Package of Three Automatic + Self-Serve

Not Disclosed, VA
Chesterfield County


Asking Price: Annual Revenue:
$3,375,000 $825,000

Automotive & Boats: Car Wash, Auto Detailing


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RE: Package of Three Automatic + Self-Serve Broker: Harry Caruso

Quick Facts

Asking Price: $3,375,000
Annual Revenue: $825,000
Net Profit: Not Disclosed
Cash Flow: $455,000
Total Debt: Not Disclosed
FF&E: $750,000
Real Estate: $2,250,000
Year Established: 1989
Employees: 2
BBN Listing #: 837759262
Broker Reference #: VA-011

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Business Overview:

OVERVIEW
Portfolio of three high performing in-bay automatic and self-serve combo car washes in Virginia for sale with Real Estate included. The owner is looking to retire, despite the business being up throughout the COVID crisis and in 2020. These washes have not flinched in the way of sales or profit during these unprecedented times and offer a truly resilient revenue and profit source for a new owner. These car washes continue to grow and show no signs of stopping.

This seller has proudly owned and operated these washes for well over twenty years and continues to treat them as he always has – with constant reinvestment to keep them at their best. Great equipment and sites with no deferred maintenance or expense spared. The numbers truly reflect the quality of these sites and operations with car counts, sales, and profit all having increased every year for the past three years, including in 2020 (even without adjusting for COVID).

SITES AND REAL ESTATE
These three separate, but uniformly branded, car washes sit on a collective 3.25 acres of highly trafficked real estate.

The owner currently owns, and is selling, all underlying land with the washes. In addition, the owner is including two additional lots which are adjacent to one of the washes, along with an attached Lube Center. This Lube Center, for which there is a current locked in tenant in place, produces ~$65,000 of additional revenue to the owner (as it will for the buyer and new owner as well).

FACILITY AND EQUIPMENT
Each site is fitted with five self-serve bays and one touchless in-bay automatic.

Buildings and equipment are all in wonderful condition and have been maintained, serviced, and upgraded on a consistent basis without any cutting of corners.

All washes and bays are equipped and setup to accept both credit card and cash, facilitating a convenient consumer experience for all.

PERSONNEL AND SETUP
The current owner of these three car washes currently employees two individuals. One of these employees is full time and the other part time. Both these individuals are very knowledgeable, well equipped, and would be interested in staying on post sale if the new owner desires such.

This setup is what allows this opportunity to be true turn-key and ready to go.

FINANCIALS
In the way of performance and financials, these car washes have (and continue to be) rock solid over their entire history. 2020 (even with COVID) has been no exception to this.

Since 2017 to now, gross sales across all three washes has increased 5% a year on average each year. Gross sales over the last twelve months (as of June 2020) is even up ~2% from 2019 calendar year sales – even with COVID and without making any adjustments.

Over the past twelve months, these washes have produced $815K in Gross Sales. From that, these washes have consistently produced ~450k of true EBITDA (after everything, rent, property taxes, expenses, labor – everything) each year for the past three years as well.

FINANCING
Given the detailed bookkeeping, records, and levels of sales and profitability – the attainment of financing on these washes will be incredibly easy and available for any qualified buyer (both via SBA and Conventional financing). A prospective buyer interested in purchasing these washes can expect to need only put 10% – 20% to make these washes their own.

CONCLUSION
If you are looking for a turnkey opportunity, to own your own business, and to benefit from consistent, stable and growing cash flows – this portfolio of three high performing car washes with a long and proven track record may be the right opportunity for you.

To request more information regarding this listing, simply check the ADD TO REQUEST INFO BASKET button and when you are done searching and have made all your selections, simply click on the REQUEST INFO button at the bottom of the page.

Reason for Selling:

Retiring

Additional Details:

  • The property is owned.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is not a franchise resale opportunity.

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