Excellent location but no money?
5 years ago I was approved to add 3000 sq ft C-Store and a 4000 sq ft lube 2x4 configuration, added to my existing 75,000 Cars/Yr car wash and at the time 150,000 G/M unbranded gas station. I was able to secure funds to build the C-store (now open) but unable to secure reasonable money to build Lube. close to 3 acres 330' frontage on local hwy 38,000 cars/day in central NJ.
We have a history in auto repair (previously owned 2 repair shops). We are now running the store and considering leasing, the store is not in our comfort zone. With these economic times I have all but given up on getting financing, with car wash and gas sales declining and also looking for alternatives. I know the Lube would help accessory business’s so considering an offer for someone else to build, and lease, an oil guy has offered to build and run cost to build $350-400,000, and would pay $4,500/ mo lease
Is this a fair deal? Project to do 80 + lubes P/D as Mobile oil (have Exxon gas seams like best fit)
any guidence is appreciated
5 years ago I was approved to add 3000 sq ft C-Store and a 4000 sq ft lube 2x4 configuration, added to my existing 75,000 Cars/Yr car wash and at the time 150,000 G/M unbranded gas station. I was able to secure funds to build the C-store (now open) but unable to secure reasonable money to build Lube. close to 3 acres 330' frontage on local hwy 38,000 cars/day in central NJ.
We have a history in auto repair (previously owned 2 repair shops). We are now running the store and considering leasing, the store is not in our comfort zone. With these economic times I have all but given up on getting financing, with car wash and gas sales declining and also looking for alternatives. I know the Lube would help accessory business’s so considering an offer for someone else to build, and lease, an oil guy has offered to build and run cost to build $350-400,000, and would pay $4,500/ mo lease
Is this a fair deal? Project to do 80 + lubes P/D as Mobile oil (have Exxon gas seams like best fit)
any guidence is appreciated
