Summary:
Chance and Caden Coy are the young entrepreneurs behind Coy’s Detailing, a successful detailing business.
The brothers started their journey detailing boats and quickly expanded to car detailing after customer requests.
Caden purchased a building for $128,000, turning it into their business headquarters.
They credit their success to their family’s teachings about saving and mentorship from John Lindsay.
A $400 grant for equipment significantly boosted their business efficiency and morale.
Young Entrepreneurs Making Waves
Chance and Caden Coy are not just ordinary college students; they are the dynamic duo behind Coy’s Detailing, a thriving car and boat detailing business located on Glendale Avenue. Operating from a modest shop, they cater to customers across three states and have secured partnerships with local auto dealerships.
From Humble Beginnings
The brothers' entrepreneurial journey began at a boat marina in Angola, Indiana, where they earned $10 an hour detailing boats. In 2021, a request from a customer to detail cars sparked the beginning of their business. With a passion for cars instilled by their family, they transitioned into mobile detailing, which thrived mainly through word of mouth.
Investing in Their Future
In October, Caden made a significant investment by purchasing a former oil change building for $128,000, establishing the permanent home for Coy’s Detailing. Their entrepreneurial spirit is deeply rooted in family values, as their parents, both educators, emphasized the importance of saving and investing.
Learning from the Best
The Coys credit their success to the guidance of family and mentors. A pivotal figure in their journey has been John Lindsay, their former teacher and basketball coach, who not only inspired them but also helped Caden draft the original business plan during an entrepreneurship class. His teachings on financial literacy, influenced by Dave Ramsey, have been instrumental in shaping their business acumen.
Grant That Sparked a Fire
With Mr. Lindsay’s encouragement, Caden applied for a grant from the Billy Ciralsky Entrepreneurial Endowment Fund. The grant provided him with $400 to purchase an extractor, enhancing their detailing efficiency. Caden viewed this support as a vital investment in their potential, igniting their entrepreneurial spirit even further.
Thriving Business Model
As their reputation grew, local auto dealerships became significant clients, now accounting for 40% to 50% of their business. They continue to detail boats across four Indiana lakes, which contributes 35% to their revenue. The business has expanded to include six part-time team members, emphasizing a collaborative work environment.
Overcoming Challenges
Despite the challenges of running a business, the brothers maintain a strong partnership, learning mental toughness along the way. Their dedication has led to personal sacrifices, including limited social interactions during the early days of the business. Caden’s entrepreneurial spirit is further inspired by local philanthropist Pete Kadens, showcasing a desire to give back to the community.
First Published March 18, 2025, 1:43 p.m.
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