Hannah Ingram, a 22-year-old entrepreneur, is living proof that sometimes the most straightforward business ideas can be the most successful. In 2021, Ingram purchased a coin-operated car wash in Tennessee for $140,000. Three years later, it’s bringing in approximately $5,500 a month in profit – and it practically runs itself.
Ingram’s journey started with a savvy investment strategy. She utilized seller financing, allowing her to acquire the car wash without needing a large down payment. In essence, she took over the previous owner’s existing bank loan, making the purchase more manageable.
The car wash was already operational and profitable when Ingram bought it. However, she identified opportunities for improvement. She replaced old equipment, including brushes, vacuums, and soap dispensers, and invested in new signage to refresh the business’s look. She also implemented a credit card payment system and made other minor upgrades, all for a total investment of $7,500 on top of the purchase price.
Ingram’s initial efforts paid off. She saw a decent profit within her first month of ownership. To further streamline operations, she hired someone to handle the minimal maintenance tasks, such as taking out the trash, leaving her with just a few minutes each day to mix soap and manage the money.
The automated car wash now effectively operates on autopilot, generating a consistent $5,500 per month in profit. As Ingram told Business Insider, “These days, I basically just stop by to mix the soap and take care of the money… Otherwise, it’s entirely self-run – and I still make thousands a month.”
Ingram’s story demonstrates the power of strategic investment, efficient management, and a bit of entrepreneurial grit. By identifying areas for improvement and leveraging technology, she transformed a coin-operated car wash into a lucrative, hands-off enterprise, providing a valuable lesson for aspiring entrepreneurs looking to build a successful business.
