Lancashire brewer and pub operator Daniel Thwaites has set a £15,000 ‘floor' for tenant earnings, director of pub operations Andrew Buchanan told the Tenanted Pub Company Summit.
He said the figure is “not a guarantee” but an objective to ensure a minimum level of income for tenants.
“Our customers [tenants] must be profitable; the word sustainable really means profitable,” he told the conference in London.
“When we introduce a new customer to a pub we use that floor of £15k earnings. For the vast majority of the pubs, we can get there, but in some of the pubs that’s a little bit more challenging. So we have to look at different ways that we can do that.
“That number [£15,000] may be different in different parts of the world, but where we are, it’s a start.”
