ULTIMATE WASH
New member
There is an exterior only car wash for sale. There are three other washes within a 2 mile radius, and all of them are in better shape. The equipment is peco just replaced 2 years ago. Tunnel is old and needs a face lift on the inside and outside. Has a couple of self serve Vacs on the property. Just inside a heavily traveled road but not right on it. Here are the numbers.
Ask price 399K
Volume 180K
Utilities and taxes 20K per year
Rent 40K per year
Payroll- place is now run by 2 very hands on brothers and employees are at a minimal as they usually run with one other employee.
From my very minimal experience. The wash needs to be turned around and put back back on the map!
Was thinking of offering 300k with 100k down and present owners holding 200K @ 6.5% for 10 years fixed.
Other facts:
Tunnel is 70 feet and there is a little room for expansion for a detail bay and some full serve features. Customers ride through in car.
The present price point per unit is $8-9 and they are doing about 20k cars per year. Wash has been there since the seventies.
My concerns to much competition in the area. Also place needs to be really cleaned up and needs a major face lift. Visibility is ok but not great. Does the place have any chance to be turned around, it seems to be a very big uphill battle! Present owners own property and said that other than the roof the rest is on me.
One other feature is the owners will sell the whole package for 1 million.
All replies very appreciated!!
Ask price 399K
Volume 180K
Utilities and taxes 20K per year
Rent 40K per year
Payroll- place is now run by 2 very hands on brothers and employees are at a minimal as they usually run with one other employee.
From my very minimal experience. The wash needs to be turned around and put back back on the map!
Was thinking of offering 300k with 100k down and present owners holding 200K @ 6.5% for 10 years fixed.
Other facts:
Tunnel is 70 feet and there is a little room for expansion for a detail bay and some full serve features. Customers ride through in car.
The present price point per unit is $8-9 and they are doing about 20k cars per year. Wash has been there since the seventies.
My concerns to much competition in the area. Also place needs to be really cleaned up and needs a major face lift. Visibility is ok but not great. Does the place have any chance to be turned around, it seems to be a very big uphill battle! Present owners own property and said that other than the roof the rest is on me.
One other feature is the owners will sell the whole package for 1 million.
All replies very appreciated!!
