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Thread: Operating a Car Wash Business

  1. #21
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    Quote Originally Posted by Mitsu3000gt View Post
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    Out of curiosity I googled the cost of the "Laser Wash" systems CO-OP uses and apparently it's only around $30-50K per bay compared to $8-10K per bay for self-serve. I assume that's USD. Doesn't sound too horrible, but I agree if the location was good the land would likely be the bigger concern.

    The people I have seen looking after car washes (and yelling at people drying their cars in them haha) all seem to be driving 10+ yr old German cars so I don't know how good the money is.

    That cost was in reference to the new large hightech carwashes, so several bays and a mix of automatic and DIY bays like the one in the NE and off Blackfoot. My Uncle owns a company that builds them and said that was a rough ballpark for those units. (Which I believe he built one of them)

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    Quote Originally Posted by Mitsu3000gt View Post
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    The people I have seen looking after car washes (and yelling at people drying their cars in them haha) all seem to be driving 10+ yr old German cars so I don't know how good the money is.
    Agreed, every time i see anyone driving a 10+ year old German car they have to be broke, I've never heard of anyone wealthy driving old cars. It would also make no sense for a guy who can come up with that kind of money to go and hire 1 employee to run it, why pay someone minimum wage when you can do it yourself right. Man you say some dumb things
    Quote Originally Posted by Mitsu3000gt View Post
    and I did not have the only say in the matter (most people just want it done ASAP and don't care about quality).
    Quote Originally Posted by Mitsu3000gt View Post
    If anything we made a better decision because we had a consensus and were all on the same page.

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    Quote Originally Posted by Rocket1k78 View Post
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    Man you say some dumb things
    Ironic post. I know of a few people that have 8 figure net worths that drive old cars. One drives an early 90s 5 series. Another drives two early 2000s porsches (911 and cayenne turbo), and a rusty 98 silverado half ton.

    I agree that a bunch of people who drive 10+ year old german cars are broke, but wealthy people do drive old cars.. it's way more common than you think.

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    Quote Originally Posted by cjblair View Post
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    Ironic post. I know of a few people that have 8 figure net worths that drive old cars. One drives an early 90s 5 series. Another drives two early 2000s porsches (911 and cayenne turbo), and a rusty 98 silverado half ton.

    I agree that a bunch of people who drive 10+ year old german cars are broke, but wealthy people do drive old cars.. it's way more common than you think.

    Agreed, I know a guy with close to an 8 figure net worth driving a 2012 Ford Fiesta that's dented to shit that he inherited from his Grandma. Its worth Maybe $1000?
    An important lesson that I've learned (the hard way) is stop caring what other people think of you. Once you can be genuinely happy with who you are life becomes much funner!

    Hell I never thought I would be driving a $3500 Honda Fit as a daily driver but here I am! Its cheap as hell, and allows me to KEEP my money working for me.

    Anyways, back on topic. Car washes and shit.

    What thread was this even split off from?

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    Quote Originally Posted by vengie View Post
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    Part of me has always wanted to open a car wash.

    They are a license to print money if done right and in the right location.
    Make sure you own the land or have an iron clad lease agreement, I know a couple car wash owners who had the rug pulled out under them because of shitty lease agreements on the land.

    The west side needs a wand wash, you would make a killing if you could get a hold of some commercial land.

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    ROI might not be as good as it sound, it still makes pretty good cash flow. I've seen friend of mine's makes north of 500k in Calgary but they bought the business and property for 5mil +.

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    Quote Originally Posted by BavarianBeast View Post
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    Then factor in all other expenses. I looked at buying one a short while back, and they were returning 2% on a good year.
    I would think youíd want to leverage that purchase, land and assets... should be easy enough to secure financing

    Letís say $4m land, $1m equipment... would probably need to put up $1.2m

    10 bays, $1/min... busy 8/24hrs 365 days a yr...

    Average of 12% on borrowed funds, about $500k interest payments annually... leaving you about $1.2m in revenue... even a couple min wage staff on site and youíre returning 80-90% on your capital, plus own appreciating land

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    Quote Originally Posted by ercchry View Post
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    I would think you’d want to leverage that purchase, land and assets... should be easy enough to secure financing

    Let’s say $4m land, $1m equipment... would probably need to put up $1.2m

    10 bays, $1/min... busy 8/24hrs 365 days a yr...

    Average of 12% on borrowed funds, about $500k interest payments annually... leaving you about $1.2m in revenue... even a couple min wage staff on site and you’re returning 80-90% on your capital, plus own appreciating land
    You'd also have to pay some multiple of cash flow.

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    Quote Originally Posted by Buster View Post
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    You'd also have to pay some multiple of cash flow.
    To the lender? Lots of private money out there that would do a straight interest only deal... but there would also be fees attached to securing the money, and also on renewals

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    Quote Originally Posted by cjblair View Post
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    Ironic post. I know of a few people that have 8 figure net worths that drive old cars. One drives an early 90s 5 series. Another drives two early 2000s porsches (911 and cayenne turbo), and a rusty 98 silverado half ton.

