If you’ve opened a car wash in the past few years or seen your existing businesses thrive, you might already know that the car wash industry continues to boom. A study by Research and Market featured in Business Wire shows that a number of factors have led Americans to pay for car wash services in recent years when they might not have been willing or able during the recession. The study says low interest rates on vehicle loans, a decrease in gas prices and the desire for drivers to maintain the value of their vehicles has led to an increase in the number of people willing to pay for car wash services.
The study also talks about a trend in recent years that Research and Market called Do-It-For-Me or DIFM. The trend shows that people, especially younger drivers of the Millennial generation, are willing to pay for services they aren’t willing to do themselves. And like the study pointed out, they have a bit more disposable income to play with when they consider upkeep of their vehicles.
The study, titled “The U.S. Car Wash Equipment Market: Size, Trends and Forecasts (2016-2020)” was released earlier this month. The conclusions it draws about the overall health of the car wash industry comes from research into the sale of car wash equipment and its use. The study also points to new environmental laws that make it difficult for drivers to wash their own vehicles at home, or make car washes at eco-friendly businesses more enticing.