Scott Caplan turned his sights on the car wash business six years ago, raising a total of $11 millionin two investment rounds that has helped fund the rapid expansion of EverWash with 800 locations across 49 states.
EverWash is growing a network of car washes that provide unlimited washes at locations within the company’s system for a monthly membership fee. Caplan envisions adding 30 new car washes a month in what is a highly fragmented industry owned by mostly mom-and-pop operators. Caplan’s goal is to control 5,000 car washes as quickly as possible.
“When I was looking to get into the car wash space it was to get in on the real estate side,” he said. “I wanted to buy and own a bunch of car washes and create a membership. I come from a brick-and-mortar world.”
The car wash business has turned into a race for the best real estate with multiple companies working to secure prime locations throughout Philadelphia and other metropolitan areas across the country. Retail brokers started to see an uptick in inquires about zoning and available sites about two years ago with it picking up in recent months.
*Article courtesy of Philadelphia Business Journal
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