Cycle 2 Work made Simple!
Posted on in Cycles News
The Cycle to Work scheme is a great employee benefit with savings of up to 42% on a bike and accessories for employees. However, until now an employee needed their employer to set themselves up with a scheme provider to organise everything. Now, there's a simple way...
We already know that the cycle to work scheme is beneficial to employees, employers and cycle retailers, but the scheme provider acting as a middle man can tend to make things complicated. Not only do they take a "deposit" from the employee of 3% to 7% of the original value of the bike to enter into the extended hire agreement but they also take a commission from the bike retailer for the sale.
Now, there is a better way to implement cycle to work, without the middleman. SimpleCycleToWork is a revolutionary concept that makes it easy for everyone involved. They provide everything needed to operate a C2W scheme - a pack, which includes a proper HMRC compliant agreement to govern the salary reduction and deal with the hire agreement. Just print and sign where indicated.
So now employers and employees can organise a scheme directly between themselves. And the good news for retailers is that there's no commission to pay. This means you control the sale, even including discounted goods if you'd like, and put the transaction through as a normal sale.
It's easy to generate enquiries. Just display the posters around your shop and tell prospective customers about it. If they are interested then give them a quote. The SimpleCycle2Work website has quote forms you can print out and keep under the counter, as well as promotional instore posters and web banners to help you spread the word.
The vast majority, 95%, of UK employers have less than five employees but they employ more than half of the workforce! They're not really big enough for the bigger providers to market to, so they are the primary customers for this type of cycle to work scheme.
ActSmart subscriber benefits
ActSmart has negotiated a 50% discount that subscribers can offer their customers on SimpleCycle2Work salary sacrifice and hire agreement document packs.
These packs, usually priced at £19.99, include a fully personalised, HMRC compliant document to govern a 12 month salary sacrifice and hire agreement. With an ActSmart subscription you can attract more business by promoting SimpleCycle2Work to your customers at a discounted rate of £9.99.
You could even give your customers even more incentive to buy through this scheme by offering a discount from the price of the bicycle and accessories to the value of the SimpleCycle2Work pack (e.g. £9.99). This would make access to the Cycle to Work Scheme cost free, interest free and tax free for your customers and much cheaper for you than the 10% - 15% commission you'd otherwise be paying!
Find out more here or visit the SimpleCycle2Work website.