What’s everyone thoughts ? Self Car Wash / Express

[WashNGo121]

Hi everyone, I found another car wash that I had the opportunity to purchase. I can either buy the land with the property which is about 2 acres. Or just buy the business lease the property triple net lease and have the option to buy the property.

Pros:
It’s a 5 bay car wash self serve which is what I am looking for as well as an express wash on the end. Met the seller there and did a walk through. All the equipment was in working order and from the self serve to express the mechanical rooms and machines were very neat organized and in great condition.

The express had two pay stations and one employee to do a pre wash before the customer enters the tunnel. The express currently has about 400 members.

Car count is 28,000 on a main road.

Cons:
ModWash just opened up down the block. The ModWash is 0.4 mile away! It’s a beautiful express wash.

Used to have about 500 members but dropped to 400. I would assume cause of the wash up the block that just opened.

Wanted to be about an hour away drive time from my wash. This is 1 hr 30 mins

Considering this the biggest thing is the ModWash. Would this scare you away from purchasing? I know this wash is unique cause it’s a self serve which is what I am looking for and additionally has a nice express but would I be able to complete with them?

Thank you

 

[traveler17]

Hi everyone, I found another car wash that I had the opportunity to purchase. I can either buy the land with the property which is about 2 acres. Or just buy the business lease the property triple net lease and have the option to buy the property.

Pros:
It’s a 5 bay car wash self serve which is what I am looking for as well as an express wash on the end. Met the seller there and did a walk through. All the equipment was in working order and from the self serve to express the mechanical rooms and machines were very neat organized and in great condition.

The express had two pay stations and one employee to do a pre wash before the customer enters the tunnel. The express currently has about 400 members.

Car count is 28,000 on a main road.

Cons:
ModWash just opened up down the block. The ModWash is 0.4 mile away! It’s a beautiful express wash.

Used to have about 500 members but dropped to 400. I would assume cause of the wash up the block that just opened.

Wanted to be about an hour away drive time from my wash. This is 1 hr 30 mins

Considering this the biggest thing is the ModWash. Would this scare you away from purchasing? I know this wash is unique cause it’s a self serve which is what I am looking for and additionally has a nice express but would I be able to complete with them?

Thank you

Personally any purchase I want the dirt but bottom line is do the numbers work!! If you’re on the fence short term lease w a guaranteed option to buy not a bad look if you’re uncertain. Only losing 100 members w an express next door doesn’t sound like too big a hit. Obviously purchase price and ROI are the only thing that you need to be concerned.

 

[WashNGo121]

Personally any purchase I want the dirt but bottom line is do the numbers work!! If you’re on the fence short term lease w a guaranteed option to buy not a bad look if you’re uncertain. Only losing 100 members w an express next door doesn’t sound like too big a hit. Obviously purchase price and ROI are the only thing that you need to be concerned.

I have the option to do either or. But I would personally just lease short term and build up the business and then buy the property which I can do. I know 100 members isn’t alot but the wash that just opened up is one of those state of the art ModWash and they are very close right up the block which does make me concerned. Would that stop you from purchasing? This is my first self serve / express.