American singer and songwriter, Jason Derulo has made a surprising revelation about his financial success.
In a recent interview with Hits Radio, Derulo disclosed that he earns more money from his car washing business than from his illustrious music career. This unexpected turn of events highlights the massive impact of his entrepreneurial ventures on his overall financial portfolio.
Derulo's car wash business, Rocket Carwash, has become a lucrative investment, far surpassing his initial expectations. The company, which is valued at an impressive $2 billion, operates in several states across the United States, including Nebraska, Iowa, Pennsylvania, Texas, Utah, California, and Florida.
According to Derulo, the business model of Rocket Carwash is akin to that of Netflix or Spotify, offering a membership-based service that allows customers to get their cars washed at any time. This innovative approach has revolutionized the car wash industry, much like how streaming services transformed the music and film industries.
The pop star's venture into the car wash business was initially seen as an "unsexy" investment. However, it has proven to be a game-changer for Derulo, who now considers himself as much a businessman as he is a musician.
He explained, "I took a chance on it because its membership model reminded me of what Netflix and Uber did." This strategic move has paid off handsomely, with Derulo admitting, "It’s true that I make more money from my car washing business than from my music. It’s pretty crazy. It’s something that I didn’t expect at all."
One of the unique aspects of Rocket Carwash is its all-glass design, which allows customers to watch their cars being washed, turning the process into a visual spectacle. Despite the lack of advertising efforts, the business has thrived, attracting a steady stream of customers who appreciate the convenience and novelty of the service.
Derulo remarked, "You know what’s crazy? I have never even advertised my car washing business. It’s pretty amazing. It’s a supercar wash. It’s not like the ones you’re probably used to. It’s all glass, so when your car is being washed, everybody can see the action. It’s like a show."
Derulo's success with Rocket Carwash is part of a broader strategy to diversify his income streams. With 13 sources of income, he has invested in various sectors, including health, fitness, and sports. His highest-earning venture, however, remains the car wash business.
This diversification is a smart move, considering the unpredictable nature of the music industry. As Alice Enders, head of research at Enders Analysis and Media, noted, "Diversification is the best thing a musician can do. If you start earning less from music, you have something to fall back on."
The singer's journey into entrepreneurship began after a career crossroads in 2019 when he parted ways with Warner Music Group due to creative differences. This led him to explore other avenues, including becoming a popular creator on TikTok, where he amassed over 50 million followers. While social media provided a new platform for his music, Derulo recognized the importance of having multiple revenue streams to secure his financial future.
Despite his success in business, Derulo remains passionate about music. In 2021, he signed with Atlantic Records and released his fifth studio album, "Nu King," in 2024. The album features many of his previous singles, such as "Swalla" and "Take You Dancing," showcasing his continued dedication to his musical craft.
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