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Is it worth it? Self serve purchase advice

snshamwow

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Thinking about buying a SS car wash with 3 self-bays and one automatic bay. Also has RV washer on the outside (setup but no payment terminal or hosing), but I don't plan on utilizing that.

Summary:
  • Listed for 200k, can get it down to 150k. Selling because he is old.
  • 11,000 cars pass on the road each day
  • Automatic bay makes 2k a month and vacuums/self wash make 3k.
  • Has a Mark VII GT-300 in the automatic bay and all self bays are functional with all equipment present (bill exchanger, air compressor, RO system, heated pavement, pumps motors etc.)
  • Only issue is needs new water meter because of water main break. all other plumbing is fine.
  • Can seller-finance
I'm thinking I would need <5k to get it to optimal performance/efficiency and to make it look a whole lot nicer (just paint and stuff, looks modern and clean as is), also thinking about increasing prices as they've been the same for over 4 years.

What do you guys think?
 

CarWashBoy

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Thinking about buying a SS car wash with 3 self-bays and one automatic bay. Also has RV washer on the outside (setup but no payment terminal or hosing), but I don't plan on utilizing that.

Summary:
  • Listed for 200k, can get it down to 150k. Selling because he is old.
  • 11,000 cars pass on the road each day
  • Automatic bay makes 2k a month and vacuums/self wash make 3k.
  • Has a Mark VII GT-300 in the automatic bay and all self bays are functional with all equipment present (bill exchanger, air compressor, RO system, heated pavement, pumps motors etc.)
  • Only issue is needs new water meter because of water main break. all other plumbing is fine.
  • Can seller-finance
I'm thinking I would need <5k to get it to optimal performance/efficiency and to make it look a whole lot nicer (just paint and stuff, looks modern and clean as is), also thinking about increasing prices as they've been the same for over 4 years.

What do you guys think?
Buy it!
 

OurTown

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On the surface it doesn't sound too bad if there is more potential. What is the competition like and are there express exterior washes being built yet around there? $60K/year gross income, right? Will it make enough money the way it is with a loan to be worth it? There is more work than most people think and if you have employees it might make practically nothing after the smoke clears.
 

Rfreeman

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I would do it at those numbers. Anything over and above is just a bonus.
 

traveler17

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Buy it!! Even a bonus if owner financing. If it’s in NC and you don’t do it let me know. I’ll buy it
 

Island_Landlord

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Seller financing is keys to the kingdom. Do a basic napkin math: Principal, interest, taxes, insurance, gross income. Subtract. If it cash flows rock and roll. Also- find a distributor in your area. They can get you gross estimates, pricing info on competitors and provide advice on what you could do to make it more profitable.
 
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