My CARWASH Problems Have Cost Me THOUSANDS!

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  • Опубликовано: 30 окт 2024
  • I have carwashes down to a science. If you want to do carwashes as well click the link:
    investmentjoyt...

Комментарии • 174

  • @janhermanek2159
    @janhermanek2159 Год назад +8

    Love your videos. I am currently in the process of receiving a building permit for my own 4 bay carwash here in Europe. Here as the standard goes, 90% of the new builds can't risk leaving money for X days in each operating station, thus we use coin vacuums that transport all coins to a safe inside the container with all the machinery. The only place left exposed to thiefs are the vacuums. Credit card or loyalty card (tokens) payments in each bay are also popular.
    I can imagine an investment into this kind of refurbishment would be significant, also considering the losses when it would require shutting down the carwash for a few days.
    Most of the carwashes here in Europe have heated concrete floors (to prevent clients slipping during winter) and the construction of the building is a steel frame, with either safety glass or PVC banners separating each bay and a centrally located container with the machinery.
    Wisching you good luck with all your business ventures

    • @InvestmentJoy
      @InvestmentJoy  Год назад

      Sounds quite similar to other operations I've seen here in the us

  • @danielevans9106
    @danielevans9106 Год назад +10

    I'm saying yes to buy the car wash. Because you know the faults and to make it better for the community

  • @officialericdavis
    @officialericdavis Год назад +7

    Only true watchers know why we are commenting “YES” 😊

  • @tjsynkral
    @tjsynkral Год назад +12

    I'd like to buy $500 worth of quarters from that car wash at the end just to see what the genius with the sign is gonna do about it.

  • @leafcam
    @leafcam Год назад +1

    Yes, you should and possibly upgrade the maintenance of the lot.

  • @OhRonaldo
    @OhRonaldo Год назад +13

    Brandon knows the value in that location and the investment needed for an automatic bay or two and the return he'd make, but he's being very cautious with his capital, especially during an inflationary, high interest rate downturn, something he's not invested through before. ❤

  • @lotterylottery2984
    @lotterylottery2984 Год назад +7

    Remember Danny told you not to switch to credit card in the laundromat.

    • @enterchannelname7568
      @enterchannelname7568 Год назад +2

      I don't know why, more payment options means larger customer base, plus the amount a reader company like nayax skims is only about 5%

    • @TheTrueHardcorefr3k
      @TheTrueHardcorefr3k Год назад

      @@enterchannelname7568 You can lie on your taxes.

    • @enterchannelname7568
      @enterchannelname7568 Год назад

      @@TheTrueHardcorefr3k yes you can with cash, but sales tax isn't too much usually

  • @jowens4883
    @jowens4883 Год назад

    I come from a plumbing and building background. When my family owned rental properties etc, we did all the repair and renovation work ourselves. With the exception of electrical. Now of course you have have to put money into tools etc. If I where you, would look into a gun carry permit and I have always had dogs that where intimidating, but they where my babies so no harm would come to them with going thru me first.

  • @123chargeit
    @123chargeit Год назад +1

    Ran a car wash for a few years in college and I can tell you this, invest in something else cause they are a headache. Nothing like having to go clean a wash bay drain trap because its full of mud at midnight and it below freezing. Or really working on anything when its below freezing when it just so happens to be when everything breaks (water and freezing temperatures don't mix). Plus they are a lot of clean up work (twice a day at least all the bays and any trash cans at vacuums. Not to mention its not like there cheap and there is a lot of liability exposure (from personal injury from busting ass on ice to scratching cars with the automatic bays). Much better ways to make money.

  • @rexhenkle3377
    @rexhenkle3377 Год назад +1

    Brandon I will tell you this. I've never used it card for doing laundry or at a carwash. I used it for a vending machine a few times when I spent 14 months in rehab with leg issues.

  • @CoreyChambersLA
    @CoreyChambersLA Год назад +1

    It's a good idea to take both cash and credit cards.

  • @aaronrichardson6473
    @aaronrichardson6473 Год назад +1

    yes. But buy it at $500,000-$750,000. You will be putting a lot into the upgrades on this location.

