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car wash news, car wash operations, starting a car wash, Uncategorized

Virginia Car Wash Chain Sold To Management Team

58794b18b7428-imageThe founder of a well-known car wash chain in Virginia is retiring after building a bit of an empire in his state. Bob Schrum is selling the business to the company’s management team so that the locations can continue to operate and the company, Flagstop Car Wash, can continue to grow. According to the Richmond Times-Dispatch, the company included eight locations at the time of the sale.

Each of the eight current locations includes a range of services from full automatic washes to pet washes. The businesses included self-serve locations, full detailing and lube stops. Not a bad range of services.

The company started 36 years ago and continues to expand. There are plans to open as many as six more locations over the next five years throughout the state. Schrum will continue to offer advise about purchasing land for those new locations.

To complete the purchase of the chain, the management team formed a new holding company to acquire the assets. The deal went through the first of the month. Employees say it will be business as usual as the chain moves forward under new management with big plans on the horizon.

“These great leaders have over 50 years of combined service with Flagstop and are ready to take Flagstop Car Wash into the future,” Schrum said in announcement from the company.

 

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