“SBS has allowed us to focus on providing superior service to our customers, while payables, payroll and more are being attended to without worry. The personal attention, accessibility and timeliness of services that SBS provides are invaluable to our confidence in the operation of our business. I have, and will continue to recommend SBS.” – David Danhof, principal owner of Car-Nutz Car Wash, in Acworth, Ga.

For many car wash owners, 2020 has been the most challenging year to date. Some have shut down, been forced to cut back, or just now starting to reopen and refuel their businesses. While no one could have braced for this unprecedented COVID-19, there are tools and strategies car washes can put in place to survive, and even thrive, through the harshest of pandemics and natural disasters. That’s where we come in at SBS Accounting & Advisors.

For more than a decade, our SBS team has helped car wash owners and operators transform their businesses through powerful solutions that meet their everyday needs. We come up with actionable plans to solve your biggest pain points, such as high costs and overhead, as well as the need to increase your bottom line. We also clean up your books, provide regular accounting and reporting, and even handle payroll. This gives you peace of mind knowing that your back-office bookkeeping and accounting is taken care of, freeing you of the day-to-day stress and allowing you to focus on what you do best: washing cars, being there for your customers and running your business.

You may be thinking that all this sounds good, but also wondering what SBS brings to your business and what we can specifically do for you. To answer these questions, the video below gives a glimpse, but the rest of the article highlights why SBS can take your car wash to the next level.

 

Key Performance Indicators (KPIs)

As car wash owners and operators, you’re often so consumed with the daily grind that you simply don’t have the time to focus on growing your business, or perhaps don’t even think about it. At SBS, we find that many car washes aren’t being given the key information they need on a regular basis to make wise, impactful business decisions. This doesn’t just hold you back from your true potential; it also puts your car wash’s future in jeopardy.

Our team strives to go the extra mile, finding all the important information and data we can to help you grow your business and reach your goals. This all starts with KPIs.

With KPIs, we not only can see how your business is running and what aspects need to be fixed or changed, but also find specific data that helps us deliver powerful solutions to business growth. Just the same as your customers driving away with a clean windshield, KPI reporting provides a vision of the key drivers that decide your company’s success, enabling us to track the key metrics that determine the goals you are trying to reach.

You may be wondering what key metrics we track for car washes. One thing we track is the number of cars washed each month (non-financial data), and then divide total wash revenue per month (financial data) by the number of cars. This blending of financial and non-financial data leads to key information. In determining dollars per car, you’re able to see trends and discover how much you need to upsell to customers to make up for any missed revenue, including premium services and club memberships, for example. Another key metric we track is the number of rainy days in a month, which can be devastating to a car wash business. We then compare those month-to-month and help you plan accordingly.

The metrics above highlight leading-indicator KPIs, but what about lagging-indicator KPIs? One of those is gross profit percentage, which aims to see how much you’re truly making on the work you do. We are able to break down how efficient your company is at delivering its services, tracking by client, job, team, location, and many other areas to determine your strengths and weakness and deliver transparent results.

Other KPIs we track for our clients include client retention rate and employee turnover rate. Getting new customers is always important, but keeping those customers happy for the long run is crucial to long-term growth. This means your staff must be invested and devoted to going the extra mile to please the customer, and represent your cash wash and your brand. In addition, if you’re seeing frequent turnover in your staff, SBS can find out why and come up with strategies to solve this problem.

Cash Flow and Advisory Services 

Another area we are passionate about is cash flow – a must for car wash owners. You’re probably very familiar with high overhead costs and lack of cash on hand that weigh you down. SBS aims to make these difficult realities a thing of the past.

Business owners often believe what’s in their bank is what’s available to spend. This misconception can really hurt you! In reality, you must know your actual cash balance, which includes upcoming payable and receivables. Our SBS team will see where your business stands and turn your data into powerful growth through real solutions.

One of those solutions lies in our new advisory services division, which you can learn more about here. A big part of our advisory services is cash flow management, which allows us to determine your shortfalls – and strategically plan to prevent them. Over time, we can build your cash reserves through the KPI strategy mentioned above, as well as projections and budgeting.

This is just one of the advisory services we offer at SBS. But, the bottom line is that if you neglect cash flow or don’t understand it, the trajectory of your car wash can plummet. That’s because simple, yet common cash flow mistakes can cripple your business. Don’t worry – we’re here to help. Don’t hesitate to reach out to us with any questions.

Getting the Right Plan for You

At SBS, we have three different plans, custom-tailored to fit your budget: The Basics, The Essentials and The Works. Our services are also completely scalable, so as you expand your services, locations or even create franchise opportunities, you can grow without missing a beat. We can manage your bills and receipts, enter and manage your payroll, maintain your books, and provide monthly reporting, while always keeping your data safe and secure.

To see exactly what these three plans encompass, click here. And, if you have any questions, or want to schedule your free evaluation and demo today, don’t hesitate to contact us. You’ll be on your way to less stress and bigger results, while withstanding life’s biggest surprises and challenges.