Profitable Two-Bay Express Automatic Car Wash

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  • 2014-02-15 22.32.19 v2

Business Details

Listing Price:
$825,000
Gross Revenue:
$132,000
Cash Flow:
$65,000
Inventory:
$5,000 (estimate)
Inventory Included:
Yes
FF&E:
$250,000
FF&E Included:
Yes
Down Payment:
15%
Real Estate Included:
Yes
Sale Type:
Asset Sale
Seller Financing:
Yes
Absentee Owner:
Yes
Training:
Provided
Reason for Sale:
Focus on other business opportunities.
Business Established:
2001 (Substantially renovated in 2011)
Business Acquired:
2006
Ownership Form:
LLC
Location:
Highpoint, NC
Full-Time Employees: N/A
Part-Time Employees:
1
Managers: N/A
Owner Occupied:
Yes
Monthly Rent: N/A
Square Footage:
Land is 16,988 square feet (.39 Acres) with 1710 square foot building.
Facility Description:
The facility consists of one 1710 square-foot single-story building on a .39 acre corner lot. The pre-fabricated metal structure houses two automatic car wash bays along with a 456 square foot mechanical/equipment room. The facilities also include two exterior vacuum stations. The building, equipment and surrounding premises are well maintained and in good condition.

Business Summary

Business Description:
This is a profitable two-bay automatic car wash on prime commercial real estate in High Point, North Carolina. Operating as “Shiny-Nu Car Wash”, the business is located at the corner of N. Main Street (a major north-south artery with a 22,000 average daily traffic count) and Hartley Drive (a recently extended and expanded 4-lane thoroughfare). Shiny-Nu shares this intersection with major commercial attractions including among others Food Lion, Staples, Chick-Fil-A and a (newly-supersized) Wal-Mart. (Lowe’s is less than 1000 feet from the intersection.) Over the previous five years, gross sales have averaged $117,000 but have been trending upward as 2013 sales exceeded $132,000. Cash flow over the same five-year period has averaged $65,000. ">
History:
The carwash was built in 2001 and substantially renovated in 2011.
Owner Qualifications: N/A
Competition:
The most important retail businesses in northern Highpoint are located along North Main Street and are heavily concentrated at or near the Hartley Drive intersection. Proceeding south on Main (toward downtown) from Shiny-Nu, there are no competing car washes within two-miles with frontage on North Main. One single-bay car wash positioned on the side/rear of a gas station is approximately one-half mile north on North Main.
Growth Potential:
The recent expansion of Hartley Drive has created easy access to North Main Street for hundreds of residences to the west. Consequently, Shiny-Nu now has attractive frontage on two busy thoroughfares. This leaves Shiny-Nu well positioned for future growth. In addition, owners of Shiny-Nu have achieved these financial results with no marketing whatsoever beyond signage. This too constitutes an opportunity for future growth.
Financing / Terms:
Negotiable.