Henley’s Car Wash Brand Features In Bloomberg’s Latest Industry Analysis

By February 26, 2024Bloomberg
Aquasonic Brand -$500m Car Wash Real Estate Drive - Henley Investment Management

Henley CEO, Ian Rickwood shares insights with Bloomberg in latest industry analysis of the US car wash.

In the bustling U.S. car wash industry, Henley Investment Management’s CEO, Ian Rickwood, stands out for his bullish outlook, as featured in Bloomberg’s comprehensive analysis. Rickwood highlights the unparalleled potential of subscription-based revenue models within the sector, emphasizing the significant financial upside. He notes that shifting just a fraction of the market towards memberships could dramatically increase both consumption and revenue, underscoring the untapped growth opportunities in an industry resistant to digital disruption and primed for expansion.

Ian Rickwood, chief executive of Henley Investment Management, said:

What other industry can offer locations with up to 80% subscription-based revenue and an earnings before interest, taxes, depreciation and amortization margin of 50%? Amazon can’t ship a car wash. And the growth potential is massive. About 15% of the current car wash market is membership-based, he estimates; when customers go from non-members to members, that results in 13 times more consumption and 10% more revenue. If just 10% of the total market shifted into the membership category, that would boost the total number of washes in the US from 2 billion to 3 billion a year.