What's new
By:
Car Wash Forum

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Any Self-Serves for sale in Greater Cincinnati area?

C

cincycarwash

New member
Hello,

Curious if anyone in the GCA is looking to sell their wash, or knows of anyone selling? Ideally self-serve, but open to others.

Have seen a few on loop net, but people are asking an arm and a leg (like $400k for a wash that does $45k/year).

Thanks!
 
You should not jump to conclusions about the wash. While on a cash flow basis the asking price seems high depending on the details it might be a good value. It may have good equipment and a bad/absent operator. Do an evaluation as overpaying (based on CF) for a great location makes more sense than getting a cheap wash that is a poor location.
 
Roz said:
You should not jump to conclusions about the wash. While on a cash flow basis the asking price seems high depending on the details it might be a good value. It may have good equipment and a bad/absent operator. Do an evaluation as overpaying (based on CF) for a great location makes more sense than getting a cheap wash that is a poor location.
Click to expand...

Yes, agreed. But I have done evaluations on 3 washes that are for sale and each one is wildly overpriced. In the example I gave the expenses were almost double than the best month’s income. I have evaluated them and had others do the same.
 
cincycarwash said:
Yes, agreed. But I have done evaluations on 3 washes that are for sale and each one is wildly overpriced. In the example I gave the expenses were almost double than the best month’s income. I have evaluated them and had others do the same.
Click to expand...
Evaluate the location, building, and equipment. Expenses that are high may be the sign of a poor operator or a water line that is broken.

my first wash was purchased at an auction. Based on the cash flow (less than your number) I overpaid by a huge amount (about the ask price above). All the equipment was on the last legs and beyond repair.

Knowing what I know how the place operates today I am Uber glad I took the leap of faith. Led me to purchase two more washes and I continue to look at others for sale on a regular basis.
 
Last edited:
cincycarwash said:
Hello,

Curious if anyone in the GCA is looking to sell their wash, or knows of anyone selling? Ideally self-serve, but open to others.

Have seen a few on loop net, but people are asking an arm and a leg (like $400k for a wash that does $45k/year).

Thanks!
[/QUOTE

do u have current washes in GCA?
Click to expand...
 
There are a few car washes for sale in the Puget Sound area of Washington state and a few run down car washes have sold for over $800,000. I'm thinking about selling out soon, the dirt my car wash sits on makes it not worth having a self-serve car wash on it. Self-serve car washes are slowly dying here.
 
OurTown said:
Dayton Ohio is the same way. Almost all car washes that come on the market are overpriced IMO.
Click to expand...
Same here too. There are washes that are not viable to operate, so you would think they'd sell for land value or less since the building needs to be bulldozed and the pits dug up. Nope, they're asking 2-3 times what it should realistically be worth. I've made reasonable offers on several and don't even get a reply.
 
cincycarwash said:
Hello,

Curious if anyone in the GCA is looking to sell their wash, or knows of anyone selling? Ideally self-serve, but open to others.

Have seen a few on loop net, but people are asking an arm and a leg (like $400k for a wash that does $45k/year).

Thanks!
Click to expand...

What do you consider the GCA? How far out are you willing to go? I live about 30 miles from Cincinnati and considered GCA.
 
chaz said:
Where are your current Cinn washes . I have one wash in Norwood
Click to expand...

Hey Chaz, I’m a football coach for Norwood high school, and with you being an owner in the local area, I’d love to chat with you sometime as I’m looking into purchasing my first wash, but have questions only someone with experience could answer. I look forward to hearing from you!
 
You must log in or register to reply here.
Back
Top