Asking Price: $2,975,000

Gross Revenue: $474,690

Seller Financing: Since the sale includes real estate and equipment, the purchase transaction may be eligible for a program offered by the SBA 504 Loan Program, which offers favorable lending rates and terms to qualified buyers and businesses with only 15% down.

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.

Year Established: 1983

Employees: 7 full time - 6 part time

Facilities: Four strategic locations ranging from 15,246 to 39,204 square feet, totalling 117,133 square feet, with 21 self-service bays (including 4 mega bays) and two automatic bays, well maintained with good curb appeal.

Market Outlook and 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. 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).

Management Training and Support: An established chain of car washes, with a recognizable brand name, loyal consumers and experienced management, provides added value that increases the probability of a smooth transition to new ownership. The owner has identified investment in upgrades and promotional tools that will maintain market share and deliver growth in revenues at strategic locations. Given the recent poor performance of newer car washes built in the last few years, a buyer has the potential to expand this chain of self-serve car washes throughout the greater metro market by purchasing other single location washes under a roll-up/re-branding strategy. The owner is willing to provide appropriate transition and mentoring assistance.

Reason For Selling: The owner is approaching 65 years of age and would like to retire in order to pursue a new business which he can operate effectively from a resort community.