  • @AustinDashes
    @AustinDashes Год назад +2

    I have a car rental business on turo with a few cars as well as Uber/Lyft taxi business so I am constantly at the carwash with my fleet for washes and probably 40% of the time the wash is closed because something is broke, no joke! I'm sure you can make a lot with them but you lose a lot too with the doggone maintenance 🙁😕

  • @hunterkill97
    @hunterkill97 Год назад

    Yes, you should buy the car wash. Can't beat the location as well.

  • @tucobenedicto109
    @tucobenedicto109 Год назад

    Yes, is you lowered the buying price. Put two or more automatics in. Especially the bays that need the most work. Find a way to fight the cold. Put a soft touch wash (automatic) in. For cars that say do not use high pressure wash! 🙂

  • @starwreck
    @starwreck Год назад +3

    nooo not the pipes

  • @matthewbrown6163
    @matthewbrown6163 Год назад

    Happy New Year - watching this again with my mate who owns the laundromats with his sister. He complains about the need for $1 coins here & I try to keep a few thousand in $1 coins in my office for him. He only has to call & I will deliver a few bags for him (we do not roll coins but use plastic bags that are weighed in the banks).

  • @lakecityransom
    @lakecityransom Год назад +3

    Would be curious to hear about business expense writeoffs when it comes to these huge business repairs/improvements. Does it make them a lot less scary? It's impressive you've managed to cash flow all these investments thru the roughest of times. Should feel like nothing but blue skies now. No jinx.

    • @jgs1703
      @jgs1703 Год назад

      A $1000 repair only costs the business about $750 because of the write offs.

    • @loro1rojo
      @loro1rojo Год назад

      @@jgs1703 clearly some people don't understand writeoffs.

  • @metrowash
    @metrowash 11 месяцев назад

    Been in the carwash business since the 90s. You should be able to operate a self serve with at least 50% margin. My expenses are 35% of my gross right now. Having said that, I won't pay based on potential or so called industry averages but on actual proven gross receipts. I've seen six bay washes that gross less than 50 k/yr total.

  • @lindawolffkashmir2768
    @lindawolffkashmir2768 Год назад

    There’s a lot of difference between using a card at a car wash vs a laundromat. It’s more efficient at a car wash, especially with an automatic bay. However, the option to use both trumps all. A laundromat services a lot of people from all walks of life, and a lot of those people don’t prefer to use credit cards. A lot of people from poorer neighborhoods may not even have credit cards. If you were to set up card use at a laundromat, you’d have to offer it in a similar way, perhaps have a card option on the larger machines, but always accept cash.
    No matter what anyone tells you, remember cash is king.
    You could consider a part time maintenance position, for maybe 25-30 hours a week, with option for overtime, depending on need. If they just have to make standard repairs, it’s a good deal for you, it could save you some money not having to pay someone for 40 hours per week, and many people now would like a shorter work day/week.

  • @patricksquires77
    @patricksquires77 Год назад

    Install a vehicle sensor counter for two weeks. Make offer on the data.

  • @frankpappalardo630
    @frankpappalardo630 Год назад

    Yes two guys from California open up to laundromats on the southside of Chicago suburbs they’re beautiful but they take a card Property taxes are so high and the stores are so empty

  • @mr_jake.y8348
    @mr_jake.y8348 Год назад

    You will have that car wash looking and running good in no time. Get it my friend.

  • @Aarongrubbworm
    @Aarongrubbworm Год назад +1

    Yes.

  • @randoir1863
    @randoir1863 Год назад

    I'd say buy it if you can get it for a good price that makes sense for you. It looks like it needs some TLC to bring it upto a good running condition.

  • @justisemontgomery4263
    @justisemontgomery4263 Год назад +2

    Yes

  • @sydneysimmons3302
    @sydneysimmons3302 Год назад

    I never liked that car wash in Chillicothe. I always felt nothing was taken care of. I always use the one on western ave. Same style idk if it’s the same owner or not always seemed to get my car cleaner. I will say the one on bridge is almost always packed though. Maybe with improvements it would be worth what he’s asking

  • @kellybyrd9772
    @kellybyrd9772 Год назад

    Yes for the right price. I'm looking for my first one now too.

