Rock-N-Wash® Inc. (“Rock-N-Wash®”, “RNW” or the “Company”), a Canadian car and truck wash company focused on creating innovative and disruptive complementary service facilities to revolutionize the car wash experience, announced today the launch of an equity crowdfunding round available on Equivesto. This offering is open to individual and institutional investors. The proceeds of the round will be used to accelerate growth and fund the Summer 2023 construction of their new flagship site in Sherwood Park, Alberta as well as additional expansion sites across Canada to support the increase in output and scalability of the Company.
“We are excited to enable our fans, followers, and community members to invest with us and support our goal of creating a technologically advanced and engaging car wash experience while positively impacting the environment. We recognize the need for new, innovative facilities and have developed a solution with a patented protected design and consumer friendly experience. Our plan is to build environmentally friendly sites across Canada to increase our market presence,” said Sylvain Blouin, President & CEO of Rock-N-Wash.
Rock-N-Wash is strategically designed with multiple recurring revenue streams to produce healthy EBITDA margins; the Company’s model is patented, scalable and community focused. Their issued patented design can accommodate residential, commercial, and industrial clients. RNW’s sites are saving the equivalent of ~20 Olympic size swimming pools per site of fresh potable water consumption, and they intend for all sites to be LEED green building certified stewardship.
The Company has a proven business model having built and operated a highly successful site in 2013 – 2017 where their average revenue per transaction was much higher than the Canadian Industry average.
Rock-N-Wash is now proceeding with a Canadian crowdfunding round with Equivesto, an equity crowdfunding platform licensed to operate across all provinces in Canada. This expansion ownership opportunity has been structured to allow a qualified retail or accredited investor to own shares in an expansion model for as little as $250.00. “We truly wanted to offer our RNW Fans and community members an opportunity to share with us in the ownership model,” said Blouin.
The concept of crowdfunding received a much-needed regulatory update in Canada in September 2021. Until that time, the private markets were almost the exclusive domain of high-net-worth individuals and industry insiders. The new exemption (National Instrument 45-110), also known as the start-up crowdfunding rule, enables Canadians to invest in companies that align with their values and that they want to see succeed. Details on Rock-N-Wash crowdfunding round can be viewed at Equivesto.
“We are bringing a new approach to the antiquated Canadian car wash industry which includes a strategic design of multiple complementary services under one roof, a positive environmental impact, a community-focused engagement, simply put, we turn a mundane chore into a fun experience. It’s the small details that matter, for example, we give all our members a free wash on their birthday,” said Blouin.
Rock-N-Wash was voted as a favourite in the Edmonton market for 5 consecutive years, clearly its customers agree.
