Business Summary:
This successful local chain of touchless, self-service car washes serves neighborhood communities from four strategic locations throughout the greater Boise metro area. Founded in 1983 with one self-serve car wash, the business also includes a car wash equipment distribution division that provides a material supplies cost advantage to the operation. The owner is a highly effective operator focusing on providing excellent service at self-service car washes that are convenient to use. With equipment upgrades at each location, the business has been able to sustain its market presence and ride the cyclicality of demand over the past decade, even in the presence of new competitive entries.
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| Year
Business was Established: 1983 |
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| Number of Employees:
13 |
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| Facilities / Terms of Lease:
There are significant advantages to purchasing an existing chain of car washes rather than building new facilities, especially given the rapid escalation in real estate prices in this market. In addition, the highest returning upgrades can be added at a relatively low cost (such as in-bay credit cards, triple foam, carpet cleaner/vacuum combinations and automatic bays). |
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| Potential
Growth/Expansion:
There is evidence that the market is currently exiting a low point in both weather and competitive cycles. More importantly, the expansion of the local metro economy (one of the fastest growing markets in the nation) supports projections that increases in new car sales and growth in consumer income will continue to accelerate in the next few years. In 2005 Idaho ranked third among all states in population growth, adding nearly 4% more jobs in third quarter, and with personal income projected to increase by 7.1% in 2006 (versus 6.5% national rate). |
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| Competition:
SMSA of Boise, Idaho, is located in the Intermountain West region of the US, with a population of about 560 thousand, and has consistently been recognized as one of the best places to live, to work and to own a business. The local market for car washes is estimated by management to be improving due to positive trends in the three major factors affecting revenues: good weather, new car sales and growth in consumer income. |
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| Owner
willing to train:
The owner is willing to provide appropriate transition and mentoring assistance. |
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| Reason for selling:
The owner is approaching 65 years of age and would like to retire. |
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Seller Reference Number: 50077.2
BusinessMart.com Listing Number: 17833 |
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