Mont Mont Mont Mont Mont Mont Mont Mont
h1 h2 h3 h4 h5 h6 h7 h8 h9 h 10 h 11 h 12
Owner 0% $1,50 $1,50 $1,50 $1,50 $1,50 $1,50 $1,50 $1,50 $1,50 $1,50 $1,50 $1,50
0 0 0 0 0 0 0 0 0 0 0 0
Car Washers 0% $2,24 $2,24 $3,36 $3,36 $3,36 $2,24 $2,24 $2,24 $2,24 $2,24 $2,24 $2,24
0 0 0 0 0 0 0 0 0 0 0 0
Admin/Sales 0% $1,12 $1,12 $1,12 $1,12 $1,12 $1,12 $1,12 $1,12 $1,12 $1,12 $1,12 $1,12
0 0 0 0 0 0 0 0 0 0 0 0
Total People 0 0 0 0 0 0 0 0 0 0 0 0
Total Payroll $4,86 $4,86 $5,98 $5,98 $5,98 $4,86 $4,86 $4,86 $4,86 $4,86 $4,86 $4,86
0 0 0 0 0 0 0 0 0 0 0 0
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iii
Soapy Rides
Table: General Assumptions
General
Assumptions
1 2 3 4 5 6 7 8 9 10 11 12
Plan Month 1 2 3 4 5 6 7 8 9 10 11 12
Current 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
Interest Rate % % % % % % % % % % % %
Long-term 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00
Interest Rate % % % % % % % % % % % %
Tax Rate 30.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00 25.00
% % % % % % % % % % % %
Other 0 0 0 0 0 0 0 0 0 0 0 0
a professional modern design.
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Soapy Rides
Table: Profit and Loss
Pro Forma Profit and

Loss
Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 Month 8 Month 9 Month Month Month
10 11 12
Sales $4,200 $5,810 $7,545 $9,090 $9,920 $10,305 $10,635 $9,155 $9,800 $10,490 $10,940 $11,910
Direct Cost of Sales $183 $252 $328 $388 $417 $432 $436 $387 $408 $427 $445 $483
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Cost of Sales $183 $252 $328 $388 $417 $432 $436 $387 $408 $427 $445 $483
Gross Margin $4,018 $5,558 $7,218 $8,703 $9,503 $9,874 $10,199 $8,768 $9,393 $10,064 $10,496 $11,427
Gross Margin % 95.65% 95.66% 95.66% 95.74% 95.80% 95.81% 95.90% 95.77% 95.84% 95.93% 95.94% 95.94%
Expenses
Payroll $4,860 $4,860 $5,980 $5,980 $5,980 $4,860 $4,860 $4,860 $4,860 $4,860 $4,860 $4,860
Sales and Marketing $500 $300 $300 $300 $300 $100 $100 $100 $300 $100 $100 $100
and Other Expenses
Depreciation $172 $172 $172 $172 $172 $172 $172 $172 $172 $172 $172 $172
Leased Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Utilities $250 $275 $300 $300 $300 $275 $275 $275 $275 $275 $250 $275
Insurance $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150 $150
Rent $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400 $400
Payroll Taxes 25% $1,215 $1,215 $1,495 $1,495 $1,495 $1,215 $1,215 $1,215 $1,215 $1,215 $1,215 $1,215
Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Operating $7,547 $7,372 $8,797 $8,797 $8,797 $7,172 $7,172 $7,172 $7,372 $7,172 $7,147 $7,172
Expenses
Profit Before Interest ($3,530) ($1,814) ($1,580) ($95) $706 $2,701 $3,027 $1,596 $2,020 $2,891 $3,348 $4,255
and Taxes
EBITDA ($3,358) ($1,642) ($1,407) $78 $878 $2,874 $3,199 $1,768 $2,193 $3,064 $3,521 $4,427
Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Taxes Incurred ($1,059) ($454) ($395) ($24) $176 $675 $757 $399 $505 $723 $837 $1,064
Net Profit ($2,471) ($1,361) ($1,185) ($71) $529 $2,026 $2,270 $1,197 $1,515 $2,168 $2,511 $3,191
Net Profit/Sales -58.83% -23.42% -15.71% -0.78% 5.33% 19.66% 21.34% 13.07% 15.46% 20.67% 22.95% 26.79%
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Table: Cash Flow
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Pro Forma Cash Flow
1 2 3 4 5 6 7 8 9 10 11 12
Cash Received
Cash from Operations
Cash Sales $3,570 $4,939 $6,413 $7,727 $8,432 $8,759 $9,040 $7,782 $8,330 $8,917 $9,299 $10,12
4
Cash from Receivables $0 $21 $638 $880 $1,139 $1,368 $1,490 $1,547 $1,588 $1,376 $1,473 $1,576
Subtotal Cash from $3,570 $4,960 $7,051 $8,607 $9,571 $10,12 $10,53 $9,329 $9,918 $10,29 $10,77 $11,69
Operations 7 0 3 2 9
Additional Cash Received
Sales Tax, VAT, HST/GST 0.00% $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Received
New Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Other Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

