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The How of Business - How to start, run, grow and exit a small business.

275: We Sold the Car Wash Business

The How of Business - How to start, run, grow and exit a small business.

Henry Lopez, Levante Business Group

Entrepreneurship, Business

4.7522 Ratings

🗓️ 23 September 2019

⏱️ 55 minutes

🧾️ Download transcript

Summary

Selling our car wash business with Henry Lopez & David Begin. Henry and David announce and discuss the recent sale of the highly successful exterior-express car wash business, Wild Blue Carwash, with three locations in Colorado. They share highlights of how and why they decided to sell this small business, the emotions associated with the sale, the process they followed, and what's next for each of them.

Henry Lopez and David Begin are the hosts of this episode of The How of Business show – dedicated to helping you start, run and grow your small business. (TheHowOfBusiness.com)

Transcript

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0:00.0

Welcome to the How of Business with Henry Lopez and David Begin, the podcast that helps you start, run, and grow your small business.

0:12.9

And now here are your hosts.

0:15.0

Welcome to this episode of the podcast.

0:17.0

This is Henry Lopez.

0:18.4

And my co-host is with me today.

0:20.7

David Begin. Hi, David. Hey, Henry. How are you? Doing well. You're back in Colorado Springs, right? Back in Colorado Springs, yeah. Yeah, we're starting to see some leaves change. So we were kind of driving in the mountains and last week. And I see that the leaves are starting to change so the leaf changing season is

0:39.3

upon us it's crazy it's September September 16th as we record this episode so the cold is

0:46.3

already coming that's why I stay that's not cold they're just changing it's not quite cold

0:51.3

no that says it's cold and we need to get out. No, no, not yet. Not yet. No. All right. Well, this episode, we're going to chat about the fact that we sold our existing car wash locations. And so that's, for those of you who have heard me talk. And of course, David often and usually talks about it on the podcast. We have sold our existing locations, David.

1:14.4

Yeah, yeah. So that's an interesting thing. For me to even say that sometimes is really hard.

1:19.9

And we're going to talk about the emotional components of this, but to feel, I've been a car wash owner for the last 13 years and say I don't own car washes right now is really can be can be emotionally difficult to even get those words out. I know. It's just weird. Yeah. Yeah. But we'll talk about it. It's a good time. So, you know, it's, it's, you know, like they say, it's the best of times.

1:44.3

It's the worst of time.

1:45.8

And it's just a transition.

1:48.5

It's a transition phase that that I'm in right now.

1:53.2

And maybe I can give some ideas and some tips to people that are considering it or are going through it.

1:58.0

That's right.

1:58.3

And we're fortunate, right?

1:59.5

We were fortunate.

2:02.1

You worked hard to build a successful three locations. And so we're fortunate to have had the opportunity to sell the

2:08.2

business. So for the people who don't know, to summarize, we had three locations, existing

2:14.9

locations of self-serve, exterior express car washes. David,

2:21.1

you had two that you started 12 years ago. Is that right? 12 or 13. Yeah, so the first one started in

...

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