BLUFFTON, S.C. — First Colombia Gold Corp. announced it has reached an agreement to purchase a full-serve carwash in Bluffton, according to CSPnet.com.
The real-estate development company, which is focused on the convenience store and carwash sectors, said that the current appraisal value of the full-service wash is $860,000, stated the article, and is currently doing $500,000 in annual revenue.
“When we launched our master plan to retool this company and bring it back into a profitable enterprise, we really put in place three areas of emphasis,” said Jason Castenir, CEO, in the article. “We wanted to focus on the commercial fuel markets through our terminal locations and grow our fuel resale business; we wanted to have a strong retail presence through convenience-store, truckstop and carwash facilities; and we wanted to develop our quick-serve restaurant business and utilize that brand within the convenience-store locations.”
Castenir explained in the article that the carwash is a “high-quality acquisition and a tremendous business” that the company was able to put into place.
This equates to more than $40,000 per month in revenue for our company with great profit margins already in place,” continued Castenir in the article.
First Columbia Gold Corp., based in Memphis, Tennessee, also plans to acquire 11 c-stores in Alabama, noted the article.
“We are very excited about the revenue possibilities through these acquisitions and fully expect our revenue to increase substantially,” stated Castenir in the article.
You can find the article here.