(interest-free)
New Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Sales of Other Current $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Assets
Sales of Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
New Investment Received $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Received $3,570 $4,960 $7,051 $8,607 $9,571 $10,12 $10,53 $9,329 $9,918 $10,29 $10,77 $11,69
7 0 3 2 9
Expenditures Month Month Month Month Month Month Month Month Month Month Month Month
1 2 3 4 5 6 7 8 9 10 11 12
Expenditures from
Operations
Cash Spending $4,860 $4,860 $5,980 $5,980 $5,980 $4,860 $4,860 $4,860 $4,860 $4,860 $4,860 $4,860
Bill Payments $82 $2,437 $1,898 $2,296 $3,595 $2,855 $3,785 $2,885 $2,582 $3,812 $2,899 $3,927
Subtotal Spent on $4,942 $7,297 $7,878 $8,276 $9,575 $7,715 $8,645 $7,745 $7,442 $8,672 $7,759 $8,787
Operations
Additional Cash Spent
Sales Tax, VAT, HST/GST $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Paid Out
Principal Repayment of $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Current Borrowing
Other Liabilities Principal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Repayment
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Principal Repayment
Purchase Other Current $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Assets
Purchase Long-term Assets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Dividends $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Cash Spent $4,942 $7,297 $7,878 $8,276 $9,575 $7,715 $8,645 $7,745 $7,442 $8,672 $7,759 $8,787
Net Cash Flow ($1,372 ($2,338 ($827) $331 ($3) $2,412 $1,885 $1,584 $2,475 $1,621 $3,013 $2,912
) )
Cash Balance $7,328 $4,991 $4,163 $4,494 $4,491 $6,904 $8,789 $10,37 $12,84 $14,46 $17,48 $20,39
3 9 9 3 5
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Pro Forma Balance Sheet
1 2 3 4 5 6 7 8 9 10 11 12
Assets Starting
Balances
Current Assets
Cash $8,700 $7,328 $4,991 $4,163 $4,494 $4,491 $6,904 $8,789 $10,373 $12,849 $14,469 $17,483 $20,395
Accounts Receivable $0 $630 $1,481 $1,974 $2,458 $2,806 $2,984 $3,089 $2,915 $2,797 $2,994 $3,162 $3,373
Inventory $250 $1,068 $816 $488 $1,101 $684 $1,252 $816 $429 $1,022 $595 $1,151 $668
Other Current Assets $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000 $1,000
Total Current Assets $9,950 $10,026 $8,287 $7,626 $9,052 $8,981 $12,140 $13,694 $14,717 $17,668 $19,059 $22,795 $25,435
Long-term Assets
Long-term Assets $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000 $10,000
Accumulated $0 $172 $345 $517 $690 $862 $1,035 $1,207 $1,380 $1,552 $1,725 $1,897 $2,070
Depreciation
Total Long-term Assets $10,000 $9,828 $9,655 $9,483 $9,310 $9,138 $8,965 $8,793 $8,620 $8,448 $8,275 $8,103 $7,930
Total Assets $19,950 $19,853 $17,942 $17,108 $18,362 $18,118 $21,105 $22,487 $23,338 $26,115 $27,334 $30,898 $33,365
Liabilities and Capital Month Month Month Month Month Month Month Month Month Month Month Month
1 2 3 4 5 6 7 8 9 10 11 12
Current Liabilities
Accounts Payable $0 $2,374 $1,823 $2,175 $3,501 $2,727 $3,688 $2,800 $2,454 $3,717 $2,767 $3,820 $3,097
Current Borrowing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Other Current Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Subtotal Current $0 $2,374 $1,823 $2,175 $3,501 $2,727 $3,688 $2,800 $2,454 $3,717 $2,767 $3,820 $3,097
Liabilities
Long-term Liabilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
Total Liabilities $0 $2,374 $1,823 $2,175 $3,501 $2,727 $3,688 $2,800 $2,454 $3,717 $2,767 $3,820 $3,097
Paid-in Capital $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000 $30,000
Retained Earnings ($10,050) ($10,05 ($10,05 ($10,05 ($10,05 ($10,05 ($10,05 ($10,05 ($10,05 ($10,05 ($10,05 ($10,05 ($10,05
0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0) 0)
Earnings $0 ($2,471) ($3,832) ($5,017) ($5,088) ($4,559) ($2,533) ($263) $933 $2,448 $4,617 $7,128 $10,318
Total Capital $19,950 $17,479 $16,118 $14,933 $14,862 $15,391 $17,417 $19,687 $20,883 $22,398 $24,567 $27,078 $30,268
Total Liabilities and $19,950 $19,853 $17,942 $17,108 $18,362 $18,118 $21,105 $22,487 $23,338 $26,115 $27,334 $30,898 $33,365
Capital
Net Worth $19,950 $17,479 $16,118 $14,933 $14,862 $15,391 $17,417 $19,687 $20,883 $22,398 $24,567 $27,078 $30,268
Table: Balance Sheet
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Open Car Wash Business Plan

