Hand Car Wash for Sale in Chicago

This Hand Car Wash has a long history of providing quality car washes by hand. Some of the services offered include; hand washing, hand detailing (interior and exterior), hand waxing, buffing and light engine cleaning. Sales and cash flow have been increasing each year.
Located in Chicago, Illinois (Cook County)
Sale includes: the Business, all Equipment & all Fixtures.
Purchase Price / Business only = $479,000 plus inventory

This location has been a car wash for more than 20 years. The current owners purchased the business and building in November of 2007. They remodeled the building. It has a central vacuum system, heated & cooled waiting area for the customers, all the drainage was redone, new doors, new bathrooms, new plumbing & electrical, new signage & the list goes on and on. The remodeling costs exceeded $173,000. They finished the remodeling and opened for business in August, 2008. It's located directly on a very busy street and has over 27,000 cars driving past the front door each day!! Even though the owners are absentee and have a manager running the business for them, they still do more than $550,000 per year in sales & average over 3,300 cars per month. The cash flow for the last 12 months was about $217,266. They have very few machines to maintain & repair. Roughly 40% of sales are credit card sales & 60% are cash sales. There are 8 surveillance cameras on premise so the owners can see the business from their cell phones or computers. Sales and cash flow has been steadily increasing each year. In fact, March of this year they had their busiest month ever with $66,434 in gross sales and they washed nearly 4,000 cars. Why take the risk & buy a business that's failing when you can buy a business with a proven track record, very consistent sales and plenty of room for growth?

Probably the best attribute of this business is the fact that there are plenty of areas of opportunity to grow the sales & cash flow even further. For starters, the current owners are managing it absentee. Having an owner/operator there on a daily basis would certainly help increase sales and lower expenses. Also, because the owners aren't there, they don't focus on dealer accounts at all. Most car washes have accounts with local dealerships and detail their cars for them to prep before sale. For some car washes, dealer accounts make up a significant percentage of their sales and are very consistent from month to month. They also usually pay by check, not credit card. This is a big area of opportunity for a new owner/operator. 

Another area of opportunity for this business is advertising. They do virtually no advertising at all and yet they still do more than $550,000 per year in sales and $200,000 in cash flow! They have no website at all, while most car washes have a website. Having a website is especially important to attract customers for full details and new customers that haven't been here before and either work or live in the area. They have not advertised through Groupon and don't do any social media marketing either. Between the lack of advertising and the absentee owners and no focus on dealer accounts, this business has the potential to do $700,000-$800,000 per year in sales. That would put the cash flow in the neighborhood of $400,000 per year!

The current owners have several businesses & buildings and want to sell a couple of businesses so they have fewer responsibilities & can travel more often.

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

Asking Price/Business only: $479,000 plus inventory
Gross annual sales (approximately): $554,180.47 (2014)
Cash flow (approximately): $217,266.00 (Last 12 months)
Value of furniture, fixtures & equipment (approximately): $95,000.00
Value of Inventory (approximately): $5,000.00
Lease details (approximately): The space is approximately 7,500 sq ft. The Base Rent & R.E. Taxes are $6,100.00/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: Owner might consider a small amount of financing with qualified & experienced buyer/operators.
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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