Newbie looking for advice

[newbe]

Some background... I live in the midwest and have never owned a car wash but I'm a DIYer and can fix many things on my own.

Recently a 6 self-serve bays with one 1 automatic touchless bay car wash popped up on the market. I have been driving by it to work everyday for the last 10 years. It's located not on a super busy street but it's in a relatively good area. It does need some TLC. The automatic bay is dated and seems to break down a bit and self service bays have dated equipment as well. The next closest self service car wash is about 10 miles away.

I started looking into it a bit and so far I found out it makes about 120K revenue per year.

On a high level do you guys think it's worth looking into this a bit more? What to look for, what to ask the owner? How much would it cost to outfit a new automatic touchless bay? How much does it cost to install new equipment for self service bays?
Any insight greatly appreciated!

 

[ShinePro]

Some background... I live in the midwest and have never owned a car wash but I'm a DIYer and can fix many things on my own.

Recently a 6 self-serve bays with one 1 automatic touchless bay car wash popped up on the market. I have been driving by it to work everyday for the last 10 years. It's located not on a super busy street but it's in a relatively good area. It does need some TLC. The automatic bay is dated and seems to break down a bit and self service bays have dated equipment as well. The next closest self service car wash is about 10 miles away.

I started looking into it a bit and so far I found out it makes about 120K revenue per year.

On a high level do you guys think it's worth looking into this a bit more? What to look for, what to ask the owner? How much would it cost to outfit a new automatic touchless bay? How much does it cost to install new equipment for self service bays?
Any insight greatly appreciated!

 

[ShinePro]

I’ll talk to you
I have own 2 washes that size
Give me a call
937-605-4751


Some background... I live in the midwest and have never owned a car wash but I'm a DIYer and can fix many things on my own.

Recently a 6 self-serve bays with one 1 automatic touchless bay car wash popped up on the market. I have been driving by it to work everyday for the last 10 years. It's located not on a super busy street but it's in a relatively good area. It does need some TLC. The automatic bay is dated and seems to break down a bit and self service bays have dated equipment as well. The next closest self service car wash is about 10 miles away.

I started looking into it a bit and so far I found out it makes about 120K revenue per year.

On a high level do you guys think it's worth looking into this a bit more? What to look for, what to ask the owner? How much would it cost to outfit a new automatic touchless bay? How much does it cost to install new equipment for self service bays?
Any insight greatly appreciated!

 

[Rapidoil]

It's probably worth 2-3 gross and a new in bay auto costs about 200000 or more with all the supporting stuff. I would only base an offer on what you see on the tax returns. All this is my opinion of course.

 

[newbe]

Thanks everyone for the info!

As far as regular equipment upkeep for a self service bay, what are the typical costs to maintain it throughout the year? What do you guys typically budget for that? Also, is that something I can fix on my own or do you need any specialized skills?