It seems like there is a fair amount of investor interest in car washes but much less in gas stations is there a particular reason for this? It looks like car washes would typically qualify for a 30-year SBA loan vs gas stations at the traditional 10-year term. It also looks like car washes typically command a 10X multiple on EBITDA, perhaps bc of this distinction, while gas stations trade closer to 3X.
I am curious as to this difference in interest given the business models are fairly similar (operations seem to be the pressure point, not a lot of marketing/sales, high volume lowish margins, etc.)
(1) Are there any investors interested in gas stations?
(2) Why do car washes/laundromats seem to attract more attention than gas stations?
Gas Station vs. Car Wash
by a searcher from Johns Hopkins University
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