Founded in 2015 by partners Scott Wainwright and Todd Bender, WOW Carwash is the leading express car wash provider in Las Vegas. With the initial goal of bringing the subscription-based express wash model to Las Vegas, the duo decided to expand as the strength of the brand and membership program grew.
WOW Carwash’s speed, quality, and friendly service distinguishes the brand from all other car washes in the Las Vegas market. WOW uses the most technologically advanced car wash equipment, which not only enhances the customer experience, but minimizes harmful effects on the environment. The chain has built a strong brand in the Las Vegas area with 11 locations open today and is primed to expand significantly in the next several years.
WOW Carwash Voted “Best Carwash in Las Vegas” for Fourth Year
WOW has been officially recognized as “Best Carwash in Las Vegas” for the fourth year in a row by the Las Vegas Review Journal’s “Best of Las Vegas” awards. WOW participates in numerous local initiatives, hosting philanthropic fundraising events and providing regular donations to local nonprofit organizations. Read more.
The first WOW Carwash location opened in 2017 and quickly grew to 6 locations in Las Vegas by 2021. Supported by Scott and Todd’s extensive real estate background, WOW quickly established its presence due to premier site selection, an elegant build and layout, and an alluring yet simple brand.
Todd and Scott sought out a strategic partner in 2021 to expand WOW throughout Las Vegas, an attractive and largely untapped express car wash market.
WOW offered a unique investment opportunity in a highly fragmented market with a strong executive team and a beloved brand presence in Las Vegas. GSP brought in resources to support the corporate team and provided capital to continue building WOW’s platform.
WOW continued to secure new locations (including an acquisition of one operating unit) and professionalized the greenfield development process to outpace competition and capitalize on the company’s first mover advantage. In the first two years under GSP, WOW has nearly doubled in size from 6 to 11 open locations. The company has an active greenfield pipeline and is expected to reach over two dozen units in the next two years, more than double any major competitor.
Since GSP’s investment, WOW has consistently grown profitability via improvements in its monthly recurring membership model and increased operational efficiency due to an added focus on water / chemical usage and refined labor scheduling and hiring / training cycle. WOW’s relentless emphasis on the customer experience and utilizing the latest technology has continued to boost the company’s brand recognition throughout Las Vegas and drive traffic to the stores. The platform’s investment in industry-leading equipment further enhances automation and efficiency, which provides a seamless on-site customer journey and drives margin expansion.
As with any multi-unit platform pursuing a “greenfield” strategy, WOW’s overall success is reliant on its ability to continue to build new, high-performing units.
To meet the ambitious growth plans, WOW has invested significant capital to secure A+ real estate locations and build state-of-the-art car washes. GSP’s vast real estate network and expertise has provided the company financial flexibility within its development pipeline and the ability to re-invest capital from sale leasebacks and cash-generating units to fuel future growth and high returns.
Coinciding with the growth of the pipeline, WOW required further investment in its team and infrastructure to support the platform’s trajectory.
Following the investment, GSP helped WOW bolster its corporate infrastructure to support the accelerated trajectory of the business. Headcount additions include a highly experienced CFO, a revamped marketing department, and several support staff, while GSP connected the team with more robust, technology-driven solutions. WOW has also leveraged technology to improve corporate functions, such as financial reporting, which provides the team with real-time, detailed insights into the business.
Looking ahead, the car wash industry and Las Vegas market continues to show significant opportunity for attractive new unit growth.
Since December 2021, WOW has strengthened its foothold within one of the most attractive car wash markets in the country and continues to perform with industry-leading unit economics. WOW’s washes offer speed, quality, and friendly service in a market where express car washes are lacking both in quantity and service, which has further entrenched a strong brand that fosters a dedicated, growing membership base. Supported by a well-rounded team and a deep, near-term pipeline, WOW is well positioned to continue its accelerated growth trajectory.