Self Serve Wash for sell across from my existing business.

[String77]

I have a local owner who has approached me about selling a 2 bay self serve wash. It is directly across from me and I can watch the operations throughout the day at my current business. We have not had a formal audit yet.

The facility is in good shape and maintained regularly. It has coin operation as well as newly installed card readers.
It is is in a very small town with another car wash about 10 blocks away. I would estimate the available facility in question earns 75% of local business.

The rough annual numbers are 42k revenue, 2-3k or for water, with maintenance numbers to follow.

There is an additional lot that he would sell to me later directly behind the wash for future development.

He may be open to owner financing. Any valuation advice or suggestions appreciated!

 

[Dan kamsickas]

I have a local owner who has approached me about selling a 2 bay self serve wash. It is directly across from me and I can watch the operations throughout the day at my current business. We have not had a formal audit yet.

The facility is in good shape and maintained regularly. It has coin operation as well as newly installed card readers.
It is is in a very small town with another car wash about 10 blocks away. I would estimate the available facility in question earns 75% of local business.

The rough annual numbers are 42k revenue, 2-3k or for water, with maintenance numbers to follow.

There is an additional lot that he would sell to me later directly behind the wash for future development.

He may be open to owner financing. Any valuation advice or suggestions appreciated!

Tax returns are the only numbers you can trust.
If you don't know anything about a car wash, find a tech or service company to inspect everything. At the minimum get names, serial numbers, part numbers, and even pictures of all equipment and contact the manufacturer to find out if A) They are still in business and B) still support the equipment. I've had far too many conversations with people over the last few years who've bought washes without doing that and they are up the creek because they have trash equipment and no support for it.

 

[cbchevy4x4]

I wouldn't waste my time on 42K annually. Insurance, Personal Property Taxes, Real Estate Taxes, and the Utilities will probably eat most of that up.,

 

[kentadel]

How small is the town?

 

[washnshine]

Also consider what you could do with that additional lot - an IBA or two might justify the purchase of the price is right and your town can support it.