Comments (0)

By Matt Furnell, 24/01/2012 3:18 pm

 NatWest has become the official funding partner for Greene King Meet & Eat Pub Franchises.

Franchisees looking to take a Meet & Eat franchise can approach NatWest and receive preferential borrowing rates to support the franchise opportunity.

Speaking about the funding partnership, Simon Longbottom, managing director for Greene King Meet & Eat franchises said, “NatWest has been involved with the franchise sector for 30 years so by linking up with them and their franchise fund, franchisees looking at our business opportunities have easier access to secure funding for their plans.

“We’re seeing our Meet & Eat franchise pubs bucking the trend in terms of expected returns and annual income for the pubs. Currently the return on investment is 45% on an expected investment of £100,000 allowing a franchisee to typically expect a projected annual income of £45k per year. So this partnership with NatWest makes real sense in helping us develop the right package for franchisees going forward”.

Mark Scott, NatWest, Director, Franchise Development said, “I have been working closely with Greene King since the launch of the franchise and am pleased to offer Greene King Meet & Eat franchisees the banking services they need to fulfil their ambitions. Every franchisee taking over a Meet & Eat franchise will be supported by a specialist bank manager whose experience in the franchise sector will help them get off to the best possible start”.

Greene King is rolling out Meet & Eat franchises across the country. The NatWest Franchise Fund is endorsed by the British Franchise Association (BFA) and the Greene King Meet & Eat franchise received British Franchise Association accreditation earlier this year.

Comments (1)

By Matt Furnell, 12/12/2011 2:53 pm

Greene King has today launched a new Greene King Meet & Eat website where customers can look up where their nearest Meet & Eat pub is.  The new website, www.greenekingmeetandeat.co.uk can be accessed from a desktop pc as well as a mobile phone.  Whilst on the move consumers can view pubs near them, check out the entertainment, register for offers and also have a look at new Meet & Eat franchise business opportunities too.

Speaking about the new site, managing director for Greene King’s Meet & Eat franchise pubs, Simon Longbottom said, “This website will provide consumers, who are getting to know and love Meet & Eat pubs, where they can locate one.  The menu and offer is consistent across the Meet & Eat estate so they’ll be guaranteed excellent service every time.  As the numbers grow we’ll add more and more pubs onto the site which all have their own individual webpage links”.

The new site features an easy map to view where Meet & Eat pubs can be found with links to the individual pubs showing menus, events and offers.  On accessing each pub, customers can find directions to the pub from where they are.

Greene King Meet & Eat has opened 24 Meet & Eat pubs in England in the last year and will be developing more across the country in the coming months. Meet & Eat franchise opportunities can be found on www.greenekingpubsfranchise.co.uk.

Comments (0)

By Matt Furnell, 16/05/2011 11:49 am

Greene King Pub Partners has launched a Franchise style agreement this week following a highly successful trial of nine pubs.  The franchise concept will be rolled out across 50 pubs within the leased and tenanted business over the next twelve months and focuses on community town and suburban sites with opportunity for market share growth.  Developed around franchise principles, the concept provides a proven pub package based on Greene King’s retailing “know how”.

Speaking about the launch, managing director for Pub Partners, Simon Longbottom said, “We developed this concept over the last nine months and wanted to make absolutely sure it worked as a model before we launched.  We know from our trials that it provides a platform for entrepreneurs to thrive in the highly competitive urban community segment.  It’s based around the franchise model, capable of multi site rollout and, we’re seeing some great businesses delivering net sales of on average between £7-11k per week and a minimum franchisee income of £45k per annum.  It’s all about sharing the risk and return”. 

Potential franchisees can benefit from the business opportunity with a minimum start up investment of £30,000.  The turn key approach provides a pub on a plate with a high level of support for the franchisee including:

• Wet and dry offer proven to drive market share in the suburban community market
• Clear operating standards and procedures
• EPOS till systems for improved licensee controls
• Sky and electronic music and entertainment systems on a 50:50 cost split
• Rent lower than a standard tenancy with a franchise fee linked to customer service and a 2% marketing charge on net turnover
• Food and drink supplied by Greene King and their channels taking advantage of the scale and buying power of the pub group and providing attractive cost prices
• Capex investment
• Fully supported marketing plans
• Detailed mystery guest and audit programme focused on driving sales.

Adding, Longbottom said, “We’re looking for operators with strong retailing skills, who are self motivated and can create and build a successful team dedicated in delivering the highest standards of customer service within their pub. Each franchisee undergoes a two week fully funded training programme, alongside on site pub staff training to ensure the standards and quality of the customer experience match that of the offer.  

The support this formula provides allows franchisees to take on a successful concept with the assurance they’ll be able to make a minimum of £45,000 income per year.  The franchisee pays a below market rent and then a franchise fee based on a percentage of sales.  The higher service and standard scores they achieve the lower the percentage they pay. So it’s very much a joint venture approach – allowing costs to the business to fluctuate with turnover and delivery of great quality service rewarded.  The franchisee has the benefit of knowing they’re working with the full backing of Greene King’s “know how” and that we both have skin in the game”. 

Greene King has taken advantage of its managed house food cost prices and food development expertise to devise a menu offering value for money and competitive pricing for the pubs.  All pubs receive full kitchen packages, menu and promotional POS. 

David Knott and Robert Lamb are licensees from the Orange Tree in Braintree, one of the first trial sites within the Pub Partners estate.  The pub has seen sales grow from £2.7k per week to over £10k net since the conversion.  David said, “This idea is fantastic as it allows you to walk straight into a pub and operate it successfully.  You complete the training and follow the operating procedures and you have a busy pub.  Everything has been developed to serve the community market, with the pricing set exactly how you need it.  It’s operating your own business within a certain framework.  That’s not restrictive but it gives you the support you need so the pub remains successful”.

Greene King Pub Partners is in discussions with the British Franchise Association to gain accreditation for their franchise concept.   Currently the agreement is for 6 years with an 18 month break clause but this may change with franchise accreditation.  All those pubs on the existing 6 year agreement will be offered the new franchise agreement. Pubs will be advertised on the GreeneKingpubs.co.uk website.

ENDS

Pictured: David Knott and Robert Lamb of the Orange Tree and internal pictures of the Franchise concept pub.

Press contact: Elaine Beckett, PR & Communications Manager, Greene King Pub Partners, Tel: 07974 132844.