Archives: Jargon Buster

Working capital

We always advise you to keep a set sum aside to cover the costs you will probably incur in your first few months of trading such as your till float or staff wages.

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Wet lead

A pub whose sales are predominantly driven by sales of products such as lager, beer, wine and spirits.

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Tenancy

The tenant is self employed and takes the full responsibility for the running of the day to day business, but the bricks and mortar continue to be the property of the pub company, in this case Trust Inns.

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Free of tie

Any products that are free of tie means that you are able to purchase them from any supplier and to negotiate your own terms.

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Food lead

A pub whose sales are predominantly lead by food

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FMT

Fair Maintainable Trade

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F&F

Fixtures and fittings – you will purchase and subsequently own the F&F within your 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 F&F should you choose to leave the pub.

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Bond

This is similar to a bond you would pay when renting a private property.  Just like leaving a private property, upon leaving the pub, if everything is in good repair and there is no outstanding debt you will receive your bond back in full.

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BII

British Institute of Innkeeping.  The professional body for the licensed sector

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BDM

Business Development Manager

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BDL

Business Development Lease – Trust Inns has a 3 year and 10 year BDL

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BBPA

British Beer and Pub Association

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AWP

Amusements With Prizes eg games machines

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Assignability

The ability to sell on (assign) your business at the end of an agreed time period.  This means you can benefit from the good will you have built up in your business.

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They have helped me no end.  I was new to the management post and thrown in at the deep end.  Trust Inns has helped me with the running of the pub and paperwork.  My BDM and credit controller have been very good.

Albion Hotel
Barrow in Furness

We have a very good relationship with Trust Inns. We have great personal communication with them and support when we need it.

Midge Hall
Leyland

I’ve been a tenant for 20+ years and I’m very happy with the service

Percy Arms
Blyth

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