Is it worth it? Self serve purchase advice

[snshamwow]

Thinking about buying a SS car wash with 3 self-bays and one automatic bay. Also has RV washer on the outside (setup but no payment terminal or hosing), but I don't plan on utilizing that.

Summary:

• Listed for 200k, can get it down to 150k. Selling because he is old.
• 11,000 cars pass on the road each day
• Automatic bay makes 2k a month and vacuums/self wash make 3k.
• Has a Mark VII GT-300 in the automatic bay and all self bays are functional with all equipment present (bill exchanger, air compressor, RO system, heated pavement, pumps motors etc.)
• Only issue is needs new water meter because of water main break. all other plumbing is fine.
• Can seller-finance

I'm thinking I would need <5k to get it to optimal performance/efficiency and to make it look a whole lot nicer (just paint and stuff, looks modern and clean as is), also thinking about increasing prices as they've been the same for over 4 years.

What do you guys think?

 

[CarWashBoy]

Thinking about buying a SS car wash with 3 self-bays and one automatic bay. Also has RV washer on the outside (setup but no payment terminal or hosing), but I don't plan on utilizing that.

Summary:

• Listed for 200k, can get it down to 150k. Selling because he is old.
• 11,000 cars pass on the road each day
• Automatic bay makes 2k a month and vacuums/self wash make 3k.
• Has a Mark VII GT-300 in the automatic bay and all self bays are functional with all equipment present (bill exchanger, air compressor, RO system, heated pavement, pumps motors etc.)
• Only issue is needs new water meter because of water main break. all other plumbing is fine.
• Can seller-finance

I'm thinking I would need <5k to get it to optimal performance/efficiency and to make it look a whole lot nicer (just paint and stuff, looks modern and clean as is), also thinking about increasing prices as they've been the same for over 4 years.

What do you guys think?

Buy it!

 

[OurTown]

On the surface it doesn't sound too bad if there is more potential. What is the competition like and are there express exterior washes being built yet around there? $60K/year gross income, right? Will it make enough money the way it is with a loan to be worth it? There is more work than most people think and if you have employees it might make practically nothing after the smoke clears.

 

[Rfreeman]

I would do it at those numbers. Anything over and above is just a bonus.

 

[Greg Pack]

Sounds like a good enough deal on the surface, this is assuming land is included

 

[traveler17]

Buy it!! Even a bonus if owner financing. If it’s in NC and you don’t do it let me know. I’ll buy it

 

[Island_Landlord]

Seller financing is keys to the kingdom. Do a basic napkin math: Principal, interest, taxes, insurance, gross income. Subtract. If it cash flows rock and roll. Also- find a distributor in your area. They can get you gross estimates, pricing info on competitors and provide advice on what you could do to make it more profitable.