Batemans creates ‘manchise’ deal
Managing director Stuart Bateman said the company has been “picking out” the best bits of several franchise-style agreements developed by national tenanted operators to create a ‘manchise’ (managed/franchise) hybrid.
He said: “It will be based on us paying the tenant a percentage of turnover with them paying their wages out of it, and we will be paying the majority of the expenses. There will also be a bonus scheme for the tenant based on the achievement of certain profit figures.”
'Actively looking'
Bateman added the firm is “actively looking” for acquisitions and hopes to add between 10 and 15 over the next 12 to 18 months, “which will be a mixture of ‘manchise’ and managed”.
There will be stronger controls over the retail offer under the new agreement, to ensure the original vision for the business is maintained.
Bateman said: “It’s much, much closer to the franchise model that works in other food sectors, not just the more loosely-based tenancy.”
He added there’s no intention at present to offer the agreement to existing tenants, although if they expressed an interest this would be considered.
In 2012 Batemans entered the managed sector with the conversion of the Bell Inn at Burgh-le-Marsh, Lincolnshire, into a managed house.
