The first purpose-built data analytics platform that unifies car wash POS and financial systems to track profitability.
Unit level economics for a car wash refers to the financial performance of the business on a per-unit basis. In the case of a car wash, a unit could refer to a single car wash service or a package of services offered to a customer at a single location.
To calculate unit level economics, the key financial metrics to consider include revenue generated per unit, cost of goods sold (COGS) per unit, gross profit margin per unit, and net profit margin per unit.
For example, if a car wash charges $10 for a basic wash and generates $8 in revenue after accounting for credit card fees and other expenses, the revenue generated per unit would be $8. The COGS would include the cost of soap, water, electricity, and any other materials or labor required to provide the service. The gross profit margin per unit would be the difference between the revenue generated per unit and the COGS per unit.
Once you have calculated the gross profit margin per unit, you can then deduct any fixed costs associated with running the business, such as rent, utilities, and insurance, to arrive at the net profit margin per unit.
By analyzing the unit level economics of a car wash business, owners can determine which services are most profitable (as well as which sites are most profitable) and make data-driven decisions about pricing, marketing, and operations.
WashMetrix streamlines the data collection and calculation to allow operators to track their operational performance, profitability, margins, and other costs by unifying POS & accounting systems into a single source of truth when it comes to data. The current POS environment used to manage car wash operations lacks the capability to directly unify POS & accounting systems which creates confusion and distrust when viewing site performance. Furthermore, significant lag time between operations and accounting diligence directly results in tedious/time consuming manual workflows, error prone procedures, and distrust in the overall environment. The more sites you have, the more the data disconnect negatively effects your car wash brand.
Learn more today how WashMetrix can solve the data dilemma for your car wash brand and permanently eliminate the manual processes used to track unit level economics today!
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