Jargon Buster

FIND OUT WHAT IT MEANS!

We know that there’s a lot to take in when considering whether to take on a pub business and if you’re new to the trade then there’s probably lots of jargon that you’re not used to! To help you we have defined the most popular terminology below:

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.
AWP Amusements With Prizes eg games machines
BBPA British Beer and Pub Association
BDL Business Development Lease – Trust Inns has a 3 year and 10 year BDL
BDM Business Development Manager
BII British Institute of Innkeeping.  The professional body for the licensed sector
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.
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.
FMT Fair Maintainable Trade
Food lead A pub whose sales are predominantly lead by food
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.
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.
Wet lead A pub whose sales are predominantly driven by sales of products such as lager, beer, wine and spirits.
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.

Still have a question?

We are here if you have any more questions! You can either complete our contact form on our contact page and someone will be in touch to answer your query, or you can call or email us! We are happy to provide more information or help if you need it.

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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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