Have not heard anything about them, but anything is possible. Heck, even I could walk away if someone comes along with deep pockets. Would rather hit the Lotto though and hire a nice looking female captain to fly me around.
2018 Car Care Expo Express Car Wash presentations
- Thread starter Greg Pack
- Start date
Bob Koo
Member
If you are referring to Sunshine Car Wash on Court Street. I know this occurred about 6 months ago. I know Ron had purchased a new motor home over a year ago, then 6 months ago Melania called saying there were new owners
robert roman
Bob Roman
Thanks, Mr. Koo.
Some interesting things on this one. First of all Robert, of course you will see lots of old people at older tunnels. WE're in FL, aka God's waiting room. Older people are also the ones with the money. Many of the millennials are still in their parent'd basements. I see some decline in self serve, but nothing drastic. There are lots of people who enjoy using a self serve. The bad ones will die. As to the number of washes per day per million invested, let's have some fun with that.One of the posters said he heard that it would be around 110 cars per day per million. If an average total cost is 4 million, that means they will need to wash 440 per day. And that company at the ICA show that said they would be building one every 2 miles on a 25 mile stretch of highway. That means that every day they need a total of 5,280 cars. Assume most will wash twice a month. That means there needs to be 79,200 cars in that market area. (5,280 times 30 days, divided by two per car per month.) That is a doable number in the north Tampa area. Throw in a rainy month, or several during our rainy season, and I suspect things will get tight. The unlimited wash clubs seem to be doing well, but that is going to eat up a lot of equipment pretty fast. Man, 440 cars per day to break even.
robert roman
Bob Roman
This construction boom is different than last one Mac.
First, the principal business model is different – express exterior instead of self-service or in-bays at gas sites.
The investor base is different – mostly owners of regional chains and private equity backed investors and fewer mom and pop.
Purpose is different – more real estate plays instead of owner/operators.
Attitude is different. I’ve done a little work for private equity firms. They view industry as another retail space to exploit (consolidate) where as mom and pop views carwash as occupation.
Florida and other markets are still ripe for express. Tourists and snowbirds have money, lots of lazy people, and plenty of cheapskates to buy into $3.00 or $4.00 base price.
However, NASCAR base price is $6.00 so I don’t know.
Also, notice how folks did not build new NASCAR next to WAWA and Thorntons at Starkey/Ulmerton in Largo but instead built a bigger site near Belcher/Ulmerton (cheaper land, easier access).
NASCAR also built express within one mile of Mister Carwash on Park Blvd. in Seminole.
I just got back from vacation so I plan to visit and do some car counting soon.
“….building one every 2 miles on a 25 mile stretch of highway….” At “….average total cost is 4 million….”
$48 million has to be private equity, hard money or franchise. 12 units, assuming five years means rolling out slightly more than two units a year. This is doable, so is building close.
First, the principal business model is different – express exterior instead of self-service or in-bays at gas sites.
The investor base is different – mostly owners of regional chains and private equity backed investors and fewer mom and pop.
Purpose is different – more real estate plays instead of owner/operators.
Attitude is different. I’ve done a little work for private equity firms. They view industry as another retail space to exploit (consolidate) where as mom and pop views carwash as occupation.
Florida and other markets are still ripe for express. Tourists and snowbirds have money, lots of lazy people, and plenty of cheapskates to buy into $3.00 or $4.00 base price.
However, NASCAR base price is $6.00 so I don’t know.
Also, notice how folks did not build new NASCAR next to WAWA and Thorntons at Starkey/Ulmerton in Largo but instead built a bigger site near Belcher/Ulmerton (cheaper land, easier access).
NASCAR also built express within one mile of Mister Carwash on Park Blvd. in Seminole.
I just got back from vacation so I plan to visit and do some car counting soon.
“….building one every 2 miles on a 25 mile stretch of highway….” At “….average total cost is 4 million….”
$48 million has to be private equity, hard money or franchise. 12 units, assuming five years means rolling out slightly more than two units a year. This is doable, so is building close.
