WELCOME. Village Meeting The Red Lion - Wendlebury. 6 th March Village Hall 4.30p.m
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1 WELCOME Village Meeting The Red Lion - Wendlebury 6 th March 2011 Village Hall 4.30p.m
2 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
3 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
4 Introductions Ellie Phil Paula Julian
5 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
6 Current status The pub is owned by Punch Pub co The UK s biggest pub co circa 8,000 pubs They are not a brewery! They are a property company that owns pubs and makes profit from rent and tying the landlords into buying products from them The current landlord Mark is there in a temporary capacity
7 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
8 Our vision The Red Lion Wendlebury, will become an outstanding pub, by serving seasonal, quality, fresh food at affordable prices We will provide an interesting and well managed range of beer, wine and other drinks The needs of the local community will be met The Pub will become the destination of choice for both locals and a wider audience.
9 The plan Buy the Freehold from Punch company: - WHY? The pub then becomes a Freehouse Free of ties from any supplier better prices and range Gains in property value and trade are the owners to keep, not going back to Punch We can invest knowing we get the payback
10 The plan The key foundations of the plan focus on: - 1. A clear timetable and agenda of activity to achieve our aims 2. Developing a reputation for an outlet with a fantastic atmosphere, welcome, and food, with every customer leaving satisfied 3. A programme of investment to maximise the premises and location 4. Clear, realistic and well managed cash flow and finance
11 Plan key markets Local Value Amenity Community Food Fresh Seasonal Service Events Party Weddings National holidays
12 Plan local Value Amenity Community Let s pop down the Pub, it s easier and better A great place to meet our friends, children playing in the garden It would be nice if the pub gave something back, heart of the community Value discount card for Monday Thursday for villagers Know the locals Events for all the family Occasions Free Wi-Fi Allotments in back field Product / profit donation to village causes PLUS The Red Lion Bond
13 Plan food Fresh Seasonal Service It s great to have freshly prepared food Thank goodness, no freezer and microwave A fresh summer salad and a crisp glass of Sauvignon Blanc Piping hot and wholesome, just what I need on a cold day Such a warm welcome and nothing was too much trouble" A smiling face and very knowledgeable Develop relationship with local suppliers Standard menu with daily specials Excellent Sunday lunches 3 Seasonal menus, winter, spring and summer Using the best season appropriate ingredients Staff training will be key Uniformed staff, stylish Well dressed tables, tableware and glasses Underpinned by great value, excellent service and a comprehensive drinks and wine offer
14 Plan events Party Wedding Occasions The best family party we ever had Great event, everyone really enjoyed it The perfect venue for the informal reception we wanted They took care of everything, nothing was too much trouble A great way to celebrate Christmas The Queens 60 th anniversary was a party to remember Bespoke parties for all occasions Formal private dining Marquee in the garden Private use of restaurant Timetabled and well marketed events Innovative, something different
15 Plan - timetable Year 1 Back to basics The right offer Drinks well served Simple but great food Cleanliness Refurbishment Garden Year 2 Build reputation Spring menu launch Local media Heavy marketing Food guides Year 3 Invest / Expand New Kitchen Courtyard dining New outlets Letting rooms
16 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
17 Business Model Two Limited Liability companies, completely unlinked Red Lion Property Ltd Red Lion Pub Ltd Owned by shareholders Receive rent from the pub co Enjoy the increase in value Owned by the four of us Village Bond to invest Primary creditors Very low risk with return
18 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
19 How you can get involved The Red Lion Bond The Red Lion Bond will enable villagers to invest and have an active interest in the Pub. Basic principles of the bond will be: - 1. Units of 500 each 2. Maximum individual investment of 5, Perks for the bond holder 1. Invitations to menu launches 2. Free bottle of champagne and cake on your birthday 3. Annual AGM with update on business 4. Bonds can be bought back or sold with 3 months notice either way
20 How you can get involved Invest in the Freehold You can invest in the Freehold Your investment will be directly a % of the purchase price You will get the same % share of the rent that the pub co pays Your investment will grow in line with the growth in the value of the Property A set of clearly defined, legally binding rules will be drawn up in regard to onward sale / inheritance etc
21 How you can get involved Invest in the Freehold -an example Purchase price 600,000 You invest 30,000 You would own 5% of the shares Monthly rent paid by pub co 2,000 You would receive 100 = 4% return
22 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
23 Next steps and time plan Register your interest on one of the forms Julian will be in touch personally next week to discuss By the end of next week we need to see if this is a viable option as we have to provide proof of funding If it is not we are prepared to take on the pub as a leasehold and the Bond will still be an option Trying to get everything concluded to take over in late April / May
24 Agenda Introductions Current status of the pub Our vision and plan Business model How you can get involved Next steps and time plan Questions
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