Case Study: Despite ZIPS bankruptcy, car wash industry remains robust

ZIPS Car Wash's case illustrates how financial missteps, market dynamics, and competitive pressures can unravel a business in a high-growth industry.

Author

Jim Utter
April 18, 2025

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🌅Good morning! FOCUS Investment Banking recently completed a case study surrounding the Chapter 11 bankruptcy filing of ZIPS Car Wash. Read about the insights from the report in this issue of the Car Wash Daily News email newsletter.

👋Come say hi! Jim Utter, Director of Journalism and Editor in Chief of Car Wash Daily News will be in attendance during this month’s International Carwash Association’s Car Wash Show 2025 at the Las Vegas Convention Center (April 26-28). Stop by Booth No. 342 and say hello.

👉To give you an idea of what our daily newsletter has to offer, you can access all of its contents - including the long-form version of stories teased on the newsletter - until later this month. After that, as a paid subscriber, you can maintain full access. Otherwise, only short teasers and summaries will be available in the newsletter and on the Website.

We’re excited about offering a new addition to the media landscape to help publicize an underserved industry. I hope you enjoy reading.

Jim Utter
Director of Journalism/Editor in Chief
CW Daily News

Today's issue is sponsored by The Vita Agency — Let’s Drive More Business Your Way.

👉 We’d like your input! Have a story idea or would like us to receive your company’s press releases on your latest news? Email us at [email protected].

🔦TODAY’S SPOTLIGHT🔦

Case Study: Despite ZIPS bankruptcy, car wash industry remains robust

A recent case study published by FOCUS Investment Banking takes an analytical dive into the factors behind the recent Chapter 11 bankruptcy by ZIPS Car Wash and provides solid reasons why the industry should not panic.

ZIPS was the fifth-largest express car wash operator in the United States when it announced it had voluntarily entered Chapter 11 bankruptcy in early February.

The company, which also operates brands Rocket Express Car Wash and Jet Brite Car Wash, cited the need to greatly reduce its outstanding debt in taking the action.

Read more here.

➥ SUMMARY

ZIPS Car Wash's bankruptcy case illustrates how financial missteps, market dynamics, and competitive pressures can unravel a business in a high-growth industry.

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✂️SHORTCUTS✂️

   Editor’s Picks 👇

  • WashCard Systems, UIC partner in new cashless car wash payment system: UIC and WashCard Systems have announced a strategic partnership to create a cashless payment solution for car wash owners. In an industry retains a large percentage of legacy payment systems, the new collaboration will empower car wash owners to move beyond outdated cash-and-coin and MSR-only payment systems and adopt cashless solutions that are efficient and effortless. WashCard Systems, a trusted name in helping car wash operators modernize their businesses, is providing the hardware and software necessary to transition to cashless technologies. Read more here.

   Express Hits  🎯 

  • Links Car Wash recently celebrated the grand reopening of its newest location in Largo, Florida. While the car wash facility has served the community for years, it now operates under new ownership and branding as a Links site. Car Wash. The rebrand brings a fresh focus on speed, quality, and customer experience. To celebrate the reopening, Links, based in Charlotte, N.C., will host a ‘Free Wash Frenzy’ on Friday and Saturday (April 18-19). Guests can enjoy a free Ultimate Wash.

  • Tommy’s Express Car Wash recently broke ground on the construction of a location in Indian Land, S.C. The site should be ready to open within eight to 12 months. Tommy’s Express is based in Holland, Michigan, and their sites are known for innovative wash tunnels that feature floor-to-ceiling windows and a transparent roof. With nearly 250 locations across North America, Tommy’s Express is ranked No. 1 in the car wash category on the Entrepreneur Franchise 500 list.

  • A new car wash brand – Station Auto Wash Express – is set to debut in Loudoun County, Virginia, later this month when its first site opens April 21 in Sterling, Va., in Guilford Station center. The owners are already working on a second location, which will be built at the Countryside Marketplace on Route 7 in Sterling. Station Auto Wash Express will feature a high-tech tunnel wash that includes mat washers.

    👉 More updates here.

   Making Waves Around the World  🌊 

  • Car wash attendant in Nigeria receives six-month jail term for theft: Gwagwalada Magistrates’ Court, Abuja, in Nigeria this week sentenced a 29-year-old car wash attendant to six months imprisonment for stealing N1.13 million from his employer. He was also given an option of fine of N50,000. The police charged the man with criminal breach of trust, cheating and theft for stealing the employer’s ATM card and withdrawing N1.129 million from his bank account. He pleaded guilty to the charges and appealed to the court to temper justice with mercy. The Magistrate also ordered the accused to pay compensation of N1 million to the employer.

    👉 More updates here.

   What’s Coming Up  📅

  • ICA Car Wash Show 2025: The International Carwash Association’s ultimate gathering for car wash pros returns to the Las Vegas (Nevada) Convention Center April 26-28, 2025. More info here.

  • 12th Women in Carwash Conference: The biannual conference’s second event of the year is set for Jun 8-10, 2025, at The Charter Hotel in Seattle, Washington. More info here.

  • Southwest Fuel & Convenience Expo 2025: The premier event for fuel, food and convenience retailers in the Southwest United States is set for June 9-11, 2025, in Fort Worth, Texas. More info here.

  • Car Wash Show Europe 2025: The leading car wash trade fair in Europe takes place Sept. 24-25, 2025, at EXPO Greater Amsterdam in the Netherlands. More info here.

  • Northeast Regional Carwash Convention 2025: The NRCC, scheduled for Oct. 6-8, 2025, in Atlantic City, New Jersey, includes educational seminars, keynote speakers, and a large trade show. More info here.

  • NACS Show 2025: The National Association of Convenience Stores trade show, scheduled for Oct. 14-17, 2025, Chicago, Illinois, brings together convenience and fuel retailing industry professionals for learning, buying and selling and networking. More info here.

❓DID YOU KNOW❓

According to a recent study by CoherentMI, a global market intelligence company, the car wash service market is estimated to be valued at $34.51 billion in 2025 and expected to reach $44.50 billion by 2032, growing at a compound annual growth rate of 3.7 percent.

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Disclaimer: The authors of cwdailynews.com, LLC are not financial or tax professionals. This email is for educational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions. Our content, which may include affiliate links, reflects personal opinions and should not be used as the sole basis for decision-making. We are not responsible for any losses resulting from the use of this information.