Sales Share Agreement - Become your own boss
Ready for a new challenge in your career?
Feeling constrained in your current role?
Excited to unlock your potential?
If you’re ready to become your own boss, the Wells & Co. Sales Share Agreement could be for you.
What is it?
Our Sales Share Agreement aims to remove financial barriers to entry to the pub industry, allowing newcomers to experience running their own site, add their own stamp to their new business and carve out their niche in the world of pubs. We’ve lowered the ingoing costs and risks as much as possible, to attract new talent and encourage those with an entrepreneurial streak to expand their horizons and make their mark in this exciting marketplace.
How does it differ from other pub business agreements?
Requiring less personal investment than a traditional Tenancy agreement, but offering more autonomy and potential for progression than a Managed house role, our Sales Share Agreement strikes a perfect balance for emerging new talent to take on their first pub. What’s more, Sales Share operators are backed by a comprehensive support package from Wells & Co.; you’ll have the full weight of our marketing, financial, licensing and property teams (amongst others) in your corner. No-one is left to ‘sink or swim’ on a Sales Share Agreement.
What are the Sales Share Agreement’s key characteristics?
- The Sales Share Agreement is for a fixed term (typically five years).
- There is no rent payable, freeing you to focus on driving your business.
- You’ll pay a security deposit of around £6k-£10k, depending on whether your business is a sole trade or a limited company and legal, licensing and training costs.
- Our comprehensive retail induction programme will get you off to a flying start in the pub trade.
- Your drinks range will be supplied by Wells & Co.
- Your gross income will be 30-35% of drinks sales, 90-100% of food sales and 50% of gaming machine income after deductions. The more you sell, the more money you’ll take home.
- Your staff are your employees; you can build the ideal ‘dream team’ for your pub.
- Wells & Co. pays for the heating and lighting in your pub; you cover all other utility costs and bills from your gross income, for instance staff wages, live entertainment and satellite TV.
- You will not be required to purchase the trade fixtures and fittings, but will be responsible for repair, compliance and maintenance of these items. You’ll also be responsible for some repairs and decorations; Wells & Co. will assist your budgeting in this area.
- Wells & Co. arrange support services on your behalf, leaving you free to focus on building your business. These services include stocktaking, accounting, EPOS tills, and many more.