OPPORTUNITIES
Our second follow up fund has launched and we are currently accepting new investors!
Current Funds
AP Capital Fund II is AP Capital Partner's second fund raising money to develop and build express car washes, as well as acquire and renovate existing distressed car washes under the established Vibe Car Wash brand. Over the past decade, the express car wash industry has seen tremendous change and a shift from a traditional "mom and pop" business, to a more corporate, retail business with a heavy emphasis on customer service. Vibe Car Wash has embraced this shift and has become known in the North Dallas market for its superior wash quality and customer service. With 4 washes open and operational, Vibe Car Wash has established a solid footprint in the North Dallas Area and is ripe for more growth, especially in adjacent markets.
The express car wash industry is one of the fastest growing and most attractive industries today, however many sponsors are jumping in without the knowledge and expertise behind operating these businesses. With over $1 million in equipment alone, express car washes are one of the most technologically advanced and intricate operations to run, despite what it seems like on the surface. Our team, with over 10 years of experience in this industry, is able to take on new and distressed properties and get top line and bottom line revenue up to our standards. We place a heavy emphasis and focus on memberships and recurring revenue. At our previous car wash projects in the DFW market, many of them were able to exceed 5000 monthly members resulting in a baseline of $100,000+ per month in recurring revenue.
Our target investments are new builds in A+ markets with limited or poor performing competition, as well as underperforming, mismanaged assets in high barrier to entry markets that require a significant capital expenditure. The DFW market is still considered underserved relative to other large markets and Vibe Car Wash has established a niche in redeveloping old, tired car washes into high performing brand new assets. Our fund targets a 5 to 7 year exit on the assets with a refinance or private equity acquisition.
Fund I focused on the first four locations for Vibe Car Wash, really establishing the foundation and footprint for the brand. Fund II allows investors to truly capitalize on that foundation and invest in an existing brand with all the infrastructure in place. With a solid leadership team in place and the first four locations ramping up, assets under Fund II are expected to ramp quicker and utilize the benefits of scale. We have identified the first project for Fund II and placed the asset under contract. You can find details for this project in the presentation. We expect to lock down the second asset fairly quickly as well. Additional capital calls will be made once assets 3 and 4 are identified.
Operations is a key aspect of this industry that many investors tend to overlook. Vibe Car Wash has been recognized industry wide for its high quality of service, delivering a clean, dry, and shiny car to every customer, as well as delivering the ultimate level of customer service. Check out a great case study on Vibe Car Wash by the leading car wash manufacturer here: https://sonnysdirect.com/vibe_car_wash and see our website at www.vibecw.com!
Existing Vibe Location Addresses
Plano - 801 W Spring Creek Pkwy, Plano, Texas 75023
McKinney - 3745 Virginia Parkway, McKinney, Texas 75070
Richardson - 535 W Arapaho Road, Richardson, Texas 75080
North Dallas - 8612 Spring Valley Road, Dallas, Texas 75240
To learn more and walk through this offering, please reach out to Paras Khara at 469-831-2106 or paras@apcapitalpartners.com
Key Highlights | |
|---|---|
Offering Size | $6,500,000 |
Minimum Investment | $100,000 |
Cash on Cash Return | 248% - 313% |
Target IRR | 25% - 30% |
Term | 5 Years |
Target Investor Equity Multiple | 2.5x - 3.0x |
Past Funds
AP Capital Fund I is AP Capital Partner's premiere fund raising money to develop and acquire express car washes in the DFW market under the Vibe Car Wash brand name. The express car wash industry is one of the fastest growing and most attractive industries today, however many sponsors are jumping in without the knowledge and expertise behind operating these businesses. With over $1 million in equipment alone, express car washes are one of the most technologically advanced and intricate operations to run, despite what it seems like on the surface. Our team, with over 10 years of experience in this industry, is able to take on new and distressed properties and get top line and bottom line revenue up to our standards. We place a heavy emphasis and focus on memberships and recurring revenue. At our previous car wash projects in the DFW market, many of them were able to exceed 5000 monthly members resulting in a baseline of roughly $100,000 per month in recurring revenue.
Our target investments are new builds in A+ markets with limited or poor performing competition, as well as underperforming, mismanaged assets in high barrier to entry markets. The DFW market is currently underserved and there is a short timeline to get high quality product in the market. Our development team is well versed in working with city governments to get zoning approval on our car wash projects and this is key to our growth in this market. Our fund targets a 5 to 7 year exit on the assets with a refinance or private equity acquisition.
With Fund I, AP Capital is targeting the development or redevelopment of 4 express car washes in the DFW Market. Out of the 4, the first two projects are already identified. The first project is a ground up, new construction project in a newly developing area of McKinney, Texas. Proposed elevations for that project can be seen in the gallery images. The second project is a prime example of a distressed property in the well established and already developed city of Plano, Texas. With this project, we aim to completely replace the car wash equipment and rearrange the traffic flow to optimize volume. This existing wash is currently operational and profitable and new equipment orders have been placed.
Operations is a key aspect of this industry that many investors tend to overlook. With our Sponsor's extensive involvement as Vice President of Operations at Q Car Wash for over 5 years, we are able to take many best practices and lessons learned into this new venture while saving the years of trial and error that generally go hand in hand with these lessons. Every decision made at the leadership level is to ensure operational efficiencies while protecting the bottom line and as a result, our investors' equity.
To learn more about this offering or for any questions you may have, please reach out to Paras Khara at 469-831-2106 or paras@apcapitalpartners.com
Key Highlights | |
|---|---|
Offering Size | $6,000,000 |
Minimum Investment | $100,000 |
Cash on Cash Return | 248% - 313% |
Target IRR | 25% - 32% |
Term | 5 Years |
Target Investor Equity Multiple | 2.48x - 3.13x |