Pale ulcerated lump

Last week I noticed a pale ulcerated wound in my 5 year old schnauzer’s genital area. I proceeded to sanitize and clean the wound daily but didn’t notice any sings of healing, recently I also noticed that the area underneath the would seems hard and detached, as a lump. The dog is behaving normally and hasn’t shown any other symptoms, also the wound doesn’t seem to hurt as he won’t mind me cleaning it. We are currently coming back from a travel but I’ll be taking him to the vet in a couple of days, nevertheless I would really appreciate any insight on this issue as I grow increasingly worried. 

Hello!  This could be a wart or a cancer or a cyst / abcscess or impacted follicle or even that normal enlarged, specialised follicle on either size of the dogs' penis (I can't tell from this angle, but the one I'm talking about has a pair on the opposite side).  Given that there seems to be a lump underneath, this definitely merits being inspected by a vet and until then, we would advise leaving it well alone.  If its owners seems to be licking consistently at the lump (which you don't suggest is happening), a buster collar may prove helpful.