Echoes of my reality

There is something else you need to add to this.

It’s permission.

You need to give yourself permission to do what you are motivated to do. The only person who can do this is you. Everyone else believes in you and that’s great. Now it’s up to you.

A saint who was visiting the river Ganges to take bath found a group of family members on the banks, shouting in anger at each other. He turned to his disciples smiled 'n asked.

'Why do people shout in anger shout at each other?' Disciples thought for a while, and one of them said, 'Because we lose our calm, we shout.' 'But, why should you shout when the other person is just next to you? You can as well tell him what you have to say in a soft manner.' asked the saint.

Disciples gave some other answers but none satisfied the other disciples.

Finally, the saint explained. 'When two people are angry at each other, their hearts distance a lot. To cover that distance they must shout to be able to hear each other. The angrier they are, the stronger they will have to shout to hear each other to cover that great distance.

What happens when two people fall in love? They don't shout at each other but talk softly Because their hearts are very close. The distance between them is either nonexistent or very small…'

The saint continued, 'When they love each other even more, what happens? They do not speak, only whisper 'n they get even closer to each other in their love. Finally, they even need not whisper, they only look at each other 'n that's all. That is how close two people are when they love each other.'

I just heard about a company making almost $100M/yr selling car washes.

I was fascinated so I spent 2 hours digging into the business.

Here’s what I learned:

The company is called Mammoth Holdings. They own nearly 100 car washes in places like Knoxville, Miami, and Utah Valley. And growing fast.

Mammoth is one of many firms that are rolling up car washes, with PE backing.

And it makes a lot of sense. Car washes can make $1M - $2.5M per year at a hefty profit. Especially if you know how to run them.

Here's the Mammoth playbook:

1/ Buy the biggest car wash in a small market

Mammoth doesn’t actually build car washes. To enter a region, they acquire a popular brand with a few locations. This acts as their car wash platform for the market. They keep the name and continue picking off smaller players in that same market, rebranding them to match the platform. Before long, they are a dominant player.

2/ Implement a subscription model

This is the best part. Most of us pay for a car wash each time we go. But that can lead to a crummy business with spotty revenues. What happens when it rains and no one needs a wash? So Mammoth introduced a membership model. They charge $18 - $35 / month for unlimited washes. Each tier comes with its own perks like waxing and tire shining.

Get this – 60% of the company’s revenue is recurring! This makes a lumpy revenue stream much more smooth and consistent.

3/ Put lots of automation in place

Once you get a car wash subscription, members get a radio-frequency identification tag to put in your windshield. The RFI tag tells the wash which package you have, chemicals are mixed automatically, and you drive right in. With this automation, a typical car wash can operate with just 2 employees. Huge boost to the bottom line.

4/ Acquire smart and finance well

Mammoth buys a mix of dominant car washes and smaller ones, paying higher and lower multiples for each, respectively. Then they will sell the real estate and rent it back from the new owner. This lets them pull out a chunk of capital asap. There’s actually huge demand from real estate investors for the land that sits under car washes.

5/ Keep people and train them up

After an acquisition, Mammoth tries to retain existing employees. The company trains them on its playbook and promotes from within. This streamlines talent acquisition and keeps employees on board for much longer. You can go from working in a single car wash to managing an entire territory.

6/ Optimize back office functions

What’s a wine if it isn’t shared?