Admiral Taverns is launching a new agreement aiming at supporting new pub market entrants or those taking their first site with the company.
The Business Support Agreement (BSA), which will run for a set period of six months, provides licensees with bespoke training programmes, access to business insights from a range of industry experts, as well as products and equipment.
It will also see licensees signing up to open-book accounting and stocktaking services.
Admiral said the BSA is designed to be a gateway agreement – a stepping stone to a longer-term substantive tenancy, typically lasting between three and five years.
Suzanne Smith, head of recruitment and people development, said: “How we work with new licensees as they enter a pub and run it for those initial months has been a huge area of focus for us. Experience tells us it’s a critical time – for the pub and for the development of the licensee – and can define whether he or she makes a success of the pub and of course themselves.
“This new agreement includes a package built specifically for this time, designed to help licensees navigate what is, by nature, a challenging and demanding period, with extra support in crucial areas as well as a very targeted training and development programme. It represents an extra up-front investment for us, which is hopefully a good message for incoming licensees as it demonstrates our support for, and belief in, them and what they are trying to achieve.”
Once licensees have successfully completed the initial term of a BSA, they will then have the opportunity to progress to a substantive, tenancy-style agreement – for a typical length of between three and five years.
Smith added: “As a business we want to continually improve through innovation and the BSA is an important step for us in tailoring support specifically for licensees who are either new to us or new to the industry. It crystallises that initial period in what we hope is a long-term business partnership.”