stampedecarwash
Member
Hi all, my
Last edited:
Car Wash Forum
This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!
Re
- Thread starter stampedecarwash
- Start date
AnalyticWash
Well-known member
You might want to find and engage a commercial real estate agent that is familiar with negotiating leases in your area.
Not paying your rent to a multi-million dollar organization would be unwise
Not paying your rent to a multi-million dollar organization would be unwise
Only you can answer this question. How much time and what is the net? In all honesty the revenue is not likely to get better unless you are reinvesting which is doesn't sound like you are. Negotiate a lower lease if possible but it's likely time to consider exiting the business if they don't compromise.
My two cents, 43% is too much. Landlord should upgrade the wash. If you sign a new lease with 20 yr old equipment, you are probably obligated to honor the lease for 10 years, not going to make it. And if you leave, the landlord doesn't have much to lease in the condition the wash is in with old equipment. You are obviously a dedicated, hard working operator to have operated with the old equipment for 9 years. Seems to me you are more valuable to him than he is to you. Seems to me its time for the landlord to bring the wash up to date, giving you the best shot at going for another 10 years. Lawyer - yes, yes, and yes again. When I started in the business back in the 60,s, I became friends with an older operator who had two washes. I went to work for him, worked hard and became quite good at running washes. Long story short, he arrived at retirement age, wished to sell the washes, and I bought with his holding the paper. I will probably soon part ways with my washes in the same way he did. If I were starting all over today, I would try to go that route again.
Fatboy769
Living the American Dream
OP said that the landlord is a multi-million dollar corporation. I'm sure they don't care if that site stays a car wash or not.
And they may not even renew at all if their plan is redevelopment at the end of the lease term.