    I agree that a bunch of people who drive 10+ year old german cars are broke, but wealthy people do drive old cars.. it's way more common than you think.
    My bad, i though it was pretty obvious i was being sarcastic about agreeing with mitsu saying you're broke if you drive an old car. I wasnt agreeing with him at all and thats why i said he says dumb things lol I know a few wealthy people who drive shit boxes too. If i had to lend money to someone and hoped of getting it back and had to choose between a guy with a 2019 bmw or a guy with a 2009 bmw i would probably go with the 2009
    Quote Originally Posted by Mitsu3000gt View Post
    and I did not have the only say in the matter (most people just want it done ASAP and don't care about quality).
    Quote Originally Posted by Mitsu3000gt View Post
    If anything we made a better decision because we had a consensus and were all on the same page.

  11. #31
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    I forgot to add. You can also sign up companies with fleet vehicles and give them a flat rate. Its not necessarily dealerships that may use it. I remember that we had a few companies sign up.

    A lot of wealthy people I knew drove some shitty ass old vehicles too. Some had some very nice ones indeed.

    I remember this one guy turned up with this classic car from the 1950's. After he washing the car it would not start. I was in the bay next door, all I could hear was the engine struggling to turn over and him constantly cursing like a old man 'Son of a bitch.. god dammit'.

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    my ex's father... for every 0 added to his net worth, his vehicles dropped a bracket... 7 figures, SLS AMG, then older E63, now at high 8 figures... mazda 3, then he bought a mini RV and sold his mansion outside of london and was going to live in the RV cause Anthony Hopkins does that 6 months out of the year or some nonsense

    he gave up on the RV, bought another house and just rents villas in the Mediterranean like a sane rich person now... very questionable for a while though... thats true "fuck you" money though... zero fucks given, and random ass impulse decisions

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    Quote Originally Posted by R-Audi View Post
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    That cost was in reference to the new large hightech carwashes, so several bays and a mix of automatic and DIY bays like the one in the NE and off Blackfoot. My Uncle owns a company that builds them and said that was a rough ballpark for those units. (Which I believe he built one of them)
    Sorry I thought I replied to this but I don't think I did - you would have the better information then! That's definitely more than I thought.

    And I was clearly joking about the car comment, if it somehow wasn't obvious with the actual laugh inserted into the sentence lol. Just a funny stereotype IMO. CEO of a company I used to work for drove a 10yr old base model Grand AM, and was probably one of the richest people I have ever met in person.
    Last edited by Mitsu3000gt; 07-04-2019 at 01:57 PM.

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    https://www.cnbc.com/2017/09/21/why-...heap-cars.html

    I drive a shitbox so people know I'm rich

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    Quote Originally Posted by ercchry View Post
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    To the lender? Lots of private money out there that would do a straight interest only deal... but there would also be fees attached to securing the money, and also on renewals
    No, I mean to the seller of the business.

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    I mean. If you spend all your time working ( most CEOís etc., should probably put my flame suit on for that one) then you are less likely to have a substantial hobby interest in cars.

    Cars likely just donít interest them nearly as much as using that capital for work.

    At least thatís my theory?

    As for running a car wash. Iím sure there are worse jobs.
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    fact.

  17. #37
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    Quote Originally Posted by phreezee View Post
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    https://www.cnbc.com/2017/09/21/why-...heap-cars.html

    I drive a shitbox so people know I'm rich
    I'd be curious to see how many miles/kms they put on these vehicles. They may own shitboxes and drive them on occasion but they are most likely using a car service/driver/jet/etc..

  18. #38
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    A Carwash owner died yesterday.

    https://www.cbc.ca/news/canada/calga...lled-1.5199293

    The owner of a Centex gas station in southwest Calgary died on Wednesday afternoon after he was pinned in a drainage pit in the gas station's car wash.

    Centex Petroleum owner Shafiq Bhura said the owner of the Cedarbrae location died, but that his name won't be released as his family has requested privacy.

    Police said at 12:40 p.m. they responded to the call at 11211 Oakfield Dr. S.W.

    The 64-year-old man was cleaning out a drainage pit in the car wash when the driver of a vehicle drove in, pinned the man against the edge of the pit, killing him.

    "We are deeply saddened and heartbroken and are doing our best to support his family through this difficult time," Bhura said in an emailed statement.

    Police said the incident is still under investigation, but they don't expect charges to be laid.

    Occupational Health and Safety have also been notified of the death and are investigating.

  19. #39
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    Quote Originally Posted by Buster View Post
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    No, I mean to the seller of the business.
    Ah, I thought we were building one from scratch?

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    Quote Originally Posted by ercchry View Post
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    Ah, I thought we were building one from scratch?
    I think BavarianBeast mentioned he was looking at buying one. But your analysis is spot on for a setup.

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