The aim of most small businesses is to make a profit and creat wealth for the stakeholders.
It follows then, the first issue to address when planning a new carwash is market feasibility for economic uses. For example, is the market suitable for what is being proposed? Will the site generate enough sales to achieve the stakeholder's financial goals and objectives.
The answers to these questions are crucial in obtaining external funds to finance a new project.
For instance, banks and lenders really don't care how much money the business is expected to make. What they care about is the ability of the project to meet debt obligations now and in the future.
Consequently, banks and lenders place a lot of emphasis on market and management viability when making commercial loans. For example, does the business case presented represent an excellent market opportunity. Does the management team have the experience and knowledge to deliver the business model.
The issue of creating wealth is another matter.
To illustrate, a business' worth is a function of its assets and goodwill.
Assets are tangible such as building, equipment, and real estate. Goodwill is all of the things that make a business effective such as location, standard operating procedures, management, best practices, reputation, and track record.
Tangible asset requirements can be met by writing manufacturers and suppliers a business check. Goodwill takes time.
When companies have similar products and prices (i.e. express exterior), goodwill can make the difference in consumers choosing one store location over another. Goodwill also encourages brand loyalty and word of mouth that is crucial in expanding and sustaining a customer base.