I've got a more expensive wash proposition.
This is in the next town over from me, where my parents live and my dad actually found that it might be for sale. He knows the owner and it's not listed for sale but the owner is tired of it he says.
It's a 4 bay SS with a tall covered truck bay. It's got a lot of new pumps and equipment and has a pit cleaner machine and a small auto detail shop that is not used now. The building itself it about 20 years old and needs cleaned and maybe some new metal fascia. I'm guessing $5k would spruce it up a lot.
So he's asking $150k and claimed sales are $45k with expenses about $8000/year. Again that is claimed and seems off to me, I would expect about 40% expenses on those sales. We're waiting to see if he will provide tax returns and profit loss statements.
It's located at the main busy intersection of 2 highways in a rural town of about 5k in oklahoma with another wash that is cleaner and very busy but not in as good of a location. The cleaner wash sold for about $200k recently so that's a good data point I think.
Anyway, seeking opinions in case my dad thinks of buying it. I won't be ready to buy another one until I gain some experience on my cheap wash!
This is in the next town over from me, where my parents live and my dad actually found that it might be for sale. He knows the owner and it's not listed for sale but the owner is tired of it he says.
It's a 4 bay SS with a tall covered truck bay. It's got a lot of new pumps and equipment and has a pit cleaner machine and a small auto detail shop that is not used now. The building itself it about 20 years old and needs cleaned and maybe some new metal fascia. I'm guessing $5k would spruce it up a lot.
So he's asking $150k and claimed sales are $45k with expenses about $8000/year. Again that is claimed and seems off to me, I would expect about 40% expenses on those sales. We're waiting to see if he will provide tax returns and profit loss statements.
It's located at the main busy intersection of 2 highways in a rural town of about 5k in oklahoma with another wash that is cleaner and very busy but not in as good of a location. The cleaner wash sold for about $200k recently so that's a good data point I think.
Anyway, seeking opinions in case my dad thinks of buying it. I won't be ready to buy another one until I gain some experience on my cheap wash!
