SCOUTING LAUNDROMATS TURNS INTO CAR WASH OPPORTUNITY
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- Опубликовано: 6 сен 2024
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INSTAGRAM: / carwashchronicles
As an entrepreneur I am always looking for different types of investments in order to generate a great return on my money. I love the car wash business but they are becoming harder to find so Im looking at other investment opportunities.
I wanted a similar business model as to where it would generate passive income with little work on my behalf once I've built the business up and put the right team in place. I realized laundromats fit that mould so I started researching them and learnt as much as I could online but now its time to get out into the real world and put what I have learnt into action.
Laundromats provide that passive income where only 2 days a week is needed with the right employee in place just like a self serve car wash business.
Check out the video and follow me along today of me scouting for coin laundries for and as I was scouting laundromats I stumbled across a self serve car wash completely shut down and what appears to be a perfect deal in my mind!
After working for my Uncle for 2 years at he's car washes I really wanted my own and I came across this car wash. It was completely shutdown for many years so I approached the owner of the land and made a deal with him.
It took me 6 weeks to bring it back to life and open it and now the customers are starting to pour in. Not to mention I opened it during winter so I am yet. to see its full potential but here's a small taste of how its going so far!
6:11 calling the city business license office has always worked for me when looking at commercial properties.
Great idea. Thanks 🙌🏻
You had me at "feet under the door"
Haha. Was a little freaky
Please keep us updated on this location I’d love to know the process and if you are able to catch a good deal on it
Yes. I will for sure. 👍🏻
I actually started with looking for laundry center locations, then saw that car washes are in a similar category, with even less capital & labor, potentially. One of the reasons I was looking for laundry locations was for the real estate itself. Even if I couldn’t get the land/building right away, I’m trying for a lease/option or even just a right of first refusal so I have a leg up when they do decide to sell. Because it likely will seem far off & if structured right, a win for the owner, I’m confident I can make them happen. Hopefully it can work for you, especially when real estate goes on sale!
Absolutely Thomas. The goal is always to own land/building. That way can always receive rent if ya ever get tired of running the business and wanna sell it.
Chris , get on to the video of the laundromat King Danny . Really worth while !
Yeah Peter. I got it. Great information. Thanks
Chris we know you do your research since you carry your books with you. Thanks for sharing!
Thanks for watching! And yea. Always 👌🏻
Thank you Chris, be sure to keep us updated please. I have one like this in a nearby town it’s sold a year and a half ago for 75,000 and it still looks exactly the same not sure what’s going on but I would like to look into it
Absolutely check it out. Should be able to get it very cheap even $0 down
@@CarWashChronicles Wow really that’s amazing yeah I’m totally gonna look into it then thank you so much
@@CarWashChronicles I’m calling the city today and getting info. Wouldn’t mind having you as a coach or a mentor if possible. I’ve been wanting to get a business but not 100% on exactly how.
Hi bro!
I learn very much from your videos. Those are attorney books. Have a great day
That’s great. Thank you.
If anybody out there sees this, don't waste your time going through looplet trying to contact the broker. Instead what you need to do is look the address up at your county tax appraiser's office. The owners information will be right there on public record with an address. Just go directly to the owner skip the broker. Most of the time those listings are really old anyway
If you get it make a series of how you remodel the whole thing. You could make videos of 20-30 minutes no problem (kinda like JerryRigsEverithing is doing with his EV-Hummer project or the tv shows that flip houses)
Yes!! I would for sure. Would have to hire a camera man. Can call it “flipping car washes” lol. Except I would keep it lol
@@CarWashChronicles probably “restoring an abandoned car wash” would work better for the RUclips algorithm
Take a look at this one.. Victorville which isn't far from Hesperia.. 15658 Village Dr, Victorville, CA 92394.
Yes I did. Thanks for looking out. I think the street is too quiet for me but still might be a good deal
@@CarWashChronicles They just completed a huge housing tract less than a mile away.. Digging the content..
Man I love your energy
Appreciate that!!
@@CarWashChronicles you made me drop off notes today for 4 carwash I've always wanted acar wash location your energy inspired my push. Thank you 😊
Hi Chris, looking forward to you eventually getting a laundromat... If done properly, I've seen people get around at least 40% profit margin. With such a price difference between car washes and laundromats, do you think car washes are that much better?
I wouldn’t say they’re that much better I would say they are a very similar model and comes back to the deal. Weather there are finance repayments involved or not. But my profit margins are great in car washes and if I can match them with a laundromat then I would be very interested in laundromats
Love the videos.. If the owner came back and agreed to lease the car wash, what kind of rent could you expect to pay for a carwash like that?
Probably worth around 4K month.
Laundromats are big money for a good one. Most of the good ones never come up for sale.
Hi did you buy the self car wash in Pico Rivera on Rosemead blvd i use to was my car back on the days it use to be the best in town let me know. Also the restaurant cross the street is great to eat 👍
No I didn’t. I’ll have to try it out
Police for a welfare check on the individual whom you see part of.
City inspectors, for the door not locking, and the obvious conditions. Trash and graffiti.
Talk to the neighbor businesses on the other side of the white chain link fence. Get some allies next door to put pressure on the owner. Their business is suffering because of this danger.
Are those law books in your truck? I saw them on the shelves somewhere on another video. Do you study law too?
Yes they are. My wife is a lawyer. Far from my brain power lol
question With all the experience you have at what price is that property a great deal. its still for sell now at 1,300,000
In my opinion…half that.
Would a carwash in a dangerous area be a no for you? Might be a silly question but worth asking
Like mine? Lol. Not at all. I mean depends how dangerous, risking your life ain’t worth it
Dude! You’re doing it wrong. The laundromat doesn’t need to be for sale in order to scoop it up. I thought you were a fan of my channel! I’m sending you my course ya wallaby!
Bloody hell! Us Aussies got it all wrong. Oh wait. That’s just me. Super appreciated!
And, that's it... straw broken. I'm coming to visit you. What part of Australia are your car washes? @Car Wash Chronicles - As for this Car wash; I would call the land owner and attempt to negotiate the LONG TERM LEASE of the business ONLY. My take; "You are trying to sell the land and the business to a very small niche currently. How many investors want the hassle of operating a car wash? If you lease the business to me you would then be selling to a wider market. Folks who want to own a corner cap in a brilliant area. Investors who are looking to buy and hold dirt! The worst he could say is "yes"!
Great point! I’ve learnt a bunch on negotiations from you. Been in talks for many months as you say patience is sometimes the best approach. They want ridiculous amount of rent and seem firm on it. I’ll let it sit a few more months. Let homeless get worse and the trash can build up some more. Let the city contact them to clean it up. I’m here when they want the headache to disappear.
Brilliant! I'm game to move in and set up camp. I'll bring some fireworks as well! @@CarWashChronicles It's not hard to get what YOU want if you give them what THEY want. Sometimes you just need to enlighten them. I never say "Win Win" because in every negotiation, I am the biggest winner!
Yes!! Please do. Bring some buddies with ya as well and a really loud speaker. Love the advice and all makes sense. Would be a great one and another jewel in the crown as feathers blow away. 😆🙌🏻
Are you selling books as a side line 😊😊😊👍👍
🤣🤣 I wish. Ended up in trash lol
How much do you earn in car wash business annually
Havn’t been open for a full year yet so don’t have that number
What’s the address maybe I’ll buy it and rent it back to u
It’s in pico Rivera on Rosemead blvd. I’d love to get that one but after trying to negotiate with the seller they want to sell the land outright in one settlement which is out of my price range. But would love to rent it and build it up.
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