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Financial Deep Dive
Financial Feasibility Master FranchiseModel
Complete investment analysis covering program economics, 10-year projections, exit scenarios, and operational cost structures for the master franchise territory.
EUR 39.8M
Total Program
EUR 17.5M
Equity Required
33.0%
8-Year IRR
EUR 32.3M/yr
Revenue at Scale
Investment Program
Program Overview
Total capital deployment across franchise fees, construction, equipment, and working capital for the 8-tunnel master franchise territory.
Component
Amount (EUR)
Franchise down payment
400,000
Territory fee
300,000
Construction & land
20,471,000
Equipment
16,715,000
Deposit
435,000
Financing fees
217,000
Grand opening marketing
600,000
Stationery supplies
176,000
Working capital
528,000
Total Program
39,842,000
Tunnel Formats
Investment by Format
Five distinct tunnel configurations, each optimized for different market segments and site footprints.
MAXI
Premium Full-Service
Own Funds3,218,140
Land1,000,000
Building1,750,000
Equipment2,200,000
Total Investment~4,950,000
Washes Y1200,000
Washes Y10450,000
RE Exit Premium3,922,663
MIDI
Mid-Range Efficient
Own Funds2,069,804
Land900,000
Building1,500,000
Equipment1,950,000
Total Investment~4,350,000
Washes Y1140,000
Washes Y10350,000
RE Exit Premium3,423,415
SMART
Compact Urban
Own Funds1,819,600
Land800,000
Building1,250,000
Equipment1,750,000
Total Investment~3,800,000
Washes Y1130,000
Washes Y10250,000
RE Exit Premium2,924,167
GOGLOBAL
Entry Market
Own Funds1,559,632
Land700,000
Building1,000,000
Equipment1,500,000
Total Investment~3,200,000
Washes Y170,000
Washes Y10180,000
RE Exit Premium2,424,919
FLEX
Self-Service / Detailing
Own Funds1,531,800
Land800,000
Building1,250,000
Equipment1,250,000
Total Investment~3,300,000
Cleans Y125,000
Cleans Y1060,000
RE Exit Premium2,924,167
Financial Projections
10-Year P&L Projection
Consolidated profit and loss across the full 8-tunnel portfolio from Year 1 through Year 10 at scale.
Metric
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Tunnels
2
5
8
8
8
8
8
8
8
8
Total Washes
330K
886K
1,614K
1,995K
2,335K
2,645K
2,875K
2,988K
3,000K
3,000K
Avg Price
€8.00
€8.50
€8.76
€9.02
€9.29
€9.57
€9.85
€10.15
€10.45
€10.77
Revenue
2.64M
7.53M
14.13M
17.99M
21.69M
25.30M
28.33M
30.32M
31.36M
32.30M
COGS
1.98M
4.78M
8.32M
10.18M
11.71M
13.21M
14.45M
15.27M
15.19M
14.87M
OPEX
0.46M
1.21M
1.89M
1.94M
2.03M
2.12M
2.20M
2.28M
2.35M
2.42M
EBIT
0.19M
1.54M
3.91M
5.86M
7.94M
9.98M
11.68M
12.78M
13.82M
15.02M
EBITDA
0.84M
3.11M
6.50M
8.55M
10.63M
12.66M
14.36M
15.46M
16.01M
16.50M
Adj. EBITDA
0.56M
2.73M
6.15M
8.18M
10.27M
12.32M
14.01M
15.12M
15.65M
16.13M
EBITDA Margin
21.3%
36.3%
43.5%
45.5%
47.4%
48.7%
49.5%
49.9%
49.9%
49.9%
Bank Debt
4.82M
12.21M
19.15M
17.41M
15.73M
14.02M
12.25M
10.57M
8.89M
7.20M
Cash Balance
~0
1.13M
4.54M
9.31M
15.97M
24.30M
33.99M
44.75M
55.90M
67.39M
Exit Analysis
Exit Scenarios
Illustrative exit at Year 8 based on a 6x EBITDA multiple. Actual franchise term is 20 years.
EBITDA Multiple
6x
8-Year Exit Value
EUR 135.98M
Operational Value
EUR 115.43M
RE Premium
EUR 20.55M
Full Business IRR
33.01%
Investor IRR
31.06%
Annual Investment Return
29.18%
Return on Investment
EUR 118.45M
10-Year Return (Without Exit)
EUR 239.76M
Operational Economics
Cost Structure Breakdown
Key cost drivers as a percentage of revenue, plus unit costs for major utilities.
Franchise fees (royalty + brand + IT)8.0%
Materials~10.8%
Repairs & maintenance~9.4%
Car damage provision~2.6%
Local marketing~4.0%
D&AAsset life
Water€2.9/m³
Electricity€0.069/kWh
Franchise fees: 4% royalty + 1% brand development + 3% IT platform. Repairs include maintenance, innovation fund, and water recycling.
Debt Structure
Financing Terms
Senior secured debt facilities for real estate and equipment, structured with grace periods and declining interest rates.
Real Estate Loan
Repayment180 months
Grace Period12 months
Total Tenor192 months
Interest Y18.0%
Interest Y27.0%
Interest Y3+6.0%
LTV60%
Equipment Loan
Repayment120 months
Grace Period6 months
Total Tenor126 months
Interest Y18.0%
Interest Y27.0%
Interest Y3+6.0%
LTV60%
Human Capital
Staffing Model
Monthly gross compensation by role across tunnel operations and corporate headquarters.
Role
Monthly (EUR)
Tunnel Operations
Head of Tunnel
2,717
Senior Operator
2,175
Operator
1,650
Cashier
1,500
Corporate / HQ
CEO (Country Manager)
6,000
Marketing Manager
3,100
Operations Specialist
2,800
Technician
2,700
B2B Sales
2,500
Supply Manager
2,500
Accountant
2,000
Client Support
1,500
Rollout Plan
Tunnel Deployment Schedule
Phased 3-year build-out followed by 7 years of optimization at full capacity.
Y1
2
+2 new
1 MAXI 1 SMART
Y2
5
+3 new
2 MAXI 1 SMART
Y3
8
+3 new
2 MAXI 1 SMART
Y4
8
Optimize
Y5
8
Optimize
Y6
8
Optimize
Y7
8
Optimize
Y8
8
Exit Window
Y9
8
Optimize
Y10
8
At Scale
Key Assumptions
3% yearly inflation applied across all projections
Master Franchise model (not standalone franchise)
Model assumes Master Franchisee owns Real Estate
EXIT illustrated at Year 8 for analysis purposes (actual contract term = 20 years)
Real estate yield: 9%, exit yield spread: 1.5%
All values denominated in EUR
Preliminary analysis — not a final commercial offer
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