I don't know where your located and the states laws. Here in TX we are a non disclosure state so their assessed values are way under the actual market value.
If your current bldg has a potential gross rent of $16K a month I would lease it it up...approx $17.45/sf.
The good news is sounds like...
Lighting looks great sounds like your on the right path. I think you will notice the customers will appreciate your efforts seeing you working so hard and seeing an improved product and experience.
I know I did at my last wash I purchased a year and half ago.....and still get thank yous and...
A good knowledgeable commercial real estate broker would be a good place to start or ask for any potential lease comparables.
2 potential big issues with ground leases, 1. Property taxes. Here in TX property taxes are a big deal and in ground lease situations the owner of the dirt would still...
You should be able to write off mileage. Not only that those new IBAs you bought you can depreciate that. Also when purchasing the location if any value was assigned to the equipment vs property or land....the portion assigned to equipment you can depreciate that as well. Or at least those new...
No just self serves. It was a great site as well.
The tunnel was a good operator as well. The area was a good ss area and the location was great! This was a shanty looking wash... all metal construction. I cleaned it up with acid and people noticed right away when I took over.
I eventually...
I personally have not been in that situation but I have heard rumblings that a group is looking close to one of my locations.
My second wash I purchased was a under performing 7 bay ss only with a tunnel less than a mile around the corner. The tunnel was on the main street I was on a cross...
Have the same issue coach. I have signs but people don't care, too lazy, etc. On my front brushes I have broken 3 gearboxes bc the brushes get wrapped up on brushes guards. On the back the hitches tear up the bottom of the brushes they are all but gone while the rest of the brushes are okay with...
If you have air as mentioned above next I would check your foam generator. Make sure it's clean and make sure something is in there to generate the foam.
Get a DRS and be done with it. Also once you put in the DRS you wont need the in bay bill acceptors you are thinking about in your other thread. I have 3 DRS machines wouldn't try another one and had Standard, Rowe, and American before
Sounds like your blaming the industry based on declining results of your model. Funny how many of us here are ss operators and I know you won't find me complaining about the financial returns.
Sure I don't have 3, 4, or 5 million in a single site like these express guys but my return on equity...
Hmmmm hiring it out, yes it can but one important factor especially in today's economy finding those people that are reliable.....let me know how that goes for you.....
Get inside an equipment room and check out all the moving parts and let me know what you think. New or used your going to...
Yes sir I know what you are talking about Mep and honestly I forgot to check that but was planning on it today. I am very OCD when it comes to having the floor clean and dry inside the pump room for the sole reason to identify leaks quickly and easily by stains on the ground.
That's why I say to myself a lot being in the car wash business. I can't think of any other plausible explanation. I purchased this location a year and half ago and shut it down for a rehab. Since reopening business has increased every month but burning through almost the entire 5 gallon...
Well I've come to the conclusion either my Mon- Thurs or Fri - Sun guy stole the soap. We were slammed busy this past weekend and I have been marking the bucket daily and we consumed almost an inch on the bucket.
If you guys can't tell me any other plausible way the soap could gone down that...
Again this place or any place for that matter can look like the Taj Mahal but does it make money to justify the investment?
In your case you have $0 but all the potential in the world right.....well do you know how many deals were sold on potential only to flake out?
The wash looks great but...
I wouldn't even look at this deal unless you know that dirt is worth at least $650K. Why the $650K, because it offers you a margin of safety (you can turn around and sell the land) in case the car wash doesn't work out.
This seller is out of their mind or looking for a sucker, maybe both. No...