According to a 1993 New Jersey Department of Transportation traffic survey, the traffic count on King Road west toward Bella Rd.
According to a 1993 New Jersey Department of Transportation traffic survey, the traffic count on King Road west toward Bella Rd.averaged 9,673 vehicles and 8,533 vehicles east toward Wainledge Rd.
The car wash will service the local community in an effort to develop a loyal base of repeat customers as well as draw new customers from the surrounding communities and attract the area's growing local and commuter traffic. More recently he has been assigned as project manager of the $15 million electrical construction project at the new Civic Arena. Jones brings extensive knowledge and experience in the areas of project/program management, electrical and mechanical engineering and construction, contract administration, materials procurement and labor management.
Scott Jones will be responsible for operational and financial management, sales, marketing and promotion. Jones has been a corporate lender for Citicorp serving as Vice President in the middle market lending area for the past 11 years. In May, 1994, he received a Masters of Business Administration—Finance from Georgetown University. in Mechanical Engineering from Boston University, Mr. Market : The company's target market will consist primarily of local residential customers.
The Simcoe facility is a well-maintained corrugated steel structure, but has no front access and is on a small lot with only two vacuums.
The Downtown Tillion wash is well maintained and has good front access, but has limited vending facilities and only three vacuums.
The remaining balance of the required funds will be provided through a $60M seller note and from J&J's equity contribution of approximately $78M for project costs and $73M for start-up costs and working capital.
Use of Proceeds : The company intends to use the proceeds of the bank loans to finance building construction, equipment purchases and installation and site development costs.A breakdown of these costs is as follows: Funds Sought : J&J is seeking to finance 2M, or 70% of the OM proposed project cost, through a local financial institution.The company will seek to obtain either conventional mortgage/equipment financing or an SBA guaranteed mortgage loan at a fixed rate amortizing over 15 to 20 years, and a fixed rate equipment loan amortizing over five to seven years.Product and Services : The company will provide state-of-the-art, reliable, customer friendly products and services, including a seven-selection wash control station in each self service bay, seven vacuums, two fragrance machines and several accessory product and food/drink vending machines.For the customers' convenience, the automatic bay will provide a complete, detailed wash and wax.The self serve car wash industry is an established industry although it continues to grow within the Northeast at a rate of 5-8% annually.Engineering and design improvements have contributed to the industry's growth and have enhanced profit potential.Delaware County is the tenth-largest county in the state and East China Township is the fastest growing township in the county.J&J will develop a well equipped, attractive, low maintenance, customer friendly car wash facility. Jones was project manager for the million electrical construction project at the New Jersey Convention Center.Uniqueness : Several factors will make the J&J car wash unique.The company will offer a modern, easily accessible, high quality car wash facility featuring a variety of income producing services, including vacuums, fragrance machines, carpet shampooers and vending machines.