REDUCED Again! Full Service Automotive Car Wash, and 2 other related profit centers (Automotive, Car Washes)

Southern CT - Connecticut

Seller Financing: No
Lender Pre-Qualified: No
Listing ID: 72643
Status: Active

Listing Details

Listed Price: $1,799,000
Down Payment:
Total Sales: $1,288,000
SDE: $487,821
EBIT:
EBITDA:
FFE: $1,000,000 Included? Yes
Real Estate: Included? No
Inventory: $12,000 Included? Yes
A/R: $0 Included? No
Default Image
Contact Information
Nutmeg Advisory Partner, llc dba VR Business Sales
941 Grand Ave
New Haven Connecticut 06511
Office: 203-772-3773
Fax:
Email: jeff@vrnutmeg.com
www.vrnutmeg.com
Send Email To Agent
Reason for Sale: Owner relocating out of state where he has interests in several other car washes
Training: Owner will advise and train buyer as needed
Financing Terms: 50% financing for 10 years

Operations

Year Established: 2007
Last Acquired: 2007
Form of Ownership: Limited Liability Company
Home Based: No
Relocatable: No
Type of Location: Strip Center
Absentee Owner: No
Online:
Employees: Full Time: 11 / Part Time:
Managers: 1
Hours: 8AM-6PM
Owner Hours: 60
Non-Owner Payroll:
Franchise Info: Not a franchise

Location

Lease Expire: 8/1/2047
Option:
Lease Terms: Current base lease is August 2010 - July 2011 at $6,450.00/month with 36 years remain on the lease with annual increases from this low base.
Lease Security: $0
Monthly Rent: $6,450
Square Footage: 7900
Facilities: End cap of a shopping strip on heavily traveled route off major interstate. Other tenantsare mainly food/liquor/retail convenience businesses. The Real Estate may be available for the strip mall that houses these businesses and several other tenants.

Summary

Business Description: Car wash, detail center and one other related cash service business which are all state of the art services. Car wash is a tunnel wash with a parellel walkway, very upscale with numnerous merchadising opportunities presented to customers as they walk and watch their car through plate glass windows being soaped and sprayed through the wash. Average sale is $18/car (correct) The sales in 2010 were up 20% over 2009 so this is still in the growth phase. Already very profitable, this is an investment with a 30+ year productive cash flow horizon. Opportunity for a new owner to earn income before debt and income tax in the mid-6 figures.
Historical Summary: The car wash and related businesses were completely redone from the ground up by the current owner. A car wash had been at this location for over 20 years but had been closed for 4 years prior to the current owner investing about a million dollars in all new equipment and leasehold improvements. Ther other 2 adjoining businesses were also redone from scratch.
Owner Qualifications: For someone already in the business, or a lucrative final career move for a serial entrepreneur. Current owner is full time hands on, and new owner would need to replace him or have a capable manager.
Competition: 2 other pre-existing car washes in town.
Potential Growth: The current owner expects another double digit % increase in sales in 2011. Broker has detailed list of expansion possibilities