2-Location Idaho Suds Car Wash

Kimberly, ID (Twin Falls County)

2-Location Idaho Suds Car Wash

Asking Price:$410,000

Cash Flow:N/A

Gross Revenue:N/A

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Real Estate:N/A

Established:N/A

2-Location Idaho Suds Car Wash

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Business Description

Two very well constructed Car Washes built of concrete masonry units over slab on grade with flat roof. The Burley at 726 Overland was originally constructed in 1992 and has had major asset improvements over the years. There are two curb entries on the 92 feet of Overland frontage. The 2,002 SF building features 3 self-serve bays and an automatic bay with Super Wash equipment. The Kimberly location at 140 Main Street South in was built in 2002 with similar construction to Burley featuring 2 self-serve bays and an automatic wash housed in a 1,456 SF building. Both washes feature credit card service for automatic and self-serve bays, coin operated vacuums, in-floor heat for all bays and improved pavement. Both washes, constructed with good material and craftsmanship, were designed to last and received updates/renovations in 2007. Burley generates on average $100,000 per year and Kimberly has shown good growth over the last 3 years. Combined total sales have fluctuated from a high of $150,000 in 2009 to a low of $112,000 in recession-led 2010. Projections for 2016 should be +/-$135,000 in gross sales, recasting an operating cash flow of $45,000. Both projects are managed passively. On average, labor has been $24,000 per year that could be recast back with an active owner manager.

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Detailed Information

Real Estate:
Owned
Included in asking price
Building Sq. Ft.:
N/A
Competition:
Both Burley and Kimberly have stable and loyal customer bases. The Owners have worked to improve the exits with pavement and offer premium washes at a great price point. The location on Overland is ideal and could easily be promoted with on site signage. Kimberly is the only wash in town and the growth of the community over last 2 to 4 years has been significant. With just a little promotion on the part of the owners, sales have grown 25 to 30%. Kimberly presents positive growth potential in capturing new customers. Both communities are robust and growing.
Growth & Expansion:
Idaho Suds was purchased in mid-2009 for $550,000. There was a growing curve for the owners with no industry backgrounds and sales were in excess of $150,000 at the time. The 2010 recession negatively impacted sales but they are now coming back. The assets have been well maintained and the property does not have any deferred maintenance. This is an excellent opportunity for an independent investor or for a multi-location owner that is looking to expand into Magic Valley. The last appraisal for both locations was for $440,000. The offering is reflective of motivation from the Sellers’ lack of family members and no time to manage the properties.
Reason for Selling:
Retirement.

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Arthur J. Berry

Business Listed By:
Arthur J. Berry

Arthur Berry & Company

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