WashTec has developed a tool to help independent retailers understand what the impact of the government’s new Business Rates system is likely to be on their business.
The new Business Rates are due to come into effect in April and many independent retailers and industry experts have criticised the criteria used by the Valuation Office Agency (VOA) for assessing car wash operations. As previously reported by Forecourt Trader, in its revaluation the VOA decided on a broad brush approach that 20% of the turnover of a car wash would be its rateable value. The previous system had eight different bands for car wash operations.
WashTec says the new Car Wash Economics Tool also analyses the revenue streams and operational costs of a rollover car wash business as well as indicating the site profitability, machine payback and minimum wash counts needed to achieve break-even. The tool is free to all UK forecourt operators.
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