Reading your financial reports at least monthly is crucial to running a profitable business. These reports tell your car wash’s story – is it growing, failing, or just holding steady? Each line item plays a role, holding promise or pitfalls.
You need tailored, industry-specific reporting and the right metrics to maximize growth of your enterprise value (EV) and identify problems before they grow out of control.
SBS Accounting & Advisors has developed reports just for car washes.
Beyond combing over the details, though (there is money in those details!), you should zoom out and keep track of your wash’s EV. Why?
First, mergers and acquisitions are happening in our industry. If you’re considering selling at some point down the road, you should know your wash’s value now. Don’t wait until you go to market to determine your business’ worth.
Second, even if you plan to hold on to your wash, you still need to know your valuation. The EV is important in a variety of situations, for example when you are buying insurance or want to acquire financing.
Third, regularly monitoring EV assesses your wash’s overall health. Think of it as your business’ heart rate or blood pressure – it’s a vital sign as to whether you’re moving forward or backwards. Even if you’re just doing average, you may be missing opportunities to grow your wealth.
We have multiple valuation methods specific to the car wash industry, calculated from your financial reports. We can help you track your company’s EV on a monthly or quarterly basis.
SBS Accounting & Advisors has been helping small businesses for 16 years. We understand the daily challenges of running a small business because we’re a small business too.
We have an easy 3-step process to get your business quickly up and running with efficient, state of the art bookkeeping.
Call us at 800-381-2989 or email us at info@sbsaccountants.com today to set up a free, 30-minute consultation. You can also set up your free, 30-minute call by clicking here: https://calendly.com/sbs_jbill/discovery.
Don’t stumble your way through financial statements and miss opportunities they hold to maximize your profits! We can interpret your statements and use their data to calculate your wash’s EV.
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