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CONFIDENTIAL

Market Analysis Summary ...........................................................................................................7

Table: Break-even Analysis ........................................................................................................23

Table: Sales Forecast ......................................................................................................................i

Table: Personnel ...........................................................................................................................iii

Table: General Assumptions ........................................................................................................iv

Table: Profit and Loss ...................................................................................................................v

Table: Cash Flow ..........................................................................................................................vi

Table: Balance Sheet ..................................................................................................................viii

$120,000 Gross Margin

• To be viewed as a premium car wash and detail service in East Meadow.

Total Requirements $30,000

Table: Start-up Funding

Liabilities and Capital

Loss at Start-up (Start-up Expenses) ($10,050)

Total Capital $19,950

Total Capital and Liabilities $19,950

Total Funding $30,000

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• Car washing (exterior)

Market Analysis Summary

Chart: Market Analysis (Pie)

Market Analysis (Pie)

New Car Owners

Older Luxury Car Owners

Sports Car Owners

New and Used Car Dealerships

Table: Market Analysis

Target Market Segment Strategy

Service Business Analysis

Competition and Buying Patterns

Strategy and Implementation Summary

Chart: Sales by Year

Table: Sales Forecast

Unit Prices Year 1 Year 2 Year 3

Direct Unit Costs Year 1 Year 2 Year 3

End User Detail $3.00 $3.50 $4.00

Direct Cost of Sales

Chart: Sales Monthly

Complete Business Plan

Sign Rental Contract

Hire Car Wash Staff

Hire Admin Staff

Open for Business

Follow -up on Press Release

Feb `01 Mar Apr

Milestone Start Date End Date Budget Manager Department

Total Payroll $61,680 $88,312 $113,174

Table: General Assumptions

Projected Cash Flow

Table: Cash Flow

Pro Forma Cash Flow

Cash from Operations

Additional Cash Received

Expenditures Year 1 Year 2 Year 3

Expenditures from Operations