Any Self-Serves for sale in Greater Cincinnati area?

[cincycarwash]

Hello,

Curious if anyone in the GCA is looking to sell their wash, or knows of anyone selling? Ideally self-serve, but open to others.

Have seen a few on loop net, but people are asking an arm and a leg (like $400k for a wash that does $45k/year).

Thanks!

 

[Roz]

You should not jump to conclusions about the wash. While on a cash flow basis the asking price seems high depending on the details it might be a good value. It may have good equipment and a bad/absent operator. Do an evaluation as overpaying (based on CF) for a great location makes more sense than getting a cheap wash that is a poor location.

 

[cincycarwash]

You should not jump to conclusions about the wash. While on a cash flow basis the asking price seems high depending on the details it might be a good value. It may have good equipment and a bad/absent operator. Do an evaluation as overpaying (based on CF) for a great location makes more sense than getting a cheap wash that is a poor location.

Yes, agreed. But I have done evaluations on 3 washes that are for sale and each one is wildly overpriced. In the example I gave the expenses were almost double than the best month’s income. I have evaluated them and had others do the same.

 

[Roz]

Yes, agreed. But I have done evaluations on 3 washes that are for sale and each one is wildly overpriced. In the example I gave the expenses were almost double than the best month’s income. I have evaluated them and had others do the same.

Evaluate the location, building, and equipment. Expenses that are high may be the sign of a poor operator or a water line that is broken.

my first wash was purchased at an auction. Based on the cash flow (less than your number) I overpaid by a huge amount (about the ask price above). All the equipment was on the last legs and beyond repair.

Knowing what I know how the place operates today I am Uber glad I took the leap of faith. Led me to purchase two more washes and I continue to look at others for sale on a regular basis.

 

[OurTown]

Dayton Ohio is the same way. Almost all car washes that come on the market are overpriced IMO.

 

[chaz]

Hello,

Curious if anyone in the GCA is looking to sell their wash, or knows of anyone selling? Ideally self-serve, but open to others.

Have seen a few on loop net, but people are asking an arm and a leg (like $400k for a wash that does $45k/year).

Thanks!
[/QUOTE

do u have current washes in GCA?

 

[Randy]

There are a few car washes for sale in the Puget Sound area of Washington state and a few run down car washes have sold for over $800,000. I'm thinking about selling out soon, the dirt my car wash sits on makes it not worth having a self-serve car wash on it. Self-serve car washes are slowly dying here.

 

[MEP001]

Dayton Ohio is the same way. Almost all car washes that come on the market are overpriced IMO.

Same here too. There are washes that are not viable to operate, so you would think they'd sell for land value or less since the building needs to be bulldozed and the pits dug up. Nope, they're asking 2-3 times what it should realistically be worth. I've made reasonable offers on several and don't even get a reply.

 

[2Biz]

Hello,

Curious if anyone in the GCA is looking to sell their wash, or knows of anyone selling? Ideally self-serve, but open to others.

Have seen a few on loop net, but people are asking an arm and a leg (like $400k for a wash that does $45k/year).

Thanks!

What do you consider the GCA? How far out are you willing to go? I live about 30 miles from Cincinnati and considered GCA.

 

[cincycarwash]

Yes, 2

 

[chaz]

Where are your current Cinn washes . I have one wash in Norwood