Business Overview

OVERVIEW
These sites represent an opportunity to acquire an established, market-leading car wash portfolio in the Harrisburg, PA area.

SITE
These four locations are In-Bay Automatic (“IBA”) and Self-Serve combination car washes, with a total of 7 IBA bays, 16 self-serve bays and 28 vacuums across all sites. These sites combine for 5.5 acres with real estate for all four locations is owned and included in the sale transaction. The seller would be opened to leasing the real estate to the new buyer, but prefers to include it as part of the sale transaction.

FACILITY AND EQUIPMENT
The current equipment across the portfolio is turnkey for a new buyer, as the sellers have invested a significant amount of capital annually to consistently upgrade and replace equipment at all sites.

PERSONNEL AND SETUP
Fast Lane is operated with a very low corporate overhead requirement and only 2-3 part-time individuals managing all sites.

FINANCING
Financing is available in the ways of conventional bank financing and SBA financing.

Financial

  • Asking Price: $10,375,000
  • Cash Flow: $1,129,366
  • Gross Revenue: $1,845,735
  • EBITDA: $1,129,366
  • FF&E: $1,500,000
  • Inventory: $10,000
  • Inventory Included: Yes
  • Established: 2010

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:N/A
  • Lot Size:N/A
  • Total Number of Employees:3
  • Furniture, Fixtures and Equipment:N/A

Additional Info

The company was founded in 2010, making the business 12 years old.
The sale shall include inventory valued at $10,000, which is included in the asking price.

The business has 3 employees and resides in a building with estimated square footage of N/A sq ft.

Why is the Current Owner Selling The Business?

There are all sorts of reasons why people choose to sell businesses. Nevertheless, the true factor and the one they say to you may be 2 completely different things. For instance, they might state "I have too many other obligations" or "I am retiring". For lots of sellers, these factors stand. But also, for some, these may simply be justifications to try to hide the reality of changing demographics, increased competitors, current reduction in incomes, or a variety of various other reasons. This is why it is really essential that you not count completely on a vendor's word, however instead, make use of the vendor's answer along with your overall due diligence. This will paint a much more sensible picture of the business's current circumstance.

Existing Debts and Future Obligations

If the current company is in debt, which numerous businesses are, then you will need to consider this when valuating/preparing your deal. Many operating businesses finance loans in order to cover points such as stock, payroll, accounts payable, and so on. Keep in mind that sometimes this can indicate that profit margins are too small. Lots of businesses fall into a revolving door of taking loans as a way to pay back other loans. In addition to debts, there may likewise be future obligations to take into consideration. There may be an outstanding lease on equipment or the building where the business resides. The business may have existing agreements with suppliers that must be met or may lead to penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do companies in the location draw in new customers? Most times, businesses have repeat consumers, which develop the core of their daily revenues. Particular aspects such as brand-new competitors sprouting up around the area, road construction, and also personnel turnover can impact repeat clients as well as negatively influence future profits. One crucial thing to think about is the area of the business. Is it in a highly trafficked shopping mall, or is it concealed from the highway? Obviously, the more individuals that see the business often, the greater the chance to construct a returning consumer base. A final thought is the basic area demographics. Is the business located in a densely populated city, or is it situated on the edge of town? Exactly how might the neighborhood median house earnings effect future earnings potential?