Bubbles Galore
Active member
I am looking at purchasing 2 washes right now, one is a 6 bay self serve and the other is a 110' tunnel with Hanna equipment. The tunnel is "old" but all the hanna equipment was installed new in 2002.
Here's my problem, the owner ran it from 02-05 and then shut down to pursue other interests. At this point, he is leasing month to month to someone who is running it like sh*t (I can make that assumption because I took my truck through the tunnel and it came out dirtier and scratched than it was going in).
He gave me P/L statements and car counts from 02-05 (roughly $150k gross with about 30k cars), but I am sure that those numbers aren't representative of what they are doing today.
While still negotiable, he said that he would give me the 6 bay self serve and the 110' tunnel for $400k.
Here are my questions for you tunnel guys. What kind of assumptions can I make about any of the info I posted? I don't think I can get accurate car counts or income statements from the current owner. If I had to do a complete rehab of the tunnel, what would that cost me? I'm trying to make some educated guesses, but I am completely out of my element here.
Here's my problem, the owner ran it from 02-05 and then shut down to pursue other interests. At this point, he is leasing month to month to someone who is running it like sh*t (I can make that assumption because I took my truck through the tunnel and it came out dirtier and scratched than it was going in).
He gave me P/L statements and car counts from 02-05 (roughly $150k gross with about 30k cars), but I am sure that those numbers aren't representative of what they are doing today.
While still negotiable, he said that he would give me the 6 bay self serve and the 110' tunnel for $400k.
Here are my questions for you tunnel guys. What kind of assumptions can I make about any of the info I posted? I don't think I can get accurate car counts or income statements from the current owner. If I had to do a complete rehab of the tunnel, what would that cost me? I'm trying to make some educated guesses, but I am completely out of my element here.