Hand Car Wash for Sale in Chicago, Illinois

Chicago, IL (Cook County)

Seller Financing Available
New Hand Car Wash

Asking Price:$189,000

Cash Flow:$66,936

Gross Revenue:$335,685

EBITDA:N/A

FF&E:$75,000

Inventory:$5,000*

Established:2015

*not included in asking price.

Hand Car Wash for Sale in Chicago, Illinois

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Business Description

This is a Hand Car Wash located on a very busy street in Chicago. This location has been a car wash for a long time. At the time the current owners purchased the car wash, it was closed. They extensively remodeled the business and opened in August 2015. The average sales per month in 2016 have been $27,974. In 2015, the average was $19,411 per month.

The current owners purchased the building in 2015. When they purchased the building, the car wash was closed and had been for a while. It was a car wash for many years before they bought the building. It needed to be remodeled and they wanted to re-brand it and model it after their other hand car washes. After extensively remodeling the car wash and purchasing new equipment, they opened for business on August 3rd, 2015.

The car wash is located on the N/NW side of Chicago. The price includes all equipment & fixtures and basically covers the cost of the build out & equipment.

Located in Chicago, Illinois (Cook County) Sale includes: the Business, all Equipment & all Fixtures.
Purchase Price / Business only = $189,000 plus inventory

Detailed Information

Inventory:
Not included in asking price
Employees:
12
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This is a Hand Car Wash located on a very busy street in Chicago. This location has been a car wash for a long time. At the time the current owners purchased the car wash, it was closed. They extensively remodeled the business and opened in August 2015. The average sales per month in 2016 have been $27,974. In 2015, the average was $19,411 per month. Some of the improvements include; A central vacuum system, large front and back overhead doors, a 9 camera HD surveillance system that can be viewed online and on smart phones & tablets, a very spacious waiting area with vending machines, a seating area where customers can watch their car and a loading area where the cars are staged after they are cleaned with plenty of room to exit from the right or left. This is one of the only hand car washes in Chicago that can handle large trucks, passenger vans, limousines, party buses and other large vehicles that can’t fit inside most car washes. Even limousines have trouble going to other car washes because they are too long to make the turn out of the back of the car washes. This is not an issue here because there’s plenty of room to exit the back, even with a stretch limousine. This is a big area of opportunity for a new owner.
Competition:
Asking Price/Business only: $189,000 plus inventory Gross annual sales (approximately): $335,685.50 Cash flow (approximately): $66,936.80 Value of furniture, fixtures & equipment (approximately): $75,000.00 Value of Inventory (approximately): $5,000.00 Lease details (approximately): The space is approximately 5,000 sq ft. The Base Rent & R.E. Taxes are $5,000.00/month. The security deposit is 1 month rent. Increases are 3% annually. Tenant is responsible for building maintenance. The lease is personally guaranteed. Owner will provide a long lease, if you want. Seller Financing: Owner might consider a small amount of financing with qualified & experienced buyer/operators.
Growth & Expansion:
Another area of opportunity is that they aren’t doing much advertising at all. They have been focusing on offering lower prices with higher quality to establish a loyal customer base. This has gone very well so far and you can see from the numbers that sales are increasing and expenses are decreasing. You simply won’t find a comparable car wash at a better price. You also couldn’t build a better car wash for this price. Note: The owners are willing to provide a small amount of seller financing to a qualified buyer. The current owners have several businesses & buildings and want to sell a couple of businesses so they have fewer responsibilities & can travel more often.
Financing:
Owners will consider some financing
Support & Training:
The owners will provide some training for a new owner. Also, they have a manager running the business for them and the plan is for him to stay, if you want. The manager does NOT know the business is for sale. The current owners have several businesses & buildings and want to sell a couple of businesses so they have fewer responsibilities & can travel more often.
Reason for Selling:
The current owners have several businesses & buildings and want to sell 1 or 2

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Tony Gavros

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Tony Gavros

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