Punch Taverns plc 2011 Annual Report
Punch Taverns plc 2011 Annual Report
Punch Taverns plc 2011 Annual Report
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14<br />
<strong>Punch</strong> <strong>Taverns</strong> <strong>plc</strong><br />
<strong>Annual</strong> <strong>Report</strong> and Financial Statements <strong>2011</strong><br />
Operating review continued<br />
<strong>Punch</strong> support<br />
We are committed to working<br />
in partnership with our licencees<br />
from day one to help them build<br />
the best possible sustainable<br />
pub business.<br />
Partner Development Manager<br />
This relationship is driven by the Partner Development Manager<br />
(PDM) who works alongside the licensee to help them drive<br />
sales and improve retail performance.<br />
To ensure the PDM has the tools to do this, we have reduced<br />
the number of pubs they manage, removed rent valuations<br />
from their role, invested in industry-leading training and given<br />
them the flexibility to carry out peak trade visits to best work<br />
with our partners.<br />
Roadshows and Partner support<br />
The Buying Club also hosts our roadshows, an industry first<br />
bringing together a wide range of suppliers of drinks, food,<br />
services and expertise, all to help our Partners build their business.<br />
Last year saw 2,646 Partners, 46% of our leased pubs, attend<br />
the 11 roadshows which took place across the UK, with a similar<br />
number taking place this year.<br />
Throughout the year Partners all have access to a range<br />
of support, from training in all aspects of successful pub<br />
management to help developing a food offer. We have the<br />
largest food support team in the industry, which carried out<br />
2,211 visits to our pubs, advising Partners on all aspects of<br />
launching and improving a food offer.<br />
In addition, our marketing department offers a full range of<br />
support on wine, soft drinks and beers, with a focus on support<br />
for cask ale, which is a unique selling point for many of our pubs.<br />
As a company we work with more than 116 brewers of all<br />
sizes and over 100 cask ales are available to our estate through<br />
11 regional depots, with more than 100 additional ales available<br />
on a regional rotation through our Finest Cask scheme. This year<br />
has seen more than 250 <strong>Punch</strong> pubs listed in the CAMRA Good<br />
Beer Guide, with a further 997 Cask Marque-accredited.<br />
New lease<br />
Partners also have access to our new market-leading lease,<br />
which offers all of our licencees the option of free-of-tie pricing,<br />
accompanied by an open market rent valuation following RICS<br />
guidelines. Lessees are offered an open and transparent choice:<br />
paying higher fixed rent for his or her pub in exchange for<br />
the higher discounts offered at free-of-tie levels. The new<br />
lease agreement also offers the option of multiple guest ales<br />
free of tie.<br />
Pubwise panel<br />
Our Pubwise panel is made up of independent licensed trade<br />
accountant specialists, who provide accountancy and stocktaking<br />
services to the trade. The rigorous tender process undertaken<br />
in order to get on the panel of specialist independent firms has<br />
resulted in a network of just 13 vetted and approved suppliers.<br />
The panel is part of our ongoing commitment to provide best<br />
value to our Partners. Access to accurate financial information,<br />
cash flow management and stock controls are important to<br />
the survival of all businesses, particularly new ones. We want<br />
to ensure that our Partners have access to a choice of impartial,<br />
high-quality suppliers who can help them to maximise their<br />
gross profit and control their costs at an affordable price.<br />
<strong>Punch</strong> Buying Club<br />
This year sees the first birthday of the <strong>Punch</strong> Buying Club,<br />
which currently has more than 1,600 Partners signed up, ordering<br />
more than 21% of our total beer orders online. The Buying Club<br />
is more than just an online ordering site it gives Partners access to<br />
exclusive deals and through the <strong>Punch</strong> Buying Club blog Partners<br />
can feed back on issues, seek advice, share best practice and<br />
access exclusive marketing and point of sale materials.<br />
Investment<br />
Our PDMs will work closely with our Partners before they<br />
even sign their lease to agree the right offer and, if required,<br />
the right investment for the pub. In the last financial year we<br />
spent £38m on our pubs, with more than 120 transformational<br />
spends taking place, alongside 400 Ready-for-Business investments<br />
to give our pubs the best possible start when a new Partner takes<br />
over. We have a commitment to investing in our core pubs and<br />
will continue to invest alongside the right Partners at this level.
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