The first two locations each have two fully automated touch-less car wash bays with adjoining self-serve wand wash bays (one 3 and the other 4) while the third location is a six bay self-serve wand wash. Each location has multiple vacuum islands. All three car washes have frontage on high traffic count Michigan business route highways. The three units are managed by one of the partners with help from one employee working 32 hours a week and three part time employees working far fewer hours.
In 2011, without yet recording income from the renovated self-service unit, the other two car washes recorded SDE (sellers’ discretionary earnings: the free cash flow available to pay an owner/operator and service debt) of $160,000 on revenues of $364,000. Customers have of course returned to all three car washes and business in 2012 continues to grow and flourish. Moving forward the owners/sellers continue to invest in the businesses and improve operations so that the buyer of these car washes will be assured of taking over high performing businesses.
All three car washes and their real estate combined are being offered for $2.2 million with a meaningful seller note available for qualified buyers.
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Reason for Selling:
- 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.