Don’t worry! We know that there are lots of things to organise when entering a new pub. That’s why in your meeting with your BDM he or she will run through a complete check list of everything that needs to be checked and discussed in full. Our Code of Practice, which our BDMs run through with you, will also include all the details you need as a reminder.
Trust Inns has a proven track record when it comes to business support.
This is provided through our:
- Marketing & Promotions Department
- Training Department
Trust Inns insists that, in line with our Code of Practice, should you decide to go ahead with your application, you seek professional advice. This includes legal and financial advice which will probably incur a cost but will also provide peace of mind to know that you’re making the right decision.
Ingoings refers to the sum of money Trust Inns has calculated that you will need to enter the pub. These are usually included on the letting details for each pub. Below are the types of costs you can expect to see, but values differ dependent on the type of pub available.
- Fixtures and fittings
You will purchase and subsequently own the fixtures and fittings within the pub such as furniture, fridges, cellar coolers etc. This cost is calculated by an Independent Valuer before you take over the pub. This is an investment cost as you are able to sell on the fixtures and fittings should you choose to leave the pub.
- Bond deposit
In principle a bond deposit for a Trust Inns’ pub works similarly to a bond that you would pay when renting a private property. Just like private property, upon leaving the pub, if everything is in good repair and there is no outstanding debt you receive your bond deposit back in full.
- Working capital
With our experience we always advise that you keep a set sum aside to cover the costs you will probably incur in your first few months of trading such as you till float or staff wages.
- Stock & glassware
This amount simply covers the amount you would need to fully stock your pub and ensure that all items of glassware etc are available.
- Administration costsThis is a fixed cost of £675 and covers Trust Inns’ administrative expenses.
In most cases, we can supply you with a three year barrelage history, as well as the rateable value and rental details. Unfortunately we are not able to supply you with other information such as sales or costs. However please click here for guidance on producing a Business Plan provided by the BBPA
No!! Normally we would prefer you not to approach the tenant at this stage. Later on in the recruitment process our Business Development Manager (BDM) will arrange a formal appointment for you to view all aspects of the business, including accommodation.
If you do choose to visit the pub before this formal appointment in order to guage how it is run and the level of trade, then we ask you do so as a customer rather than a prospective licensee.
Trust Inns is one of the few privately owned pub companies of our size. This means we don’t have to spend un-necessary time being seen in the media to keep our shareholders happy (because we don’t have any!) Instead we can concentrate on doing what we do best; supporting our tenants.
This very much depends on the pub in question. However we would advise that you at least gain some experience working behind a bar before you embark on this life changing career!
Trust Inns provides several business support services that have been designed to develop your own skills and your business. This includes face to face and online training solutions throughout your tenancy Click here for details of our training package.
Trust Inns is a privately owned company with a relatively flat hierarchical structure. This means we can make fast track decisions concerning all our prospective tenants and be more flexible in terms of investment levels.
And because we’re passionate about putting the right people into the right pubs, hence our motto “Better pubs through better people”, many of our successful tenants have come from completely different backgrounds but had a vision and make it work with our support.