Thinking about gettin into SS

[joedirt]

II bought an existing full serve conveyer wash in 2000 and built another in ’04 I sold them both in ’07. I was approached by a real estate investor who owns of a 4 bay SS who is currently leasing the wash to a guy who has no experience in the car wash Ind. This guy has not run the wash very well (dirty bays, poor lighting, watered down chemicals ECT). I have the opportunity to lease it for a year first 3 months free then $1000 monthly lease payment and then buy it on a land contract after a year. I can walk after the year is up if its not producing. Here’s a brief description built in ’01- 4 bay -2 SS and 2 touchless auto-1.1 acre lot - 32,000 cars per day traffic count with a stop light- 5200 sq ft building in back for detail & storage rental- prime location- 23,957 house holds in a 3 mile radius with $87,950 avg. income. The bad news there is on full serve conveyer (My old wash) 200 yards away - 1 express conveyer 2 miles and 3 SS within a 3 mile radius. The other SS always have cars at them when I drive by but I sat an watched this wash on a sunny Sat. (about 4P.M) and it only did 16 cars in an hour 14 IBA and 2 SS. Is this good for a SS? Does this sound like a good investment? I have experience in Full serve not SS any help would be appreciated.