Recent content by Axxlrod

Your biggest hurdle, besides being a complete newb, is your market. LA real estate is insanely expensive to both buy or lease. Car Washes on leases are rather common in major cities. About half the washes I know personally in the greater LA area are leased, and most of those are high-dollar...

Leases can definitely work if structured fairly and properly; this one doesn't sound like that.

Your what?

LA is going to be a tough market to start up in. Most (all) the gas stations are owned by large corporations, and even if you find one that is willing to lease out the car wash, I imagine the rent is going to be expensive. As with any leased facility, you need a long lease to give yourself...

To do what? Dry the back of suv's? Sonny's has the flipping nozzles.

Confusing. I assume you guys are actually referring to tokens valued at one dollar and not actual "dollar coins" (Golden dollar). I see no point in vending tokens while also still accepting quarters. You still have to sort and deposit quarters which is a pain. If you go tokens, then go all...

Great. Welcome. What type of wash are you interested in?

I guess that is true in many places, but not in CA. No one is building new SS washes here; they don't pencil out.

Keep going. Your customers will adapt. I have never accepted quarters. My facilities cost several million to build; I want my customers to think in dollars and not quarters. This isn't 1987. I dispense $1 tokens, and accept bills and cc in the bays. Vacs and vending are token only although...

Another "I saw on Youtube how easy it is make bank with a car wash. I demand you industry veterans tell me how to do it". Ugh. Getting so tiring. OP, Most of us here help and offer advice to many newcomers asking the same same questions... but if you're going to be rude, none of us will help...

Buyer was a large chain. No loan needed. Site does $5M+ annually, so it pencils for them.

That one was a very busy wash with a long lease. Land is expensive here in CA. And existing car washes are extremely valuable because new ones are so exponentially hard to get approved. For example, I've been trying to get a new express wash approved in a nearby beach city for years. Been...

Depends on the numbers. I sold a leased car wash for 8 figures last year. 20 years is about the min I would consider. If you need financing, a bank will only lend for a maximum of the lease term. Make sure you run the numbers so you know what kind of payment you would be signing on for.

First things first. Since RE is not included, you are basically buying a license to operate (lease). What are the lease terms? How many years remaining? Options?

The PE guys are sleeping just fine. It was never their own money. It was OPM; that's why they would pay so much for existing washes. What did they care...