Services - Auto Repair, Parts & Svcs

$Seller Financing Available

Asking Price	$2,475,000	Inventory	40000*
Gross Income	400000	Real Estate	2200000*
Cash Flow	$200,000	Year Established	1983
FF&E	500000*	Employees	6

* included in the asking price

** not included in the asking price

This successful local chain of touchless, self-service car washes serves neighborhood communities from four strategic locations throughout the greater Boise metro area. Founded in 1983 with one self-serve car wash, the business also includes a car wash equipment distribution division that provides a material supplies cost advantage to the operation. The owner is a highly effective operator focusing on providing excellent service at self-service car washes that are convenient to use. With equipment upgrades at each location, the business has been able to sustain its market presence and ride the cyclicality of demand over the past decade, even in the presence of new competitive entries. There are significant advantages to purchasing an existing chain of car washes rather than building new facilities. A new car wash will not offer a material advantage given the ease of keeping an older car wash competitive. The highest returning upgrades can be added at a relatively low cost (such as in-bay credit cards, triple foam, carpet cleaner/vacuum combinations and automatic bays). Since fewer good site locations are available in this competitive market and land costs continue to escalate, the payback period on building new car washes is relatively long. On average an established car wash can be purchased at up to 80% of its expected replacement cost and generate immediate cash flow to the owner. More importantly, the real estate value creates built-in gain at purchase given the strength in the local commercial real estate market.

Facilities: Four strategic locations ranging from 15,246 to 39,204 square feet, totalling 117,133 square feet, with 21 self-service bays (including 4 mega bays) and two automatic bays, well maintained with good curb appeal. New office and warehouse supports car wash equipment distribution business division.

Competition: This metro area is located in the Intermountain West region of the US, with a population of about 560 thousand. and has consistently been recognized as one of the best places to live, to work and to own a business. The local market for car washes is estimated by management to be improving due to positive trends in the three major factors affecting revenues: good weather, new car sales and growth in consumer income.

Growth/Expansion: The company's car wash equipment and supplies division that has territory extending beyond the local market has growth potential if worked by a new owner.

Seller Financing Available: Yes

Financing: As required by buyer's lender

Support/Training: The owner is willing to provide appropriate transition and mentoring assistance.

Reason Selling: The owner would like to retire.