Looking for input from this veteran group of carwash owners. I’m currently running a 4 bay SS location. It’s located in a small town and the income covers expenses and plus a little profit in the bank. It’s a nice carwash, just in the wrong location. There is a carwash in the neighboring town that is roughly 10 minutes from my house. Great location with high traffic. I inquired about the carwash recently with the owner, mentioning if they were ever interested in selling the wash I would like to chat with them. He actually told me then that he was looking to get out of the carwash business due to other business adventures he is starting up. Here’s the kicker, he owns two washes and is selling both together. The second location is 35 minute drive from the house. This location he has a local retired individual wash down and pick up trash during the week. He has a camera system to watch over the site and only goes 2 or 3 times a week. In your opinion, do you feel that this site should be visited more often than 2-3 times a week? I’m really interested in the location that is 10 minutes from the house. I just hate to miss out on that location by not purchasing because of the travel time to the 2nd location.
The current owner provided appraisals for both locations from 2020. Going off of these appraisals it is well worth purchasing with roughly 180k of equity from the jump.
What is your input and thoughts on this?
The current owner provided appraisals for both locations from 2020. Going off of these appraisals it is well worth purchasing with roughly 180k of equity from the jump.
What is your input and thoughts on this?