  • @TheTac0Six
    @TheTac0Six Год назад

    yes at 500K could be worth it
    My issue is all the broken equipment. at 500 + another 30-40K in reno on equipment yea Id make that offer

  • @elliot8737
    @elliot8737 Год назад

    With a little TLC you could make that car wash very profitable. Numbers are numbers. I say if you can aquire the property for 750k your still at a 10-20% margin even with the resiculous rates now. Now your other business are thriving. over a little time, with some money invested, an auto wash bay or two. The outcome could potentially put you to 40% margins within a few years. I say do it.👍

  • @nightlightnumber9
    @nightlightnumber9 Год назад

    Please tell me that I’m not crazy and you’re related too “Bens Appliances and Junk” channel. You to look similar and if Im in another room I swear its you talking. His channel is awesome also, I learn a ton.

  • @watomb
    @watomb Год назад +2

    Wait to buy it commercial real-estate is going to tank.

  • @bryanmoore4699
    @bryanmoore4699 Год назад +1

    If the deal makes sense do it!

  • @GrumpyXer
    @GrumpyXer Год назад

    I want to patronize the car wash near me, but the change machines don't work half the time, the credit card readers rarely work, I don't believe I'm getting wax or soft water as it doesn't change coming out the nozzle. So I have to drive miles out of my way.

  • @SpringTrap12341
    @SpringTrap12341 Год назад +1

    Yes buy it

  • @TheJeracuda
    @TheJeracuda Год назад +3

    with that last car wash you showed with the 8 bays would you be able to convert any of those bays into an automatic bay? If so would that even be profitable to do or would the amount of work needed to be done to do so just not be worth it at all?

  • @BigBearBen
    @BigBearBen Год назад +1

    yes

  • @lofiDigitalArt2
    @lofiDigitalArt2 Год назад

    The last car wash is my town he's right it's in a bad area.. u should buy it because the guy not taking care of it no one wants to the $25 car wash

  • @hung_low
    @hung_low Год назад +1

    "YES"

  • @georgemcknight9424
    @georgemcknight9424 Год назад

    Its a buy if you can afford to upgrade the equipment?

  • @dancapewell
    @dancapewell Год назад

    It's interesting what you say about still needing to take cash in the US over here in the UK I find that cash is on its last legs in everyday life everyone just uses theor phone to pay for everything contactless is king and just getting more popular and common for places to not take cash anymore

    • @thmsmgnm.4513
      @thmsmgnm.4513 Год назад

      Anyone who does not carry cash is a fool. From power outages, network outages, to e-theft, to governmentts getting thuggish there are any number of ways for lazy people to be up scheisse creek.

    • @dancapewell
      @dancapewell Год назад

      Those things are not really an issue where I live I the UK

  • @HermannTheGreat
    @HermannTheGreat Год назад

    One of your better videos. Buying any other new ventures?

  • @ant647448336
    @ant647448336 Год назад

    Yes, buy it.

  • @Pyro4100
    @Pyro4100 Год назад

    If half a million is worth it for that car wash to you then I would say pull the trigger I can definitely see that it's going to need some work but you're no stranger to that you've done that already with your other car wash and it's close to your laundromat so you can oversee both locations easily not a bad idea considering you know the size of the place but it definitely needs some work

  • @jarettmeyer4929
    @jarettmeyer4929 Год назад

    Just found your channel for the first time a day ago. Your videos are pretty good. Informative, entertaining and you feel like your there with you. What i DONT understand at all is your thumbnails. TO ME the photos feel really really really cringe. Please consider not using that type of photo.

    • @lancesanderson
      @lancesanderson Год назад

      Hey Jarett, I work with the IJ Team. I appreciate the feedback. Would you be open to having a conversation sometime? I'd love to hear your thoughts on our content, see what you find value in, and figure out how we can improve.

  • @jordankendall86
    @jordankendall86 Год назад

    Curious. Does your margin expectations on the car wash include the cost of your time in checking the property, collecting and reloading quarters, and depositing cash collected?

  • @ronaldgundrum2174
    @ronaldgundrum2174 Год назад

    Wish well on future investments.

  • @GD15555
    @GD15555 Год назад +2

    Delicious quarters.

  • @FireHawk92.
    @FireHawk92. Год назад

    Yes, buy it. Rehab that wash and make it great again.

