This car wash has been in business for 30 years and is in an area that is experiencing growth. There are 8 bays and 11 vacuums. There are 7 apartment complexes with a minimum of 150 units each located within 3 miles of the business.
The business is being offered for sale in conjunction with the Real Estate, which has a listing price of $367,000 (represented by David Stone of Murphy Business & Financial, see listing #R00018). The Seller Discretionary Earnings (SDE) shown includes a charge of $30,000 for rent. When combined with the SDE, results in $56,463 in cash flow available to owner of the land/business. The Business with the Real Estate has been Lender pre-qualified with $91,980 down and $367,920 for 264 months @ 6.5%.
The business is kept in immaculate condition. Credit card swipes were installed for the washes in 2014. Hoses are changed on a regular basis, the decals are changed every 2 years and the equipment maintained on a regular basis. LED lighting was installed over 2015/2016.
The growth potential comes from the continued construction of apartments, installing credit card swipes on the vacuums and the potential of partnering with a car detailer on the premises.
This is the only full service car wash in a two miles radius. There is a 2 bay drive through car was less than a mile away and a full service car wash approximately 1.5 miles away. Both of the competitors have been in business for for multiple years so there impact has already been accounted for.
The property is owned by 3 individuals in different states. They would like to liquidate their position.
Will train for 4 weeks @ no cost. This business is run with a minimal time commitment from the owner/operator. The credit card swipes installed in 2014 further minimized time requirements. The grounds need to be maintained, the coins are collected every few days, hoses changed and equipment maintained as required.