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What are the trends and themes of the car wash industry as we look toward 2024? What has 2023 shown us about the current market and landscape for car wash owners? As we wrap up our 2023 episodes, we're taking a reflective glance at the insightful discussions that have shaped this year's narrative in the car wash industry. Your host Lanese Barnett reflects on several key conversations she had this year with guests on the podcast.

Lanese looks back at episodes with Amplify founding partner Jeff Pavone and Amplify COO Chris Jenks. Lanese also reflects on conversations with founders of AMP Memberships and Retention Express, two Amplify Ventures partners who are helping to change and enhance the car wash space. Dennis Dreezsen and Adam Trien of AMP Memberships talk with Lanese about the latest advancements with their service, and Bobby Thomson and Michael Pelikan of Retention Express share with Lanese about how Retention Express support car wash owners through their customer service platform.

Listen in to hear Lanese’s thoughts about these conversations and highlights from the interviews as we look back over car wash trends from 2023 and look toward a great year for the industry in 2024.

For a full transcript of the episode and more, check out the post.

Sign up for Car Wash M&A, The Newsletter. | Follow us on social media @AmplifyCarWashAdvisors on LinkedIn or Facebook. | Connect with Lanese on LinkedIn.

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The prompt on the gas pump to buy a car wash isn’t new. In-bay automatic car washes have been a regular add-on to many gas station chains for years, though usually as an intended customer convenience and not a core focus. But things are starting to change, and big-name gas/c-store companies are actively participating in more car wash M&A transactions. Earlier in 2023, we saw the parent company of Circle K acquire True Blue, and recently QuickTrip bought Bubble Bath, both with intentions to keep building their conveyor car wash footprint.

So, what’s driving this shift? In this episode, Lanese Barnett and Jeff Pavone dive into why gas/c-store companies are increasingly interested in the express car wash space - with plenty of dry powder to deploy - and what their presence ultimately means for existing car wash owners in terms of rising competition and current valuations. Lanese and Jeff discuss topics like EVs’ impact on gas stations, synergies in technology solutions throughout the automotive landscape, as well as cross-vertical marketing advantages to encourage brand loyalty.

Listen in as Lanese and Jeff navigate the twists and turns of the car wash industry, bringing you the latest insights and trends to keep you ahead of the curve.

For a full transcript of the episode and more, check out the post.

Sign up for Car Wash M&A, The Newsletter. | Follow us on social media @AmplifyCarWashAdvisors on LinkedIn or Facebook. | Connect with Lanese on LinkedIn.

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Want to know the Amplify team’s key takeaways and market insights gleaned from The Car Wash Show 2023? In this episode, Lanese talks with Amplify COO Chris Jenks about themes and sentiments that emerged from this year’s show in Las Vegas. With the cost of capital high, mergers and acquisitions activity is picking back up as many platforms are adjusting their path to growth. This is good news for car wash owners considering an exit, with inventory currently lower than demand. But as buyers return to the table, they are more sophisticated and looking for well-performing car washes in strong MSA’s.

As the car wash industry evolves, so does its embrace of new technology, especially solutions providers that are bringing tangible benefits to operators and boosting their cash flow by streamlining operations. Lanese and Chris highlight case study examples of how businesses like Amp Ventures partners Retention Express, AMP Memberships, and Merchant Advocate can significantly strengthen operations, customer experience, and the bottom line. Listen in for these key takeaways from The Car Wash Show and how they can improve your business.

For a full transcript of the episode and more, check out the post.

Sign up for Car Wash M&A, The Newsletter. | Follow us on social media @AmplifyCarWashAdvisors on LinkedIn or Facebook. | Connect with Lanese on LinkedIn.

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With Q1 closing out, where is the car wash market today, and is now a good time to sell your car wash? In this episode, Lanese Barnett and Jeff Pavone discuss lingering negative headwinds like bank failures, rising interest rates, and increasing competition, but they also highlight how the car wash industry remains an attractive investment space, and the list of interested buyers continues to grow.

As a matter of fact, there are currently more car wash buyers than there are car wash sellers. And while buyers are taking a more risk-averse approach, they have established their playbook and know what they are looking for. Operators in an A+ location with great execution and a path to continued growth in strong MSAs are still trading at healthy multiples – which is good news for owners considering an exit, especially while inventory is low.

Listen in for more expert insights on the car wash market as well as actionable strategies owners can take to maximize the value of their business.

For a full transcript of the episode and more, check out the post.

Sign up for Car Wash M&A, The Newsletter. | Follow us on social media @AmplifyCarWashAdvisors on LinkedIn or Facebook. | Connect with Lanese on LinkedIn.