Greene King, the brewer and pub operator, is to launch two new tenancy agreements aimed at encouraging “highly talented” entrants to the trade, and giving cash incentives for good retail performance. The company has renamed its standard tenancy as Touchstone and launched two additional agreements: Touchstone Plus and Access. Under Touchstone Plus, tenants receive up to £5,000 every three years from Greene King based on the results of mystery guest visits. Pubs receive three visits per year and cash incentives are aligned to the feedback. There’s also a cash-back incentive for tenants on purchases of non-tied products from Greene King’s via its Bar Gains bulk-buy scheme, and for overall beer volume sales. “We believe this will be the 1st choice for most licensees,” said Simon Longbottom, managing director at Greene King’s tenanted and leased arm Pub Partners. “Touchstone Plus offers support, and rewards for great performance which of course benefits both our licensees and Greene King.” The Access agreement, aimed at “highly talented” newcomers to the industry, offers a much lower point of entry, typically £5,000. Greene King will fund their training and pay for their first dray plus legal and accountancy fees. They will also undertake more extensive pre-entry training than the standard four-day requirement. Operation director Andy Spencer said: “We are taking a real paternal view of these applicants.” Longbottom told M&C Report: “We get quite frustrated at not being able to progress raw talent, particularly younger talent that wants to enter the industry. “It’s about widening the gene pool. There are fantastic retailers out there that don’t have £20,000-£30,000 to invest in a business but they have the talent to make it happen.” Longbottom said Greene King is seeing an increase in younger applicants, particularly those aged under 30, as well as individuals from other industries who want a change of career. The idea is that tenants on Access would move to a different tenancy within about three years. Greene King has also announced the launch of a new lease agreement called Horizon, a 10+ year lease assignable after two years and Crystal Marked by the Plain English Society. Longbottom said: “The main aim is to update our existing agreements to enable us to attract and keep the best talent to the business. We have a lease agreement, and three different tenancy agreements, which allow us to be flexible to suit the needs, experience and financial situation of incoming licensees. They have all been written in plain English to make the process as simple as possible” The new agreements are to become available on 1 August with the first ‘live’ agreement expected in September.