Express - OH

Express - OH

Asking Price:

$1,099,000

Snapshot

MODEL
Express

SITES
One

TUNNEL
120ft

STATE
OH

SALES
$390K

PROFIT
$145K

FINANCING
Available

LAND
Included

MODEL
Express

SITES
One

TUNNEL
120ft

STATE
OH

SALES
$390K

PROFIT
$145K

FINANCING
Available

LAND
Included

Overview

Express exterior tunnel car wash with real estate for sale. Steady, stable, and proven – this express conveyorized tunnel car wash provides consistent and predictable income. With a very loyal customer base, a long history, and still providing opportunities and room for both growth and margin expansion, this wash is great for a first-time car wash owner looking to embark on their maiden voyage.

Site

This wash sits on a ~0.5 acre lot and the real estate is owned and included in the sale. Although this carwash currently has no vacuums or paystations / auto-cashiers, the site itself has ample room to add both.

This car wash is situated in a stable yet slightly growing demographic area. The surrounding area continues to see significant median income growth, as it has been for the past decade.

Facility and Equipment

This car wash features a 120ft conveyorized tunnel and solid equipment. Most of the equipment in this wash was completely redone and replaced in 2016 or even more recently than that.

The building itself features an office, a waiting area and lobby, restrooms, a full detail bay, completely redone equipment rooms, and an additional storage room as well.

Financials

This car wash has experienced stability throughout its existence and continues to offer such predictability. Simultaneously, this carwash offers natural and specific opportunities for top-line growth and margin expansion.

Over the past twelve months, as of June 2020, this car wash produced $390K in Gross Sales and $145K in Free Cash Flow.

For an owner for which these figures are enough, nothing has to be done to this wash to in order to continue experiencing this level of performance.

However, for an owner who wants to learn the industry firsthand by doing, the introduction of vacuums and an auto-cashier will propel this wash into producing ~$500K in revenue and cashflow in the +$200K range. An autocashier will provide a one-year payback period just due to the sales tax impact alone.

Financing

Both SBA and Conventional financing are available and can be easily attained for this wash. Securing of attractive financing for this car wash will be a painless process given the long, consistent, and well documented historical performance, coupled along with the underlying real estate asset value this wash provides.

Conclusion

If you are looking for your first car wash, or if you own another business that may benefit from you owning your own car wash internally, this is a wonderful starter wash. Long and well documented historical financials, a large and well insulated margin of safety, stable cash flows, all while still offering natural and specific opportunities to experience significant and tangible growth and improvement.