Jason Derulo is churning out music and suds with his side gig in the carwash industry.
Jason Derulo (Source: Screenshot: Forbes Talks, YouTube)
Jason Derulo Slays Profits in Car Wash Investments
According to a published article from eurweb, the singer Jason Derulo talked about his incredibly profitable investment in the business Rocket Carwash, which has facilities in Nebraska, Iowa, Pennsylvania, Texas, Utah, and California right now, during an interview on a YouTube program Forbes Talks.
The method that peoples wash their cars is essentially changing, he claimed. You know, it’s a very remarkable institution. You enter, pay a membership fee, and can wash your car whenever you want.
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Car Wash in the Business Industry by Jason Derulo
Derulo compared the car wash industry to Spotify or Netflix. “It is a very unsexy business, but it is a monster,” he said. “It’s similar to the Spotify business model and how Spotify transformed the music business. I mean, if I can get my car washed at any time for a very low fee, I mean, that trumps any other car wash out there, especially given that it is better than the other ones as well. That is Netflix and how Netflix transformed the film industry.
Derulo is reportedly no stranger to investment, having funded the BBC’s “Project Icon” reality show, the boxing organization Rumble Boxing, and the upscale eatery Catch LA.
According to Finurah, the vehicle wash services market is worth just over $29 billion and is expected to keep growing. Derulo asserts that the value of his own company is $2 billion.
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