Not really sure...
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Another Newbie-1st Post-Value of Existing Wash?
- Thread starter Dave1972
- Start date
Not really sure...
cwguy.com
The Eric
I can still remember what I paid for my property! Maybe when I get as old as everyone else I will sell? JK or am I? LOL
I have learned from you and Paul.... there is a buyer for anything! But I still love you Dave!
People just need to lighten up a little.... you only live once I think? Depends on your religion. (Let's argue about religion now!) Plus that thing about MJ I don't think was true!
Earl Weiss
Well-known member
1. I am no Czar, far from it. If I were a Czar I'd be on a beach sucking on Pina Coladas instead of a putz working 2.5 jobs 7 days a week trying to wash cars when it's 5 degrees.
2. No issues, or apolgies needed. If you are ever in the Chicago area, look me up --- we'll go for a bite to eat.
Earl Weiss
Well-known member
Like many things, it looks rosy from the outside looking in. When things are all humming along nicely it's great. Other times it's "Murphy's law" in action.
I'd like to get into the legal a marijuana business.
Well, you've heard some of the bad news. The good news is that if you figure it out it can be a good business. I bitch and moan, but I make more money than most other person that works the same number of hours as me every week. I don't think I could get a job anywhere else paying myself what this one does without working tons of overtime.
The big downside is that a carwash is like having a farm. The cows have to milked every day. The work slows but never completely stops. I'm there, if only for a little while, 365 days per year unless I'm out of town. It's a weekend business. While everyone else with 40 hour jobs is at the park with their kids, guess where you will probably be. I'm tired of the mess and the attitude of some (SS)customers. I cringe every time a strange phone number pops up on my caller ID. But hey, it could be much worse. I could be running cash register at my restaurant, stuck there every day,all day.
I guess I could shut down and go on a vacation like many small mom and pop businesses do. I'm just too greedy and afraid a customer won't come back.
IMO, contributing factors to long term success in this business include:
1)Not paying too much for a wash
2) Getting the wash paid for as quickly as practical so that you don't end up upside down in the wash over any period of time.
3)Keeping everything clean and operating well.
4) Not cleaning up the wash yourself- (I really wish I had followed my own advice on this one). it wrecks your attitude over the long term. Save your energy for improvements, customer relations, marketing and repairs.
5)Having someone technically capable of taking the wash off your hands for a few days so you can take a vacation without the phone ringing while you're riding Its a small world in the Magic Kingdom.
6)Not paying too much for the wash
7) Get technically proficient for most repairs
8)Not paying too much for a wash
I'm sure many experienced operators could add many more.
But Yes, I believe this business is in a permanent state of slow decline. Express washes have wreaked havoc on the model in metro areas. They are cheaper and quicker and a better value for the smart consumer. I can't envision a scenario where the pendulum will swing back towards SS washing. My income has remained somewhat stable, but a big contributing factor has been mass closings of SS/IBA washes in my metro area. The niche for SS/IBA will be in smaller markets where express washes can't do enough business to make their numbers work.
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Whale of a Wash
5 Washes 36Bays 2Vectors
-- Why not go to the guy in your town with the best wash-- probably tired and burned out, and looking for an offer, see what they would want.. Day 1 probably a money making venture and a better buy in the long run. It would also eliminate the competition that makes it impossible for you to ever make a profit. Also has anyone heard of the new OBAMA law- it applies to my apt bldgs.. Expenses made to the structure that you could deduct the year in which it was incurred, will now be depreciated at the same rate that you depreciate the building.--- More taxes
2Biz
Thread Killer!
Good question, one I’ve been thinking about the past few days. I’m 53. Unlike mmurra, the wash was supposed to be part of my exit plan from the 6:30-4:00 normal paying job. I’ve lost so much over the years from, what should have been good investments, that my wife convinced me we needed to try something different. Something we were more in control of.….We bought the wash in hopes that it would supplement our retirement with minimal effort and help with the money needed for retirement. I’m fearing we were wrong with the decision we made. 3 years into this and It feels like we’ve spent more money than we’ve made. The wash we bought is only a 4 bay, sort of like what your looking at as far as work needing done. Lights that didn’t work, bays down, floor heat that didn’t work, tanks needing pumped, etc, etc. The light didn’t come on for us….We bought based on emotion and the facts never entered into the equation.
Some of the things I’ve learned in the past 3 years. Maybe this will help you.
1. First and foremost, I should have joined here before buying instead of after when I was in trouble!
2. Before purchasing, I should have asked for water/utility records to make sure usage matched recorded income. How could our first year bay income be less than half of what was recorded on the PO’s tax returns?
