Car wash owners: Stop obsessing over optimization—scale to $4M per store

0:00We are in the car wash business. Did 12 and a half million in revenue on four stores last year. >> Hell yeah. >> 40% margins. >> When you go to bed, does it hurt like your back on the pile of money you sleep on? >> Yeah. >> [laughter] >> Our goal would be 4 million at each location. A couple stores are going to flirt with it. >> Tease it a little bit? >> Yep. We're going to get close. >> Just the edge. >> Yep. And then we're trying to open another store by the end of the year. >> So, number one is One of the things that keeps small business owners small is that they over fixate on optimization rather than maximization.

0:29The 4 million dollar number, I do love goals, but kind of who cares? You're running 40% margins. Can't we just open up another location and just leave these at 3.7? >> Sure. Yeah. >> One of the things that has motivated me a lot as an entrepreneur is framing my opportunity as what I'm losing every day. Right now you're trying to get a thousand and losing five thousand doing it. >> Sure. >> Once you're kind of teetering on this edge, you should stop messing around trying to get the 300,000 here and get the 4 million that's sitting in the next location.

0:56>> Next location. >> Right. So yes, you have my complete blessing to open the next location and not plunge all the way in. You know, just ask for consent, make sure you get all that good stuff. Yeah, and take the money to the bank. >> Thank you. >> Appreciate you.