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Branded Chain of Touchless Self-Service Car Washes

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. There are significant advantages to purchasing an existing chain of car washes rather than building new facilities. A new car wash will not offer a material advantage given the ease of keeping an older car wash competitive. 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). Since fewer good site locations are available in this competitive market and land costs continue to escalate, the payback period on building new car washes is relatively long. On average an established car wash can be purchased at up to 80% of its expected replacement cost and generate immediate cash flow to the owner. More importantly, the real estate value creates built-in gain at purchase given the strength in the local commercial real estate market.