3. I didn’t know we had to get yearly back flow prevention inspections. $200.00 a year.
4. I didn’t know how hard it was going to be to get someone to pump our outside pits and how much it cost.
5. I didn’t know that when shoveling the bay pits, sometimes the black nasty water would splash you in the face.
6. Sometimes people bring in cattle trailers and wash $hit out of the trailer and it runs all down the ramp taking you hrs to clean up.
7. People will crap in the bays.
8. People dump garbage/tires or what ever in the bays and pile it up at the garbage cans for you to clean up.
9. People try to steal from you, and succeed, causing you to have to put in expensive camera/surveillance systems. That’s no guarantee that the thefts/vandalism will stop.
10. There were no schematics/wiring diagrams/parts lists/manuals. And I don’t have any autos…This was a huge challenge making/designing schematics/creating parts lists to make it easier to work on every aspect of the wash. Do you get diagrams/parts lists with your wash?
The list goes on and on…. The Things the PO didn’t fill me in on!
The good: Buying this wash has forced me to learn a lot of new things. I do get personal satisfaction out of trying something new and it works for the better. I’ve received a tremendous amount of help here on the forum, but I have also given back. Like CFL lighting and using a Condensing Demand Heater for floor heat. I’ve saved hundreds of $$$ a month making those changes and brought that knowledge to the forum members. I keep hoping the changes I’ve made will eventually make a difference. My wife and I are depending on it for retirement. Or will I get burnt out before I get there. Time will tell....
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Earl Weiss
Well-known member
Speaking of "Car Wash Czars" Those that have been around a while know the roadside is littered with those that tried and failed.
One outfit offered to buy my places but was going to pay me in stock. Glad i didn't take it since the outfit went bust.
One outfit offered to buy my places but was going to pay me in stock. Glad i didn't take it since the outfit went bust.
Ghetto Wash
Active member
Shop around. I pay $40 per backflow, one at each wash.
cwguy.com
The Eric
My backflow preventer broke and I was in the process of replacing it.... Then I got a letter under my door stating my device didn't work. So why can't your city just check where you are located? Your city basically created a whole industry of companies checking businesses backflow preventer?
Dave don’t let these guys get under your skin. The car wash business is the best thing since Prime Rib and Cheesecake. We’ve been in it 32 years and love it. When I was a young man I used to work 60 hours a week on my day job and run the car wash at nights and weekends. I couldn’t have done it without the support of my wife, she also loves the car wash business.
I found the car wash your interested in on Google Street view, it’s a nice looking facility. It needs a little TLC but most the car washes do. If I was younger I’d buy it. If you run it right the car wash business can be very rewarding. But it takes a tremendous amount of commitment, more commitment than most people want to give. 32 years and I’m still learning new things every day. Like I said I’d buy it.
robert roman
Bob Roman
“When I was a young man I used to work 60 hours a week on my day job and run the car wash at nights and weekends. I couldn’t have done it without the support of my wife, she also loves the car wash business.”
“If you run it right the car wash business can be very rewarding. But it takes a tremendous amount of commitment, more commitment than most people want to give”
Dave,
I don’t agree with Randy’s jump in head first approach but he did underscore key factors for success.
Willingness to work long hours (i.e. 60 plus carwash)
Having the right support (i.e. good wife, partner, etc)
Commitment because the carwash must be taken care of 365 days a year
I’ll add, a willingness to save money
“If you run it right the car wash business can be very rewarding. But it takes a tremendous amount of commitment, more commitment than most people want to give”
Dave,
I don’t agree with Randy’s jump in head first approach but he did underscore key factors for success.
Willingness to work long hours (i.e. 60 plus carwash)
Having the right support (i.e. good wife, partner, etc)
Commitment because the carwash must be taken care of 365 days a year
I’ll add, a willingness to save money
Earl Weiss
Well-known member
I'll take cheesecake.
Dave1972, Now your on the right track. Try to work a deal with the owner to let you work the car wash so you can get a good feel of the business. I ran my car wash for over a year before I bought it.
There are 5 car washes for sale in my area, including mine. 3 have been sold numerous times/taken back, they are currently closed. Those 3 are dogs and are in need of a complete remodel, asking price is somewhere around $375K - 400K each. My car wash and the other wash are for sale for land value only. The only problem is the land that car washes sit on is worth way more than the car washes are worth. Both of these car washes sit on over an acre and a half.
There are 5 car washes for sale in my area, including mine. 3 have been sold numerous times/taken back, they are currently closed. Those 3 are dogs and are in need of a complete remodel, asking price is somewhere around $375K - 400K each. My car wash and the other wash are for sale for land value only. The only problem is the land that car washes sit on is worth way more than the car washes are worth. Both of these car washes sit on over an acre and a half.
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