questions to be asked to seller

[kunalamin]

Hello,

I`m going to see existing self serve car wash. I`m kind a newbie. I have been talking to a seller for last couple of months. as a being a new owner what questions should I ask to the seller.
he has already showed me his P&L, gave me a tour of his carwash also showed me how to operate all the machines and ready to give me a training for first week and after incase I need to ask anything.
Thank you

 

[Dan kamsickas]

Take the P&L with grain of salt. They can be easily cooked to show whatever the owner wants. Ask to see 3 years of tax returns.

How old is the equipment?
Does he have maintenance records?
Is the manufacturer still in business? If yes, is it a model that is still supported by the manufacturer?
Is there a reliable service company close by because I've seen more than once a seller say they will be around to help after close of sale and then disappear. A week of training is not even remotely enough.

 

[kunalamin]

Take the P&L with grain of salt. They can be easily cooked to show whatever the owner wants. Ask to see 3 years of tax returns.

How old is the equipment?
Does he have maintenance records?
Is the manufacturer still in business? If yes, is it a model that is still supported by the manufacturer?
Is there a reliable service company close by because I've seen more than once a seller say they will be around to help after close of sale and then disappear. A week of training is not even remotely enough.

thank you for reply
he just sent me two yrs tax return.
and gave me the numbers of all techies who come and work on the machines. but I will still ask him about support of manufacturer and one or two additional weeks of training.
thank you

 

[OurTown]

A week of training is not even remotely enough.

I got one day. LOL. A week would have been awesome.

 

[Dan kamsickas]

I got one day. LOL. A week would have been awesome.

What's to learn? You just show up a couple times a week, empty the trash, check soap levels, and collect your piles of cash. I saw it on youtube so it has to be true.

 

[gomerpyle]

I would recommend having the tech/sales come to go over the equipment with you. I did that when I purchased mine and they were very helpful.

 

[Dan kamsickas]

and gave me the numbers of all techies who come and work on the machines.

If he's having to pay techs all the time that tells me he wasn't making money(techs are expensive) and he wasn't hands on much at all and probably can't teach you much. I wouldn't be stunned if some of those techs jack-legged a lot of things.

I will still ask him about support of manufacturer and one or two additional weeks of training.
thank you

Nope. Get the manufacturer and model numbers off all the equipment yourself. Get some pictures if possible also. Contact the manufacturers yourself. I've had more than a few buyers take the owners word for it, called me for support after the purchase, and were not happy when they found out that the equipment was long obsolete.

 

[Dan kamsickas]

I would recommend having the tech/sales come to go over the equipment with you. I did that when I purchased mine and they were very helpful.

This is very good advice. No different than getting a professional inspection on a house before buying.