Conveyor Car Wash In Chicago For Sale

Business description

It s a great opportunity for both sides. The buyer gets a profitable business in a great location and the property owner gets a tenant that will have no problem paying rent. Until very recently, the cars being prepped at the Car Wash were being prepped just inside the tunnel because that s where the vacuum system is located. That s why there has always been just one line of cars being fed into the tunnel; they had no choice because of the location of the vacuum equipment.

The current owners recently moved the vacuum equipment to the exterior, in front of the entrance to the tunnel, about 70 feet from where it was before. This will enable them to have 2 lines of cars, instead on 1 line, enabling them to prep 2 cars at one time & feed cars through the tunnel car wash much faster & more efficiently, resulting in much higher sales. This is very good for whoever buys this car wash. It means you have the ability to significantly increase your sales.

The other aspect you almost always see at very busy tunnel car washes is that they have a salesperson at the front of the line going into the tunnel car wash asking people what packages they want & more importantly, trying to upsell them by asking if they would like armor all on their tires & floor mats cleaned, etc. The current owners do not have a good salesperson handling the line & upselling for them. This is another area of opportunity for the next owner.

One last very important area of opportunity for a buyer/new owner is advertising. The Car Wash is almost exclusively relying on word of mouth advertising, while most car washes send out mailers & pass out fliers & coupons & other forms of advertising. This is great news for a potential buyer because it shows that this car wash is already doing fantastic numbers simply by word of mouth.

Property information

Real Estate:

Lease

Lease terms:

Base rent = $5,900/mo. Annual increases = 3%. RE taxes = +/-$19,000/year. C.A.M. = Tenant responsibility. Long Term Lease is available.

Location:

This car wash is located at one of the busiest intersections in Chicago, with more than 46,000 cars driving by each day.

Premises details:

The owner states that the equipment is currently valued at $160,000 and would cost approximately $400,000 if purchased new. The tunnel equipment is approximately 12-13 years old. The equipment for the self-serve area is approximately 9 years old. Base rent = $5,900/mo. Annual increases = 3%. RE taxes = +/-$19,000/year. C.A.M. = Tenant responsibility. Long Term Lease is available. 5-Self serve bays and 1 full-serve tunnel. There are digital surveillance cameras which can be viewed online by a potential buyer.

Other information

Expansion potential:

This car wash currently has 1 line of cars feeding into the tunnel. When you shop around at other busy tunnel car washes, you ll notice that they almost always have 2 or more lines funneling into the car wash. This is the most efficient way to get the maximum amount of cars through the car wash, which in turn, generates more sales. If you have 2 or more lanes feeding into the car wash, while one car is being prepped & vacuumed, another car could be simultaneously fed into the tunnel.

Competition / Market:

According to I.D.O.T., there are over 46,000 cars driving by the Car Wash each day Even with limited hours of operation, in the last 12 months, this business is averaging over $44,443.00 per month in sales. The Car Wash closes at 7:00pm each day and at 5:00pm on Sunday. The Car Wash is located at one of the busiest intersections in the city of Chicago. It was recently remodeled including new overhead doors, new signs, fresh paint and much more.

Support & training:

The seller will provide the necessary training to ensure a successful future for a well qualified buyer. The seller owns the property & will be the landlord, so it's in his best interest to help as much as possible.

Reasons for selling:

The owner has many properties & has no time to manage this business.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Seller will provide financing for 40% of selling price for qualified buyer.

Furniture / Fixtures value:

$160,000 (included in the asking price)

Inventory / Stock value:

$4,500