Car Wash Feasibility Study in Oklahoma

Smaller washes and a high cancellation floor

Oklahoma car wash lending is smaller than the national book. The cell holds 40 SBA loans from FY2017 to FY2026, worth $32.4 million, and the median of $590,500 is only 0.64x of the class median nationally. Loans in the middle half run from $238,475 to $1.0 million. Oklahoma is 24 of 53 states for the class, car washes take 15 of 39 slots among Oklahoma classes, and a location quotient of 1.28x shows car washes counting for more in Oklahoma than in the country.

Lenders and counties in Oklahoma

Seven-a lending carried 29 loans and 504 carried 11, and no loan is a franchise. On the 504 side the name is Rural Enterprises of Oklahoma, Inc., at 6 loans and $5.0 million, and BancFirst holds 7 loans and $2.9 million among 7(a) lenders. Together the 29 loans under 7(a) and the 11 under 504 make up the 40-loan cell. Oklahoma County has 9 loans, Cleveland 5, Tulsa 4 and Canadian 2.

Timing and fallout

Lending peaked in FY2021 with 9 loans and $12.2 million, and FY2020 had 8 loans and $5.6 million. Volume then faded to 2 loans and $161,200 in FY2024, no loans in FY2025 and 1 loan of $1.1 million in FY2026. Cancellation took at least 17.9% of Oklahoma wash approvals, with an identical ceiling, a high floor. Loan Analytics prints no charge-off rate, because the cohort is under 30 loans.

Evidence an Oklahoma wash needs

A study should prove volume before cost. The median of $590,500 sits at 0.64x the class median nationally, so a site should be priced at the Oklahoma scale rather than as a national-sized project. Traffic counts, visibility and access determine how many cars a site can attract, and the competition within the same drive time determines the share a new wash can take. The format matters: a self serve or in bay automatic wash has a lower cost and lower throughput than an express tunnel. Water, chemicals, utilities and labour need quotes, and rules on drainage and discharge should be checked early. Coverage must be run with a slow first year and a rainy spell. Because the cancellation floor is high, documenting site control, permits and equipment pricing before closing is the place to start.

Format blind spot

Oklahoma washes cannot be sorted by format, since one code takes in car, truck and mobile washes.