Business Overview

Recently renovated and upgraded Car Wash located in Miamisburg, OH at the same location for over 20 years. The wash consists of a tunnel soft touch wash, with 2 self-serve wash bays, and vacuum islands. All the equipment is brand new in 2021, including the new tunnel equipment, 2 new self-serves, and all other necessary equipment to operate the wash. In December of 2020, the entire wash was gutted down to the studs with all the old equipment removed. New wash equipment was installed, the interior walls were covered in new vinyl wall coverings, and the building exterior was repainted and re-branded. The wash is run absentee, but there is a Site Manager (who lives nearby) and manages the wash for the owner. The Site Manager opens and closes the wash every day and watches over the location as if it’s his own. The Site Manager is willing to continue in the future to manage the wash if needed.

Financial

  • Asking Price: $1,200,000
  • Cash Flow: $166,000
  • Gross Revenue: $323,000
  • EBITDA: N/A
  • FF&E: $450,000
  • Inventory: $3,000
  • Inventory Included: Yes
  • Established: 2001

Detailed Information

  • Property Owned or Leased:Own
  • Property Included:Yes
  • Building Square Footage:3,005
  • Lot Size:N/A
  • Total Number of Employees:1
  • Furniture, Fixtures and Equipment:N/A
Is Support & Training Included:

Site Manager will provide

Purpose For Selling:

Owner has other business interests

Additional Info

The company was started in 2001, making the business 21 years old.
The transaction will include inventory valued at $3,000, which is included in the suggested price.

The company has 1 employees and is situated in a building with disclosed square footage of 3,005 sq ft.

Why is the Current Owner Selling The Business?

There are all kinds of reasons people decide to sell companies. Nevertheless, the genuine reason and the one they tell you might be 2 entirely different things. For instance, they may claim "I have way too many other obligations" or "I am retiring". For numerous sellers, these factors are valid. However, for some, these might simply be excuses to try to hide the reality of altering demographics, increased competition, current decrease in earnings, or an array of other factors. This is why it is really vital that you not rely absolutely on a vendor's word, yet rather, make use of the seller's solution together with your overall due diligence. This will repaint a much more reasonable picture of the business's existing circumstance.

Existing Debts and Future Obligations

If the existing business is in debt, which many companies are, then you will certainly need to consider this when valuating/preparing your offer. Lots of businesses finance loans with the purpose of covering things like stock, payroll, accounts payable, etc. Remember that sometimes this can imply that profit margins are too small. Lots of businesses fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may additionally be future commitments to think about. There may be an outstanding lease on tools or the building where the business resides. The business might have existing contracts with vendors that have to be satisfied or might cause penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the area bring in new clients? Often times, companies have repeat clients, which create the core of their everyday earnings. Particular elements such as brand-new competition growing up around the location, roadway building and construction, as well as staff turnover can impact repeat clients and adversely influence future revenues. One vital thing to think about is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Obviously, the more people that see the business regularly, the greater the opportunity to develop a returning client base. A last thought is the basic area demographics. Is the business placed in a densely inhabited city, or is it located on the outskirts of town? Just how might the neighborhood average house earnings effect future revenue potential?