Months 1–3

Founder equity committed; CIPC, SARS and SEDFA application lodged; site search against the Section 7 criteria

Month 3

Zoning and water approval confirmed in writing; conditional lease signed and permits lodged

Months 4–8

Canopy, hardstand, drainage and oil separator built; recycling plant installed

Month 8

Recycling plant commissioned and the rate verified above 60 per cent

Months 7–10

Equipment installed; team recruited and trained; site one opens

End Year 1

Gate 1: all permits held, recycling verified, site-level EBITDA positive for three consecutive months

Year 2

No new site. Subscription programme launched, detailing mix built, labour model and rostering refined, manager trained

End Year 2

Gate 2: at least 200 subscribers, site-level EBITDA above 25 per cent, a manager running the site without the founder

Year 3

Site two zoning and water confirmed; growth equity of R2.40m and equipment finance drawn; site two built and opened. Group EBITDA turns positive

End Year 3

Gate 3: site one throughput maintained through the build

Year 4

Both sites through a full year; subscriber base built toward 690; detailing capacity expanded

End Year 4

Gate 4: both sites above 28 per cent site-level EBITDA, combined subscriber base above 650

Year 5

Bank term loan drawn; site three built; management layer appointed above the three site managers. Three sites, R8.32m revenue, R1.36m EBITDA, cover 1.46 times

Zoning confirmed in writing

Everything at that site

A conditional lease costs nothing and has saved more operators than any other clause

Water and drainage approval

Construction and the recycling plant

Retrofitting compliant drainage into an unsuitable site is prohibitively expensive

Recycling plant commissioned above 60%

Gate 1 and the licence to use municipal water

Verified at commissioning, monitored monthly thereafter

SEDFA approval

R800 000 of Year 1 funding

Requires CIPC registration, SARS tax compliance and a proposal in their format; lodged in month one

Site manager trained

Gate 2 and therefore the second site

Cannot be done while building; it is the point of the Year 2 consolidation

200 subscribers

Gate 2 and the revenue floor

Launched in Year 2, not at opening, because the base needs a working site to sell against

Growth equity at Year 3

The second site

Conversations begin in Year 2 with a full year of site-one trading data

Debt service cover above 1.30x

Gate 5 and the third site

Reached at 1.46x in Year 5; the Year 4 result at 0.83x is what determines the timing

Daily takings and cars washed

Daily

Founder

By site, by service type, against the demand curve

Throughput per washer shift

Weekly

Founder and site manager

The labour discipline in Section 11.1

Water draw and recycled volume

Monthly

Founder

Metered separately; the evidence for the municipal return

Subscriber movement

Monthly

Founder

Joiners, leavers, and utilisation against the per-site cap

Management accounts

Monthly within 10 business days

Founder, growth investor from Year 3

Site-level and group, with the gate conditions tracked

Debt service cover certificate

Quarterly

Lenders

Calculated on EBITDA against interest and scheduled capital

Gate condition review

At each stage end

Founder and growth investor

The documented basis for proceeding to the next site

Annual financial statements

Annually

All funders

Independently reviewed