Five foolproof tips for buying a car wash
So, you’ve decided to buy a car wash. There are many steps to take en route to buying an existing site. Here are our top five tips to consider before you make an offer.
Query the competition
Know before you buy. Look into how many other car washes are in the area. What do they have on site vs. what you could offer potential customers? What do they charge? Are their buildings and equipment old and outdated? Or fresh and new? Will you need to consider an upgrade to your existing operation?
Survey the site
Inspecting a prospective site will reveal a lot about the potential investment. Check out the visual impact. Is it clean and well-repaired? How is the lighting? You want to invest in a site that will attract customers. If the building and equipment are in need of repair, what will it take to improve it?
Evaluate the equipment
Evaluate whether the current equipment meets your needs. A new bay can cost $150,000 or more. Ask to see the maintenance record. When was the equipment purchased? Call on a supplier or technician to review and evaluate whether the equipment is in good condition.
Is it accessible?
Does the site benefit from good traffic flow? Are there any obstacles in the roadway, like a median, that would prevent customers from entering the site? Once on-site, ensure there is a logical flow of traffic to help customers move through with ease.
Take care of business
Examine the books and tax returns to determine the site’s revenue. Review water bills to determine how much you can expect to use. Look at soap and chemical bills to project usage. Spend time onsite to see the volume of customers first-hand. How much time does it take to wash a vehicle? If the system is newer, vehicles will be processed more quickly.
A car wash can be profitable. Do your due diligence. Need advice? Our team is on hand to help you every step of the way.