Mister Car Wash is the largest national car wash chain in the U.S., operating 548 locations across 21 states. The core product is express exterior car washing — customers drive through a tunnel in roughly 10 minutes. A smaller subset of locations also offer interior cleaning services. Mister generates revenue through two channels: a subscription program called the Unlimited Wash Club (UWC), where members pay a flat monthly fee for unlimited washes, and retail, where one-time customers pay per wash. UWC represented roughly 76% of wash sales in FY25 and is largely weather-insensitive given members pay regardless of wash frequency. With approximately 2.3M members, Mister operates the largest car wash subscription program in North America. The business has a low variable cost structure, with labor and chemicals running roughly 28% of revenue, and the majority of costs being fixed, so incremental revenue flows through at high margins. Mister finances new store construction largely through sale-leaseback transactions. The company grows through greenfield development, targeting over 1,000 total U.S. locations over time, and bolt-on acquisitions within existing markets. Within existing stores, Mister drives revenue per member higher through mix shift into premium subscription tiers and periodic base price increases. Mister is being taken private by Leonard Green & Partners in a deal expected to close in the first half of 2026.