four years ago i leased a detail shop located at the front of a self serve wash. the owner of the wash purchased it right before i leased the detail shop, which they initialy tried to run themselves and failed, and now he wants me to lease the wash also. he put in three ss bays and a touchless auto. there is no sign, he changed it to advertise his other business. the wash is hard to see from the street, detail shop in front, then ss bays, then the auto. years ago it was a very successful business, then it sat for a few years then this guy bought it. i am looking for any advice you could give, what is a fair monthly lease cost, what length of lease. i think his failure is due to lack of attention to the wash. they never help customers, they are slow to do repairs, trash piles up, the usual absentee owner stuff.
leasing a self serve wash
- Thread starter Nick
- Start date
MEP001
Well-known member
I would try to find out what his note payment is and try to lease it from him for that. If he's losing money on it now he might be happy just to break even and still earn equity, and he won't be profiting off your hard work if you can turn it around.
I happen to find my 4 bay ss wash at a "STEAL" and also scared to post what I paid for it...."due to someone freaking out or heart attack" I purchased all equipment and lease the building. so I lease the building for 1 year at a time just in case something happens I don't have a long term lease.
