The pub company, which is part of the Heron & Brearley Group, has launched ‘Okell’s Independent’ - a new agreement introducing the turnover rent model.
Under the Okell’s Independent model, the company acts as investor partner, providing premises, stock, assets, and most overheads while operators establish independent businesses and receive percentage turnover rather than traditional salaries. Okell’s said that its partners “gain full autonomy over business plans, team recruitment, and customer offerings.”
The initiative, led by executive chairman Mark Crowther - former CEO of Liberation Group in the Channel Islands – has also seen a new strategic segmentation of Okell’s 29-strong pub estate into Independent, Heritage and Classic categories.
Adapting approach
“From personal experience, the turnover rent model has proven successful for UK operators over recent years,” said Crowther. ”We’re adapting this proven approach for the Isle of Man market, where we’re looking to support our partners to bring fresh ideas and make their own mark on our wonderful pub culture.”
Okell’s Inns managing director Steven Taylor said: “We’re targeting experienced hospitality professionals who understand how to connect with their customers, but may lack capital and resources to set up their own independent venture. We’re also offering a lifestyle change on one of the most beautiful islands in the British Isles.”
Strategic evolution
The annual TT Races alone attract over 40,000 visitors and generate £39m for the economy in the Isle of Man. More than 200 flights per week provide direct links to the UK and Ireland.
The Isle of Man is a UNESCO Biosphere Reserve and offers benefits including no capital gains tax, inheritance tax, or wealth tax, with a maximum personal income tax cap of 20%.
The introduction of the Okell’s Independent model coincides with the 175th anniversary of Okell’s brewery and represents part of a broader strategic evolution under Mark Crowther’s leadership, including new product launches and enhanced community engagement initiatives.