Admiral Pubs Management Agreement, Midland Hotel, Wakefield
The Midland Hotel is a town centre pub that is driven by weekend and daytime trade. There is scope to develop the pub further by offering entertainment such as quiz nights and poker nights and also by introducing and supporting pool and darts teams. Friday and Saturday nights are already popular with karaoke and DJs.
Accommodation: Private Accommodation
The private accommodation is located on the second floor and consists of three bedrooms, including separate lounge, kitchen, and bathroom all in reasonable order.
Financial:
Security deposit: £2,000
No rent applicable on this agreement
This opportunity is for you to run your pub as a self-employed manager. Admiral Taverns takes care of all the running costs including rates, utilities, stock, and day-to-day running costs whilst you take home 18.5% of the net weekly sales, all employment costs relating to your staff, and any council tax and TV licence for the residential quarters.
All new operators have comprehensive free training as part of their agreement.
* 7 Steps to Sales Success Training Programme: Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.
* E-Learning Training for you and your staff: Featuring more than 30 courses for both you and your staff, you’ll have access to a wide range of topics from Compliance, Health and Safety to Personal Development and Wellbeing.
BDM Vision:
Michelle Ryan, Business Development Manager, is seeking a couple/partnership who will be able to demonstrate a good understanding of the local marketplace as well as being community-focused with a good knowledge of sports. The pub has undergone an extensive refurbishment, so it would ideally suit someone who is local to understand the demographics, who is an experienced community and sports-obsessed operator, and has experience in running a similar venue. Applicants must have the right sales-focused ideas to maximize sales on evenings and weekends whilst ensuring customers are served in a safe environment. You will need to plan and execute weekly entertainment such as Quiz nights, Bingo, Karaoke, and live music and ensure a return is made on your weekly entertainment allowance.
Future Plans:
Annual Rent: This is our lowest rent figure associated with a Full Tie. If the tie is reduced, the effective rent (via Tie Release Fees) will increase. Rent is billed and paid for weekly in advance depending on the payment terms agreed. On occasion, our Business Development Manager will discuss a start-up rent which is discretionary to an individual pub and can be discussed.
Security Deposit: This sum of money will be held on your account and will be returned to you on exiting of the pub based on your final account balance and the condition of the property. Our standard deposit is 25% of the headline rent. On occasion, we can negotiate a lower security deposit with the aim to build up to our full deposit on a long-term agreement.
Working Capital: This is a recommended amount required which will be used in the day-to-day running of the business.
Stock: This will be valued by an independent valuer on the day you take over the pub. This includes unbranded glassware, unopened bottles, wines, spirits, any unopened/opened kegs, and cask ale providing the container is unopened.
Fixtures & Fittings: This includes any item that is bolted to the floor or walls, and a fitting to be any item that is free-standing or hung by a nail or hook. This will also include furniture.
Tie: All drinks categories are tied. For fully funded licensees on long-term agreements, we offer free-of-tie options for certain drinks categories in exchange for an annual fee.
Training: £350.00 – Before signing a long-term agreement, you will be required to attend our 7 Steps to Sales Success training programme. Held online over two days, you will learn marketing and business strategies that will help you to grow sales in your pub – step-by-step.
Service Charge Cost: £63.33 per week – The Admiral Taverns Premium Maintenance Package will help take care of your compliance and statutory obligations with one simple fee, whilst giving you peace of mind about your boiler and cellar cooling repair and replacement. This also includes full access to e-learning for you and your staff.
*Zero Business Rates: Based on the April 2023 rating list, the Nil Rates Payable is based on small business rates relief being applied for by the licensee and the licensee only occupying one property for commercial purposes. Please note, this only applies to pubs marked with an Asterisk *
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