Rinsed Releases Q2 2024 Car Wash Industry Report

April 2024 — Rinsed announced the release of its Q2 2024 Car Wash Industry Report. This report analyzes data from over 2,000 car washes, allowing operators compare overall industry performance with their own.

The report revealed impressive average revenue growth of 6.2% YoY. This growth was driven by a 16.6% increase in membership revenue. With the increase in membership revenue, retail revenue declined 6.5%. 

Over the past several quarters, the industry has seen consistent improvement in average conversion rates as retail customers are converted to members more efficiently.

However, conversion rates vary with the size of a wash's existing member base. Washes with over 5,000 members saw the highest conversion rate, while those with less than 1,000 members saw the lowest conversion rate.   

On average, members washed 2.4x a month this quarter, generating an average revenue of $12.49 per wash each month. This insight is helpful in predicting the revenue a wash location can expect to receive from members. 

Finally, the report shares insight into member retention, looking into average monthly churn. The average monthly churn rate was 7.6% this quarter, an 11.8% increase YoY. With a high volume of voluntary churn and an accelerating rate of credit card churn in the industry, it is important that operators invest in minimizing churn through dunning and marketing messaging.

To view the full report and learn more about the latest trends in the car wash industry, subscribe at rinsed.com/subscribe.