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Buying A Self-Serve Car Wash Business: What Should My Expectations Be?

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Comments & Replies: 2     Views: 1945     Posted By: Peter Siegel MBA  



Topics: Buying A Business     Tags: buying a business



Owning and operating a car is a necessity for most Americans. Some use their vehicles to simply get from point a to point b, others use their cars to transport a large family or product for business, and some own fast, expensive sports cars to bring them joy on a daily basis. Whatever the reason is for owning a motor vehicle of any kind, keeping it looking vibrant and new is surely the best way to prove that you care about your assets. Taking pride in owning and maintaining a 4-wheeled asset is crucial when it comes to representing yourself in a professional manner.

If you are interested in owning a self-serve car wash, you are interested in giving people the opportunity to take care of a possession that may be the most valuable to them. Before purchasing a car wash of any kind, you must understand that the industry of car washing as a whole will provide you with plenty of competition. More importantly, depending on what your interests are, you will identify what kind of car wash you want to run. If you have determined that a self-serve car wash is the best fit for your needs, then you will want to look for a deal that is consistent with 98 percent of other self-serve transactions, and ensure that the car wash includes the real estate, equipment, and assets as well. You can determine the value of the car wash by multiplying the annual gross sales by a factor of anywhere between 3 and 5.

Car washes are almost entirely a cash business, with the average customer spending roughly $1.00-$2.00 for every 4 minutes spent washing their car. When doing your due diligence, you will want to make sure that the seller has kept accurate books for the past 3 years, as cash businesses allow for higher risk for the buyer. Only keeping a few months of business in the books can not only mean that the seller is shady, but that the numbers may not accurately represent the business being brought in year-round. Because the cost of washing your own car isnít very high, one way of maximizing your income without driving up your costs for customers is to have multiple bays. A good rule of thumb is to have 1 bay available for every 1,000 local residents, with the idea that every bay should bring in $250-$450 per week. The amount of money you make will be dependent on the easily-accessible location that you conduct your business in, your high-quality customer service, and your consistent and loyal clientele.


  Helpful Resources To Assist In Selling And Buying California Businesses

Janet Carrera - Escrow & Bulk Sale Services - SF Bay Area

Redwood Escrow Services, Inc. is a full service, licensed independent escrow company. We are EAFC Fidelity bonded, fully insured & licensed with the Department of Corporations. Committed to offering our clients the most comprehensive variety of escrow services available. Phone Janet at 510-247-0741.

Mark Chatow, Esq.: Legal Services For Buying, Selling Businesses

Mark has a broad range of small business purchase & sale experience from analyzing potential acquisition targets to successfully guiding buyers and sellers through the purchase & sale of small businesses. Mark can assist with contracts, negotiations, legal matters, etc. Reach Mark at 949-478-8393.

Mani Singh, Business Broker, Southern California

I have successfully represented clients sell & acquire multitude of businesses ranging from Gas Stations, Liquor Stores, Markets, Super Markets, Smoke Shops, Postal Stores, Restaurants, General Retail, Auto and Construction related. Phone me for assistance with selling or buying at 951-296-7646 Cell

Michael Floorman, Business Broker, BTI, San Francisco Bay Area

Business Team, San Jose (Campbell) located in the Pruneyard Towers at Bascom and Hamilton. Established in 1981 Business Team with over 6600 sales to date has 1000 business listings to choose from, paid Google advertising. We offer highly trained and experienced professionals.

Willard Michlin, CPA, Certified Fraud Examiner, Due Diligence Services

Willard Michlin, CPA #106752, offers buyers step by step training & assistance in doing Due Diligence Services when they are thinking of making an offer, or are in process of investigating a business purchase. He helps to determine the actual net profit even when there is cash. Call 800-864-0420.

Elizabeth McGovern: Escrow Services - SF Bay Area

McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.

Abdul Jobah, Business Broker, Central Valley, Kern County

As A Real Estate Agent, I offer my clients assistance with the sale or purchase of commercial properties and/or businesses. Please contact me if you are looking to sell or buy a Central Valley business. If at any time you have any questions please do not hesitate to call me at 661-703-3916.

Bob Hughes: Business Broker, Palm Springs Area

Bob Hughes is a business broker & is President of Hughes Properties. Hughes has a wide variety of entrepreneurial experience with the personal ownership & sale of numerous businesses, and has sold over 200 small & mid-sized businesses in the Riverside County marketplace. Call Bob at 760-323-8311.


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