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Checklist for purchasing new washes?

S

soonermajic

Well-known member
What all do you have on your "To Do" list for purchasing new washes? I'm about to FINALLY, AFTER 8 MOS, close on 2 washes. 1 is 5 SS, other is 5 SS 1 IBA.
I try to keep it to WIN: What's Important Now.
 
New or used. Always fun to purchase a used place to find pits not pumped in years and hving to spend $5k to do this.
Is operation zoned so new opertor can get license easily or is special use needed which will delay opening.
Legal entity formed? Do you own land? Seperate entities for land and operations? FEIN's for each? Bank Accounts?
 
It is 2 used washes. Owner agreed to dig all pits, replace all foam brushes, switch bill changers to MEI, & fix 2 broke vacuums. I will own property & wash, both. Mainly concerned with the CC operations from his IBA....anything else?
Tiny rural town, pop 7k, so no crazy zoning, liberal ran city planners etc...lol
 
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I bought a place that had black mats under all the pumps, looked fine at a glance but after I bought it I figured out all the mats were to soak up the water that was leaking out them :)

If he has landscapers or similar get their contact information, if he has telephone / internet (maybe other utilities) you may need to work with him to get that transferred over to you.
 
Little things. Look on social media about the places. Customers can be brutal but will tell you what they think. I like to look closely in the equipment rooms. Ideally they should be well lit, clean, NO junk or ANY used parts, and good spare parts inventory. Go through every bay and check all functions. With the IBA call tech support for it and ask them if they have any history with the wash. I like to think of any improvements as to whether a new buyer or customer will appreciate it. And most of all, good luck with your new investment.
 
Biggest thing I learned was to make sure you have EVERYTHING on the purchase agreement. I recently bought a wash and just had the equipment and spare parts on it and was under the assumption everything else was included... they took everything else that wasn't nailed down. Just make sure it's detailed right down to the bill and coin counters.
 
water guy said:
How about a owner finance 40 miles away? 6bay self serve
Click to expand...

Ironic, as that is almost what I am doing. Bank 80%, owner finance 20%. Bank has 1st mortgage, so it's to owners benefit to to do everything he can to help me. If I fail, he only gets 80%, & bank takes it.
Keep the good ideas coming. Any ideas on what to do about his IBA , C.C. transactions? Whom do y'all suggest as the processor?
 
What kind of auto cashier? Do bays have credit card? I would start the process of credit card changeover at least 2 weeks in advance and make sure processor and manufacturer know what date you are switching ownership. If you can tell us who the equipment manufacturer is I can probably tell you the general process and how long it will take. It can be a frustrating process.
 
Vanessa McCullough
Credit Card Setup Representative
Hamilton Manufacturing Corp.
1026 Hamilton Dr.
Holland, OH 43528
P: 800 837 5561 ext. 260
I bought a site with a Hamilton last year. She was great to work with on getting my information swapped to the modem. I use priority payment systems for processing mainly because that is the preferred vendor for Unitec. She may have someone they prefer to work with.
 
Anything else I need to be doing, to take over these 2 washes? 1 is a 5 SS /4 vacs & its a ghetto wash.
Other is 5 SS/ 1 IBA / 6 vacs w/ a full time prepper. Has CC only for IBA, & no bill validators anywhere, just straight qrtrs.
Both sites are $1 /4 min & each .25 is 1 full minute. Vacs are .50 for 4 minutes. I'm thinking leave SS @ $1 , but lower it to 3 minutes & each .25 give 40 secs. Plan to add extrutech next Spring & go to $1.25/3 min. Also plan to go .75 on vaca & lower to 3 minutes.
What do you guys think about those ideas?
 
Make sure all utilities are paid up and are ready to transfer immediately into your name. If the gas, water or electric is interrupted it would obviously hurt business.
 
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