Listing ID: 66862
This car wash has every advantage needed to generate passive income for decades to come. Amazing location with unbelievable traffic counts, surrounded by new residential development, plenty of property to grow the business and no competition in sight. The sellers custom built this 6 Bay car wash in 2002 and have grown the business organically in a high demand market. It is not unusual to see 5 or 6 vehicles lined up waiting for the touchless wash. There are 5 self serve bays and a one drive thru touchless. In 2020 the Sellers replaced the touchless wash with a new system, just the efficiency of a new system alone increased sales by over $100,000 in 2021. There is more than enough room on the property to expand the wash by adding another touchless bay with ease, this could increase the revenue by another six figures easily. Seller is currently working on a boundary line adjustment to add approximately 2.3 Acres of land to the parcel. With the additional land that will be included in the sale the opportunities are endless. Call today to learn more about this opportunity to purchase a cash flowing business with real estate in a market that is in growth mode!
Room for Growth
Additional 2.3 Acres will be included
Housing boom hitting the area
New Amazon facility 5 mins away
- Asking Price: $2,360,000
- Cash Flow: $136,610
- Gross Revenue: $375,965
- EBITDA: N/A
- FF&E: N/A
- Inventory: N/A
- Inventory Included: N/A
- Established: 2002
- Property Owned or Leased:Own
- Property Included:Yes
- Building Square Footage:1,353
- Lot Size:N/A
- Total Number of Employees:2
- Furniture, Fixtures and Equipment:N/A
There are 5 self serve bays and a one drive thru touchless.
Growing market with no competitors
Plenty of room to add additional touchless wash
The company was founded in 2002, making the business 20 years old.
The company has 2 employees and resides in a building with approx. square footage of 1,353 sq ft.
Why is the Current Owner Selling The Business?
There are all sorts of reasons why individuals decide to sell operating businesses. Nevertheless, the real factor vs the one they tell you might be 2 completely different things. For instance, they may claim "I have way too many other responsibilities" or "I am retiring". For many sellers, these factors stand. But also, for some, these might just be excuses to attempt to conceal the reality of changing demographics, increased competition, current decrease in incomes, or a range of various other factors. This is why it is really vital that you not depend entirely on a vendor's word, yet instead, use the seller's solution in conjunction with your general due diligence. This will paint an extra realistic image of the business's current scenario.
Existing Debts and Future Obligations
If the current company is in debt, which many businesses are, then you will certainly need to consider this when valuating/preparing your offer. Many operating businesses take out loans in order to cover items like inventory, payroll, accounts payable, etc. Remember that in some cases this can indicate that revenue margins are too thin. Many businesses fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future obligations to think about. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing agreements with suppliers that must be met or may lead to charges if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area draw in new consumers? Many times, companies have repeat consumers, which develop the core of their everyday earnings. Specific variables such as brand-new competitors sprouting up around the location, roadway building and construction, as well as employee turn over can influence repeat consumers and adversely affect future incomes. One vital point to consider is the area of the business. Is it in a highly trafficked shopping center, or is it concealed from the highway? Obviously, the more individuals that see the business on a regular basis, the greater the opportunity to develop a returning consumer base. A last idea is the general area demographics. Is the business placed in a largely populated city, or is it situated on the outskirts of town? How might the neighborhood median house earnings effect future earnings potential?