Joint-equity vodka partnerships

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Laurel is looking for entrepreneurs to roll out its Vodka Bar Management venture on a national scale. The mould-breaking 50/50 partnership will notch...

Laurel is looking for entrepreneurs to roll out its Vodka Bar Management venture on a national scale. The mould-breaking 50/50 partnership will notch up its sixth outlet when the former Bar Logic opens on Glasgow's Sauchiehall Street in late November or early December. Before then, the chain makes its first foray outside London with a launch in Nottingham later this month. The managed house company's communications director, Maureen Heffernan, explained: "It's a low-cost way for operators to get into the business. We pay for the design costs in one of three or four concepts, and they pay us back over a five-year period. "Profits are then shared equally between us." She added: "What we're looking for are the right kind of people in good locations. And that doesn't necessarily have to be major towns and cities. It's much more about getting the combination right." Such joint-equity partnerships are not entirely unknown, but have rarely been explored to this extent. The most high profile hitherto was probably Richardson's Inns, in which Gerald Richardson joined with Whitbread to run traditional pubs in the City of London. He later merged his business with SFI Group.

Related topics: Spirits & Cocktails

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