Site Selection and Business Consulting
Out of the blue, this guy calls into the shop and wants to open the first automated motorcycle wash in the Twin Cities. This was an idea he had seen in locations around the country but was conspicuously absent here. As a pure real estate deal this was a drop kick… he needed a space that was accessible with good visibility on one of several “known” bike runs in the area. But as it turned out, this deal was anything but a pure real estate deal.
When it was all said and done, this was as much of a business brokerage deal as it was a real estate play. However, we take our role in real estate deals very seriously and in order to get the real estate deal done it was going to be necessary to get the business up and running. In the end, we took two congruent paths to make it happen:
- From a real estate perspective we searched for car washes and or property for sale along any of the routes we identified as “known” heavy bike flow roads.
- On the business side we worked with bankers and lawyers to help him secure financing for his dream while helping him find the equipment partners for the wash itself.
Sounds easy enough right. Wrong. After putting all the pieces together and getting all the parties marching towards the finish line…the deal died. But our commitment to crossing the finish line didn’t. As a team, we pulled together other vendors from our networks and successfully revived the deal.
After nine months, we had found the optimal site, negotiated a deal that included the real estate, equipment, along with other business assets, watched the deal die and brought it back to life. And in the end, we brought together the financing and legal partnerships to make HogWash a reality through strong business relationships we had cultivated.