Hi All-
I'm new here and this is my first post. I am really hoping that some of you might offer some sound nuggets about buying an already established car wash that is 13 years old, regularly maintained, they have 3 senior men who work regular shifts. One of these gentlemen is a neighbor a few houses down and he was telling me about the owners wanting to sell. Actually he said that they own another one closer the their home 40 miles way, are in their mid seventies and have himmed n hawed about selling for about 4 years but never really did anything.This place is about 1 miles from my home on a busy main street in a little podunk town. There are 2 other car washes but not as nice or spacious. There is one touchless bay, the money-maintainence room, 3 self serve, one self serve for big trucks and I think 2 vacs. Interestingly, the full size lot across the street goes with it which makes it easy to move my own snow and not have to pay. Also there is a house next door that rents for $575 a month. The neighbor mentioned that the house could be torn down after a year of my learning about the place and I could put in another automatic and maybe another bay.
I don't know much about the place other that my neighbor has been the main guy reporting to the owners for 10 years. He is 69 and says he just wants to travel and do something but he could be my answer guy and show me how to repair, refill etc. He mentioned $750K then said they mantioned $650K but he said I could probably get it for closer to $550K.
I would really like to know what sort of questions I should be asking and what records they should have that I could see.
I know that they need to upgrade to coin machines that take Canadian coins, need to upgrade to vac/shap with scent, need to upgrade to credit card use.
Please let me know what to ask and what to look at as possible dangers or money traps.
Any and all of your suggestions I will print and be sure to ask.
Thanks in advance
Sandelman
I'm new here and this is my first post. I am really hoping that some of you might offer some sound nuggets about buying an already established car wash that is 13 years old, regularly maintained, they have 3 senior men who work regular shifts. One of these gentlemen is a neighbor a few houses down and he was telling me about the owners wanting to sell. Actually he said that they own another one closer the their home 40 miles way, are in their mid seventies and have himmed n hawed about selling for about 4 years but never really did anything.This place is about 1 miles from my home on a busy main street in a little podunk town. There are 2 other car washes but not as nice or spacious. There is one touchless bay, the money-maintainence room, 3 self serve, one self serve for big trucks and I think 2 vacs. Interestingly, the full size lot across the street goes with it which makes it easy to move my own snow and not have to pay. Also there is a house next door that rents for $575 a month. The neighbor mentioned that the house could be torn down after a year of my learning about the place and I could put in another automatic and maybe another bay.
I don't know much about the place other that my neighbor has been the main guy reporting to the owners for 10 years. He is 69 and says he just wants to travel and do something but he could be my answer guy and show me how to repair, refill etc. He mentioned $750K then said they mantioned $650K but he said I could probably get it for closer to $550K.
I would really like to know what sort of questions I should be asking and what records they should have that I could see.
I know that they need to upgrade to coin machines that take Canadian coins, need to upgrade to vac/shap with scent, need to upgrade to credit card use.
Please let me know what to ask and what to look at as possible dangers or money traps.
Any and all of your suggestions I will print and be sure to ask.
Thanks in advance
Sandelman