  • @patman147
    @patman147 Год назад

    yes offer him $500k and he will say no, but stay in touch with him, as the condition of the property indicates they want out.

  • @showrunner2183
    @showrunner2183 Год назад

    Brandon makes this look easy

  • @WoodUCreate
    @WoodUCreate Год назад

    Yes, More is better, but gotta cash flow.

  • @authorjohnwquinn
    @authorjohnwquinn Год назад

    Do it - and Go Blue!

  • @johnathanpeterjoe8022
    @johnathanpeterjoe8022 Год назад

    “Yes” I like watching your videos

  • @troyny1974
    @troyny1974 Год назад

    I would say yes cause I bet you could do a lot with that and it would be very profitable

  • @clayscott8363
    @clayscott8363 Год назад

    I think if you dump a bunch of money into this location, you would start making profit on a long term scale

  • @lookfun7886
    @lookfun7886 Год назад

    If you buy that car wash it looks like you'll have a lot to fix up because it looks in real bad shape right now.

  • @kevinike7319
    @kevinike7319 Год назад

    I was wondering if you would be willing to share with us, what is your car count like? And has it increased since the new equipment? I'm asking because there's a wash near me for sale that is doing much less than I expected. I am wondering for your size and location what count looks like for reference.

  • @kevinlewis9151
    @kevinlewis9151 Год назад

    You would think that a car wash at a truck stop would be worthwhile

  • @jareddory2155
    @jareddory2155 Год назад

    YES! Buy it

  • @ronaldvanengen1887
    @ronaldvanengen1887 Год назад +1

    Yes get it but only pay max $400,000 or what til the 2023 depression hits and pick it up for $250,000! Love the channel

  • @louiee4837
    @louiee4837 Год назад

    Wouldn’t worth it. The maintenance alone would have you down in money. He’s not keeping up with the car wash and you probably just stole a customer of his 😅😅

  • @ralphadams4478
    @ralphadams4478 Год назад +1

    Yes,but alot less than a mill

  • @pmetzler5443
    @pmetzler5443 Год назад

    This is 6 months later.... from posting. Did you get it? buying in my opinion is yes... But absolutely not for $1M $500K Would be a yes If this is the one that does have a larger lot. Even at the fact of $$$ in improvements & Repairs & Maintenance costs for operations.... Yep as you have said in your other videos.... Clean and having curb appeal & machine face restorations & signage are important. Sending msg of quality service...
    When testing the sprayers and bays doing a clean sweep can save time... Although I know you are filming too, and full picture of time savers can't be always multitasked into your video... and just hitting STOP when finished ck'g where you had your employee in where checking equipment in ...
    I have followed you for quiet a while... You have been transparent of the GOOD BAD & UGLY stick with reality of the rentals & car washes & laundry mats....

  • @k_dub
    @k_dub Год назад

    i have a question to you have to rent it ?

  • @FADI_TINY
    @FADI_TINY Год назад

    No

  • @MurrayHerts
    @MurrayHerts Год назад

    I don't really understand the concept of a successful businessman who also needs to offer private coaching to make money.

  • @peaceforall4383
    @peaceforall4383 Год назад

    Yes but like you said not for a million

  • @LorenTedford
    @LorenTedford Год назад

    Well if you think it has value and you have the capital I say go for it... Otherwise stay away that place looks like it needs some work!

  • @qwertytray
    @qwertytray Год назад

    Yes!

  • @shahs3262
    @shahs3262 Год назад

    Updates on the storage unit investment please

  • @moneymaniacs944
    @moneymaniacs944 Год назад

    Yes Yes Yes but only if you can get that carwash at a decent price

  • @azzure79
    @azzure79 Год назад +2

    Yes!!

  • @JamesBailey0325
    @JamesBailey0325 Год назад

    I'm from Akron Ohio

  • @kitionaterejoe5965
    @kitionaterejoe5965 Год назад

    No. Too much money for repairs🤔😤

  • @jerrywilliams8598
    @jerrywilliams8598 Год назад

    Yes
    But you should tell him to fix everything

  • @zachstammen9337
    @zachstammen9337 Год назад +1

    My opinion offer half a mill and see if he counters. You might be able to get a better deal but I’m curious what the break even point is based on the loan and any upgrades needed to get it up to better standards.

