Punch plans to give new tenants 'best possible chance'

Punch has vowed to invest in its pubs immediately after the lease is handed back to give new licensees "the best possible chance" to trade well from the start.

It's part of the pubco's new Ready For Business scheme, launched today.

Punch Partnerships managing director Roger Whiteside said: "We're turning our former practices on their head.

"When we get a pub back, our focus has been to re-open that site as soon as possible with a temporary operator whilst we began the process of recruiting a new, long term partner.

"Once a new partner was in place, we may then have spent money on the pub to improve it."

He said the new scheme means "we will now commit to invest in that pub as soon as we get it back, so that it not only trades better under temporary management but that it will appeal to the calibre of partner that we want to attract to take that business forwards".

"Most importantly, Ready For Business will ensure that our new partner has the best possible chance to trade their pub to its optimum level from the outset."

He said the support and training for new licensees has also been restructured, "with the focus on aligning close BRM support and business development activity with foundation training for partners". 

Whiteside added: "It has always been our priority to help get our partners off to the best possible start and Ready For Business is the next step in ensuring that all the key elements are in place to enable our partners to focus on trade building right from the off, with the support and expertise of our operations teams alongside them."

However, Fair Pint founding member Steve Corbett said the move may be slightly misguided.

"You have got to welcome this as some pubs have been under-invested in for decades. It is a step in the right direction.

"But Punch is slightly missing the point as every new entrant to the trade is an entrepreneur and will have their own idea about how they want the pub to look.

"It is imperative Punch works hand in hand with the incoming tenant."