ShinePro
Well-known member
Another factor that will make our business interesting to navigate for a couple years!
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It definitely is, and our wash counts the last 2 months reflect it.Its a $hit Show for Sure!!
same. I hate to hear that, but am glad it's a National trend, & not just at my wash!It definitely is, and our wash counts the last 2 months reflect it.
Being a real estate attorney I have been predicting it for a couple of years . People buying houses with no skin in the game - barely able to afford it - and no one considering that due to high purchase prices Real estate taxes would ratchet up on top of higher utilities etc. plus the national addiction to debt.Sadly nothing new, I could have already predicted this would repeat from 2008-09. And with all the handouts during covid, the can got kicked down the road, and made the consumer debt much higher in the processing it for
This is exactly what happened last time too, coupled with variable interest. This time though, there is so much private equity out there ready to scoop up all the single family homes that will eventually come on the distressed market...People buying houses with no skin in the game - barely able to afford it...
And the media is in their pocket. Heard a reporter on the radio this morning say, "The Biden administration says the economy is growing but, there is a perception among some Americans that the economy is faltering and a feeling that prices have gone up." Apparently perception and feeling have been redefined to mean fact.And then the Democrats deny there is a recession going on. It used to be that when there was a recession, the party in power would acknowledge it and try to spin policies and the hope the future. Now we get gaslit.
This is already happening in my area. If you watch closely, consolidation is starting where the big players are selling off their underperforming locations. I have already heard rumors (from reliable sources) of cash flow issues on more than one large EE brand...We need some macro conditions that will bring some sanity back to the express tunnel boom.
Who could have seen that coming...cash flow issues on more than one large EE brand...
Take 5 has reportedly closed many locations, some in operation for less than a yearThis is already happening in my area. If you watch closely, consolidation is starting where the big players are selling off their underperforming locations. I have already heard rumors (from reliable sources) of cash flow issues on more than one large EE brand...
To add to that, people are starting to cut things like memberships to save $$$.
They've closed some here. One of them was the best and busiest wash in the state before they took it over.Take 5 has reportedly closed many locations, some in operation for less than a year
Good opportunity for someone to pick it up at a discount and bring it back.They've closed some here. One of them was the best and busiest wash in the state before they took it over.
Great time to stretch out on some
and jump into this buzz. If I can't make enough to cover my morgage payments im screwed. Oh well just going to take it day by day.Great time to stretch out on some debt and jump into this buzz. If I can't make enough to cover my morgage payments im screwed. Oh well just going to take it day by day.