Jason Derulo’s genius monthly subscription car wash business is worth $2 billion

Jason Derulo’s popular subscription car washing company is now worth around $2 billion. 

You may know Derulo best for his string of songs, including Ridin’ Solo and Trumpets – or maybe even from the ‘Jason Derulo Has Fall Down the Stairs’ meme. 

But the 34-year-old is actually a super savvy businessman with numerous successful ventures.

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Jason Derulo’s Rocket Carwash is a smart concept

Like plenty of prosperous business owners, Derulo’s had some setbacks and ‘failures’ but says that other investments have ‘thrived’ and do well enough to ‘mitigate all the failures’.

And among the thriving companies that he’s launched and invested in is Rocket Carwash – a subscription car washing company that Derulo admits isn’t a particularly sexy business.

Few things are as satisfying as giving your car a good wash – even if your car is a Ferrari F1. 

And Rocket Carwash has perfectly tapped into this, offering subscribers unlimited car washes at several locations in California, Florida, Texas, Utah, Nebraska, Iowa, and Pennsylvania.

An unlimited subscription plan costs from $23.99 per month.

But customers can add on extra services and options which can push the plan up to $49.99 per month.

Derulo compared the company to Spotify and Netflix

Derulo says the concept for the business, which he joined in 2023, was similar to other subscription offerings such as Netflix or Spotify and that it’s a game changer in the industry.

“Rocket Carwash is basically changing the way that people get their car washed,” Derulo told Forbes Talks.

“It’s an amazing facility. You go in, you pay a membership and you can get your car washed at any time. It’s like the Spotify model and how Spotify changed the music industry. It’s like Netflix and how it changed the film industry.

“If I can get my car washed at any time for a low price, it beats any other car wash out there, especially it being better than the other ones as well.” 

As well as being cost-effective for those who like to make sure their motors are always looking their best – the business also prides itself on its green credentials.

Each car wash uses 40% recycled water, saving more than 70 gallons of water per car compared to washing your vehicle at home.

Derulo told Forbes the business now had a $2 billion valuation – not bad for a ‘not-so-sexy’ business, is it?