  • @estrix6165
    @estrix6165 Год назад +1

    heck yeah

  • @robertdoell4321
    @robertdoell4321 Год назад

    Buy it if you can get it for 500K? Lot of fixing to do.

  • @jackboorsma2668
    @jackboorsma2668 Год назад

    YES

  • @dreamingofsailing757
    @dreamingofsailing757 Год назад

    Yes for half a million

  • @bitehunter122
    @bitehunter122 Год назад +17

    Trust me. The maintenance person should be working 40-80 hours per week. Just being on site, maintenance can keep everything tidy and running smooth. Plus, any little problem can be arrested immediately by maintenance. That care will save you thousands in the long run.

    • @MrCmac731
      @MrCmac731 Год назад +8

      Christ... 80 hours a week,thank f*** I don't work for you.

    • @ethannoser2689
      @ethannoser2689 Год назад

      No no do not trust this man he does not understand how much it would cost u to pay an employee just to save a few thousand bucks. U will keep more money if u don’t hire an employee for 40-80hours a week

    • @spoolin55psi
      @spoolin55psi Год назад

      @@ethannoser2689 full time maintiance saved a entire hotel I worked at from a roof fire when a ac unit caught fire. Bc a federal pacific breaker failed

  • @HafeezBlackLeg
    @HafeezBlackLeg Год назад

    0:54 what type of car is that, can anyone help me?, nice tailight though

  • @davidpenick6248
    @davidpenick6248 Год назад

    Yes buy the car wash

  • @Luisr777
    @Luisr777 Год назад

    I want a car wash a guy is selling one for 550k 7 bay 7 vac how can I buy little to no money down or lease for 1 or 2 years then buy after?

    • @InvestmentJoy
      @InvestmentJoy  Год назад +2

      Check out investmentjoy.com, book a call with my team for direct coaching and training from me!

    • @DaddySafety
      @DaddySafety Год назад

      Just give him an answer

  • @vanitatoftby
    @vanitatoftby Год назад

    YES!

  • @johnnyfeathers2567
    @johnnyfeathers2567 Год назад

    Hey your brother is a genius when it comes to fixing and maintaining machines, why not hire him to take care of all the repairs..or is he just as busy as you? Ah he probably is, I forgot he has his own appliance store etc…

  • @robertwrede7843
    @robertwrede7843 Год назад +1

    Yes if a low ball is accepted. I see $$$ to bring it up to standards.

  • @BruklinBridge
    @BruklinBridge Год назад

    Every time I see this guy I think he's gonna get robbed.

  • @frankpappalardo630
    @frankpappalardo630 Год назад

    No you should not

  • @BoostedMooseGarage
    @BoostedMooseGarage Год назад

    yes but not at a million

  • @jmac2027
    @jmac2027 Год назад

    I think I'd offer $700K, with owner finance 5 years, 6% with 3 month Deferred payments...gives you $40K for improvements, and $2500/m cash flow. Maintenance person, maybe it's time to start a new business. Car Wash repair and Laundromat repair service...you need him 2 days a week, can you find 3 more customers within 45 minutes of his home ?

  • @freakenrican5321
    @freakenrican5321 Год назад

    I wouldn't buy for more than 500k but if you can talk the owner down then by all means get it.

  • @seannewton1798
    @seannewton1798 Год назад +1

    Yes, but not for 1 Mil

  • @joneveritt4950
    @joneveritt4950 Год назад +8

    I'd offer $450k. That's gonna take a lot of work to get up to par where it's not a money sink

    • @mikep4869
      @mikep4869 Год назад +1

      Yep. For a 15% return, that would be the exact fair market price with no financing.

  • @christopherhawkins8376
    @christopherhawkins8376 8 месяцев назад

    Im saying yes

  • @markusmansson730
    @markusmansson730 Год назад

    YES =)

  • @sircampbell1249
    @sircampbell1249 Год назад

    Car wash needs cleaning

  • @jabberwocker6305
    @jabberwocker6305 Год назад

    A million for that location is not worth it. Max would be 600k with the land.

  • @dindog22
    @dindog22 Год назад +1

    only buy it if it's cheap