M&C Report talks to Lee Cash, co-founder of Peach Pub Company, the Oxfordshire-based multiple pub operator, about his best investment, his best business decision and the best piece of advice he’s ever received.
Q: What is the most important action the industry can take to encourage the consumer?
Keeping it interesting. London is so alive with variety. Outside can start to look pretty bland in some high streets. Keep trying different things, and daring not to be too formulaic.
Q: What single action could Government make that would make a difference?
The VAT situation is crazy – I totally understand why food was exempt, but eating out is one of the main ways the nation eats now – from all social groups. Having the playing field so unbalanced makes it unnecessarily tough.
Q: What is your top priority?
Finding the next great person. We’re still making partners out of our own team, and we’re excited about growing Peach over the coming years.
Q: What has been your best investment?
The Rose & Crown, Warwick. Getting your first pub to not just work, but be a great success is a huge boost when you launch a business. If we’d got that wrong, who knows…
Q: What has been your best business decision?
To make Peach a shared ownership business. We have created a way people can build a long-term career with us, and make some money. Plus the pubs are stable enough, that the people in our towns treat us as local institutions. That’s what a pub should be in a market town. Several of our places have been Peachy for a decade now.
Q: How much has your business changed to combat the recession?
Lots! Who’s hasn’t? We are delivering a better product than we were 5 years ago, with a better team. It’s not easy, but our ‘getting back to gastro’ plan has made us look at what we set out to be, and focus on making the good stuff better.
Q: Who is doing something special in the industry?
I ate at Ember Yard this week. I love their places – the food is just delicious, and the team know what they are serving.
Q: Most admired brand?
Soho House. Nick Jones just understands that market so well. His places give their guests what they are looking for, with no modesty about charging for it!
Q: Who has been the most influential in your career?
I guess this is a corny answer – but Hamish and Jo, my business partners. 12 years in, and still working closely together, and still learning!
Q: What is the best piece of advice you have ever received?
I love the corner stones theory. No one person has what it takes to grow any business, getting the mix right in the key team is more than important. It’s vital.
