Daniel Thwaites, the Lancashire brewer and pub operator, has launched its “WayInn” agreement, a revenue sharing model, which it says provides a lower risk entry to the pub market for individuals who either “do not have the necessary funds to invest in taking on a tenancy or are risk averse”. Under the new scheme, a pub operator runs the premises with the guidance of an experienced area business manager, to an agreed business plan. Thwaites said that this would focus on delivery of “high quality products, excellent standards and merchandising, great customer service and lots of activities”. A comprehensive three-day training course is provided under the agreement. The company said that managers under the new agreement are guaranteed a weekly income of 200 or 15% of total weekly sales, with the group responsible for all other pub running costs ranging from everything from utility bills and Sky costs (where appropriate) to business rates and product costs. Six Thwaites pubs are already operating under the WayInn Agreement including the Prince of Wales in Crewe (the first pub to open in the scheme), the Millbank Inn at Rhyl, the Queens at Bradley Fold, near Bolton, the Queen Ann at Little Lever, Bolton and the Church at Mosley, near Ashton-under-Lyne. Andrew Buchanan, director of pub operations at Thwaites, said: “The WayInn agreement is designed to make the whole business of running a pub hassle-free. It is almost like a try before you buy for those wanting to get in on the pub trade “It also gives people an opportunity to set up their own pub business without having to find the initial investment, and get valuable experience with our support. We invest both time and money in the pub, to make sure it is well set up to deliver the right offer to the right consumer in its area. “The WayInn agreement provides a great route in to running a pub for people with limited funds. Daniel Thwaites offers a six-month agreement on selected pubs to pay all outgoing costs, except for staff costs. Ideally after the first six months will be followed by a transfer onto one of Thwaites tenancy agreements. “There are various ways of transferring to one of our new tenancy agreement types. Named Goldings, Fuggles and Styrian, they offer a flexible range of discounts dependant on the need of the consumer offer and in the case of the Styrian agreement, remove the internal decorating liability from the tenant. “The whole idea is to create opportunities through investment and encouraging motivated operators to get back behind the bar, giving the pub a new lease of life. Ultimately, we want to see pubs participating in the initiative becoming the best performing outlets in their communities.” Earlier this week, the Lancashire brewer and pub operator reported a rise in full-year pre-tax profit from £5.7m to £7m, despite experiencing a fall in turnover. The company, which operates 350 tenanted pubs, said turnover in the 12 months to 31 March 2011, fell 6.3% to £126.7m, due to the sale of the Stafford Hotel in London during its previous financial year, its withdrawal from some marginal brewing contracts and the transfer of its managed houses to tenancies.