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Free Money Finance

Turns Out a Car Wash is Not So Hands-Off

Posted: 22 Nov 2016 02:05 AM PST

Not too long ago I posted 5 Part-Time Jobs That Are Perfect for Retirees

One job listed was "business owner" to which I commented:

I've considered buying a "hands off" business like a car wash or vending machine company (and let my son run it). Not sure if that's in the cards yet.

An FMF reader sent me this email soon thereafter:

We owned a self-service carwash for 14 years (it actually owned us). There is a gross misperception that you just go there and empty the money. Definitely NOT a hands-off business.

We would have to go there 1-2 times daily due to electrical/plumbing/general maintenance issues. If you do not know how to do this yourself you will be out of business very quickly. Repair people are hard to find and charge a fortune!

This does not include the 2 am calls from the police needing us to come there due to crime related activity.

We originally purchased the business just because of the location. That is what has paid off, selling the land. The DOT bought 20% of it for road expansion and paid what we originally paid for the whole thing. We still own the remaining 80% and although it is a small piece of land in and of itself, it is strategically located and we get large corporations contacting us wanting to purchase. Fortunately, we are in a position we do not need to sell, but if the right offer came along we would take it.

I would not recommend a carwash business to anyone!

Yikes!!! Consider it struck off the list!!!

Ok, so let's replace that with, uh, a storage facility business...


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