Busy Hand Car Wash for Sale in Chicago, Illinois

Located in Chicago, Illinois (Cook County)
Sale includes: the Business, all Equipment & all Fixtures.
Purchase Price / Business only = $379,000 plus inventory

This Hand Car Wash is located on the N/NW side of Chicago. It’s on a very busy street & has more than 27,000 cars driving past the front door each day. This location has been a car wash for more than 20 years. The current owners purchased the building in November of 2013. It was a car wash at the time. After buying the building, the owners began remodeling and making much needed improvements. They spent approximately $127,400 on the build out and equipment. The business reopened under the new name in Feb, 2014.

The current owners have a manager that runs the business for them. In 2014, their average sales per month were $29,718. In 2015, the average sales per month were $37,164. The average number of cars they washed each month in 2014 was about 2,400 cars and that number increased in 2015 to about 2,885 cars per month. Their best month since opening in February 2014 was February 2016. They did $50,075 in gross sales!!

The cash flow for 2015 was $177,572.08. The rent is $4,500 per month & it includes the Real Estate taxes, which are about $9,000 per year. The rent does not include water. Any increases in Real Estate taxes are the tenant’s responsibility however, the owners are diligent in fighting to lower the taxes each year.

The current owners are not involved in the day to day operations. They do have 9 surveillance cameras that can be viewed online or on their cell phones to keep an eye on things. Of course, when you have absentee owners, there are plenty of areas of opportunity to grow the business. One area of opportunity is advertising. They don’t do much advertising at all. They also don’t do any social media marketing. Since they opened, they really didn’t have much room for doing full details or dealer details. The City of Chicago made the area on the side of the building a loading zone, so now there’s more room to detail cars. Picking up dealer accounts is a big area of opportunity. Many car washes have accounts with local car dealerships to wash & detail the cars they buy at auction before selling them at retail. For many car washes, dealer accounts make up a significant portion of their sales and the sales are usually very consistent from month to month. Another area of opportunity is that they don’t currently accept credit card payments. Customers have to pay in cash. Accepting credit cards would almost certainly increase sales, especially full details.

Note: The owners are willing to finance up to 40% of the purchase price for a well-qualified buyer.

Asking Price/Business only: $379,000 plus inventory
Gross annual sales (approximately): $445,975.22 (2015)
Cash flow (approximately): $177,572.08 (2015)
Value of furniture, fixtures & equipment (approximately): $75,000.00
Value of Inventory (approximately): $5,000.00
Lease details (approximately): The space is approximately 3,000 sq ft. The Base Rent & R.E. Taxes are $4,500.00/month. The security deposit is 1 month rent. Increases are 3% annually. Tenant is responsible for building maintenance. The lease is personally guaranteed. Owner will provide a long lease, if you want.
Seller Financing: The owners are willing to finance up to 40% of the purchase price for a well-qualified buyer.
Contact: Tony, This email address is being protected from spambots. You need JavaScript enabled to view it., Advantage Business Acquisitions, Inc. 847-722-1877

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