Full Service Car Wash - NY

full-serve-carwash-NY-New-York-For-Sale

Asking Price:

$1,399,000

Snapshot

TYPE: Full Service

OWNER: Absentee

TUNNEL: 70ft

AREA: New York

FINANCING: Available

REVENUE: $450,000

CASH FLOW: NA

AVG. TICKET: $23

TYPE: Full Service

OWNER: Absentee

TUNNEL: 70ft

AREA: NY

REVENUE: $450K

CASH FLOW: NA

AVG. TICKET: $23

FINANCING: Available

Overview

Opportunity to own the only high-quality hand tunnel wash and detail shop in this affluent area. Situated at a major and highly trafficked four-way intersection, this wash is configured and set up for continued growth. Currently washing +17,000 cars over the past twelve months and having grown gross sales +10% in comparison to calendar year 2019. This carwash will be cash flow positive day one while offering major room to grow even further from here. Additional and ancillary current and future revenue generating opportunities offer a unique potential for a new owner. Office space, an unutilized wing, and an underutilized store, all present incremental and natural continued growth opportunities. Prime real estate on which the wash sits is owned and included in the sale.

Site and Setup

Situated on a favorable ~0.35 acre lot (real estate is owned and included in sale)

Main Wash Tunnel

  • ~70ft tunnel
  • Room to comfortably stack seven cars at a time
  • Attached well equipped and accommodating store and interior waiting area

Secondary Wing

  • Currently unused but can be utilized for increased detailing room, vacuums, or even a second tunnel
  • Room to comfortably stack seven cars at a time
  • Attached well equipped and accommodating store and interior waiting area

Office Space

  • Unutilized but could be used by owner as personal office or could be sublet to introduce another incremental and additional source of revenue

Financials

Over the past twelve months this carwash has washed and detailed ~17,000 cars. With an average wash ticket price of ~$23 and an average detail ticket price of $130, this wash produced +$450K in total gross sales over the past twelve months on an adjusted basis, representing a 10% increase over 2019.

Furthermore, this wash bolsters and diversifies its revenue with store and merchandise sales and outsourced window tinting and vinyl applications.

Facility and Equipment

Intentionally setup as a premier hand tunnel wash, the tunnel features automatic rinses, full and new chemical pumping stations, triple foam application arches, an undercarriage wash system, and a top-notch and well-equipped dryer arch setup.

The wash also features an automatic tunnel control system, POS system, full and extensive live security system, and more.

This carwash is equipped to process increased volumes under it’s current setup or could be naturally converted to a conveyorized setup if desired.

Competition

This wash faces a very thin level of local competition with just one other car wash in a three-mile radius (and with this single wash being a completely different wash model and with little shared traffic).

History and Background

This car wash is the beneficiary of being a long-standing operation and is well-regarded in the way of reputation and quality. Having been originally established in 2006, the current owner purchased this car wash in 2018 with the intentions of bringing it to its full potential. Despite being successful in increasing figures and starting down this path, an unanticipated move to several states away has left the current owner wanting to sell in order to take a more hands on approach with a business and opportunity that is closer to his new home.

Financing

Financing is available for this wash in the form of both SBA (504 and 7a) and Conventional. However, this wash will require $250K of bare minimum cash equity injection by the purchaser at time of acquisition.

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