Valuing a nearly abandoned SS site

[Washwannabe]

Yes, we are very happy with the outcome. That was four years ago now and I would do it again. We tore out an old Hydrospray IBA when we bought it and installed a used Laser 4000. About a week ago we tore out the Laser 4000 and will be installing a Razor in about a month. I will say that a feasibility study or a concept study is a GREAT idea. We did this and it was the absolute best money we spent on the entire project. Even if it was only confirming what we already thought was true.

Who did you use for the study?

 

[bert79]

Who did you use for the study?

This may get some responses because he was not always the most tactful member on this site (he used to be very active on this forum but has not been active in quite some time.) I do not say this to disparage him in any way because I have a lot of respect for his knowledge. We used Robert Roman and were very happy. We chose him because I knew he would be highly critical. We only chose to go forward if he came back witha positive review on the property and business plan. He did a wonderful job for us. He provided us with a very comprehensive analysis of the site and the business opportunity there. His website is www.carwashplan.com. I'm sure there are plenty of others that would do a good job as well. Just sharing because you asked and it may help others as well.

 

[Washwannabe]

Yes, we are very happy with the outcome. That was four years ago now and I would do it again. We tore out an old Hydrospray IBA when we bought it and installed a used Laser 4000. About a week ago we tore out the Laser 4000 and will be installing a Razor in about a month. I will say that a feasibility study or a concept study is a GREAT idea. We did this and it was the absolute best money we spent on the entire project. Even if it was only confirming what we already thought was true.

Thank you. Very useful info. Will you share the cost to install the EDGE?

 

[bert79]

12k for install labor and around 11k for electrical. I would figure on 25-30k total to be safe.

 

[Washwannabe]

12k for install labor and around 11k for electrical. I would figure on 25-30k total to be safe.

On a percentage basis how much more revenue compared to the self serve bays?

 

[bert79]

about 60% IBA and 40% SS

 

[Washwannabe]

about 60% IBA and 40% SS

Again, thank you....hope to mirror your success.

 

[MEP001]

How have you increased your net by that much?

I actually increased my gross by about 300% and did so by keeping it clean, checking everything every day, and using good soaps and being generous with them. Years ago I improved a wash by 1100% by doing the same thing.

 

[edredtop]

I actually increased my gross by about 300% and did so by keeping it clean, checking everything every day, and using good soaps and being generous with them. Years ago I improved a wash by 1100% by doing the same thing.

Apologies if this has been asked and answered, but if you don't mind sharing, what brand/kind of soaps do you use MEP?

 

[MEP001]

Apologies if this has been asked and answered, but if you don't mind sharing, what brand/kind of soaps do you use MEP?

I use Scotch Plaid, but I blend two products for tire cleaner, presoak, and foam brush that give a better result at a lower cost. I could do the same thing with Simoniz products, but I get what I use at cost.

 

[edredtop]

I use Scotch Plaid, but I blend two products for tire cleaner, presoak, and foam brush that give a better result at a lower cost. I could do the same thing with Simoniz products, but I get what I use at cost.

Do you use high pH soaps? I admit ignorance on this topic and have avoided strong soaps after being assured they were safe to use at my wash by a local supplier. No sooner than we (the supplier and I) mixed the soaps, I watched my aluminium pick up tube dissolve away. It wasn't a big leap in my mind to think about other components used in the delivery system not to mention many automobile rims are made from aluminium too..
Been gun-shy ever since and have used the dish soap Kleen Rite sells ever since. It works OK, smells and looks good, but I know there's way better performing soaps to be had.

 

[MEP001]

Do you use high pH soaps?

The presoak is very high pH, but it hasn't eaten through any of the brass parts. If it does, I'll rebuild them with stainless.

 

[Dan kamsickas]

I actually increased my gross by about 300% and did so by keeping it clean, checking everything every day, and using good soaps and being generous with them. Years ago I improved a wash by 1100% by doing the same thing.

Radical concept

 

[edredtop]

The presoak is very high pH, but it hasn't eaten through any of the brass parts. If it does, I'll rebuild them with stainless.

Appreciate the info.

 

[Washwannabe]

Again, I appreciate all the input. For those who are interested here is the link to the discussed property. The owner (of one year) will not accept anything less than 500K. (Out of his mind). My broker estimates the "dirt" to be worth no more than 100K. I will keep looking. Happy holiday weekend. https://www.loopnet.com/Listing/305...t_broker_form_expanded&utm_content=&utm_term=

 

[edredtop]

Here in California I'd take 2 at that price.

 

[Dan kamsickas]

Again, I appreciate all the input. For those who are interested here is the link to the discussed property. The owner (of one year) will not accept anything less than 500K. (Out of his mind). My broker estimates the "dirt" to be worth no more than 100K. I will keep looking. Happy holiday weekend. https://www.loopnet.com/Listing/305...t_broker_form_expanded&utm_content=&utm_term=

$500K? For that? In that location? Check back in a year and see if he comes to his senses.

 

[Washwannabe]

Here in California I'd take 2 at that price.

You must be doing a lot more than $1500 per bay in CA

 

[Randy]

So the current owner has only owned the car wash for a year and he’s now wanting to sell it, it looks like it’s been for sale for a while. I wonder how he paid for the car wash a year ago? Looking at the pictures it needs a lot more than just some TLC

 

[eckert16]

Subject is on a skipped road, meanwhile, just to the north, ...a $5 soft cloth tunnel... on the main road and intersection, with better traffic counts