Ok ladies and gentlemen, it’s car wash time.
Full service conveyor wash – building & equipment 4 years old - comes with real estate.
Asking Price - 2M
Cash Flow - 300K
Issues:
We have learned:
No idea which way this will go but it sure is interesting learning all about it. We are even going to attend the International Car Wash Expo next week in Orlando! Who knew you could get so excited about a car wash??
Anyone have thoughts? Insight?
Full service conveyor wash – building & equipment 4 years old - comes with real estate.
Asking Price - 2M
Cash Flow - 300K
Issues:
- Mismanaged staff
- Poor visibility (difficult to see from road, until you are upon it)
- Timing – we have seen anywhere from 7-20 minutes for a standard wash
- Terrible appearance inside & out – waiting room was filthy and severely unorganized
- Limited Financials
We have learned:
- Traffic is critical. This site has a daily traffic count of 43,000 (drive by) – this information is available on most county websites
- An average wash can expect to capture .005 - .008 of the drive by traffic
- Visibility is key – 80% of patrons, when asked why they stopped at a car wash reply, ‘I just happened to drive by’
- Water consumption can assist in determining the number of washes really taking place per month (most water co.s are public – all you have to do is call them and ask for readings). Once you have this, you can call the manufacturer of the equipment and ask for water consumption figures per wash The electric company was a private co. and still agreed to give us a 12 month avg.
- Consider any competition within 5 miles
- Get an environmental study on land
- Owner financing is common due to lack of financials
No idea which way this will go but it sure is interesting learning all about it. We are even going to attend the International Car Wash Expo next week in Orlando! Who knew you could get so excited about a car wash??
Anyone have thoughts? Insight?
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