4 bay question (2/2)

[washnvac]

Anyone have a 4 bay wash with 2 ibas and 2 s/s? If so, could you tell me total iba sales as a percentage of gross? Then also, total credit card sales as a percentage of gross iba sales.

Looking at a wash in bankruptcy, and all we have is the credit card sales from the ibas. I am trying to estimate the total gross. My current washes are all bigger, and I think the numbers will work out differently.

Thanks in advance.

 

[MikeV]

I think my first question would be...Why did it go bankrupt?

 

[washnvac]

I think my first question would be...Why did it go bankrupt?

Many reasons. Owner was sucking equity out of all locations to do other locations. When times were good, appraisals were high, everything kept rolling along. Now that times are not so good, they have been falling down--one after the other. The debt loads are/were simply too high. No funds to repair broken equipment, advertise, etc.

I have 4 locations that are 4/2s or bigger. I am just not sure if plugging in my percentages would give at accurate estimate. With only 2 ss and 2 ibas, I am not sure if the iba percentage of gross sales would be even higher that my 4/2s. That is what I am fishing for.

 

[Waxman]

For me 2 ss bays = 1 iba; roughly for gross recepits. The second IBA skews your total for sure compared to mine. I wouldn't expect both iba's to double one ss bay, for example.

 

[washnvac]

It is not an exact formula. At my busiest 4/2, the 2 ibas do 70% of the entire gross. Credit card sales are 56% of the iba gross.